North Mankato Firefighter's Relief Association (EIN 416058900) - Form 990 Financial Analysis & Trantor Score

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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

1965

Legal Domicile

Principal Officer

Greg Thate

Phone

5073800619

Tax Period

2024-01-01 to 2024-12-31

North Mankato Firefighter's Relief Association, founded in 1965, is a small nonprofit in the Public Safety sector that reported $413K in total revenue in fiscal year 2024. The organization ran a surplus of $331K, a strong 80% operating margin.

Mission

To provide retirement benefits 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 (2024)

Revenue Breakdown

Contributions & Grants $167,037

Program Service Revenue $0

Investment Income $211,456

Other Revenue $34,664

TOTAL REVENUE $413,157

Expense Breakdown

Grants Paid $34,576

Salaries & Benefits $2,896

Fundraising Expenses $0

Program Expenses $70,944

Other Expenses $35,623

TOTAL EXPENSES $82,170

Year-over-Year Comparison

	2024	2023	Change
Revenue	$413,157	$384,830	+0.1%
Expenses	$82,170	$243,138	-0.7%
Net Income	$330,987	$141,692	+1.3%

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

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

$1,797

Total Directors

$2,297

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Greg Thate	President	2.00	Officer Director	$0	$599	$599
John Slater Jr	Vice President	1.00	Officer Director	$0	$0	$0
Tom Eesley	Secretary	2.00	Officer Director	$0	$599	$599
Mike Fasnacht	Treasurer	3.00	Officer Director	$0	$599	$599
Jordan Carver	Trustee	1.00	Director	$0	$250	$250
Tom Rauchman	Trustee	1.00	Director	$0	$250	$250

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	$413,157	$82,170	$4,299,632	$330,987
2023	$384,830	$243,138	$3,808,117	$141,692
2022	$272,910	$51,601	$3,376,485	$221,309
2021	$424,582	$18,162	$3,921,275	$406,420
2020	$220,901	$99,830	$3,332,509	$121,071
2019	$258,209	$52,699	$2,983,464	$205,510
2018	$244,812	$43,883	$2,437,554	$200,929

North Mankato Firefighter's Relief Association