HALSTAD FIREMEN'S RELIEF ASSOCIATI… - Form 990 Financial Data

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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

1957

Legal Domicile

Principal Officer

CHARLES AARESTAD

Phone

7014300501

Tax Period

2025-01-01 to 2025-12-31

HALSTAD FIREMEN'S RELIEF ASSOCIATION, founded in 1957, is a small nonprofit that reported $107K in total revenue in fiscal year 2025. Net assets of $224K represent 25 months of operating reserves.

Mission

PROVIDING RETIREMENT BENEFITS TO VOLUNTEER FIREFIGHTERS, SUPPORTING THE LOCAL VOLUNTEER FIRE DEPARTMENT AND PROVIDING FUNDING FOR CHARITABLE CAUSES.

Program Service Accomplishments

Program 1

Expenses: $36,350 Revenue: $0

CHARITABLE GAMBLING GENERATED $34,060 IN GRANTS PAID OUT TO THE LOCAL VOLUNTEER FIRE DEPARTMENT, SCHOOLS, AND OTHER CHARITABLE CAUSES.

Program 2

Expenses: $20,805 Revenue: $0

FIRE PREVENTION EDUCATION AND PROMOTION.

Program 3

Expenses: $14,352 Revenue: $0

STATE FIRE AID IS INVESTED TO PROVIDE BENEFITS FOR RETIRING FIRE FIGHTERS.

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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 $22,294

Program Service Revenue $0

Investment Income $7,937

Other Revenue $76,394

TOTAL REVENUE $106,625

Expense Breakdown

Grants Paid $35,750

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $71,507

Other Expenses $53,582

TOTAL EXPENSES $103,684

Year-over-Year Comparison

	2025	2024	Change
Revenue	$106,625	$107,207	0.0%
Expenses	$103,684	$40,905	+1.5%
Net Income	$2,941	$66,302	-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

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
CHARLES AARESTAD	PRESIDENT	2.00	Officer Director	$0	$0	$0
RANDY WESTCOTT	SECRETARY	1.00	Officer Director	$0	$0	$0
CHAD TICE	TREASURER	1.00	Officer Director	$0	$0	$0
TODD WESTCOTT	DIRECTOR	1.00	Director	$0	$0	$0
DONNA SCHOLL	BOARD/CITY COUNCIL	1.00	Director	$0	$0	$0
BRANDON MICKELSON	BOARD/CITY COUNCIL	1.00	Director	$0	$0	$0
SHANE CARLSON	DIRECTOR	1.00	Director	$0	$0	$0
GAYLORD CHRISTIANSON	FIRE CHIEF	1.00	Director	$0	$0	$0
SPENCER CHRISTIANSON	DIRECTOR	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	$106,625	$103,684	$465,806	$2,941
2024	No data	No data	No data	No data
2023	No data	No data	No data	No data
2022	$58,835	$6,103	$372,717	$52,732
2021	$39,939	$32,676	$319,729	$7,263
2020	$23,464	$2,742	$313,438	$20,722
2019	$34,952	$3,612	$291,432	$31,340
2018	$21,679	$16,402	$260,092	$5,277

HALSTAD FIREMEN'S RELIEF ASSOCIATION