Two Harbors Volunteer Firemen's Relief Association

Nonprofit profile at a glance

EIN
416039747
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Two Harbors, MN, USA
Phone
2188343136
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Support N.E.C.

Reported finances

Revenue
$106,327
Expenses
$43,072
Assets
$1,369,404
Liabilities
$257

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

Leadership & pay

9 people listed

Executive titles in this filing

  • GREG SWANSON (PRESIDENT)
  • MIKE ROUSSEAU (VICE PRESIDENT)

Highest reported compensation

  • NATE GENS (SECRETARY): $600 total reported compensation
  • JESSE MILLER (TREASURER): $600 total reported compensation

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

Overview

Mission

The purpose of the two harbors volunteer firemen's relief association is to provide benefeits to members.

What it reported doing in 2024

To provide benefits upon sickness, disability, and retirement. During the year, there were 26 active members and 9 inactive members who are deferred.

Operating model

Revenue model
Grant-funded. 77% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 45% for grants, and 55% for member benefits.

The verdict

MIXED - 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: 11
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 84
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 8.5%; rating input score 8
  • Program expense ratio: 20.7%; rating input score 21
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 59.5%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 31.79; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: -11.4% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 8.5% of revenue deployed · 20.7% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $9K in reported program spending
  • Leadership: top reported pay $600 · 9 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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 8/100.
  • High — Financial Efficiency: Program expense ratio scored 21/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.