Civic Intelligence

Lake Park Fire Relief Association

990 • Fiscal year 2020 • EIN 45-5166312

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 13, 2021

Organization ProfileN/A
PO Box 435Lake Park, MN 56554-0435

(218) 850-1024

Siviq Scores

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

Liabilities / Assets

28th percentile

0.00x

Higher debt load relative to assets than 28% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

30th percentile

0.00x

Higher debt load relative to revenue than 30% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Net Margin

76th percentile

30%

Higher net margin than 76% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

61st percentile

$0

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2020

Asset Growth

72nd percentile

12%

Faster asset growth than 72% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

8th percentile

-45%

Faster revenue growth than 8% of similar nonprofits.

2020 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$575,311

Up $60,595 (+12%) from 2019

Net Assets

Up

$575,121

Up $61,516 (+12%) from 2019

Liabilities

Down

$190

Down $921 (-83%) from 2019

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin76th percentile

Revenue

Down

$71,841

Down $59,058 (-45%) from 2019

Expenses

Down

$50,158

Down $30,273 (-38%) from 2019

Net Income

Down

$21,683

Down $28,785 (-57%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

$800K$600K$400K$200K$0Assets 2016: $385,147Liabilities 2016: $0Net Assets 2016: $385,1472016Assets 2018: $410,319Liabilities 2018: $5,030Net Assets 2018: $405,2892018Assets 2019: $514,716Liabilities 2019: $1,111Net Assets 2019: $513,6052019Assets 2020: $575,311Liabilities 2020: $190Net Assets 2020: $575,1212020Assets 2021: $686,734Liabilities 2021: $304Net Assets 2021: $686,4302021Assets 2022: $547,671Liabilities 2022: $11,652Net Assets 2022: $536,0192022Assets 2023: $644,947Liabilities 2023: $0Net Assets 2023: $644,9472023Assets 2024: $794,443Liabilities 2024: $0Net Assets 2024: $794,4432024

Highlighted filing

2020

Assets$575,311
Liabilities$190
Net Assets$575,121
Open 2020 Filing

Operations Trend

Revenue Growth8th percentile

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

$200K$100K$0-$100KRevenue 2016: $67,670Expenses 2016: $4,490Net Income 2016: $63,1802016Revenue 2018: $81,406Expenses 2018: $80,675Net Income 2018: $7312018Revenue 2019: $130,899Expenses 2019: $80,431Net Income 2019: $50,4682019Revenue 2020: $71,841Expenses 2020: $50,158Net Income 2020: $21,6832020Revenue 2021: $157,189Expenses 2021: $114,310Net Income 2021: $42,8792021Revenue 2022: $40,859Expenses 2022: $87,948Net Income 2022: -$47,0892022Revenue 2023: $157,977Expenses 2023: $117,495Net Income 2023: $40,4822023Revenue 2024: $179,629Expenses 2024: $93,284Net Income 2024: $86,3452024

Highlighted filing

2020

Revenue$71,841
Expenses$50,158
Net Income$21,683
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 13, 2021
Return Version
2020v4.0
Gross Receipts
$1,078,199
Mission and Program Overview

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$513,605$575,121▲ $61,516
Investments in Publicly Traded Securities$391,567$479,605▲ $88,038
Savings and Temporary Cash Investments$60,446$64,335▲ $3,889
Cash and Non-Interest-Bearing Accounts$55,730$27,111▼ $28,619
Land, Buildings, and Equipment, Net$6,583$4,260▼ $2,323
Prepaid Expenses and Deferred Charges$390--
Total Assets$514,716$575,311▲ $60,595
Liabilities
Accounts Payable and Accrued Expenses$1,111$190▼ $921
Total Liabilities$1,111$190▼ $921
Net Assets / Fund Balance
Total Net Assets Fund Balance$513,605$575,121▲ $61,516
Total Liabilities and Net Assets / Fund Balance$514,716$575,311▲ $60,595

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,260$12,003$16,263
Compensation and Service Providers
Top Officer Pay61st percentile

Board Members and Trustees

NameTitle
Mark PalmPresident
Robin JohnsonSecretary
Jon AndersonTreasurer
Adam WelterVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$28,878
Program Service Revenue
$0
Investment Income
$18,882
Other Revenue
$24,081
Change in Net Assets
$21,683

Audited Revenue Reconciliation

Revenue per Audited Statements
$71,841
Total Revenue per Audited Statements
$71,841
Total Revenue per Form 990
$71,841
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$35,050
Other Expenses$15,108
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$35,050--$35,050
Fees for Service Investment Mgmnt Fees$2,237$2,238-$4,475
Fees for Services Accounting$1,350$1,350-$2,700
Depreciation Depletion$2,323--$2,323
Other Expenses$1--$1
Total Functional Expenses$46,570$3,588$0$50,158

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$50,158
Total Expenses per Audited Statements$50,158
Total Expenses per Form 990$50,158
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$1,016,334
Gaming Direct Expenses$1,006,358
Fundraising Gross Income$14,105
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
Yes
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, Page 6, Part VI, Line 6

“Members consist of volunteer fire fighters”

Form 990, Page 6, Part VI, Line 7A

“Input sought from membership with final approval made by the board of directors.”

Form 990, Page 6, Part VI, Line 7B

“Input sought from members with final approval made by the board.”

Form 990, Page 6, Part VI, Line 11B

“A copy of the 990 is provided at board meeting for board members to review and approve.”

Form 990, Page 6, Part VI, Line 19

“990 is availble for review upon request”

Filing and Contact Details

Filer

Filer Name
Lake Park Fire Relief Association
EIN
45-5166312
Phone
2188501024
Address
PO BOX 435, LAKE PARK, MN 56554-0435

Signing Officer

Name
Jon Anderson
Title
Treasurer
Phone
2188501024
Signed
2021-09-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Palm
Formed
1944
Voting Board Members
4
Independent Board Members
4
Employees
7
Volunteers
22

Preparer

Firm
Carlsonsv Llp
Address
2450 COLLEGE WAY, FERGUS FALLS, MN 56537
Preparer
Dean Birkeland CPA
Phone
2187393267
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is exempt from state and federal income taxes under section 501(c)(4) of the internal revenue code. However, the organization is required to pay state and federal income taxes on unrelated business income. Under the regulatory method, income taxes are expensed when paid. The organization's tax returns are subject to possible examination by taxing authorities. With few exceptions, the tax returns essentially remain open for possible examination for a period of three years after the respective filing deadline of those returns. At december 31, 2020, the organization has net operating loss carryforwards available to reduce future unrelated business income taxes of approximately 31,000 which begin to expire in 2039.”

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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 EXEMPT FROM STATE AND FEDERAL INCOME TAXES UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. HOWEVER, THE ORGANIZATION IS REQUIRED TO PAY STATE AND FEDERAL INCOME TAXES ON UNRELATED BUSINESS INCOME. UNDER THE REGULATORY METHOD, INCOME TAXES ARE EXPENSED WHEN PAID. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO POSSIBLE EXAMINATION BY TAXING AUTHORITIES. WITH FEW EXCEPTIONS, THE TAX RETURNS ESSENTIALLY REMAIN OPEN FOR POSSIBLE EXAMINATION FOR A PERIOD OF THREE YEARS AFTER THE RESPECTIVE FILING DEADLINE OF THOSE RETURNS. AT DECEMBER 31, 2020, THE ORGANIZATION HAS NET OPERATING LOSS CARRYFORWARDS AVAILABLE TO REDUCE FUTURE UNRELATED BUSINESS INCOME TAXES OF APPROXIMATELY 31,000 WHICH BEGIN TO EXPIRE IN 2039.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INPUT SOUGHT FROM MEMBERS WITH FINAL APPROVAL MADE BY THE BOARD.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0514716
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IRS990/TotalAssetsGrp/BOYAmt0514716
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IRS990/TotalContributionsAmt028878
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IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt046570
IRS990/TotalFunctionalExpensesGrp/TotalAmt050158
IRS990/TotalGrossUBIAmt05104
IRS990/TotalLiabilitiesBOYAmt01111
IRS990/TotalLiabilitiesEOYAmt0190
IRS990/TotalLiabilitiesGrp/BOYAmt01111
IRS990/TotalLiabilitiesGrp/EOYAmt0190
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0513605
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IRS990/TotalProgramServiceExpensesAmt046570
IRS990/TotalRevenueGrp/ExclusionAmt037859
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt071841
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt05104
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0JON ANDERSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02188501024
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-09-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE PARK FIRE RELIEF ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
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ReturnHeader/Filer/PhoneNum02188501024
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CARLSONSV LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02450 COLLEGE WAY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FERGUS FALLS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
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ReturnHeader/PreparerPersonGrp/PhoneNum02187393267
ReturnHeader/PreparerPersonGrp/PreparationDt02021-09-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DEAN BIRKELAND CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-09-13T14:30:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JON
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ANDERSON
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$575,311
Liabilities
$190
Net assets
$575,121
Revenue
$71,841
Expenses
$50,158
Net income
$21,683
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.94$0.00$7.94$1.80$0.93$0.86
2023Detailed filing. Detailed filing data is available for this year.$6.45$0.00$6.45$1.58$1.17$0.40
2022Detailed filing. Detailed filing data is available for this year.$5.48$0.12$5.36$0.41$0.88$0.47
2021Detailed filing. Detailed filing data is available for this year.$6.87$0.00$6.86$1.57$1.14$0.43
2020Detailed filing. Detailed filing data is available for this year.$5.75$0.00$5.75$0.72$0.50$0.22
2019Detailed filing. Detailed filing data is available for this year.$5.15$0.01$5.14$1.31$0.80$0.50
2018Detailed filing. Detailed filing data is available for this year.$4.10$0.05$4.05$0.81$0.81$0.01
2016Detailed filing. Detailed filing data is available for this year.$3.85$0.00$3.85$0.68$0.04$0.63