TWO HARBORS VOLUNTEER FIREMEN'S RELIEF ASSOCIATION

EIN: 416039747 Public Safety

TWO HARBORS, MN

Total Revenue
$96,506
Total Expenses
$46,517
Total Assets
$1,136,463
Net Assets
$1,133,221
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1936
Legal Domicile
MN
Principal Officer
GREG SWANSON
Phone
2188343136
Tax Period
2023-01-01 to 2023-12-31

TWO HARBORS VOLUNTEER FIREMEN'S RELIEF ASSOCIATION, founded in 1936, is a micro nonprofit in the Public Safety sector that reported $97K in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $50K, a strong 52% operating margin.

Mission

THE PURPOSE OF THE TWO HARBORS VOLUNTEER FIREMEN'S RELIEF ASSOCIATION IS TO PROVIDE BENEFEITS TO MEMBERS.

Program Service Accomplishments

Program 1
Expenses: $27,297 Revenue: $719

TO PROVIDE BENEFITS UPON SICKNESS, DISABILITY, AND RETIREMENT. DURING THE YEAR, THERE WERE 21 ACTIVE MEMBERS AND 8 INACTIVE MEMBERS WHO ARE DEFERRED.

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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 (2023)

Revenue Breakdown

Contributions & Grants $97,736
Program Service Revenue $0
Investment Income $15
Other Revenue $-1,245
TOTAL REVENUE $96,506

Expense Breakdown

Grants Paid $2,500
Salaries & Benefits $1,920
Fundraising Expenses $0
Program Expenses $27,297
Other Expenses $34,643
TOTAL EXPENSES $46,517

Year-over-Year Comparison

2023 2022 Change
Revenue $96,506 $88,217 +0.1%
Expenses $46,517 $61,762 -0.2%
Net Income $49,989 $26,455 +0.9%
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

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Liquidity & Cash Position

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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
21

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
4
$1,920
Total Directors
9
$1,920
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GREG SWANSON PRESIDENT 1.00
Officer Director
$0 $0 $0
MIKE ROUSSEAU VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
NATE GENS SECRETARY 2.00
Officer Director
$0 $960 $960
JESSE MILLER TREASURER 2.00
Officer Director
$0 $960 $960
SCOTT LIBAL TRUSTEE 1.00
Director
$0 $0 $0
CHRIS AHLBECK TRUSTEE 1.00
Director
$0 $0 $0
MARK SCHLANGEN FIRE CHIEF, EX-OFFICIO TRUSTEE 0.25
Director
$0 $0 $0
MAYOR LEW CONNER EX-OFFICIO TRUSTEE 0.25
Director
$0 $0 $0
PATRICIA NORDEAN CITY ADMINISTRATOR, EX-OFFICIO TRUSTEE 0.25
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
2024 No data No data No data No data
2023 $96,506 $46,517 $1,136,463 $49,989
2022 $88,217 $61,762 $916,821 $26,455
2021 $93,639 $24,039 $1,063,704 $69,600
2020 $63,323 $102,587 $869,686 $-39,264
2019 $72,414 $314,334 $778,133 $-241,920
2018 $63,320 $18,195 $864,229 $45,125
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