Lake Elmo Firefighters Relief Association (EIN 416077988) - 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

1962

Legal Domicile

Principal Officer

Michael Schwarz

Phone

6513388575

Tax Period

2023-01-01 to 2023-12-31

Lake Elmo Firefighters Relief Association, founded in 1962, is a small nonprofit that reported $348K in total revenue in fiscal year 2023. Revenue surged 372% from the prior year, signaling strong growth momentum. The organization ran a surplus of $276K, a strong 79% 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 (2023)

Revenue Breakdown

Contributions & Grants $118,713

Program Service Revenue $0

Investment Income $228,954

Other Revenue $0

TOTAL REVENUE $347,667

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,500

Fundraising Expenses $0

Program Expenses $51,072

Other Expenses $17,208

TOTAL EXPENSES $71,312

Year-over-Year Comparison

	2023	2022	Change
Revenue	$347,667	$73,586	+3.7%
Expenses	$71,312	$142,953	-0.5%
Net Income	$276,355	$-69,367	-5.0%

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

$5,000

Total Directors

$5,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Schwarz	President	1.00	Officer Director	$2,000	$0	$2,000
Dale Klitkze	Vice President	1.00	Officer Director	$1,500	$0	$1,500
Matt Watt	Secretary	1.00	Officer Director	$0	$0	$0
Doug Lovett	Treasurer	1.00	Officer Director	$1,500	$0	$1,500
Chris Klein	Trustee	1.00	Director	$0	$0	$0
Robin Goodspeed	Trustee	1.00	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
2023	$347,667	$71,312	$172,438	$276,355
2022	$73,586	$142,953	$1,311,328	$-69,367
2021	$188,945	$31,693	$1,501,584	$157,252
2020	$109,122	$31,587	$1,327,483	$77,535
2019	$92,193	$280,999	$1,164,901	$-188,806
2018	$97,107	$130,785	$1,235,500	$-33,678

Lake Elmo Firefighters Relief Association