RICHMOND FIREFIGHTER & RELIEF ASSOC

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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

1996

Legal Domicile

Principal Officer

TONY TERWEY

Phone

3205971987

Tax Period

2025-01-01 to 2025-12-31

RICHMOND FIREFIGHTER & RELIEF ASSOC, founded in 1996, is a micro nonprofit in the Public Safety sector that reported $84K in total revenue in fiscal year 2025. Revenue decreased 11% compared to the prior year. The organization ran a surplus of $60K, a strong 71% operating margin.

Mission

DEFINED BENEFIT PLAN FOR THE VOLUNTEER FIREFIGHTERS OF RICHMOND, MN AND THE SURROUNDING TOWNSHIPS.

Program Service Accomplishments

Program 1

Expenses: $4,260

PAYMENT OF RETIREMENT BENEFITS FOR MEMBERS OF THE RELIEF ASSOCIATION

Program 2

Expenses: $10,993

PAYMENT OF RETIREMENT BENEFITS FOR MEMBERS OF THE RELIEF 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 (2025)

Revenue Breakdown

Contributions & Grants $35,529

Program Service Revenue $0

Investment Income $21,069

Other Revenue $27,381

TOTAL REVENUE $83,979

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,500

Fundraising Expenses $0

Program Expenses $15,253

Other Expenses $20,776

TOTAL EXPENSES $24,276

Year-over-Year Comparison

	2025	2024	Change
Revenue	$83,979	$93,956	-0.1%
Expenses	$24,276	$20,480	+0.2%
Net Income	$59,703	$73,476	-0.2%

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
STACY KALTHOFF	CITY REPRESE	N/A	Director	$0	$0	$0
MARK KREMER	DIRECTOR	N/A	Director	$0	$0	$0
CHUCK MERTEN	DIRECTOR	N/A	Director	$0	$0	$0
DEREK MUELLER	DIRECTOR	N/A	Director	$0	$0	$0
RANDY SCHACKMANN	DIRECTOR	N/A	Director	$0	$0	$0
BRANDON ERICKSON	SECRETARY	N/A	Officer	$0	$0	$0
ANDY GAPINSKI	TREASURER	N/A	Officer	$0	$0	$0
TONY TERWEY	PRESIDENT	N/A	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
2025	$83,979	$24,276	$876,411	$59,703
2024	$93,956	$20,480	$812,758	$73,476
2023	$47,356	$19,136	$739,282	$28,220
2022	$49,729	$51,476	$711,462	$-1,747
2021	$81,593	$27,474	$713,209	$54,119
2020	$68,102	$54,052	$659,090	$14,050
2018	$63,120	$13,878	$591,077	$49,242