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SECURED FINANCE NETWORK INC: Form 990, tax year 2023

View the entire original 990 at ProPublica ↗

Organization
SECURED FINANCE NETWORK INC (EIN 13-5539122)
Tax period
2023-10-01 to 2024-09-30
Filed
2025-02-17
IRS object ID
202510489349300411
Schema version
2023v6.0
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

FieldValueIRS element (for citing)
Return2025-02-17T08:10:00-06:00ReturnTs
Tax Period End2024-09-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN454051133PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1FREED MAXICK PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1424 MAIN STREET SUITE 800AddressLine1Txt
CityBUFFALOCityNm
State AbbreviationNYStateAbbreviationCd
ZIP142023508ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2023-10-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN135539122EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1SECURED FINANCE NETWORK INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlSECUBusinessNameControlTxt
Phone2127929390PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1370 7TH AVENUE 1801AddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10001ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonGREG SLOWIKPersonNm
Person TitleCFOPersonTitleTxt
Phone2127929391PhoneNum
Signature2025-02-05SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonMARY MADONIAPreparerPersonNm
PTINP00405803PTIN
Phone7168472651PhoneNum
Preparation2025-02-14PreparationDt
FieldValueIRS element (for citing)
Tax2023TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerRICHARD GUMBRECHTPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1370 7TH AVENUE 1801AddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10001ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$12,038,702GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressWWW.SFNET.COMWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1944FormationYr
Legal Domicile StateNYLegalDomicileStateCd
Activity Or MissionTHE SECURED FINANCE NETWORK IS THE TRADE GROUP FOR COMMERCIAL FINANCE COMPANIES, FACTORS, BANKS AND OTHER FINANCING AGENCIES IN THE ASSET-BASED FINANCIAL SERVICES INDUSTRY ON AN INTERNATIONAL, NATIONAL, REGIONAL AND LOCAL BASIS. THE OBJECTIVES OF THE ORGANIZATION ARE TO PROVIDE, THROUGH DISCUSSION AND PUBLICATION, A FORUM FOR THE CONSIDERATION OF INTER- AND INTRA-INDUSTRY IDEAS AND OPPORTUNITIES; TO MAKE AVAILABLE CURRENT INFORMATION ON LEGISLATION AND COURT DECISIONS RELATING TO ASSET-BASED FINANCIAL SERVICES; TO IMPROVE LEGAL AND OPERATIONAL PROCEDURES EMPLOYED BY THE INDUSTRY; TO FURNISH TO THE GENERAL PUBLIC INFORMATION ON THE FUNCTION AND SIGNIFICANCE OF THE INDUSTRY IN THE CREDIT STRUCTURE OF THE COUNTRY; TO ENCOURAGE THE ASSOCIATION'S MEMBERS, AND THEIR PERSON.ActivityOrMissionDesc
Voting Members Governing Body19VotingMembersGoverningBodyCnt
Voting Members Independent19VotingMembersIndependentCnt
Total Employee13TotalEmployeeCnt
Total Volunteers21TotalVolunteersCnt
Total Gross UBI$533,424TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$5,265,838PYProgramServiceRevenueAmt
CY Program Service Revenue$5,564,385CYProgramServiceRevenueAmt
PY Investment Income$94,929PYInvestmentIncomeAmt
CY Investment Income$204,254CYInvestmentIncomeAmt
PY Other Revenue$631,514PYOtherRevenueAmt
CY Other Revenue$533,424CYOtherRevenueAmt
PY Total Revenue$5,992,281PYTotalRevenueAmt
CY Total Revenue$6,302,063CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$2,162,382PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$2,350,224CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$3,864,053PYOtherExpensesAmt
CY Other Expenses$4,354,048CYOtherExpensesAmt
PY Total Expenses$6,026,435PYTotalExpensesAmt
CY Total Expenses$6,704,272CYTotalExpensesAmt
PY Revenues Less Expenses-$34,154PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$402,209CYRevenuesLessExpensesAmt
Total Assets BOY$7,190,174TotalAssetsBOYAmt
Total Assets EOY$7,202,880TotalAssetsEOYAmt
Total Liabilities BOY$5,971,804TotalLiabilitiesBOYAmt
Total Liabilities EOY$5,871,529TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$1,218,370NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$1,331,351NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTHE SECURED FINANCE NETWORK IS THE TRADE GROUP FOR COMMERCIAL FINANCE COMPANIES, FACTORS, BANKS AND OTHER FINANCING AGENCIES IN THE ASSET-BASED FINANCIAL SERVICES INDUSTRY ON AN INTERNATIONAL, NATIONAL, REGIONAL AND LOCAL BASIS. THE OBJECTIVES OF THE ORGANIZATION ARE TO PROVIDE, THROUGH DISCUSSION AND PUBLICATION, A FORUM FOR THE CONSIDERATION OF INTER- AND INTRA-INDUSTRY IDEAS AND OPPORTUNITIES; TO MAKE AVAILABLE CURRENT INFORMATION ON LEGISLATION AND COURT DECISIONS RELATING TO ASSET-BASED FINANCIAL SERVICES; TO IMPROVE LEGAL AND OPERATIONAL PROCEDURES EMPLOYED BY THE INDUSTRY; TO FURNISH TO THE GENERAL PUBLIC INFORMATION ON THE FUNCTION AND SIGNIFICANCE OF THE INDUSTRY IN THE CREDIT STRUCTURE OF THE COUNTRY; TO ENCOURAGE THE ASSOCIATION'S MEMBERS, AND THEIR PERSON.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Revenue$226,723RevenueAmt
DescEDUCATION PROGRAMS - HELD TO TEACH NEW TOPICS IN OUR FIELD AND TO UPDATE THE PUBLIC ON MATTERS OF CONCERN.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Revenue$5,337,662RevenueAmt
DescCONVENTIONS/MEETINGS - HELD IN ORDER TO ALLOW MEMBERS TO GATHER AND DISCUSS NEW DEVELOPMENTS, SHARE EXPERIENCES, AND LEND ASSISTANCE TO OTHERS SO AS TO BETTER OUR INDUSTRY.Desc

Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp

FieldValueIRS element (for citing)
DescPUBLICATIONS - CONDUCTED IN ORDER TO BETTER OUR WORK ENVIRONMENT AND STRENGTHEN OUR INDUSTRY.Desc

Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp

FieldValueIRS element (for citing)
DescCONDUCTED VARIOUS MARKETING, CHAPTER, MEMBER, AND PUBLIC RELATIONS ACTIVITIES FOR THE BETTERMENT OF OUR MEMBERS.Desc
FieldValueIRS element (for citing)
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy TaxYes (1)SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl EntYes (1)RelatedOrganizationCtrlEntInd
Transaction With Control EntYes (1)TransactionWithControlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document27IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee13EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitYes (1)UnrelatedBusIncmOverLimitInd
Form990 T FiledYes (1)Form990TFiledInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members19GoverningBodyVotingMembersCnt
Independent Voting Member19IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNYStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE ORGANIZATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2127929390PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1370 7TH AVENUE SUITE 1801AddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10001ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (27 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
BARRY BOBROW
BOARD MEMBER/PRESIDENT0.600.20Yes (X)Yes (X)$0$0$0
ROBERT MEYERS
BOARD MEMBER/1ST VICE PRESIDENT0.20Yes (X)Yes (X)$0$0$0
JENNIFER PALMER
BOARD MEMBER0.20Yes (X)$0$0$0
BEATRIZ HERNANDEZ
BOARD MEMBER/VICE PRESIDENT0.20Yes (X)Yes (X)$0$0$0
BETHANI OPPENHEIMER
BOARD MEMBER0.20Yes (X)$0$0$0
HAMID NAMAZIE
BOARD MEMBER0.20Yes (X)$0$0$0
IAN FREDERICKS
BOARD MEMBER0.20Yes (X)$0$0$0
KATHLEEN PARKER
BOARD MEMBER0.20Yes (X)$0$0$0
LAURA GLASS
BOARD MEMBER0.20Yes (X)$0$0$0
LAWRENCE FLICK
BOARD MEMBER0.20Yes (X)$0$0$0
LAWRENCE CHUA
BOARD MEMBER0.20Yes (X)$0$0$0
ROBERT GRBIC
BOARD MEMBER0.20Yes (X)$0$0$0
SUPREMNA COLE
BOARD MEMBER0.20Yes (X)$0$0$0
TINA CAPOBIANCO
BOARD MEMBER0.20Yes (X)$0$0$0
WILLIAM BENCE
BOARD MEMBER0.20Yes (X)$0$0$0
HENRY SOSA
BOARD MEMBER0.20Yes (X)$0$0$0
DAVID MORSE
BOARD MEMBER0.20Yes (X)$0$0$0
LAUREN NADEAU
BOARD MEMBER0.20Yes (X)$0$0$0
MICHAEL MONK
BOARD MEMBER0.20Yes (X)$0$0$0
RICHARD GUMBRECHT
CEO30.0010.00Yes (X)$693,515$0$18,650
GREGORY SLOWIK
CFO30.0010.00Yes (X)$149,232$69,996$24,675
JONATHAN N HELFAT
CO-GENERAL COUNSEL0.600.20Yes (X)$0$0$0
BOBBI ACORD NOLAND
CO-GENERAL COUNSEL0.600.20Yes (X)$0$0$0
JEFFREY WALSH
BOARD MEMBER OF CONFERENCE40.00$158,518$0$27,272Yes (X)
AYDAN SAVASER
OPERATIONS DIRECTOR40.00$137,810$0$4,619Yes (X)
MICHELE A OCEJO
DIRECTOR OF COMMUNICATIONS40.00$114,400$0$19,621Yes (X)
JAMES KRAVITZ
BUSINESS DEVELOPMENT DIRECTOR40.00$296,260$0$16,602Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$1,549,735TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$69,996TotReportableCompRltdOrgAmt
Total Other Compensation$111,439TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K6IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (3 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
JEFFREY MANAGEMENT CORPORATION
PO BOX 303EMERSONNJ07630RENT$260,454
RSM US LLP
331 W 3RD ST STE 200DAVENPORTIA52801ACCOUNTING$231,600
NATIONAL STRATEGIES LLC
2020 K STREET NW SUITE 505WASHINGTONDC20006ADVOCACY$167,707
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K3CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp (4 entries)

DescDescBusinessBusinessCdTotal Revenue ColumnTotalRevenueColumnAmtRelated Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt
CONFERENCES & CONVENTION900099$3,448,542$3,448,542
MEMBERSHIP DUES900099$1,877,120$1,877,120
EDUCATIONAL PROGRAMS900099$226,723$226,723
CHAPTER DUES900099$12,000$12,000
FieldValueIRS element (for citing)
Total Program Service Revenue$5,564,385TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$102,469TotalRevenueColumnAmt
Exclusion$102,469ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$5,838,424SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$5,736,639SecuritiesAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$101,785SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$101,785TotalRevenueColumnAmt
Exclusion$101,785ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescSALES OF PUBLICATIONSDesc
Business900099BusinessCd
Total Revenue Column$533,424TotalRevenueColumnAmt
Unrelated Business Revenue$533,424UnrelatedBusinessRevenueAmt
FieldValueIRS element (for citing)
Other Revenue Total$533,424OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$6,302,063TotalRevenueColumnAmt
Related Or Exempt Func Income$5,564,385RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$533,424UnrelatedBusinessRevenueAmt
Exclusion$204,254ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$772,751TotalAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$889,574TotalAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$53,180TotalAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$511,383TotalAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$123,336TotalAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$441,580TotalAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$340,294TotalAmt

Fees For Services Lobbying FeesForServicesLobbyingGrp

FieldValueIRS element (for citing)
Total$167,707TotalAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

FieldValueIRS element (for citing)
Total$12,542TotalAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$195,179TotalAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$295,239TotalAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$56,692TotalAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$186,485TotalAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$249,865TotalAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$77,605TotalAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$1,538,633TotalAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$45,381TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$19,459TotalAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$69,637TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmt
CONTRIBUTED SERVICES$213,530
BANK CHARGES$119,520
COMMISSIONS$116,050
PRINTING & COPYING$100,816

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$107,834TotalAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$6,704,272TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$1,218,926BOYAmt
EOY$1,440,952EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$203,601BOYAmt
EOY$254,901EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
BOY$3,318BOYAmt
EOY$3,318EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$714,276BOYAmt
EOY$780,416EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$1,358,099LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$1,284,826LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$92,733BOYAmt
EOY$73,273EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
BOY$4,103,682BOYAmt
EOY$4,168,489EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$853,638BOYAmt
EOY$481,531EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$7,190,174BOYAmt
EOY$7,202,880EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$631,919BOYAmt
EOY$460,189EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$2,576,144BOYAmt
EOY$2,884,397EOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$2,000,000BOYAmt
EOY$1,955,628EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$763,741BOYAmt
EOY$571,315EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$5,971,804BOYAmt
EOY$5,871,529EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$1,218,370BOYAmt
EOY$1,331,351EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$1,218,370BOYAmt
EOY$1,331,351EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$7,190,174BOYAmt
EOY$7,202,880EOYAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XIYes (X)InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss-$402,209ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst$158,405NetUnrlzdGainsLossesInvstAmt
Donated Services And Use Fclts$309,000DonatedServicesAndUseFcltsAmt
Other Changes In Net Assets$47,785OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Consolidated Basis Fincl StmtYes (X)ConsolidatedBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule C IRS990ScheduleC

FieldValueIRS element (for citing)
Substantially All Dues Nonded0SubstantiallyAllDuesNondedInd
Only In House Lobbying0OnlyInHouseLobbyingInd
Agree Carryover Prior Year0AgreeCarryoverPriorYearInd
Dues Assessments$1,877,120DuesAssessmentsAmt
Non Deductible Lbbyng Pltcl CY$167,707NonDeductibleLbbyngPltclCYAmt
Non Deductible Lbbyng Pltcl Tot$167,707NonDeductibleLbbyngPltclTotAmt
Aggregate Reported Dues Ntc$167,707AggregateReportedDuesNtcAmt

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$123,759OtherCostOrOtherBasisAmt
Depreciation$110,900DepreciationAmt
Book Value$12,859BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$1,153,343OtherCostOrOtherBasisAmt
Depreciation$1,092,929DepreciationAmt
Book Value$60,414BookValueAmt

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$80,997OtherCostOrOtherBasisAmt
Depreciation$80,997DepreciationAmt
Book Value$0BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$73,273TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (2 entries)

DescDescBook ValueBookValueAmt
DUE FROM RELATED PARTY$73,444
RIGHT-OF-USE ASSET$408,087
FieldValueIRS element (for citing)
Total Book Value Other Assets$481,531TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)

DescDescAmtAmt
ACCRUED PENSION AND OTHER POST-EMPLOYMENT BENEFITS$30,839
LEASE LIABILITIES$453,547
DUE TO RELATED PARTIES$86,929
FieldValueIRS element (for citing)
Total Liability$571,315TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationTHE ORGANIZATION IS A NOT FOR PROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. U.S. GAAP PROVIDES GUIDANCE ON THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT FOR INCOME TAX POSITION THAT THE ORGANIZATION HAS TAKEN OR EXPECTS TO TAKE IN IT'S INCOME TAX RETURNS. THE ORGANIZATION 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 ORGANIZATION HAS NOT RECORDED ANY LIABILITIES RELATING TO UNCERTAIN TAX POSITIONS.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Compensation CommitteeYes (X)CompensationCommitteeInd
Written Employment ContractYes (X)WrittenEmploymentContractInd
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
RICHARD GUMBRECHT
CEO$431,251$0$260,000$0$2,264$0$9,900$0$8,750$0$712,165$0$0$0
JAMES KRAVITZ
BUSINESS DEVELOPMENT DIRECTOR$144,919$0$150,350$0$991$0$9,078$0$7,524$0$312,862$0$0$0
GREGORY SLOWIK
CFO$117,812$69,996$30,000$0$1,420$0$6,990$0$17,685$0$173,907$69,996$0$0
JEFFREY WALSH
BOARD MEMBER OF CONFERENCE$139,902$0$17,701$0$915$0$5,312$0$21,960$0$185,790$0$0$0

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (8 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 6THE ORGANIZATION IS A 501(C)(6) BUSINESS LEAGUE SUPPORTED BY MEMBER COMPANIES WHO PAY DUES ANNUALLY. EACH MEMBER COMPANY VOTES TO ELECT THE INCOMING BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION A, LINE 7ATHE EXECUTIVE COMMITTEE MEMBERS ARE ELECTED ANNUALLY BY THE GENERAL MEMBERSHIP GROUP. THEY MEET SEVERAL TIMES ANNUALLY TO DISCUSS THE ORGANIZATION'S ACTIVITIES AND VOTE ON ANY NECESSARY ISSUES.
FORM 990, PART VI, SECTION B, LINE 11BTHE FORM 990 IS PREPARED BY AN OUTSIDE, INDEPENDENT ACCOUNTING FIRM. A DRAFT COPY OF THE FORM 990 IS PRESENTED TO THE EXECUTIVE COMMITTEE FOR REVIEW AND COMMENT PRIOR TO FILING WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12CEACH 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 15THE BOARD 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 19ALL GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART XI, LINE 9:CHANGE IN PENSION FUNDED STATUS 47,785.
FORM 990, PART XII, LINE 2CTHE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1SECURED FINANCE FOUNDATIONBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1370 7TH AVENUE SUITE 1801AddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10001ZIPCd
FieldValueIRS element (for citing)
EIN133577148EIN
Primary ActivitiesSUPPORT STUDENTS EDUCATION IN THE ASSET BASED LENDING AREAPrimaryActivitiesTxt
Legal Domicile StateNYLegalDomicileStateCd
Exempt Code Section501(C)(3)ExemptCodeSectionTxt
Public Charity StatusLINE 7PublicCharityStatusTxt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1SECURED FINANCE NETWORK INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Controlled OrganizationYes (1)ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgYes (1)LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of FacilitiesYes (1)SharingOfFacilitiesInd
Paid Employees SharingYes (1)PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgYes (1)ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (4 entries)

Transaction TypeTransactionTypeTxtInvolvedInvolvedAmtMethod Of Amount DeterminationMethodOfAmountDeterminationTxt
SECURED FINANCE FOUNDATION
E$86,929END OF YEAR F/S BALANCE
SECURED FINANCE FOUNDATION
Q$100,008ACCOUNTING RECORDS
SECURED FINANCE FOUNDATION
N$30,000ACCOUNTING RECORDS
SECURED FINANCE FOUNDATION
O$69,996ACCOUNTING RECORDS