Civic Intelligence

Loretto Firemen'S Relief Association

990 • Fiscal year 2016 • EIN 41-6084217

Jan 01, 2016 to Dec 31, 2016 • Filed on Jun 21, 2017

Organization ProfileN/A
PO Box 305Loretto, MN 55357-0305

(612) 201-3593

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

27th percentile

0.00x

Higher debt load relative to assets than 27% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

34th percentile

0.02x

Higher debt load relative to revenue than 34% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Net Margin

87th percentile

43%

Higher net margin than 87% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

59th percentile

$500

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2016

Asset Growth

77th percentile

11%

Faster asset growth than 77% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

7th percentile

-34%

Faster revenue growth than 7% of similar nonprofits.

2016 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$1,576,773

Up $157,014 (+11%) from 2015

Net Assets

Up

$1,573,579

Up $156,285 (+11%) from 2015

Liabilities

Up

$3,194

Up $729 (+30%) from 2015

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin87th percentile

Revenue

Down

$128,291

Down $66,413 (-34%) from 2015

Expenses

Up

$73,701

Up $15,626 (+27%) from 2015

Net Income

Down

$54,590

Down $82,039 (-60%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2008: $1,055,570Liabilities 2008: $9,137Net Assets 2008: $1,046,4332008Assets 2009: $1,321,950Liabilities 2009: $36Net Assets 2009: $1,321,9142009Assets 2010: $1,364,233Liabilities 2010: $47Net Assets 2010: $1,364,1862010Assets 2011: $1,288,988Liabilities 2011: $63Net Assets 2011: $1,288,9252011Assets 2012: $1,345,590Liabilities 2012: $783Net Assets 2012: $1,344,8072012Assets 2013: $1,324,968Liabilities 2013: $771Net Assets 2013: $1,324,1972013Assets 2014: $1,426,924Liabilities 2014: $0Net Assets 2014: $1,426,9242014Assets 2015: $1,419,759Liabilities 2015: $2,465Net Assets 2015: $1,417,2942015Assets 2016: $1,576,773Liabilities 2016: $3,194Net Assets 2016: $1,573,5792016Assets 2017: $1,822,070Liabilities 2017: $0Net Assets 2017: $1,822,0702017Assets 2018: $1,729,335Liabilities 2018: $0Net Assets 2018: $1,729,3352018Assets 2019: $2,134,622Liabilities 2019: $0Net Assets 2019: $2,134,6222019Assets 2020: $2,345,187Liabilities 2020: $0Net Assets 2020: $2,345,1872020Assets 2021: $2,621,663Liabilities 2021: $0Net Assets 2021: $2,621,6632021Assets 2022: $2,338,428Liabilities 2022: $0Net Assets 2022: $2,338,4282022

Highlighted filing

2016

Assets$1,576,773
Liabilities$3,194
Net Assets$1,573,579
Open 2016 Filing

Operations Trend

Revenue Growth7th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200K-$400KRevenue 2008: -$264,715Expenses 2008: $49,571Net Income 2008: -$314,2862008Revenue 2009: $277,374Expenses 2009: $1,893Net Income 2009: $275,4812009Revenue 2010: $126,792Expenses 2010: $209,586Net Income 2010: -$82,7942010Revenue 2011: $54,892Expenses 2011: $153,107Net Income 2011: -$98,2152011Revenue 2012: $149,452Expenses 2012: $148,034Net Income 2012: $1,4182012Revenue 2013: $176,182Expenses 2013: $312,833Net Income 2013: -$136,6512013Revenue 2014: $160,832Expenses 2014: $51,522Net Income 2014: $109,3102014Revenue 2015: $194,704Expenses 2015: $58,075Net Income 2015: $136,6292015Revenue 2016: $128,291Expenses 2016: $73,701Net Income 2016: $54,5902016Revenue 2017: $176,765Expenses 2017: $110,401Net Income 2017: $66,3642017Revenue 2018: $112,933Expenses 2018: $32,711Net Income 2018: $80,2222018Revenue 2019: $193,380Expenses 2019: $33,202Net Income 2019: $160,1782019Revenue 2020: $137,798Expenses 2020: $30,439Net Income 2020: $107,3592020Revenue 2021: $248,120Expenses 2021: $37,142Net Income 2021: $210,9782021Revenue 2022: $13,055Expenses 2022: $36,584Net Income 2022: -$23,5292022

Highlighted filing

2016

Revenue$128,291
Expenses$73,701
Net Income$54,590
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jun 21, 2017
Return Version
2016v3.0
Gross Receipts
$128,291
Mission and Program Overview

Mission

To provide retirement benefits to volunteer firefighters.

To provide retirement benefits to volunteer firefighters

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$1,418,124$1,573,364▲ $155,240
Pledges and Grants Receivable$1,635$3,409▲ $1,774
Total Assets$1,419,759$1,576,773▲ $157,014
Liabilities
Accounts Payable and Accrued Expenses$2,465$3,194▲ $729
Total Liabilities$2,465$3,194▲ $729
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,417,294$1,573,579▲ $156,285
Total Net Assets Fund Balance$1,417,294$1,573,579▲ $156,285
Total Liabilities and Net Assets / Fund Balance$1,419,759$1,576,773▲ $157,014

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$638,413--
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleBaseTotal
Nicole WestPresident$500$500
Bill RosatiSecretary$300$300

Board Members and Trustees

NameTitle
Noah PatnodeVice President
Jeff LeuerEx-officio trustee
Tim RyanEX-officio trustee
Jake LeuerTrustee
Nate SchlosserTrustee
Scott WendlandTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$94,670
Program Service Revenue
$33,621
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$54,590

Audited Revenue Reconciliation

Revenue per Audited Statements
$109,318
Revenue Not Reported on Financial Statements
$18,973
Revenue Not Reported on Form 990
$101,695
Total Revenue per Audited Statements
$211,013
Total Revenue per Form 990
$128,291
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$26,028
Salaries, Compensation, and Employee Benefits$800
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members$46,873--$46,873
Fees for Service Investment Mgmnt Fees$18,973--$18,973
Fees for Services Accounting$5,895--$5,895
Current Officers, Directors, Trustees, and Key Employees$800--$800
Other Expenses$567--$567
Insurance$533--$533
Office Expenses$60--$60
Total Functional Expenses$73,701$0$0$73,701

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$73,701
Expenses per Audited Statements$54,728
Total Expenses per Audited Statements$54,728
Expenses Not Reported on Financial Statements$18,973
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 1

“Two board members were compensated as officers and were therefore not independent.”

Form 990, Part VI, Section A, line 2

“Jeff and Jake Leuer have a family relationship.”

Form 990, Part VI, Section A, line 6

“The organization is comprised of members of the volunteer fire department”

Form 990, Part VI, Section A, line 7A

“The members elect the members of the governing body”

Form 990, Part VI, Section A, line 7B

“Decisions affecting investments, bylaws, etc are approved by the members”

Form 990, Part VI, Section B, line 11B

“Form 990 is provided to the organization's board of directors for review. After review it is made available to the members for their review”

Form 990, Part VI, Section C, line 19

“The organization makes its governing documents and financial statements available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Loretto Firemen's Relief Association
EIN
41-6084217
Phone
6122013593
Address
PO Box 305, Loretto, MN 55357-0305

Signing Officer

Name
Nicole West
Title
President
Phone
6122013593
Signed
2017-06-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicole West
Formed
1951
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
6
Employees
0
Volunteers
29

Preparer

Firm
Abdo Eick & Meyers LLP
Address
100 Warren St Ste 600, Mankato, MN 56001
Preparer
Thomas J Olinger CPA
Phone
5076252727
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The board of directors assumes responsibility for oversight of the audit”

Financial Statement Notes

Part X, Line 2:

“Income taxes The Organization is a nonprofit organization described in Section 501(c) 4 of the Internal Revenue Code and is exempt from Federal and State income taxes. The Organization has analyzed filing positions with the Internal Revenue Service and the State of Minnesota. The Organization is subject to routine audits by these jurisdictions; however, the Organization is currently not under any audits for any tax periods. The Organization does not anticipate that any of its income tax filing positions would result in a material adverse effect on the Organization's financial condition, results of operations or cash flow. No liability has been recorded for uncertain tax positions. As allowed under accounting principles generally accepted in the United States of America, the Organization would accrue, if applicable, income tax related interest and penalties in income tax expense in the Organization's statement of revenues, expenditures and changes in fund balances. During the year ended December 31, 2016, the Organization did not recognize any interest or penalties. With few exceptions, the Organization is no longer subject to tax examinations by tax authorities for years before 2013.”

Raw XML Appendix345 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Income taxes The Organization is a nonprofit organization described in Section 501(c) 4 of the Internal Revenue Code and is exempt from Federal and State income taxes. The Organization has analyzed filing positions with the Internal Revenue Service and the State of Minnesota. The Organization is subject to routine audits by these jurisdictions; however, the Organization is currently not under any audits for any tax periods. The Organization does not anticipate that any of its income tax filing positions would result in a material adverse effect on the Organization's financial condition, results of operations or cash flow. No liability has been recorded for uncertain tax positions. As allowed under accounting principles generally accepted in the United States of America, the Organization would accrue, if applicable, income tax related interest and penalties in income tax expense in the Organization's statement of revenues, expenditures and changes in fund balances. During the year ended December 31, 2016, the Organization did not recognize any interest or penalties. With few exceptions, the Organization is no longer subject to tax examinations by tax authorities for years before 2013.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Two board members were compensated as officers and were therefore not independent.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Jeff and Jake Leuer have a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization is comprised of members of the volunteer fire department
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The members elect the members of the governing body
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Decisions affecting investments, bylaws, etc are approved by the members
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Form 990 is provided to the organization's board of directors for review. After review it is made available to the members for their review
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The organization makes its governing documents and financial statements available to the public upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7The board of directors assumes responsibility for oversight of the audit
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt01417294
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt01573579
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01419759
IRS990/TotalAssetsEOYAmt01576773
IRS990/TotalAssetsGrp/BOYAmt01419759
IRS990/TotalAssetsGrp/EOYAmt01576773
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt094670
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt073701
IRS990/TotalFunctionalExpensesGrp/TotalAmt073701
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02465
IRS990/TotalLiabilitiesEOYAmt03194
IRS990/TotalLiabilitiesGrp/BOYAmt02465
IRS990/TotalLiabilitiesGrp/EOYAmt03194
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01417294
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01573579
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt073701
IRS990/TotalProgramServiceRevenueAmt033621
IRS990/TotalReportableCompFromOrgAmt0800
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt033621
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0128291
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt029
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01419759
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01576773
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 305
IRS990/USAddress/CityNm0Loretto
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd0553570305
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Nicole West
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum06122013593
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-06-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Loretto Firemen's Relief Association
ReturnHeader/Filer/BusinessNameControlTxt0LORE
ReturnHeader/Filer/EIN0416084217
ReturnHeader/Filer/PhoneNum06122013593
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 305
ReturnHeader/Filer/USAddress/CityNm0Loretto
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd0553570305
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId06BFFA3625D11521A7CFC619F83E5A3BD58E670E6
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0A80044FD7D61B731965A55C4047F3CE6AC88E511
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.88.174.3
ReturnHeader/FilingSecurityInformation/IPDt02017-06-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm008:02:10
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411397419
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Abdo Eick & Meyers LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 Warren St Ste 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Mankato
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd056001
ReturnHeader/PreparerPersonGrp/PhoneNum05076252727
ReturnHeader/PreparerPersonGrp/PreparationDt02017-06-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Thomas J Olinger CPA
ReturnHeader/ReturnTs02017-07-10T16:40:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,576,773
Liabilities
$3,194
Net assets
$1,573,579
Revenue
$128,291
Expenses
$73,701
Net income
$54,590
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.34$0.00$2.34$0.01$0.04$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.62$0.00$2.62$0.25$0.04$0.21
2020Summary only. Only limited summary data is available for this year.$2.35$0.00$2.35$0.14$0.03$0.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.13$0.00$2.13$0.19$0.03$0.16
2018Summary only. Only limited summary data is available for this year.$1.73$0.00$1.73$0.11$0.03$0.08
2017Summary only. Only limited summary data is available for this year.$1.82$0.00$1.82$0.18$0.11$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.58$0.00$1.57$0.13$0.07$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.42$0.00$1.42$0.19$0.06$0.14
2014Detailed filing. Detailed filing data is available for this year.$1.43$0.00$1.43$0.16$0.05$0.11
2013Summary only. Only limited summary data is available for this year.$1.32$0.00$1.32$0.18$0.31$0.14
2012Summary only. Only limited summary data is available for this year.$1.35$0.00$1.34$0.15$0.15$0.00
2011Summary only. Only limited summary data is available for this year.$1.29$0.00$1.29$0.05$0.15$0.10
2010Summary only. Only limited summary data is available for this year.$1.36$0.00$1.36$0.13$0.21$0.08
2009Summary only. Only limited summary data is available for this year.$1.32$0.00$1.32$0.28$0.00$0.28
2008Summary only. Only limited summary data is available for this year.$1.06$0.01$1.05$0.26$0.05$0.31