Secu MD Foundation INC FY2022 filing

Tax-deductible

Linthicum, MD501(c)(3)EducationEIN 82-1896987Revenue $1.3M in FY2022

On file with the IRSsecumdfoundation.org971 Corporate Blvd, 21090-2337 · Linthicum, MDTax-exempt since Oct 2017Publicly supported charity — 170(b)(1)(A)(vi)

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Secu MD foundation's mission is to create a stronger maryland by empowering access to education, supporting health and wellness and serving as a catalyst for community development.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $11K a year · 2% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
16 mo
of spending, in cash
Looks good: 15.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $345K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$244
0.03% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
+233% vs prior year
Spent
$686K
To programs
93%
Net assets
$912K
By yearFY2020–FY2024
Revenue
$1.3M
FY2022▲ +233%
Tap a bar for its year
Revenue by fiscal year
FY2020$563K
FY2021$395K
FY2022$1.3M
FY2023$99K
FY2024$472K
Expenses
$686K
FY2022▲ +143%
Tap a bar for its year
Expenses by fiscal year
FY2020$480K
FY2021$283K
FY2022$686K
FY2023$884K
FY2024$459K
Net assets
$912K
FY2022▲ +226%
Tap a bar for its year
Net assets by fiscal year
FY2020$167K
FY2021$280K
FY2022$912K
FY2023$35K
FY2024$48K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2017.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $638K Management & general 5% · $35K Fundraising 2% · $12K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
President, Director
$0Pt VII · Sec A
Treasurer, Director
$0Pt VII · Sec A
Secretary, Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Charlotte Owsianny’s $96K as Executive Director is at the 81st percentile of top reported officer pay among 1613 $100K–1M education 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.

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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

Empowering education, health, and community development to build a stronger Maryland.

Questions for Secu MD Foundation INC

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Provided by the organization

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3 programs · $638K · in their own filed words · FY2022
01

The kindness campaign was started in 2020 with one idea in mind - that every act of kindness, no matter how small or large, makes the world and our communities a better place. It is our mission to empower our members, employees and marylanders to spread kindness and inspire others to do the same.

$471Kprogram expense
02

Provide scholarships to individuals to defray tuition cost for higher education.

$117Kprogram expense
03

Kindness partner grants

$50Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$345K
Grants paid · 11 grants · $980K · 2022–2024
Unitemized GrantFY2024$122,000
Maryland Food Bank INCMD · FY2024$70,000
Morgan State UniversityFY2024$64,000
Maryland Food Bank INCMD · FY2023$10,000
Unitemized GrantFY2022$117,000

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$1.3M
Other incomeLn 4–11$19K
Money outPt IX
$686K
Ln 25
Programscol B$638K
Managementcol C$35K
Fundraisingcol D$12K
Owns and owesPt X
$912K
net assets · Ln 32
Cash and savingsLn 1–2$892K
Total assetsLn 16$912K
LiabilitiesLn 26$244
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Other incomeLn 4–11$19K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$892K
Cash and savings togetherLn 1–2$892K
Total assetsLn 16$912K
LiabilitiesLn 26$244
Net assetsLn 32$912K
OperationsPt I, VI
EmployeesI 50
VolunteersI 635
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$219K$892K
Total assetsLn 16$280K$912K
LiabilitiesLn 26$0$244
Net assetsLn 32$280K$912K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$257K$257K
Grants to domestic individualsLn 2$117K$117K
Accounting feesLn 11c$17K$17K
Other fees for servicesLn 11g$13K$1K$12K
Office expensesLn 13$9K$9K
Information technologyLn 14$6K$6K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$264K$264K
Total functional expensesLn 25$686K$638K$35K$12K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $472K$459K$13K$48K 990 PDF
FY2023 $99K$884K−$785K$35K 990 PDF
FY2022 Viewing $1.3M$686K$632K$912K 990 PDF
FY2021 $395K$283K$113K$280K 990 PDF
FY2020 $563K$480K$83K$167K 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 FY2022 990 (6 parts)
Part I · Summary $1,317,696 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $361,313$1,298,836
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $33,937$18,860
I-12 Total revenuePrior year $395,250$1,317,696
I-13 Grants and similar amounts paidPrior year $235,506$374,452
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $47,145$311,174
I-18 Total expensesPrior year $282,651$685,626
I-19 Revenue less expensesPrior year $112,599$632,070
Part VI · Governance 0 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members0
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
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $1,317,696 across 5 lines filed
VIII-1d Related organizations$1,220,000
VIII-1f All other contributions, gifts and grants$78,836
VIII-1h Total contributions, gifts and grants$1,298,836
VIII-8 Net income from fundraising eventsExcluded from tax $18,860$18,860
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $18,860$1,317,696
Part IX · Statement of functional expenses $685,626 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $257,452$257,452
IX-2 Grants to domestic individualsPrograms $117,000$117,000
IX-11c Accounting feesManagement $17,167$17,167
IX-11g Other fees for servicesManagement $1,376 · Fundraising $11,852$13,228
IX-13 Office expensesManagement $9,333$9,333
IX-14 Information technologyManagement $6,387$6,387
IX-23 InsuranceManagement $1,126$1,126
IX-24 Other expenses (24a–d)Programs $263,933$263,933
IX-25 Total functional expensesPrograms $638,385 · Management $35,389 · Fundraising $11,852$685,626
Part X · Balance sheet $911,914 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $218,581$892,001
X-4 Accounts receivableStart of year $50,300$14,480
X-9 Prepaid expenses and deferred chargesStart of year $10,719$5,433
X-16 Total assetsStart of year $279,600$911,914
X-17 Accounts payable and accrued expensesStart of year $0$244
X-26 Total liabilitiesStart of year $0$244
X-27 Net assets without donor restrictionsStart of year $279,600$911,670
X-32 Total net assets or fund balancesStart of year $279,600$911,670
X-33 Total liabilities and net assetsStart of year $279,600$911,914
Part XI · Reconciliation of net assets $911,670 net assets at year end
XI-1 Total revenue$1,317,696
XI-2 Total expenses$685,626
XI-3 Revenue less expenses$632,070
XI-4 Net assets at start of year$279,600
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$911,670

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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