LAKE PARK FIRE RELIEF ASSOCIATION (EIN 455166312) - 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

1944

Principal Officer

MARK PALM

Phone

2188501024

Tax Period

2024-01-01 to 2024-12-31

LAKE PARK FIRE RELIEF ASSOCIATION, founded in 1944, is a small nonprofit that reported $180K in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $86K, a strong 48% operating margin.

Mission

VOLUNTEER FIRE DEPARTMENT RELIEF ASSOCIATION. HAS SPECIAL FUND WHICH IS USED TO PAY SERVICE PENSIONS TO VOLUNTEER FIREFIGHTERS, GENERAL FUND USED FOR FUNDRAISING AND GENERAL ACTIVITIES.

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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 $43,265

Program Service Revenue $0

Investment Income $19,669

Other Revenue $116,695

TOTAL REVENUE $179,629

Expense Breakdown

Grants Paid $81,648

Salaries & Benefits $600

Fundraising Expenses $0

Program Expenses $82,996

Other Expenses $11,036

TOTAL EXPENSES $93,284

Year-over-Year Comparison

	2024	2023	Change
Revenue	$179,629	$157,977	+0.1%
Expenses	$93,284	$117,495	-0.2%
Net Income	$86,345	$40,482	+1.1%

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

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

$600

Total Directors

$7,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK PALM	PRESIDENT	1.00	Officer Director	$0	$0	$0
ADAM WELTER	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
JON ANDERSON	TREASURER	1.00	Officer Director	$600	$0	$600
CHRIS DOSH	TRUSTEE	1.00	Director	$0	$0	$0
JOHN BEAUDINE	MAYOR	4.00	Director	$7,200	$0	$7,200
SARAH MICKELSON	CITY CLERK	1.00	Director	$0	$0	$0
DAVE COUFAL	CHIEF	1.00	Director	$0	$0	$0
JOSH TRETBAR	TRUSTEE	1.00	Director	$0	$0	$0
AARON SCHOBER	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
2024	$179,629	$93,284	$794,443	$86,345
2023	$157,977	$117,495	$644,947	$40,482
2022	$40,859	$87,948	$547,671	$-47,089
2021	$157,189	$114,310	$686,734	$42,879
2020	$71,841	$50,158	$575,311	$21,683
2019	$130,899	$80,431	$514,716	$50,468
2018	$81,406	$80,675	$410,319	$731

LAKE PARK FIRE RELIEF ASSOCIATION