FIREMANS RELIEF ASSOCIATION OF STEP

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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

2010

Legal Domicile

Principal Officer

KOREY SUNDBY

Tax Period

2023-01-01 to 2023-12-31

FIREMANS RELIEF ASSOCIATION OF STEP, founded in 2010, is a micro nonprofit in the Mutual Benefit sector that reported $93K in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $71K, a strong 76% operating margin.

Mission

PROVIDE EMERGENCY FIRE SERVICES

Program Service Accomplishments

Program 1

Expenses: $22,227

PROVIDE FIRE EQUIPMENT, PERSONNEL, TRAINING AND EDUCATION TO PROVIDE EMERGENCY FIRE SERVICES TO RESIDENTS IN AND SURROUNDING THE STEPHEN MN AREA.

Program 2

Expenses: $42

PROVIDE RETIREMENT SERVICES TO VOLUNTEER FIREFIGHTERS

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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 (2023)

Revenue Breakdown

Contributions & Grants $50,511

Program Service Revenue $0

Investment Income $33,922

Other Revenue $8,754

TOTAL REVENUE $93,187

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $22,269

Other Expenses $22,269

TOTAL EXPENSES $22,269

Year-over-Year Comparison

	2023	2022	Change
Revenue	$93,187	$69,650	+0.3%
Expenses	$22,269	$114,127	-0.8%
Net Income	$70,918	$-44,477	-2.6%

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
KRISTEN GAJESKI	EX OFFICIO MEMBER	0.50	Officer	$0	$0	$0
SHAWN ROMINSKI	EX OFFICIO MEMBER	0.50	Officer	$0	$0	$0
DAVID MCGLYNN	EX OFFICIO MEMBER	0.50	Officer	$0	$0	$0
KEITH SZCZEPANSKI	VICE PRESIDENT	0.50	Officer	$0	$0	$0
KOREY SUNDBY	SECRETARY	1.00	Officer	$0	$0	$0
KIRK LARSON	PRESIDENT	1.00	Officer	$0	$0	$0
KEVIN KUZNIA	TREASURER	1.00	Officer	$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	$93,187	$22,269	$687,985	$70,918
2022	$69,650	$114,127	$617,067	$-44,477
2021	$107,578	$42,104	$662,744	$65,474
2020	$111,911	$12,496	$596,070	$99,415