Secured Finance Network Midwest
- Assets
- $335.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Frankfort, IL
- Founding
- 03/2005
- Data as of
- 12/2021
- EIN
- 20-1500060
Organization Overview
Secured Finance Network Midwest is located in Frankfort, IL. The organization was established in 2005. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Secured Finance Network Midwest 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 12/2021, Secured Finance Network Midwest generated $8.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (28.6%) each year. All expenses for the organization totaled $40.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
SEE STATEMENT OF EXEMPT PURPOSE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Parker First Vice President | 3 | $0 | |
Susan Duckett Vice President | 1 | $0 | |
Tom Boniface Secretary | 1 | $0 | |
Jennifer Kempton President | 3 | $0 | |
Eric Dorner Treasurer | 2 | $0 | |
Alpesh Amin Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $11,463 |
| Membership dues | $1,891 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | -$4,858 |
| Other Revenue | $0 |
| Total Revenue | $8,496 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $7,856 |
| Professional fees and other payments to independent contractors | $4,320 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $135 |
| Other expenses | $27,928 |
| Total expenses | $40,239 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $283,844 |
| Other assets | $0 |
| Total assets | $335,362 |
| Total liabilities | $123,469 |
| Net assets or fund balances | $211,893 |
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