Secured Finance Network Midwest
Nonprofit profile at a glance
- EIN
- 201500060
- IRS 990 coverage
- 2022–2025
- Forms available
- Form 990 2025, Form 990-EZ 2021
- Location
- Mokena, IL, USA
- Phone
- 8154692935
- Rating
- 63
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $173,201
- Expenses
- $66,190
- Assets
- $760,738
- Liabilities
- $193,134
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- SABRINA SINGH (PRESIDENT)
- SAMANTHA LUCKMAN (FIRST VICE PRESIDENT)
- JIM VESECKY (VICE PRESIDENT)
- BRIDGET ANDERSON (SECRETARY & VICE PRESIDENT)
People named in this filing
- SABRINA SINGH (PRESIDENT)
- SAMANTHA LUCKMAN (FIRST VICE PRESIDENT)
- JIM VESECKY (VICE PRESIDENT)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2025. 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 2025
Annual corporate sponsorships to the members of the association and their networking meetings.
Operating model
- Revenue model
- Donor-supported. 72% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 31
- Transparency & Controls: 92
- Accountability: 70
- Sustainability: 81
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 24.2%; rating input score 24
- Program expense ratio: 53.6%; rating input score 54
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 61.8%; rating input score 94; 94th percentile among comparable filings
- Total-asset coverage ratio: 11.49; rating input score 91; 91st percentile among comparable filings
- Liabilities to assets ratio: 0.25; rating input score 14; 14th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings
Growth
- Program expense growth: 30.4% per year; rating input score 100; 90th percentile among comparable filings
- Revenue growth: 13.2% per year; rating input score 100; 77th percentile among comparable filings
- Asset growth: 11.3% per year; rating input score 100; 67th percentile among comparable filings
Details
- Where the money goes: 24.2% of revenue deployed · 53.6% of spending went to programs
- Governance: 8 of 8 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $35K in reported program spending
- Leadership: top reported pay $0 · 8 people listed
- Consistency: 20 of 20 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 4 filing years from 2022 to 2025
- Contacts: How to reach this organization
- 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 24/100.
- Review — Financial Efficiency: Program expense ratio scored 54/100.
- High — Accountability: Governance controls: 4 of 6 not reported.
- High — Sustainability: Liabilities to assets ratio scored 14/100.