CARLTON FIRE RELIEF ASSOCIATION

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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

1939

Legal Domicile

Principal Officer

ANNAMARIE PSYCK

Phone

2183844158

Tax Period

2024-01-01 to 2024-12-31

CARLTON FIRE RELIEF ASSOCIATION, founded in 1939, is a micro nonprofit in the Public Safety sector that reported $92K in total revenue in fiscal year 2024. Revenue surged 92% from the prior year, signaling strong growth momentum. The organization ran a surplus of $73K, a strong 79% operating margin.

Mission

SPECIAL PENSION TRUST FUND TO PROVIDE RETIREMENT, DEPENDENCY, AND DISABILITY ANNUITY PAYMENTS FOR THE MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $15,728

RETIREMENT, DEPENDENCY, AND DISABILITY PAYMENTS 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 $44,873

Program Service Revenue $0

Investment Income $34,970

Other Revenue $12,141

TOTAL REVENUE $91,984

Expense Breakdown

Grants Paid $599

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $15,728

Other Expenses $18,659

TOTAL EXPENSES $19,258

Year-over-Year Comparison

	2024	2023	Change
Revenue	$91,984	$48,018	+0.9%
Expenses	$19,258	$18,203	+0.1%
Net Income	$72,726	$29,815	+1.4%

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

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
ERIK BERGSTEDT	SECRETARY	3.00	Officer Director	$0	$0	$0
ANNAMARIE PSYCK	TREASURER	3.00	Officer Director	$0	$0	$0
TIMOTHY JESSEN	PRESIDENT	1.00	Officer Director	$0	$0	$0
CURTIS KLEVER	FORMER TREASURER	1.00		$0	$0	$0
BEN NILSEN	TRUSTEE	0.50	Director	$0	$0	$0
BRIAN SCHUBITZKE	TRUSTEE	0.50	Director	$0	$0	$0
TRAVIS POLO	TRUSTEE	0.50	Director	$0	$0	$0
CAROL CONWAY	CITY CLERK	1.00	Director	$0	$0	$0
MIKE SODERSTROM	MAYOR	1.00	Director	$0	$0	$0
DEREK WOLF	FIRE CHEIF	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
2025	No data	No data	No data	No data
2024	$91,984	$19,258	$1,094,959	$72,726
2023	$48,018	$18,203	$937,587	$29,815
2022	$49,254	$21,444	$776,984	$27,810
2021	$58,122	$33,949	$876,637	$24,173
2020	$56,395	$17,915	$769,216	$38,480
2019	$48,324	$16,963	$652,245	$31,361
2018	$44,459	$9,125	$537,519	$35,334