Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2015.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
57 people listed on the 990; $4.2M paid to officers and key staff.
Michael Bright’s $1.3M as Chief Executive Officer is at the 98th percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Michael Bright | $1,336,601 | $1,265,779 | $1,265,346 | $1,197,227 | $1,197,787 |
| Kristi Leo | — | $1,127,727 | $865,010 | $800,378 | $800,051 |
| Covell Adams | $737,746 | $691,710 | $666,761 | $605,666 | $605,426 |
| Scott Frame | $583,612 | $368,924 | — | — | — |
| Elen Callahan | $449,398 | $428,647 | $419,298 | $398,685 | $357,455 |
| David Dwyer | $413,001 | — | — | — | — |
| Leslie Sack | $378,024 | $357,330 | $351,671 | $342,830 | $363,944 |
| Jennifer Earyes | — | — | $191,920 | $336,625 | $237,052 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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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 15aYes
Programs and updates
Supports a robust securitization market by coordinating industry policy responses and advocacy through over 30 committees representing more than 360 member organizations.
Questions for Structured Finance Industry Group INC
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Conferences our events were attended by over 10,000 members of the structured finance industry in 2024, including our flagship conference, sfvegas. With over 300 speakers, more than 70 panels, over a dozen keynotes, and countless opportunities for networking, sfvegas is the premier event in the structured finance industry.
Education sfa's newest educational initiative, sfacademy, released 10 modules in 2024 featuring members that are used in training staff, increasing knowledge, and updating viewers on new issues in the field of structured finance.
Consensus with over 360 members, we run over 30 committees and task forces which evaluate the latest in policy announcements and determine the industry response
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $22.8M | $25.9M |
| Land, buildings, equipmentLn 10c | $76K | $42K |
| Total assetsLn 16 | $24.6M | $27.6M |
| LiabilitiesLn 26 | $10.9M | $11.7M |
| Net assetsLn 32 | $13.6M | $15.9M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $2.2M | |||
| Other salaries and wagesLn 7 | $4.3M | |||
| Pension plan contributionsLn 8 | $182K | |||
| Other employee benefitsLn 9 | $372K | |||
| Payroll taxesLn 10 | $380K | |||
| Legal feesLn 11b | $213K | |||
| Accounting feesLn 11c | $115K | |||
| Lobbying feesLn 11d | $847K | |||
| Other fees for servicesLn 11g | $473K | |||
| Advertising and promotionLn 12 | $343K | |||
| Office expensesLn 13 | $56K | |||
| Information technologyLn 14 | $200K | |||
| OccupancyLn 16 | $530K | |||
| TravelLn 17 | $254K | |||
| Conferences, conventions and meetingsLn 19 | $2.2M | |||
| Depreciation, depletion and amortizationLn 22 | $42K | |||
| InsuranceLn 23 | $8K | |||
| Other expenses (24a–d)Ln 24 | $448K | |||
| Total functional expensesLn 25 | $13.2M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $15.4M | $13.2M | $2.2M | $15.9M | 990 PDF |
| FY2023 | $14.5M | $11.7M | $2.8M | $13.6M | 990 PDF |
| FY2022 | $12.0M | $9.9M | $2.1M | $10.6M | 990 PDF |
| FY2021 | $10.1M | $9.1M | $1.1M | $8.5M | 990 PDF |
| FY2020 | $11.7M | $9.4M | $2.3M | $7.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $15,423,194 revenue, 12 lines filed
Part VI · Governance 35 of 35 board members independent, 2 to look at
Part VIII · Statement of revenue $15,423,194 across 4 lines filed
Part IX · Statement of functional expenses $13,194,602 across 18 lines filed
Part X · Balance sheet $27,559,428 assets, 13 lines filed
Part XI · Reconciliation of net assets $15,904,933 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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