The Hastings Fire Department Relief Association

Nonprofit profile at a glance

EIN
416030634
IRS 990 coverage
2012–2022
Forms available
Form 990 2022
Location
Hastings, MN, USA
Phone
6514806150
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Safety, Disaster Preparedness & Relief N.E.C.

Reported finances

Revenue
$348,861
Expenses
$106,152
Assets
$4,890,430
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • ALAN STORLIE (PRESIDENT)
  • ROBERT WARGO (VICE PRESIDENT)

Highest reported compensation

  • CRAIG LATCH (TREASURER): $3,156 total reported compensation
  • TIM LIKES (SECRETARY): $1,340 total reported compensation
  • ALAN STORLIE (PRESIDENT): $1,100 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide pension and disability benefits to associations members.

What it reported doing in 2022

Special pension trust fund: the special pension trust fund is a pension trust fund for the accumulation of resources to be used for retirement, dependency and disability annuity payments of appropriate amounts and at appropriate times in the future. Resources are contributed by the city of hastings at amounts determined by law, and from the 2% insurance premium tax and amortization aid from the state of Minnesota. Net assets of the special pension trust fund are held in trust for pension benefits.

Operating model

Revenue model
Grant-funded. 63% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 1% for direct work, 53% for grants, and 46% for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 32
  • Transparency & Controls: 82
  • Accountability: 82
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 26.6%; rating input score 27
  • Program expense ratio: 50.8%; rating input score 51
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 21st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 72.5%; rating input score 72; 47th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 69.6%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 46.07; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 7.1%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 0.4% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 26.6% of revenue deployed · 50.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $54K in reported program spending
  • Leadership: top reported pay $3K · 9 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2012 to 2022
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 27/100.
  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.