Stephen Best Memorial Fund Security Federal Savings Bank

Nonprofit profile at a glance

EIN
356370903
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Logansport, IN, USA
Phone
5747226261
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Protestant
Affiliation
Christianity

Reported finances

Revenue
$85,056
Expenses
$99,607
Assets
$736,081
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

1 person listed

Highest reported compensation

  • SECURITY FEDERAL SAVINGS BANK (TRUSTEE): $2,555 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support the charitable work of trinity lutheran church and faith lutheran church, both located in logansport, Indiana.

What it reported doing in 2024

Support for trinity lutheran church (po box 257, 97 e market street, logansport, in, 46947)

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 87
  • Accountability: 70
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.6%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -17.1%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 7.39; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.6% of spending went to programs
  • Governance: 1 of 1 board members independent · 2 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $96K in reported program spending
  • Leadership: top reported pay $3K · 1 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.