Security Plus Financial Corporation: FY2021 Nonprofit Profile & Form 990 (EIN 16-1637021)

Revenue by fiscal year
FY2020	$61K
FY2021	$66K
FY2022	$42K
FY2023	$75K
FY2024	$65K
FY2025	$91K

Expenses by fiscal year
FY2020	$3K
FY2021	$4K
FY2022	$13K
FY2023	$17K
FY2024	$46K
FY2025	$25K

Net assets by fiscal year
FY2020	$760K
FY2021	$822K
FY2022	$851K
FY2023	$909K
FY2024	$928K
FY2025	$994K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

41 cents of each dollar spent went to programs.

41%

59%

Program services 41% · $2K Management & general 59% · $2K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation

Jinsoon Kim

Director

$0Pt VII · Sec A

Stuart Gregory

Director

$0Pt VII · Sec A

Jeff Carlson

Director

$0Pt VII · Sec A

Barry Bollinger

Director

$0Pt VII · Sec A

Ag Carayannis

Director

$0Pt VII · Sec A

Vijay Anand

Director

$0Pt VII · Sec A

Dave Lucia

Chairman

$0Pt VII · Sec A

David Cook

VP/Treasurer

$0Pt VII · Sec A

See Security Plus Financial Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers members financial guarantees at a low cost.

Provided by the organization

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1 program · $2K · in their own filed words · FY2021

01

The sole purpose and activity of the organization is to provide a financial guarantee program for members of the organization substantially at cost. The purpose is to amass a pool of funds from which participating member companies may be compensated for money lost in handling of a transaction for or with another participating member…

$2Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$66K

Ln 12

Fees for servicesLn 2g$34K

Investment incomeLn 3$27K

Other incomeLn 4–11$4K

Money outPt IX

$4K

Ln 25

Programscol B$2K

Managementcol C$2K

Owns and owesPt X

$822K

net assets · Ln 32

Cash and savingsLn 1–2$54K

Total assetsLn 16$868K

LiabilitiesLn 26$45K

PeoplePt VI, VII

8

listed · VII A

PaidVII A0

Voting boardVI 1a8

IndependentVI 1b8

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$34K

Investment incomeLn 3$27K

Other incomeLn 4–11$4K

Gains on assetsLn 7$12K

Total revenueLn 12$66K

Assets in detailPt X, end of year

CashLn 1$54K

Cash and savings togetherLn 1–2$54K

InvestmentsLn 11–13$814K

Total assetsLn 16$868K

LiabilitiesLn 26$45K

Net assetsLn 32$822K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$69K	$54K
InvestmentsLn 11–13	$692K	$814K
Total assetsLn 16	$760K	$868K
LiabilitiesLn 26	$0	$45K
Net assetsLn 32	$760K	$822K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Benefits paid to or for membersLn 4	$2K	$2K
Accounting feesLn 11c	$2K		$2K
Other expenses (24a–d)Ln 24	$45		$45
Total functional expensesLn 25	$4K	$2K	$2K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$91K	$25K	$66K	$994K	990 PDF
FY2024	$65K	$46K	$19K	$928K	990 PDF
FY2023	$75K	$17K	$58K	$909K	990 PDF
FY2022	$42K	$13K	$29K	$851K	990 PDF
FY2021 Viewing	$66K	$4K	$62K	$822K	990 PDF
FY2020	$61K	$3K	$58K	$760K	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2021 990 (4 parts)

Part VIII · Statement of revenue $66,007 across 5 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $34,489$34,489

VIII-3 Investment incomeRelated to mission $15,246$15,246

VIII-7 Net gain or loss on sales of assetsRelated to mission $11,790$11,790

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,482$4,482

VIII-12 Total revenueRelated to mission $66,007 · Unrelated business $0 · Excluded from tax $0$66,007

Part IX · Statement of functional expenses $3,909 across 3 lines filed

IX-4 Benefits paid to or for membersPrograms $1,599$1,599

IX-11c Accounting feesManagement $2,265$2,265

IX-24 Other expenses (24a–d)Management $45$45

IX-25 Total functional expensesPrograms $1,599 · Management $2,310 · Fundraising $0$3,909

Part X · Balance sheet $867,649 assets, 7 lines filed

X-1 Cash, non-interest-bearingStart of year $68,796$53,858

X-11 Publicly traded securitiesStart of year $691,566$813,791

X-16 Total assetsStart of year $760,362$867,649

X-19 Deferred revenue$45,189

X-26 Total liabilitiesStart of year $0$45,189

X-32 Total net assets or fund balancesStart of year $760,362$822,460

X-33 Total liabilities and net assetsStart of year $760,362$867,649

Part XI · Reconciliation of net assets $822,460 net assets at year end

XI-1 Total revenue$66,007

XI-2 Total expenses$3,909

XI-3 Revenue less expenses$62,098

XI-4 Net assets at start of year$760,362

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$822,460

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Security Plus Financial Corporation FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

By the numbers

Filing history

Schedules filed Part IV