SECURED FINANCE FOUNDATION: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- SECURED FINANCE FOUNDATION (EIN 13-3577148)
- Tax period
- 2019-10-01 to 2020-09-30
- Filed
- 2021-02-15
- IRS object ID
- 202140469349301634
- Schema version
- 2019v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-02-15T16:48:09-06:00 | ReturnTs |
| Tax Period End | 2020-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 454051133 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FREED MAXICK CPAS PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 424 MAIN STREET SUITE 800 | AddressLine1Txt |
| City | BUFFALO | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 142023508 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 133577148 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SECURED FINANCE FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SECU | BusinessNameControlTxt |
| Phone | 2127929390 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 370 7TH AVENUE NO 1801 | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10001 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GREG SLOWIK | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 2127929390 | PhoneNum |
| Signature | 2021-02-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MARY MADONIA | PreparerPersonNm |
| PTIN | P00405803 | PTIN |
| Phone | 7168472651 | PhoneNum |
| Preparation | 2021-02-12 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RICHARD GUMBRECHT | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 370 7TH AVENUE NO 1801 | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10001 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $528,812 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.SFNET.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1990 | FormationYr |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | SEE SCHEDULE O | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 9 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $339,800 | PYContributionsGrantsAmt |
| CY Contributions Grants | $348,451 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $40,750 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,328 | PYInvestmentIncomeAmt |
| CY Investment Income | $11,864 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $344,128 | PYTotalRevenueAmt |
| CY Total Revenue | $401,065 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $9,895 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $5,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $441,006 | PYOtherExpensesAmt |
| CY Other Expenses | $461,445 | CYOtherExpensesAmt |
| PY Total Expenses | $450,901 | PYTotalExpensesAmt |
| CY Total Expenses | $466,445 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$106,773 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$65,380 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $717,489 | TotalAssetsBOYAmt |
| Total Assets EOY | $548,155 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $645,260 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $527,913 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $72,229 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $20,242 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE O | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $194,298 | ExpenseAmt |
| Grant | $5,000 | GrantAmt |
| Revenue | $40,750 | RevenueAmt |
| Desc | RAISED FUNDS FOR THE SECURED FINANCE NETWORK,INC. CORPORATE LEARNING AND DEVELOPMENT PROGRAM - A TRAINING PROGRAM THAT WILL BE USED TO EDUCATE PROFESSIONALS IN THE NEAR FUTURE. | Desc |
| Total Program Service Expenses | $194,298 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | Yes (1) | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 4 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE ORGANIZATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2127929390 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 370 7TH AVENUE NO 1801 | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10001 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|---|
| WILLIAM D BREWER | |||||||
| MEMBER | 0.20 | 0.60 | Yes (X) | $0 | $0 | $0 | |
| CHARLES JOHNSON | |||||||
| MEMBER, CHAIRPERSON | 0.20 | 0.60 | Yes (X) | $0 | $0 | $0 | Yes (X) |
| RICHARD GUMBRECHT | |||||||
| MEMBER/CEO | 10.00 | 30.00 | Yes (X) | $0 | $534,228 | $33,621 | Yes (X) |
| GREGORY SLOWIK | |||||||
| MEMBER/CFO | 10.00 | 30.00 | Yes (X) | $69,996 | $117,866 | $28,661 | Yes (X) |
| WADE M KENNEDY | |||||||
| MEMBER | 0.20 | 0.60 | Yes (X) | $0 | $0 | $0 | |
| JEFFREY K GOLDRICH | |||||||
| MEMBER | 0.20 | 0.60 | Yes (X) | $0 | $0 | $0 | |
| ROBERT D KATZ | |||||||
| MEMBER | 0.20 | 0.60 | Yes (X) | $0 | $0 | $0 | |
| DANIEL J KRAUSS | |||||||
| MEMBER | 0.20 | 0.60 | Yes (X) | $0 | $0 | $0 | |
| MORTEN KUCEY | |||||||
| MEMBER | 0.20 | 40.00 | Yes (X) | $0 | $33,000 | $9,497 | |
| JOSEPH LEHRER | |||||||
| MEMBER | 0.20 | 0.60 | Yes (X) | $0 | $0 | $0 | |
| BETHANI R OPPENHEIMER | |||||||
| MEMBER | 0.20 | 0.60 | Yes (X) | $0 | $0 | $0 | |
| HOWARD A REIN | |||||||
| MEMBER | 0.20 | 0.60 | Yes (X) | $0 | $0 | $0 | |
| JONATHAN HELFAT | |||||||
| GENERAL COUNSEL | 0.20 | 0.60 | $0 | $0 | $0 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $69,996 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $685,094 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $71,779 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ERNST & YOUNG US LLP | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 PLAZA DRIVE | AddressLine1Txt |
| City | SECAUCUS | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 07094 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | MARKETING SIZE STUDY | ServicesDesc |
| Compensation | $125,000 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $348,451 | AllOtherContributionsAmt |
| Total Contributions | $348,451 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | HALL OF FAME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $40,750 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $40,750 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $40,750 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,134 | TotalRevenueColumnAmt |
| Exclusion | $5,134 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $134,477 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $127,747 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $6,730 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $6,730 | TotalRevenueColumnAmt |
| Exclusion | $6,730 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $401,065 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $40,750 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $11,864 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,000 | TotalAmt |
| Program Services | $5,000 | ProgramServicesAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,553 | TotalAmt |
| Management And General | $4,553 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,500 | TotalAmt |
| Management And General | $7,500 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,145 | TotalAmt |
| Management And General | $3,145 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $152,624 | TotalAmt |
| Management And General | $152,624 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $75 | TotalAmt |
| Management And General | $75 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,000 | TotalAmt |
| Management And General | $30,000 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,480 | TotalAmt |
| Program Services | $1,480 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,963 | TotalAmt |
| Management And General | $2,963 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| PROGRAM SUPPORT | $100,008 | $100,008 | |
| STAFF SUPPORT | $69,996 | $69,996 | |
| MEETING FACILITIES | $48,871 | $48,871 | |
| AUDIO/VISUAL | $14,760 | $14,760 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,470 | TotalAmt |
| Program Services | $24,179 | ProgramServicesAmt |
| Management And General | $1,291 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $466,445 | TotalAmt |
| Program Services | $194,298 | ProgramServicesAmt |
| Management And General | $272,147 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $440,294 | BOYAmt |
| EOY | $57,758 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $72,950 | BOYAmt |
| EOY | $149,550 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,375 | BOYAmt |
| EOY | $3,125 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,285 | BOYAmt |
| EOY | $80,500 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $171,585 | BOYAmt |
| EOY | $257,222 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $717,489 | BOYAmt |
| EOY | $548,155 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,067 | BOYAmt |
| EOY | $22,736 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,750 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $579,443 | BOYAmt |
| EOY | $505,177 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $645,260 | BOYAmt |
| EOY | $527,913 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $72,229 | BOYAmt |
| EOY | $20,242 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $72,229 | BOYAmt |
| EOY | $20,242 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $717,489 | BOYAmt |
| EOY | $548,155 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$65,380 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $13,393 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $366,833 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $356,226 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $429,899 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $339,800 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $348,451 | CurrentTaxYearAmt |
| Total | $1,841,209 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $366,833 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $356,226 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $429,899 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $339,800 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $348,451 | CurrentTaxYearAmt |
| Total | $1,841,209 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | $1,841,209 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,139 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,279 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,828 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,761 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,134 | CurrentTaxYearAmt |
| Total | $20,141 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $1,861,350 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $535,091 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.98920 | PublicSupportCY170Pct |
| Public Support PY170 | 0.98850 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUE TO RELATED PARTY | Desc |
| Amt | $505,177 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $505,177 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $414,458 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $13,393 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $13,393 | RevenueNotReportedAmt |
| Revenue Subtotal | $401,065 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $401,065 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $466,445 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $466,445 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $466,445 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE FOUNDATION IS A NOT FOR PROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. U.S. GAAP PROVIDES GUIDANCE ON THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT FOR INCOME TAX POSITION THAT THE FOUNDATION HAS TAKEN OR EXPECTS TO TAKE IN IT'S INCOME TAX RETURNS. THE FOUNDATION TAKES MANY TAX POSITIONS RELATIVE TO TAX LAWS, INCLUDING THOSE TAKEN IN DETERMINING WHETHER TAX IS DUE, A REFUND IS OWED, A TAX RETURN NEEDS TO BE FILED, OR THE CHARACTERIZATION OF INCOME IS TAXABLE (FOR EXAMPLE, UNRELATED BUSINESS INCOME) OR NONTAXABLE. THE FOUNDATION HAS NOT RECORDED ANY LIABILITIES RELATING TO UNCERTAIN TAX POSITION. THE FOUNDATION FILES ITS RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX IN THE U.S. FEDERAL JURISDICTION AND ITS ANNUAL FILING OF CHARITABLE ORGANIZATIONS IN NEW YORK STATE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (2 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD GUMBRECHT | ||||||||||||||
| MEMBER/CEO | $0 | $534,228 | $0 | $0 | $0 | $0 | $0 | $8,550 | $0 | $25,071 | $0 | $567,849 | $0 | $0 |
| GREGORY SLOWIK | ||||||||||||||
| MEMBER/CFO | $69,996 | $117,866 | $0 | $0 | $0 | $0 | $0 | $5,355 | $0 | $23,306 | $69,996 | $146,527 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | ALL SALARIES ARE PAID THROUGH SECURED FINANCE NETWORK, INC., A RELATED ENTITY. THE BOARD OF SECURED FINANCE NETWORK, INC. HAS AN EXECUTIVE COMPENSATION COMMITTEE WHICH REVIEWS ALL EXECUTIVE COMPENSATION. THEIR DETERMINATION OF SALARIES IS BASED ON REVIEW OF THE EMPLOYEE'S JOB PERFORMANCE AND COMPARISON TO THE SALARY LEVELS OF OTHER TAX-EXEMPT ORGANIZATIONS. THEIR DECISIONS ARE FULLY DOCUMENTED. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 1 | THE ORGANIZATION WAS FORMED ON JUNE 4, 1990 TO PROVIDE GRANTS AND/OR GIFTS TO ASSIST AND SUPPORT STUDENTS ENROLLED IN EDUCATIONAL PROGRAMS DEALING WITH ASSET BASED LENDING AND TO MAKE GRANTS AND/OR GIFTS TO ASSIST AND FUND SECONDARY SCHOOLS, COLLEGES AND UNIVERSITIES IN SUPPORT OF THEIR ASSET BASED LENDING EDUCATIONAL PROGRAMS. |
| FORM 990, PART III, LINE 1 | THE ORGANIZATION WAS FORMED ON JUNE 4, 1990 TO PROVIDE GRANTS AND/OR GIFTS TO ASSIST AND SUPPORT STUDENTS ENROLLED IN EDUCATIONAL PROGRAMS DEALING WITH ASSET BASED LENDING AND TO MAKE GRANTS AND/OR GIFTS TO ASSIST AND FUND SECONDARY SCHOOLS, COLLEGES AND UNIVERSITIES IN SUPPORT OF THEIR ASSET BASED LENDING EDUCATIONAL PROGRAMS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS PREPARED BY AN OUTSIDE, INDEPENDENT ACCOUNTING FIRM. A DRAFT COPY OF THE FORM 990 IS PRESENTED TO THE BOARD FOR REVIEW AND COMMENT PRIOR TO FILING WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH OFFICER AND MEMBER OF THE EXECUTIVE COMMITTEE IS REQUIRED TO ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON READ AND UNDERSTANDS THE CONFLICT OF INTEREST POLICY AND AGREES TO COMPLY WITH IT. IN ADDITION, ANY MATERIAL CHANGES IN THEIR ANNUAL STATEMENT MUST BE IMMEDIATELY REPORTED. THE EXECUTIVE COMMITTEE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THIS POLICY BY REVIEWING ANNUAL STATEMENTS AND TAKING ACTION AS NECESSARY. IN ADDITION, PERIODIC REVIEWS OF COMPENSATION ARRANGEMENTS AND CONTRACTS AS WELL AS PARTNERSHIPS, JOINT VENTURES AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS ARE PERFORMED. OUTSIDE ADVISORS MAY BE USED IN THIS PROCESS IF IT IS DEEMED NECESSARY. |
| FORM 990, PART VI, SECTION B, LINE 15 | ALL SALARIES ARE PAID THROUGH SECURED FINANCE NETWORK, INC., A RELATED ENTITY. THE BOARD OF SECURED FINANCE NETWORK, INC. HAS AN EXECUTIVE COMPENSATION COMMITTEE WHICH REVIEWS ALL EXECUTIVE COMPENSATION. THEIR DETERMINATION OF SALARIES IS BASED ON REVIEW OF THE EMPLOYEE'S JOB PERFORMANCE AND COMPARISON TO THE SALARY LEVELS OF OTHER TAX-EXEMPT ORGANIZATIONS. THEIR DECISIONS ARE FULLY DOCUMENTED. |
| FORM 990, PART VI, SECTION C, LINE 19 | ALL GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART IX, LINE 11G | MARKET SIZING STUDY: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 85,469. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 85,469. QUARTERLY MEMBER SURVEYS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 67,155. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 67,155. |
| FORM 990, PART XII, LINE 2C | THERE HAVE BEEN NO CHANGES TO THE PROCESS FROM THE PREVIOUS YEAR. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SECURED FINANCE NETWORK INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 370 7TH AVENUE SUITE 1801 | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10001 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Primary Activities | THE DEVELOPMENT OF ASSET BASED FINANCIAL SERVICES | PrimaryActivitiesTxt |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(6) | ExemptCodeSectionTxt |
| Public Charity Status | N/A | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | Yes (1) | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| SECURED FINANCE NETWORK INC | ||
| E | $505,177 | END OF YEAR F/S BALANCE |
| SECURED FINANCE NETWORK INC | ||
| P | $100,008 | ACCOUNTING RECORDS |
| SECURED FINANCE NETWORK INC | ||
| N | $30,000 | ACCOUNTING RECORDS |
| SECURED FINANCE NETWORK INC | ||
| O | $69,996 | ACCOUNTING RECORDS |