The Leary Firefighters Foundation C/o Innovative Philanthropy

Nonprofit profile at a glance

EIN
134125074
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128671117
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$1,425,552
Expenses
$1,444,612
Assets
$5,766,012
Liabilities
$948,433

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • DENIS LEARY (PRESIDENT)

People named in this filing

  • DENIS LEARY (PRESIDENT)
  • DAVID MORKAL (SECRETARY)
  • RONALD NASH (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The foundation's mission is to provide funding and resources for fire departments to obtain the highest level of equipment, technology and training.

What it reported doing in 2024

The foundation, based in New York, works with fire departments to target, develop, and fund equipment, training, technology and facilities that fall outside the funding capabilities of city and municipalities fiscal budgets. The foundation awarded 62 grantees a total of $910,163 in funding during 2024.

Operating model

Revenue model
Donor-supported. 85% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 81% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 78.1%; rating input score 78
  • Fundraising efficiency: $5.65 raised per $1 spent on fundraising; rating input score 21; 21st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 26th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.2%; rating input score 99; 48th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.3%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 3.99; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 14.2% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 22.5% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 78.1% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Highest-paid contractors: 1 contractor listed · $217K reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 59 filed money-flow records
  • Related organizations: 59 filed related-organization links
  • 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: Fundraising efficiency scored 21/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.