Overview
What is Lafayette Fire Department Relief Association?
The Lafayette Fire Department Relief Association is a nonprofit organization situated in Lafayette, Minnesota. Established with a focus on community service, its primary mission is to offer retirement benefits to volunteer firefighters. Acting as the administrator of a defined pension plan, the Association ensures the financial security of both active and retired Lafayette firefighters. By providing retirement benefits, the organization demonstrates its commitment to recognizing and supporting the dedicated individuals who selflessly serve their community as volunteer firefighters.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 68%, Two-Star out of Four Star rating.
The Lafayette Fire Department Relief Association has received a Two-Star rating from Charity Navigator, indicating a moderate level of transparency and accountability. The organization scored well in areas such as board independence and financial health, reflecting a strong governance structure. However, the overall score is impacted by significant gaps in critical policies and practices that promote transparency, such as the absence of a conflict of interest policy and a whistleblower policy.
Strengths of the organization include a fully independent board and good financial management, with no reported material diversion of assets. The board meeting minutes are documented, and the liabilities to assets ratio indicates a stable financial position. These elements point to a responsible management team dedicated to fulfilling its mission.
On the downside, the lack of essential policies and the missing website link on their tax form are notable weaknesses. These deficiencies may hinder stakeholder confidence and limit public access to vital information about the organization’s activities and financial practices. Addressing these areas could significantly enhance its overall rating and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Lafayette Fire Department Relief Association legitimate?
Lafayette Fire Department Relief Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lafayette Fire Department Relief Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $900
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Lafayette Fire Department Relief Association?
The Lafayette Fire Department Relief Association's primary mission is to extend retirement benefits to volunteer firefighters. In this role, the association serves as the manager of a defined pension plan, catering to both active and retired firefighters within the department. By providing these benefits, the association demonstrates its commitment to supporting the well-being and recognition of the dedicated volunteer firefighters who contribute to the community's safety.
Who is the CEO of Lafayette Fire Department Relief Association?
Doug Hoffman is the President of Lafayette Fire Department Relief Association.
What is the revenue of Lafayette Fire Department Relief Association?
Lafayette Fire Department Relief Association's revenue in 2022 was $45,037.
Who are the executives of Lafayette Fire Department Relief Association and what are their salaries?
There 17 volunteers at Lafayette Fire Department Relief Association.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $300
- Related: $0
- Other: $0
- Compensation: $600
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Lafayette Fire Department Relief Association?
Lafayette Fire Department Relief Association's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lafayette Fire Department Relief Association
The Lafayette Fire Department Relief Association, in essence, serves as the managing body of a defined pension plan. This organization is devoted to extending retirement benefits to the dedicated volunteer firefighters within its purview. By acting as the plan's administrator, the Association ensures that these hardworking individuals are provided with financial security upon retirement, recognizing their invaluable contributions to their community's safety.
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Impact
August, 2024
Lafayette Fire Department Relief Association's impact is seen in the tangible support it offers to volunteer firefighters in securing retirement benefits. By administering a defined pension plan for active and retired Lafayette firefighters, the Association ensures that these individuals are provided for adequately after their service. This direct assistance contributes to the well-being and financial security of those who dedicate their time and effort to serving the community as volunteer firefighters.
This information is meant to be a general summary of Lafayette Fire Department Relief Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $18
- Gross Receipts: $53,500
Assets and Liabilities:
- Total Assets: $801,634
- Total Liabilities: $0
- Net Assets: $801,634
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Organization Details
Founding Year
1932
Phone
(507) 233-8445Principal Officer
Doug Hoffman
Main Address
PO Box 62, Lafayette, MN, 56054
NTEE Category
Code: P99 - Human services
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