Greenway Fire & Rescue Association

EIN: 416038956

Calumet, MN

Total Revenue
$49,421
Total Expenses
$25,142
Total Assets
$522,245
Net Assets
$522,245
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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
1990
Legal Domicile
MN
Principal Officer
Spencer Hernesmon
Phone
2182562771
Tax Period
2024-01-01 to 2024-12-31

Greenway Fire & Rescue Association, founded in 1990, is a micro nonprofit that reported $49K in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $24K, a strong 49% operating margin.

Mission

Relief Association holding pension funds for members of the Greenway Fire Department

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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 $18,663
Program Service Revenue $0
Investment Income $30,758
Other Revenue $0
TOTAL REVENUE $49,421

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,200
Fundraising Expenses $0
Program Expenses $16,750
Other Expenses $7,192
TOTAL EXPENSES $25,142

Year-over-Year Comparison

2024 2023 Change
Revenue $49,421 $40,935 +0.2%
Expenses $25,142 $48,372 -0.5%
Net Income $24,279 $-7,437 -4.3%
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

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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
22

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
2
$1,200
Total Directors
4
$1,200
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Chris Parks President 1.00
Officer Director
$0 $0 $0
Ladd Finke Fire Chief 1.00
Director
$0 $0 $0
Thomas Bonk Board member 1.00
Director
$0 $0 $0
Spencer Hernesman Secretary 1.00
Officer Director
$1,200 $0 $1,200
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
2024 $49,421 $25,142 $522,245 $24,279
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