Secured Finance Network Inc
Nonprofit profile at a glance
- EIN
- 135539122
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2127929390
- Rating confidence
- Limited
- Sector
- Economics
Reported finances
- Revenue
- $6,607,481
- Expenses
- $6,921,653
- Assets
- $7,211,082
- Liabilities
- $5,898,559
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
28 people listed
Executive titles in this filing
- ROBERT MEYERS (BOARD MEMBER/PRESIDENT)
- BETTY HERNANDEZ (BOARD MEMBER/1ST VICE PRESIDENT)
- STEWART HAYES (BOARD MEMBER/VICE PRESIDENT)
- RICHARD GUMBRECHT (CEO)
Highest reported compensation
- RICHARD GUMBRECHT (CEO): $694,115 total reported compensation
- JAMES KRAVITZ (BUSINESS DEVELOPMENT DIRECTOR): $341,608 total reported compensation
- GREGORY SLOWIK (CFO): $247,862 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The 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.
What it reported doing in 2024
Conventions/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.
Operating model
- Revenue model
- Earned-program. 91% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 83
- Accountability: 100
- Sustainability: 23
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -4.8%; rating input score 20; 20th percentile among comparable filings
- Total-asset coverage ratio: 1.04; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0.82; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 25.4%; rating input score 8; 8th percentile among comparable filings
Growth
- Program expense growth: 27.4% per year; rating input score 100; 91st percentile among comparable filings
- Revenue growth: 14.1% per year; rating input score 100; 80th percentile among comparable filings
- Asset growth: 15.6% per year; rating input score 100; 76th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 19 of 19 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments
- Leadership: top reported pay $694K · 28 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 3 contractors listed · $870K reported
- Consistency: 12 of 12 current checks pass
- Schedules: 5 filed schedules · includes executive pay and related organizations
- Filing history: 5 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 7 filed money-flow records
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 20/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
- High — Sustainability: Officer compensation ratio scored 8/100.
- High — Sustainability: Liabilities to assets ratio scored 10/100.