VOLUNTEER FIREFIGHTERS' BENEFIT ASSOCIATION OF MINNESOTA (EIN 410708578) - Form 990 Financial Analysis & Trantor Score

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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

1927

Legal Domicile

Principal Officer

TOM LINHOFF

Phone

2188503101

Tax Period

2024-01-01 to 2024-12-31

VOLUNTEER FIREFIGHTERS' BENEFIT ASSOCIATION OF MINNESOTA, founded in 1927, is a small nonprofit that reported $323K in total revenue in fiscal year 2024. Revenue surged 37% from the prior year, signaling strong growth momentum. The organization ran a surplus of $128K, a strong 40% operating margin.

Mission

TO CREATE, ESTABLISH AND MAINTAIN FUNDS AVAILABLE FOR THE RELIEF AND SUPPORT OF SICK, INJURED OR DISABLED FIREFIGHTERS AND TO PROVIDE ACCIDENTAL DEATH OR DISMEMBERMENT BENEFITS TO MEMBERS OF THE ASSOCIATION.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $157,260

Program Service Revenue $0

Investment Income $165,742

Other Revenue $0

TOTAL REVENUE $323,002

Expense Breakdown

Grants Paid $0

Salaries & Benefits $48,108

Fundraising Expenses $0

Program Expenses $153,036

Other Expenses $88,202

TOTAL EXPENSES $194,860

Year-over-Year Comparison

	2024	2023	Change
Revenue	$323,002	$236,151	+0.4%
Expenses	$194,860	$153,941	+0.3%
Net Income	$128,142	$82,210	+0.6%

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

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

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

$44,506

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE SPAETH	SECRETARY	20.00	Officer	$32,082	$0	$32,082
TOM LINHOFF	PRESIDENT	1.00	Officer	$6,424	$0	$6,424
GREGORY TAYLOR	TREASURER	1.00	Officer	$6,000	$0	$6,000
ROSS MARTIN	DIRECTOR	1.00	Director	$0	$0	$0
BARRY NELSON	DIRECTOR	1.00	Director	$0	$0	$0
CHAD RASMUSSEN	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLAS SMITH	DIRECTOR	1.00	Director	$0	$0	$0
TODD BLOMME	VICE PRESIDE	1.00	Officer	$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	$323,002	$194,860	$2,307,892	$128,142
2023	$236,151	$153,941	$2,179,750	$82,210
2022	$286,451	$195,305	$2,207,540	$91,146
2021	$325,350	$151,458	$2,006,394	$173,892
2020	$229,582	$135,930	$1,832,502	$93,652

VOLUNTEER FIREFIGHTERS' BENEFIT ASSOCIATION OF MINNESOTA