Overview
What is New Richland Firemen's Relief Association?
The New Richland Firemen's Relief Association is a nonprofit organization situated in Minnesota. Its primary purpose is to offer pension benefits to volunteer firefighters, ensuring their financial security after their service. Additionally, the association is authorized to conduct lawful gambling activities at two local venues, granted under a charitable gaming license issued by the state. The organization adheres to state regulations and contributes to the community school, making donations towards various activities. This benevolent support contributes to the overall well-being and development of the community, ensuring a robust volunteer fire department with 23 retired members receiving benefits.
Official website here: www.nrfd@midco.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
The New Richland Firemen's Relief Association has received a two-star rating from Charity Navigator, indicating areas that require improvement. The organization scored 64% overall, with strengths in board independence and transparency, reflected by a fully independent board and proper documentation of board meeting minutes. Its program expense ratio is commendable at 87.76%, showing a strong commitment to funding its core programs.
However, the organization faces significant challenges in terms of accountability. It lacks essential policies such as conflict of interest, whistleblower protections, and document retention, all of which have contributed to its lower scores in the accountability and finance category. Additionally, the liabilities to assets ratio at 65.76% raises concerns about its financial stability.
While the organization demonstrates effective program funding and independent governance, the absence of critical policies and a relatively high liabilities-to-assets ratio suggest that improvements in governance and financial management are necessary for long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is New Richland Firemen's Relief Association legitimate?
New Richland Firemen's Relief Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Richland Firemen's 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $600
For more financial information, click here
Official website here: www.nrfd@midco.net
What is the mission statement of New Richland Firemen's Relief Association?
The New Richland Firemen's Relief Association serves a dual purpose. Its primary mission is to provide pension benefits for volunteer firefighters. In addition to this, the organization authorizes and manages lawful gambling activities at two designated locations, utilizing a charitable gaming license issued by the state of Minnesota. In compliance with state regulations, the association has made charitable contributions to the local community school, supporting various school activities. By fulfilling these roles, the New Richland Firemen's Relief Association contributes positively to the community, ensuring the sustainability of a volunteer fire department and offering retirement benefits for its 23 members.
Official website here: www.nrfd@midco.net
Who is the CEO of New Richland Firemen's Relief Association?
Dan Budach is the President of New Richland Firemen's Relief Association.
Official website here: www.nrfd@midco.net
What is the revenue of New Richland Firemen's Relief Association?
New Richland Firemen's Relief Association's revenue in 2022 was $72,248.
Official website here: www.nrfd@midco.net
Who are the executives of New Richland Firemen's Relief Association and what are their salaries?
The average compensation at New Richland Firemen's Relief Association during 2022 was $300. There are 2 employees and 23 volunteers at New Richland Firemen's Relief Association.
Here are 6 key members and their salaries:
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- Other: $0
Official website here: www.nrfd@midco.net
Where can I find the form 990 for New Richland Firemen's Relief Association?
New Richland Firemen's Relief Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nrfd@midco.net
Learn more at the official website: www.nrfd@midco.net
Mission Statement of New Richland Firemen's Relief Association
The New Richland Firemen's Relief Association, a nonprofit organization, is primarily focused on providing pension benefits for volunteer firefighters. This mission serves a dual purpose, not only ensuring the continuity of a volunteer fire department but also offering retirement benefits to its 23 members. In addition to its pension responsibilities, the association is authorized to engage in lawful gambling activities at two designated locations, with the proceeds from these activities contributing to its operations. In line with its commitment to the community, the association makes charitable contributions to local schools, supporting various activities and initiatives. By fulfilling its mission, the New Richland Firemen's Relief Association contributes significantly to the well-being of its volunteer firefighters and the broader community.
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Impact
August, 2024
The New Richland Firemen's Relief Association's impact is significant and vital for the community of New Richland and its surrounding area. By providing pension benefits for volunteer firemen, the organization ensures a viable volunteer fire department that serves the community in times of need. Additionally, through lawful gambling activities conducted under a charitable gaming license, the association generates funds to support its mission.
Furthermore, the association's donations to the community school contribute to various activities, strengthening ties between the fire department and the local educational institution. Overall, the New Richland Firemen's Relief Association plays a crucial role in public safety and community welfare, benefiting both the volunteer firemen and the residents they serve.
This information is meant to be a general summary of New Richland Firemen's 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: $19,994
- Gross Receipts: $3,075,409
Assets and Liabilities:
- Total Assets: $537,099
- Total Liabilities: $353,235
- Net Assets: $183,864
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Organization Details
Founding Year
1984
Phone
(507) 463-8741Principal Officer
Dan Budach
Main Address
PO BOX 497, NEW RICHLAND, MN, 56072
Website
www.nrfd@midco.netNTEE Category
Code: M12 - Public safety
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