Secured Finance Network Inc
- Assets
- $3.1m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 13
- Location
- New York, NY
- Founding
- 07/1955
- Data as of
- 09/2021
- EIN
- 13-5539122
Organization Overview
Secured Finance Network Inc is located in New York, NY. The organization was established in 1955. According to its NTEE Classification (V22) the organization is classified as: Economics, under the broad grouping of Social Science and related organizations. As of 09/2021, Secured Finance Network Inc employed 13 individuals. This organization is the central organization for a national or regional group of organizations. Secured Finance Network Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2021, Secured Finance Network Inc generated $3.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.1%) each year. All expenses for the organization totaled $4.0m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION PROGRAMS - HELD TO TEACH NEW TOPICS IN OUR FIELD AND TO UPDATE THE PUBLIC ON MATTERS OF CONCERN.
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.
PUBLICATIONS - CONDUCTED IN ORDER TO BETTER OUR WORK ENVIRONMENT AND STRENGTHEN OUR INDUSTRY.
CONDUCTED VARIOUS MARKETING, CHAPTER, MEMBER, AND PUBLIC RELATIONS ACTIVITIES FOR THE BETTERMENT OF OUR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Gumbrecht CEO | Officer | 30 | $506,471 |
James Kravitz Business Development Direc | 40 | $180,225 | |
Morten Kucey Chief Value Officer (to Oct, 2020) | 30 | $179,896 | |
Jeffrey Walsh Board Member Of Conferences & | 40 | $136,573 | |
Aydan Savaser Operations Manager | 40 | $112,210 | |
Greg Slowik CFO | Officer | 30 | $108,390 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rsm Accounting Services | 9/29/21 | $184,520 |
Jeffrey Management Corporation Rent | 9/29/21 | $191,253 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $250,615 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250,615 |
| Total Program Service Revenue | $2,513,485 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $11,130 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,697 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,338,734 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $758,582 |
| Compensation of current officers, directors, key employees. | $303,433 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $497,325 |
| Pension plan accruals and contributions | $45,362 |
| Other employee benefits | $421,328 |
| Payroll taxes | $108,849 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $183,088 |
| Fees for services: Accounting | $287,268 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,954 |
| Fees for services: Other | $65,103 |
| Advertising and promotion | $93,136 |
| Office expenses | $69,366 |
| Information technology | $146,011 |
| Royalties | $0 |
| Occupancy | $218,361 |
| Travel | $8,690 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $226,002 |
| Interest | $4,806 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $67,359 |
| Insurance | $53,774 |
| All other expenses | $216,912 |
| Total functional expenses | $4,009,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,126,912 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $439,063 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,318 |
| Prepaid expenses and deferred charges | $144,081 |
| Net Land, buildings, and equipment | $185,547 |
| Investments—publicly traded securities | $686,799 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $487,816 |
| Total assets | $3,073,536 |
| Accounts payable and accrued expenses | $427,165 |
| Grants payable | $0 |
| Deferred revenue | $1,817,765 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $530,609 |
| Total liabilities | $2,775,539 |
| Net assets without donor restrictions | $297,997 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,073,536 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Secured Finance Network Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Rosalie Katz Family Foundation Inc White Plains, NY PURPOSE: UNRESTRICTED | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Institute For Economic Research Inc Great Barrington, MA | $214,395,947 | $3,768,400 |
The Institute For New Economic Thinking Inc New York, NY | $26,645,757 | $24,831,883 |
Council For Economic Education New York, NY | $5,635,385 | $6,851,531 |
Secured Finance Network Inc New York, NY | $3,073,536 | $3,338,734 |
Sifma Foundation For Investor Education Fie Inc New York, NY | $10,781,139 | $4,561,649 |
Economic Club Of New York New York, NY | $9,916,092 | $3,506,192 |
Center For Economic Growth Albany, NY | $2,002,118 | $2,266,001 |
Applied Economics Clinic Arlington, MA | $422,527 | $1,026,764 |
Schumacher Center For A New Economics Great Barrington, MA | $912,234 | $672,691 |
Institute For Economics And Peace New York, NY | $187,362 | $427,518 |
Mainsail Network Inc New York, NY | $57,987 | $204,862 |
Cloud Institute For Sustainability Education Ancram, NY | $83,303 | $249,374 |