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Secured Finance Network Midwest

Not tax-deductible

Mokena, IL501(c)(6)Since 1988Community DevelopmentEIN 20-1500060

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.

54¢ of each $1 spent went to programs.
Run by 50 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $89K a year · 60% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
54%
of spending
Worth a look: 54% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
103 mo
of spending, in cash
Looks good: 102.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$193K
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$173K
-0.4% vs prior year
Spent
$66K
To programs
54%
Net assets
$568K
By yearFY2020–FY2025
Revenue
$173K
FY2025-0.4%
Revenue by fiscal year
FY2020$85K
FY2021$8K
FY2022$93K
FY2023$148K
FY2024$174K
FY2025$173K
Expenses
$66K
FY2025▲ +10%
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$52K
FY2023$55K
FY2024$60K
FY2025$66K
Net assets
$568K
FY2025▲ +23%
Net assets by fiscal year
FY2020$244K
FY2021$212K
FY2022$253K
FY2023$347K
FY2024$461K
FY2025$568K

From the FY2025 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2005.

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

Where the money goes

54 cents of each dollar spent went to programs.

Program services 54% · $35K Management & general 46% · $31K

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

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Sabrina Singh
President
$0Pt VII · Sec A
Samantha Luckman
First Vice President
$0Pt VII · Sec A
Jim Vesecky
Vice President
$0Pt VII · Sec A
Bridget Anderson
Secretary & Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Eric Dorner
Director
$0Pt VII · Sec A
Jason Riley
Director
$0Pt VII · Sec A
See Secured Finance Network Midwest 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

Connects and supports companies in the asset-based financial services industry.

Provided by the organization

This section is blank until Secured Finance Network Midwest claims this page.

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1 program service account for $35K of program spending, described in the organization's own filed words · FY2025.
01

Annual corporate sponsorships to the members of the association and their networking meetings.

$35Kprogram expense

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By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$173K
Ln 12
Gifts and grantsLn 1h$206K
Investment incomeLn 3$10K
Money outPt IX
$66K
Ln 25
Programscol B$35K
Managementcol C$31K
Owns and owesPt X
$568K
net assets · Ln 32
Cash and savingsLn 1–2$567K
Total assetsLn 16$761K
LiabilitiesLn 26$193K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$206K
Investment incomeLn 3$10K
Total revenueLn 12$173K
Assets in detailPt X, end of year
CashLn 1$354K
SavingsLn 2$214K
Cash and savings togetherLn 1–2$567K
InvestmentsLn 11–13$106K
Total assetsLn 16$761K
LiabilitiesLn 26$193K
Net assetsLn 32$568K
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
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
LineStart FY25End FY25
Cash and savingsLn 1–2$448K$567K
InvestmentsLn 11–13$103K$106K
Total assetsLn 16$641K$761K
LiabilitiesLn 26$181K$193K
Net assetsLn 32$461K$568K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$17K$5K$12K
Legal feesLn 11b$440$440
Other fees for servicesLn 11g$21K$18K$3K
Office expensesLn 13$11K$11K
Information technologyLn 14$1K$1K
Conferences, conventions and meetingsLn 19$2K$2K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$12K$12K
Total functional expensesLn 25$66K$35K$31K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $173K$66K$107K$568K 990 PDF
FY2024 $174K$60K$114K$461K 990 PDF
FY2023 $148K$55K$94K$347K 990 PDF
FY2022 $93K$52K$41K$253K 990 PDF
FY2021 $8K$212K 990 PDF
FY2020 $85K$244K 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $173,201 across 6 lines filed
VIII-1b Membership dues$50,230
VIII-1f All other contributions, gifts and grants$155,500
VIII-1h Total contributions, gifts and grants$205,730
VIII-3 Investment incomeExcluded from tax $9,952$9,952
VIII-8 Net income from fundraising eventsExcluded from tax −$42,481−$42,481
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$32,529$173,201
Part IX · Statement of functional expenses $66,190 across 8 lines filed
IX-7 Other salaries and wagesPrograms $5,214 · Management $12,167$17,381
IX-11b Legal feesManagement $440$440
IX-11g Other fees for servicesPrograms $18,073 · Management $3,189$21,262
IX-13 Office expensesManagement $11,079$11,079
IX-14 Information technologyManagement $1,069$1,069
IX-19 Conferences, conventions and meetingsManagement $1,750$1,750
IX-23 InsuranceManagement $1,000$1,000
IX-24 Other expenses (24a–d)Programs $12,209$12,209
IX-25 Total functional expensesPrograms $35,496 · Management $30,694 · Fundraising $0$66,190
Part X · Balance sheet $760,738 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $240,768$353,663
X-2 Savings and temporary cash investmentsStart of year $207,442$213,688
X-4 Accounts receivableStart of year $90,500$87,000
X-12 Other securitiesStart of year $102,682$106,387
X-16 Total assetsStart of year $641,392$760,738
X-17 Accounts payable and accrued expensesStart of year $4,944$4,514
X-19 Deferred revenueStart of year $175,855$188,620
X-26 Total liabilitiesStart of year $180,799$193,134
X-32 Total net assets or fund balancesStart of year $460,593$567,604
X-33 Total liabilities and net assetsStart of year $641,392$760,738
Part XI · Reconciliation of net assets $567,604 net assets at year end
XI-1 Total revenue$173,201
XI-2 Total expenses$66,190
XI-3 Revenue less expenses$107,011
XI-4 Net assets at start of year$460,593
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$567,604

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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