Civic Intelligence

Loretto Firemen'S Relief Association

990 • Fiscal year 2019 • EIN 41-6084217

Jan 01, 2019 to Dec 31, 2019 • Filed on Oct 21, 2020

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

23rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

23rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Net Margin

97th percentile

83%

Higher net margin than 97% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

61st percentile

$1,000

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2019

Asset Growth

85th percentile

23%

Faster asset growth than 85% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

92nd percentile

71%

Faster revenue growth than 92% of similar nonprofits.

2019 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Up

$2,134,622

Up $405,287 (+23%) from 2018

Net Assets

Up

$2,134,622

Up $405,287 (+23%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin97th percentile

Revenue

Up

$193,380

Up $80,447 (+71%) from 2018

Expenses

Up

$33,202

Up $491 (+1.5%) from 2018

Net Income

Up

$160,178

Up $79,956 (+100%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth85th 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

2019

Assets$2,134,622
Liabilities$0
Net Assets$2,134,622
Open 2019 Filing

Operations Trend

Revenue Growth92nd 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

2019

Revenue$193,380
Expenses$33,202
Net Income$160,178
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 21, 2020
Return Version
2019v5.1
Gross Receipts
$1,833,960
Mission and Program Overview

Mission

To provide retirement benefits to volunteer firefighters.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,728,725$2,134,622▲ $405,897
Accounts Receivable$610--
Total Assets$1,729,335$2,134,622▲ $405,287
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,729,335$2,134,622▲ $405,287
Total Net Assets Fund Balance$1,729,335$2,134,622▲ $405,287
Total Liabilities and Net Assets / Fund Balance$1,729,335$2,134,622▲ $405,287
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleBaseTotal
Nicole WestPresident$1,000$1,000
Scott WendlandTreasurer$600$600
Cody EllosSecretary$600$600

Board Members and Trustees

NameTitle
Jake LeuerVice President
Gregg JohnsonTrustee
Jake LeuerTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$113,262
Program Service Revenue
$0
Investment Income
$80,118
Other Revenue
$0
Change in Net Assets
$160,178

Audited Revenue Reconciliation

Revenue per Audited Statements
$169,221
Revenue Not Reported on Financial Statements
$24,159
Revenue Not Reported on Form 990
$245,109
Total Revenue per Audited Statements
$414,330
Total Revenue per Form 990
$193,380
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$31,002
Salaries, Compensation, and Employee Benefits$2,200
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$24,159-$24,159
Fees for Services Accounting-$6,310-$6,310
Current Officers, Directors, Trustees, and Key Employees-$2,200-$2,200
Insurance$533--$533
Total Functional Expenses$533$32,669$0$33,202

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$33,202
Expenses Not Reported on Financial Statements$24,159
Expenses per Audited Statements$9,043
Total Expenses per Audited Statements$9,043
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 35% controlled entity
No
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 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
2020-10-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicole West
Formed
1951
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
28

Preparer

Firm
Abdo Eick & Meyers
Address
5201 Eden Avenue Suite 250, Edina, MN 55436
Preparer
Steven D Anseth CPA
Phone
9528359090
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:

“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, 2019, 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 2016.”

Raw XML Appendix321 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The 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, 2019, 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 2016.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization is comprised of members of the volunteer fire department.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The members elect the members of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Decisions affecting investments, bylaws, etc are approved by the members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 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/ExplanationTxt4The organization makes its governing documents and financial statements available to the public upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The board of directors assumes responsibility for oversight of the audit.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XII, Line 2C
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IRS990/TotalReportableCompFromOrgAmt02200
IRS990/TotalRevenueGrp/ExclusionAmt080118
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0193380
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt028
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01729335
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02134622
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 305
IRS990/USAddress/CityNm0Loretto
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd0553570305
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02022-01-07 14:23:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Nicole West
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum06122013593
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-21
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/AtSubmissionCreationDeviceId0811770E961CD0BE7303F7EADE6696A154B380F16
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AAFC36B437E947E928230CA20FEBB25B603AD192
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.88.174.3
ReturnHeader/FilingSecurityInformation/IPDt02020-10-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm008:46:20
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411397419
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Abdo Eick & Meyers
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05201 Eden Avenue Suite 250
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Edina
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055436
ReturnHeader/PreparerPersonGrp/PhoneNum09528359090
ReturnHeader/PreparerPersonGrp/PreparationDt02020-10-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Steven D Anseth CPA
ReturnHeader/ReturnTs02020-11-06T14:57:49-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,134,622
Liabilities
$0
Net assets
$2,134,622
Revenue
$193,380
Expenses
$33,202
Net income
$160,178
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
2019Detailed filing. Detailed filing data is available for this year.$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
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$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