NICOLLET FIREMEN'S RELIEF ASSN

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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

1971

Legal Domicile

Principal Officer

DEREK WAHL

Phone

5074799700

Tax Period

2024-01-01 to 2024-12-31

NICOLLET FIREMEN'S RELIEF ASSN, founded in 1971, is a micro nonprofit that reported $88K in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $65K, a strong 74% operating margin.

Mission

PROVIDE A RETIREMENT TO RETIRED FIREFIGHTERS OF THE CITY OF NICOLLET'S FIRE DEPARTMENT.

Program Service Accomplishments

Program 1

RETIREMENT FOR RETIRED FIREFIGHTERS OF THE CITY OF NICOLLET FIRE DEPARTMENT.

Program 2

Expenses: $10,192

HELP BUY FIREFIGHTING GEAR, REPAIR EQUIPMENT FOR THE NICOLLET FIRE DEPARTMENT TO LESSON THE PROPERTY TAX BURDEN OF THE LOCAL COMMUNITY.

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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 $61,485

Program Service Revenue $0

Investment Income $611

Other Revenue $25,685

TOTAL REVENUE $87,781

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $10,192

Other Expenses $22,843

TOTAL EXPENSES $22,843

Year-over-Year Comparison

	2024	2023	Change
Revenue	$87,781	$75,841	+0.2%
Expenses	$22,843	$196,647	-0.9%
Net Income	$64,938	$-120,806	-1.5%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEVRON HAVEMEIER	PRESIDENT	1.00	Officer	$0	$0	$0
DARIUS STEEN	VICE PRESIDE	1.00	Officer	$0	$0	$0
ANDY BRODERICK	SECRETARY	1.00	Officer	$0	$0	$0
DEREK WAHL	TREASURER	1.00	Officer	$0	$0	$0
MIKE SLATER	TRUSTEE	1.00	Director	$0	$0	$0
SCOT OSBORNE	TRUSTEE	1.00	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	$87,781	$22,843	$1,495,815	$64,938
2023	$75,841	$196,647	$1,227,946	$-120,806
2022	$74,478	$62,960	$1,143,806	$11,518
2021	$69,067	$23,912	$1,362,097	$45,155
2020	$77,912	$76,794	$1,121,902	$1,118
2019	$59,465	$8,313	$946,112	$51,152
2018	$55,889	$15,754	$715,289	$40,135