philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Secured Finance Network Midwest FY2024 filing

Not tax-deductible

Mokena, IL501(c)(6)Since 1988Community Development EIN 20-1500060Revenue $174K in FY2024Latest return filed Jun 1, 2026

On file with the IRSsfnetmidwest.com19250 Everett Ln Ste 103, 60448-8964 · Mokena, ILTax-exempt since Mar 2005

Claim this org

(tell your story, add context, and more) Claim it free, then get the verified mark for $100 a year.

How does your 990 look to donors? Take the 10-Question Audit

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.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
54¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
89 mo
of spending, in cash
Looks good: 89.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$181K
28% of total assets
Looks good: liabilities are 28% 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
$174K
+17% vs prior year
Spent
$60K
To programs
54%
Net assets
$461K
By yearFY2020–FY2025
Revenue
$174K
FY2024▲ +17%
Tap a bar for its year
Revenue by fiscal year
FY2020$85K
FY2021$8K
FY2022$93K
FY2023$148K
FY2024$174K
FY2025$173K
Expenses
$60K
FY2024▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$52K
FY2023$55K
FY2024$60K
FY2025$66K
Net assets
$461K
FY2024▲ +33%
Tap a bar for its year
Net assets by fiscal year
FY2020$244K
FY2021$212K
FY2022$253K
FY2023$347K
FY2024$461K
FY2025$568K

From the FY2024 Form 990 · see the original

Give Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

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% · $33K Management & general 46% · $28K

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

Something off? Claim to add context

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
Jason Hoefler
President
$0Pt VII · Sec A
Sabrina Singh
First Vice President
$0Pt VII · Sec A
Andrew Bennett
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
James Low
Director
$0Pt VII · Sec A
See Secured Finance Network Midwest executive salaries →

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.

Questions for Secured Finance Network Midwest

Tap to ask. Secured Finance Network Midwest sees how many people are interested.

Your first name shows with your question. Secured Finance Network Midwest answers here, for everyone.

1 program · $33K · in their own filed words · FY2024
01

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

$33Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$174K
Ln 12
Gifts and grantsLn 1h$202K
Investment incomeLn 3$10K
Money outPt IX
$60K
Ln 25
Programscol B$33K
Managementcol C$28K
Owns and owesPt X
$461K
net assets · Ln 32
Cash and savingsLn 1–2$448K
Total assetsLn 16$641K
LiabilitiesLn 26$181K
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$202K
Investment incomeLn 3$10K
Total revenueLn 12$174K
Assets in detailPt X, end of year
CashLn 1$241K
SavingsLn 2$207K
Cash and savings togetherLn 1–2$448K
InvestmentsLn 11–13$103K
Total assetsLn 16$641K
LiabilitiesLn 26$181K
Net assetsLn 32$461K
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 FY24End FY24
Cash and savingsLn 1–2$441K$448K
InvestmentsLn 11–13$103K
Total assetsLn 16$506K$641K
LiabilitiesLn 26$159K$181K
Net assetsLn 32$347K$461K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$19K$6K$13K
Legal feesLn 11b$2K$2K
Other fees for servicesLn 11g$15K$13K$2K
Advertising and promotionLn 12$21$21
Office expensesLn 13$6K$6K
Information technologyLn 14$1K$1K
Conferences, conventions and meetingsLn 19$2K$2K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$14K$14K
Total functional expensesLn 25$60K$33K$28K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Jun 1, 2026 $173K$66K$107K$568K 990 PDF
FY2024 ViewingFiled with the IRS Jun 2, 2025 $174K$60K$114K$461K 990 PDF
FY2023Filed with the IRS Jun 21, 2024 $148K$55K$94K$347K 990 PDF
FY2022Filed with the IRS Jun 27, 2023 $93K$52K$41K$253K 990 PDF
FY2021Filed with the IRS May 5, 2022 $8K$212K 990 PDF
FY2020Filed with the IRS Nov 9, 2021 $85K$244K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $173,901 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $198,805$202,265
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $535$9,661
I-11 Other revenuePrior year −$50,974−$38,025
I-12 Total revenuePrior year $148,366$173,901
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $15,244$19,069
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $39,437$41,274
I-18 Total expensesPrior year $54,681$60,343
I-19 Revenue less expensesPrior year $93,685$113,558
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $173,901 across 6 lines filed
VIII-1b Membership dues$23,765
VIII-1f All other contributions, gifts and grants$178,500
VIII-1h Total contributions, gifts and grants$202,265
VIII-3 Investment incomeExcluded from tax $9,661$9,661
VIII-8 Net income from fundraising eventsExcluded from tax −$38,025−$38,025
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$28,364$173,901
Part IX · Statement of functional expenses $60,343 across 9 lines filed
IX-7 Other salaries and wagesPrograms $5,869 · Management $13,200$19,069
IX-11b Legal feesManagement $2,350$2,350
IX-11g Other fees for servicesPrograms $12,919 · Management $1,800$14,719
IX-12 Advertising and promotionManagement $21$21
IX-13 Office expensesManagement $5,871$5,871
IX-14 Information technologyManagement $1,480$1,480
IX-19 Conferences, conventions and meetingsManagement $1,895$1,895
IX-23 InsuranceManagement $1,000$1,000
IX-24 Other expenses (24a–d)Programs $13,938$13,938
IX-25 Total functional expensesPrograms $32,726 · Management $27,617 · Fundraising $0$60,343
Part X · Balance sheet $641,392 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $441,204$240,768
X-2 Savings and temporary cash investments$207,442
X-4 Accounts receivableStart of year $65,000$90,500
X-12 Other securities$102,682
X-16 Total assetsStart of year $506,204$641,392
X-17 Accounts payable and accrued expensesStart of year $4,034$4,944
X-19 Deferred revenueStart of year $155,135$175,855
X-26 Total liabilitiesStart of year $159,169$180,799
X-32 Total net assets or fund balancesStart of year $347,035$460,593
X-33 Total liabilities and net assetsStart of year $506,204$641,392
Part XI · Reconciliation of net assets $460,593 net assets at year end
XI-1 Total revenue$173,901
XI-2 Total expenses$60,343
XI-3 Revenue less expenses$113,558
XI-4 Net assets at start of year$347,035
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$460,593

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.