Loretto Volunteer Fire Dept Inc
- Assets
- $1.1m
- Revenue
- $632.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Loretto, MN
- Founding
- 09/1999
- Data as of
- 12/2021
- EIN
- 41-6037075
Organization Overview
Loretto Volunteer Fire Dept Inc is located in Loretto, MN. The organization was established in 1999. According to its NTEE Classification (M24) the organization is classified as: Fire Prevention, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Loretto Volunteer Fire Dept Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Loretto Volunteer Fire Dept Inc generated $632.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $571.6k during the year ending 12/2021. While expenses have increased by 2.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FIRE PROTECTION TO VARIOUS COMMUNITIES IN THE AREA.
Describe the Organization's Program Activity:
VOLUNTEER FIRE PROTECTION TO CITIES OF LORETTO, MEDINA, GREENFIELD, INDEPENDENCE & CORCORAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Rosati Director | Trustee | 2 | $13,354 |
Jeff Leuer Chief | Officer | 5 | $5,458 |
Tim Ryan Assist Chief | Officer | 5 | $5,107 |
Gregg Johnson Sec | Officer | 5 | $4,366 |
Rick Altendorf Director | Trustee | 2 | $3,723 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $44,498 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,577 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $88,075 |
| Total Program Service Revenue | $499,590 |
| Investment income | $22 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $175 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $8,846 |
| Net Income from Gaming Activities | $35,450 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $632,158 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $32,008 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $119,987 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,291 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,287 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,999 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,266 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $30,965 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $84,077 |
| Insurance | $11,170 |
| All other expenses | $134,367 |
| Total functional expenses | $571,580 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $247,673 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $825,272 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,072,945 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $418,271 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,503 |
| Total liabilities | $421,774 |
| Net assets without donor restrictions | $630,776 |
| Net assets with donor restrictions | $20,395 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,072,945 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Loretto Volunteer Fire Dept Inc has recieved totaling $154.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $154 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bloomington Fire Dept Relief Assoc Bloomington, MN | $232,958,122 | $17,691,264 |
Spring Lake Park Fire Dept Inc Spring Lake Park, MN | $1,043,343 | $3,348,790 |
Maple Grove Firemens Relief Association Maple Grove, MN | $20,091,151 | $3,472,743 |
Lake Johanna Volunteer Fire Department Shoreview, MN | $5,386,544 | $3,059,264 |
Sun Prairie Fire & Rescue Company Sun Prairie, WI | $322,315 | $2,382,259 |
Eden Prairie Fire Fighters Relief Association Eden Prairie, MN | $26,356,144 | $1,042,441 |
Elk River Fire & Ambulance Service Elk River, MN | $1,085,031 | $2,381,867 |
Dover Firemans Relief Association Dover, MN | $766,350 | $1,633,588 |
Mckenzie County Ambulance Service Watford City, ND | $4,725,113 | $1,535,302 |
Eagan Volunteer Firemans Relief Association Eagan, MN | $11,232,705 | $384,512 |
Tess Corners Volunteer Fire Dept Muskego, WI | $2,146,961 | $1,520,539 |
Andover Firefighters Relief Association Andover, MN | $4,006,740 | $315,386 |