Worthington Fire Relief Assoc

Nonprofit profile at a glance

EIN
416037659
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Worthington, MN, USA
Phone
5073728680
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$163,224
Expenses
$50,783
Assets
$1,210,378
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Dan Reese (Vice-President)
  • Chad Nixon (President)

People named in this filing

  • Jeremy Braaksma (Treasurer)
  • Cory Greenway (Secretary)
  • Dan Reese (Vice-President)

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 Association provides for the support and relief of its members and dependents with retirement benefits and other financial assistance in case of old age, sickness, or disability

What it reported doing in 2024

The Firefighters pension plan serviced 30 individuals in 2024. Monthly benefits were paid to 8 retired members. No lump sum benefits were paid to retired members.

Operating model

Revenue model
Grant-funded. 66% of the money available for current operations came from government grants.
Distribution model
Member-benefit provider. The nonprofit used 70% of its reported program spending 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 91
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.8%; rating input score 46
  • Program expense ratio: 99.1%; rating input score 99
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 68.9%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 23.83; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -10.9% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -4.9% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 45.8% of revenue deployed · 99.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $50K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 10 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.