BOYD FIREMANS RELIEF ASSN

EIN: 411469745 501(c)(3)

BOYD, MN

Total Revenue
$20,987
Total Expenses
$21,266
Total Assets
$395,632
Net Assets
$394,171
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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
1988
Legal Domicile
MN
Principal Officer
TREVER HERMANSON
Phone
3208552654
Tax Period
2024-01-01 to 2024-12-31

BOYD FIREMANS RELIEF ASSN, founded in 1988, is a micro nonprofit that reported $21K in total revenue in fiscal year 2024. Net assets of $394K represent 225 months of operating reserves.

Mission

RETIREMENT FOR FIREFIGHTERS

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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 $15,174
Program Service Revenue $0
Investment Income $1,865
Other Revenue $3,948
TOTAL REVENUE $20,987

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $18,250
Other Expenses $4,691
TOTAL EXPENSES $21,266

Year-over-Year Comparison

2024 2023 Change
Revenue $20,987 $20,473 +0.0%
Expenses $21,266 $34,610 -0.4%
Net Income $-279 $-14,137 -1.0%
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
6
Independent Members
6
Employees
3
Volunteers
26

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
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TREVER HERMANSON TRUSTEE 1.00
Director
$0 $0 $0
JOE HUTT SECRETARY 1.00
Officer Director
$0 $0 $0
NICK LUKKEN TRUSTEE 1.00
Director
$0 $0 $0
ZACH MOEN VICE PRESIDE 1.00
Officer Director
$0 $0 $0
CHYDE STRAND PRESIDENT 1.00
Officer Director
$0 $0 $0
ARLEN SUMNER TREASURER 1.00
Officer 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 $20,987 $21,266 $395,632 $-279
2023 $20,473 $34,610 $348,665 $-14,137
2022 $25,949 $70,017 $313,532 $-44,068
2021 $17,693 $33,791 $424,360 $-16,098
2020 $15,830 $4,011 $395,173 $11,819
2019 $13,353 $3,678 $340,236 $9,675
2018 $13,889 $29,597 $286,106 $-15,708
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