ELK RIVER FIRE DEPARTMENT RELIEF ASSOCIATION

EIN: 363415975 Public Safety

ELK RIVER, MN

Total Revenue
$483,667
Total Expenses
$73,203
Total Assets
$3,929,988
Net Assets
$3,929,988
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1922
Legal Domicile
MN
Principal Officer
JEREMY COLLINS
Phone
7636351081
Tax Period
2024-01-01 to 2024-12-31

ELK RIVER FIRE DEPARTMENT RELIEF ASSOCIATION, founded in 1922, is a small nonprofit in the Public Safety sector that reported $484K in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $410K, a strong 85% operating margin.

Mission

TO PROVIDE RETIREMENT BENEFITS TO ASSOCIATION MEMBERS.

Program Service Accomplishments

Program 1

RETIREMENT RELIEF AND OTHER BENEFITS TO MEMBERS AND DEPENDENTS. THE ASSOCIATION IS A GOVERNMENTAL ENTITY THAT RECEIVES AND MANAGES PUBLIC MONEY TO PROVIDE RETIREMENT BENEFITS TO INDIVIDUALS PROVIDING...

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RETIREMENT RELIEF AND OTHER BENEFITS TO MEMBERS AND DEPENDENTS. THE ASSOCIATION IS A GOVERNMENTAL ENTITY THAT RECEIVES AND MANAGES PUBLIC MONEY TO PROVIDE RETIREMENT BENEFITS TO INDIVIDUALS PROVIDING THE GOVERNMENTAL SERVICES OF FIREFIGHTING AND EMERGENCY FIRST RESPONSE. DURING THE YEAR, THERE WERE 53 ACTIVE MEMBERS AND 15 INACTIVE MEMBERS WHO ARE DEFERRED.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $374,063
Program Service Revenue $0
Investment Income $108,999
Other Revenue $605
TOTAL REVENUE $483,667

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,096
Fundraising Expenses $0
Other Expenses $68,107
TOTAL EXPENSES $73,203

Year-over-Year Comparison

2024 2023 Change
Revenue $483,667 $423,701 +0.1%
Expenses $73,203 $656,927 -0.9%
Net Income $410,464 $-233,226 -2.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
53

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$5,096
Total Directors
9
$5,096
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KRISTIN PRESCOTT TREASURER 5.00
Officer Director
$3,900 $0 $3,900
TRENT COLLINS SECRETARY 2.00
Officer Director
$780 $0 $780
GARRETT ERDMAN PRESIDENT (THRU 12/01/2024) 1.00
Officer Director
$416 $0 $416
MIKE TIETZ VP/PRESIDENT (BEG 12/01/2024) 0.25
Officer Director
$0 $0 $0
JEREMY COLLINS TRUSTEE 0.25
Director
$0 $0 $0
MIKE KELLEHER TRUSTEE 0.25
Director
$0 $0 $0
JOHN DIETZ CITY MAYOR, EX-OFFICIO TRUSTEE 0.25
Director
$0 $0 $0
JOE STREMCHA CITY ADMIN, EX-OFFICIO TRUSTEE 0.25
Director
$0 $0 $0
MARK DICKINSON FIRE CHIEF, EX-OFFICIO TRUSTEE 0.25
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $483,667 $73,203 $3,929,988 $410,464
2023 $423,701 $656,927 $3,305,596 $-233,226
2022 $384,536 $913,873 $3,290,706 $-529,337
2021 $352,874 $357,540 $4,395,996 $-4,666
2020 $351,987 $284,348 $4,080,780 $67,639
2019 $333,362 $462,732 $3,865,842 $-129,370
2018 $334,522 $400,754 $3,402,437 $-66,232
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