TOWER FIREMENS RELIEF ASSOCIATION

EIN: 411619085

TOWER, MN

Total Revenue
$5,032
Total Expenses
N/A
Total Assets
$26,433
Net Assets
$26,433
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1943
Legal Domicile
MN
Principal Officer
STEVEN OLSON
Phone
2187534070
Tax Period
2024-01-01 to 2024-12-31

TOWER FIREMENS RELIEF ASSOCIATION, founded in 1943, is a micro nonprofit that reported $5K in total revenue in fiscal year 2024. Revenue fell 56% from the prior year — a significant decline worth monitoring.

Mission

To administer a defined benefit pension plan covering members of the Association.

Program Service Accomplishments

Program 1

The Relief Association TRANSFERED pension FUNDS TO THE PUBLIC EMPLOYEE RETIREMENT ASSOCIATION OF MINNESOTA FOR MEMBERS RETIREMENT. PROCEEDS FROM GAMBLING ACTIVITIES ARE USED FOR COMMUNITY ENRICHMENT...

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The Relief Association TRANSFERED pension FUNDS TO THE PUBLIC EMPLOYEE RETIREMENT ASSOCIATION OF MINNESOTA FOR MEMBERS RETIREMENT. PROCEEDS FROM GAMBLING ACTIVITIES ARE USED FOR COMMUNITY ENRICHMENT AND CHARITABLE DONATIONS.

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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 $0
Program Service Revenue $0
Investment Income $0
Other Revenue $5,032
TOTAL REVENUE $5,032

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $0
TOTAL EXPENSES $0

Year-over-Year Comparison

2024 2023 Change
Revenue $5,032 $11,463 -0.6%
Expenses N/A $320 -1.0%
Net Income N/A $11,143 N/A
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

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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
8
Independent Members
8
Employees
5
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
7
$45,747
Total Directors
7
$45,747
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JESSE HINKEL Treasurer 1.00
Officer Director
$29,449 $0 $29,449
SHAWN GAWBOY ASST GAMBL MGR 1.00
Officer Director
$8,244 $0 $8,244
PAIGE OLSON FIRE CHIEF & GM 1.00
Officer Director
$5,594 $0 $5,594
STEVEN OLSON President 1.00
Officer Director
$1,500 $0 $1,500
RANDALL JOHNSON FMR TREASURER 1.00
Officer Director
$960 $0 $960
TERRI JOKI-MARTIN SECRETARY 1.00
Officer Director
$0 $0 $0
JORDAN PURKAT Vice President 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
2025 No data No data No data No data
2024 $5,032 No data $26,433 No data
2023 $11,463 $320 $21,476 $11,143
2022 $-3,997 No data $10,333 No data
2021 $10,613 $315 $14,330 $10,298
2020 $-3,889 $8,785 $4,032 $-12,674
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