Loretto Vol Fire Relief Assn in Loretto, Minnesota (MN)

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Loretto Vol Fire Relief Assn
Employer Identification Number (EIN)416084217
Name of OrganizationLoretto Vol Fire Relief Assn
AddressPO BOX 73, Loretto, MN 55357-0073
SubsectionCivic League
Ruling Date07/2014
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,324,968
Amount of Income$771,512
Form 990 Revenue Amount$176,182
National Taxonomy of Exempt Entities (NTEE)Public Safety, Disaster Preparedness and Relief: Disaster Preparedness and Relief Services


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Amount of income in 2013: $771,512 (it was $149,452 in 2012)
Loretto Vol Fire Relief Assn: 

 $771,512
Other organizations performing similar types of work: 

 $63,123

Assets in 2013: $1,324,968 (it was $1,345,590 in 2012)
This organization: 

 $1,324,968
Other organizations performing similar types of work: 

 $46,386

Expenses in 2013: $312,833
This organization: 

 $312,833
Other organizations performing similar types of work: 

 $52,847

Income to expenses ratio in 2013: 2.5
Loretto Vol Fire Relief Assn: 

 2.5
Other organizations performing similar types of work: 

 0.9

Grants share in income in 2013: 47.5%
Loretto Vol Fire Relief Assn: 

 47.5%
Other organizations performing similar types of work: 

 90.3%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNo
Is the organization required to complete Schedule B, Schedule of Contributors?YesNo
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?NoNo
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?YesYes
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?NoNo
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?NoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
200820092010201120122013
The number reported in Box 3 of Form 1096000111
The number of Forms W-2G000000
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?NoNoNoYesYesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return1001111
Did the organization file all required federal employment tax returns?NoNoYesYesYesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesNoYesYesYesYes
Has it filed a Form 990-T for this year?YesNoYesYesYesYes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNoNoNoNoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNoNoNoNoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNoNoNoNoNo
Did the organization file Form 8886-T?NoNoNoNoNoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNoNoNoNoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNoNoNoNoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNoNoNoNoNo
Did the organization notify the donor of the value of the goods or services provided?NoNoNoNoNoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNoNoNoNoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNoNoNoNoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNoNoNoNoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNoNoNoNoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNoNoNoNoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNoNoNoNoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNoNoNoNoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNoNoNoNoNo
Initiation fees and capital contributions$0$0$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0$0$0
Gross income from members or shareholders$0$0$0$0$0$0
Gross income from other sources$0$0$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNoNoNoNoNo
The amount of tax-exempt interest received or accrued during the year$0$0$0$0$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNoNoNoNoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0$0$0$0$0
The amount of reserves on hand$0$0$0$0$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNoNoNoNoNo
Has it filed a Form 720 to report these payments?NoNoNoNoNoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$300$300
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$0$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization00
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
200820092010201120122013
Total revenue$-264,715$277,374$126,792$54,892$149,452$176,182
Contributions, Gifts, Grants and Other Similar Amounts$0$0$99,476$93,415$77,896$83,746
Program Service Revenue$84,453$76,665$0$0$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$37,385$23,006$27,235$34,759$39,302$40,508
Income from investment of tax-exempt bond proceeds$0$0$0$0$0$0
Royalties$0$0$0$0$0$0
Net rental income$0$0$0$0$0$0
Net gain/loss from sales of assets other than inventory$-384,897$179,373$0$-73,175$33,536$49,608
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $0$179,373 / $0$0 / $0$118,217 / $0$111,225 / $0$56,693 / $0
Less: cost or other basis and sales expenses (Securities / Other)$384,897 / $0$0 / $0$0 / $0$191,392 / $0$77,689 / $0$7,085 / $0
Gain or (loss) (Securities / Other)$-384,897 / $0$179,373 / $0$0 / $0$-73,175 / $0$33,536 / $0$49,608 / $0
Net income/loss from fundraising events$0$0$0$0$0$0
Net income/loss from gaming activities$-1,656$-1,670$81$-107$-1,282$2,320
Gross income from gaming activities$572,076$481,080$523,169$580,113$530,521$590,565
Less: direct expenses$573,732$482,750$523,088$580,220$531,803$588,245
Net income/loss from sales of inventory$0$0$0$0$0$0
Miscellaneous Revenue$0$0$0$0$0$0
Statement of Functional Expenses
200820092010201120122013
Total functional expenses$49,571$1,893$209,586$153,107$148,034$312,833
Grants and other assistance to domestic organizations and domestic governments$0$0$0$0$0$0
Grants and other assistance to domestic individuals$0$0$0$0$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0$0$0$0$0
Benefits paid to or for members$47,709$0$188,925$135,400$131,200$282,888
Compensation of current officers, directors, trustees, and key employees$0$0$0$300$300$300
Compensation not included above, to disqualified persons$0$0$0$0$0$0
Other salaries and wages$0$0$0$0$0$0
Pension plan accruals and contributions$0$0$0$0$0$0
Other employee benefits$0$0$0$0$0$0
Payroll taxes$0$0$0$0$0$0
Fees for services (non-employees)
Management$0$0$0$0$0$0
Legal$0$0$0$0$0$0
Accounting$1,375$1,400$2,175$0$0$11,625
Lobbying$0$0$0$0$0$0
Professional fundraising services$0$0$0$0$0$0
Investment management fees$0$0$18,018$16,914$16,061$16,587
Other$0$0$0$0$0$0
Advertising and promotion$0$0$0$0$0$0
Office expenses$0$0$0$0$0$0
Information technology$0$0$0$0$0$0
Royalties$0$0$0$0$0$0
Occupancy$0$0$0$0$0$0
Travel$0$0$0$0$0$0
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0$0$0
Interest$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0
Depreciation, depletion, and amortization$0$0$0$0$0$0
Insurance$0$0$468$493$473$533
Other expenses$487$493$0$0$0$900
Balance Sheet
200820092010201120122013
Total assets$1,055,570$1,321,950$1,364,233$1,288,988$1,345,590$1,324,968
Cash - non-interest-bearing$15,498$14,311$9,804$9,962$10,392$17,270
Savings and temporary cash investments$319,118$79,149$162,825$4,500$400$0
Pledges and grants receivable, net$0$0$0$1,000$2,000$3,000
Accounts receivable, net$0$0$0$0$0$0
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0$0$0$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0$0$0$0$0
Notes and loans receivable, net$0$0$0$0$0$0
Inventories for sale or use$1,624$1,175$1,302$1,077$0$0
Prepaid expenses and deferred charges$0$0$0$0$0$0
Land, buildings, and equipment: cost or other basis$0$0$0$0$0$0
Investments - publicly traded securities$0$0$0$0$1,328,598$1,304,698
Investments - other securities$719,330$1,227,315$1,190,302$1,272,449$0$0
Investments - program-related$0$0$0$0$0$0
Intangible assets$0$0$0$0$0$0
Other assets$0$0$0$0$0$0
Total liabilities$9,137$36$47$63$783$771
Accounts payable and accrued expenses$0$0$0$0$0$0
Grants payable$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0
Escrow or custodial account liability$0$0$0$0$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0$0$0$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$9,137$36$47$63$783$771
Total net assets or fund balances$1,046,433$1,321,914$1,364,186$1,288,925$1,344,807$1,324,197
Unrestricted net assets$0$0$15,559$15,476$14,209$16,499
Temporarily restricted net assets$0$0$1,348,627$1,273,449$1,330,598$1,307,698
Permanently restricted net assets$0$0$0$0$0$0
Capital stock or trust principal, or current funds$1,046,433$1,321,914$0$0$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0$0$0$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:Not provided
Number of organizations supported0
Sum of amounts of support$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Timber Trails Public Transit IncPO BOX 7, Milaca, MN 56353-0007MN1999-06$1,186,408
2Farmington Fire Fighters Relief Association19695 Municipal Drive, Farmington, MN 55024MN1976-10$1,153,534
3The Healthstore Foundation527 Marquette Ave Ste 1660, Minneapolis, MN 55402-1389MN1998-01$1,017,942
4Loretto Vol Fire Relief AssnPO BOX 73, Loretto, MN 55357-0073MN2014-07$771,512
5Robbinsdale Fire Department Relief Association4100 Lakeview Ave, Robbinsdale, MN 55422-2280MN2012-06$237,467
6Olivia Firemens Relief Association1009 W Lincoln Ave, Olivia, MN 56277-1250MN2013-07$143,884
7Sharedgeo1360 University Ave West Suite 455, Saint Paul, MN 55104-4086MN2009-05$90,895
8Truman Fire Department Relief Association101 E Ciro St, Truman, MN 56088-2186MN2012-01$83,947
9Arlington Fire Relief AssociationPO BOX 1001, Arlington, MN 55307-1001MN2012-07$80,503
10Wakota CaerPO BOX 16, Cottage Grove, MN 55016-0016MN2003-01$12,930
11Browerville Firemens Relief AssocPo Box 228, Browerville, MN 56438MN2012-01$0
12Business Continuity Planning Workgroup For Healthcare Orgs6102 Woodridge Lane Ne, Rochester, MN 55906MN2009-07$0
13Clinton First Responders324 Clinton St, Clinton, MN 56225-5154MN2014-08$0
14Crow River Amateur Radio Club116 Oak Ln Se, Hutchinson, MN 55350-3239MN2007-12$0
15Dakota County Sheriffs Mounted Patrol, None None1580 W Highway 55, Hastings, MN 55033MN2012-06$0
16Danube Area Donation Society, DadsPo Box 11, Danube, MN 56230MN2006-01$0
17Disaster Response Communications Inc5123 W 98th St - B310, Bloomington, MN 55437MN2010-10$0
18Farmington Firefighters Auxiliary Association19695 Municipal Drive, Farmington, MN 55024MN2012-08$0
19Fire Rescue Alliance15790 53rd St Ne, Saint Michael, MN 55376-3203MN2014-09$0
20Green Cross Foundation Inc, Green Cross Academy Of TraumatologyPo Box 352, Becker, MN 55308MN2002-05$0
Number of organizations performing similar types of work
Alaska12
Alabama54
Arkansas30
Arizona44
California276
Colorado68
Connecticut14
District of Columbia38
Delaware6
Florida205
Georgia73
Hawaii7
Iowa36
Idaho12
Illinois69
Indiana46
Kansas20
Kentucky39
Louisiana110
Massachusetts41
Maryland52
Maine7
Michigan43
Minnesota54
Missouri64
Mississippi57
Montana16
North Carolina78
North Dakota6
Nebraska10
New Hampshire13
New Jersey92
New Mexico21
Nevada15
New York233
Ohio69
Oklahoma40
Oregon50
Pennsylvania123
Rhode Island6
South Carolina18
South Dakota8
Tennessee60
Texas234
Utah18
Virginia69
Vermont10
Washington62
Wisconsin41
West Virginia22
Wyoming4
International5
Total2,800

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