THE HASTINGS FIRE DEPARTMENT RELIE… - 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

1924

Legal Domicile

Principal Officer

ALAN E STORLIE

Phone

6514806150

Tax Period

2022-01-01 to 2022-12-31

THE HASTINGS FIRE DEPARTMENT RELIEF ASSOCIATION, founded in 1924, is a small nonprofit in the Public Safety sector that reported $349K in total revenue in fiscal year 2022. Revenue fell 38% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $243K, a strong 70% operating margin.

Mission

TO PROVIDE PENSION AND DISABILITY BENEFITS TO ASSOCIATIONS MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $24,800 Revenue: $0

SPECIAL PENSION TRUST FUND:THE SPECIAL PENSION TRUST FUND IS A PENSION TRUST FUND FOR THE ACCUMULATION OF RESOURCES TO BE USED FOR RETIREMENT, DEPENDENCY AND DISABILITY ANNUITY PAYMENTS OF...

SPECIAL PENSION TRUST FUND:THE SPECIAL PENSION TRUST FUND IS A PENSION TRUST FUND FOR THE ACCUMULATION OF RESOURCES TO BE USED FOR RETIREMENT, DEPENDENCY AND DISABILITY ANNUITY PAYMENTS OF APPROPRIATE AMOUNTS AND AT APPROPRIATE TIMES IN THE FUTURE. RESOURCES ARE CONTRIBUTED BY THE CITY OF HASTINGS AT AMOUNTS DETERMINED BY LAW, AND FROM THE 2% INSURANCE PREMIUM TAX AND AMORTIZATION AID FROM THE STATE OF MINNESOTA. NET ASSETS OF THE SPECIAL PENSION TRUST FUND ARE HELD IN TRUST FOR PENSION BENEFITS.

Program 2

Expenses: $29,174 Revenue: $0

GENERAL FUND (MAJOR FUND):THE GENERAL FUND IS A GOVERNMENTAL FUND WHICH ACCOUNTS FOR THE RESOURCES OTHER THAN THOSE IN THE SPECIAL PENSION TRUST FUND. IT IS USED FOR THE GOOD AND BENEFIT OF THE...

GENERAL FUND (MAJOR FUND):THE GENERAL FUND IS A GOVERNMENTAL FUND WHICH ACCOUNTS FOR THE RESOURCES OTHER THAN THOSE IN THE SPECIAL PENSION TRUST FUND. IT IS USED FOR THE GOOD AND BENEFIT OF THE ASSOCIATION AS DETERMINED BY ASSOCIATION BY-LAWS. ITS RESOURCES CONSIST OF FUND-RAISER PROCEEDS, DONATIONS, INVESTMENT EARNINGS AND MISCELLANEOUS SOURCES. NET ASSETS OF THE GENERAL FUND ARE UNRESTRICTED.

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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 (2022)

Revenue Breakdown

Contributions & Grants $228,371

Program Service Revenue $0

Investment Income $97,056

Other Revenue $23,434

TOTAL REVENUE $348,861

Expense Breakdown

Grants Paid $28,575

Salaries & Benefits $8,070

Fundraising Expenses $0

Program Expenses $53,974

Other Expenses $44,707

TOTAL EXPENSES $106,152

Year-over-Year Comparison

	2022	2021	Change
Revenue	$348,861	$565,559	-0.4%
Expenses	$106,152	$405,822	-0.7%
Net Income	$242,709	$159,737	+0.5%

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

$6,586

Total Directors

$7,576

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CRAIG LATCH	TREASURER	4.00	Officer Director	$3,156	$0	$3,156
TIM LIKES	SECRETARY	2.00	Officer Director	$1,340	$0	$1,340
ALAN STORLIE	PRESIDENT	0.80	Officer Director	$1,100	$0	$1,100
ROBERT WARGO	VICE PRESIDENT	0.50	Officer Director	$990	$0	$990
KAITLYN NEUMAN	TRUSTEE	0.80	Director	$0	$0	$0
MARY FASBENDER	EX-OFFICIO	0.50	Director	$0	$0	$0
KELLY MURTAUGH	EX-OFFICIO	0.50	Director	$0	$0	$0
JOHN TOWNSEND	EX-OFFICIO	0.50	Director	$0	$0	$0
JEREMY PAUL BICKNER	TRUSTEE	0.80	Director	$990	$0	$990

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
2022	$348,861	$106,152	$4,890,430	$242,709
2021	$565,559	$405,822	$5,282,202	$159,737
2020	$411,650	$443,647	$4,884,942	$-31,997
2019	$436,163	$525,367	$4,547,772	$-89,204
2018	$316,910	$382,615	$4,073,756	$-65,705

THE HASTINGS FIRE DEPARTMENT RELIEF ASSOCIATION