Overview
What is Secured Finance Foundation?
The Secured Finance Foundation is a nonprofit organization dedicated to offering financial assistance and support to students pursuing education in asset-based lending. They also extend their generosity to secondary schools, colleges, and universities by providing grants and gifts. The primary objective of the foundation is to contribute to the advancement of knowledge in this specific field of finance.
Official website here: www.sfnet.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 63% (Two-Star out of Four Star rating)
The Secured Finance Foundation has received a Two-Star rating from Charity Navigator, which reflects concerns primarily related to its financial performance. The overall score is derived from its accountability and finance metrics, indicating that while the organization demonstrates strong governance practices with a fully independent board and appropriate oversight mechanisms, it struggles with its program expense ratio, showing limited funds directed towards its programs.
Strengths of the organization include a high percentage of independent board members and a well-structured financial oversight committee, which contribute positively to its accountability. Additionally, the organization has established comprehensive policies concerning conflicts of interest, whistleblower protections, and document retention, reinforcing its commitment to ethical governance.
However, the foundation's financial health is called into question, particularly due to a low program expense ratio of just 45.34%, suggesting that a significant portion of its funds may not be allocated directly to its mission-related activities. This underperformance, coupled with a liabilities to assets ratio of 60.66%, raises concerns about the organization’s sustainability and ability to effectively utilize its resources for impactful programming.
This AI summary has been generated from information found on Charity Navigator.
Is Secured Finance Foundation legitimate?
Secured Finance Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Secured Finance Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.sfnet.com
What is the mission statement of Secured Finance Foundation?
The Secured Finance Foundation, as a non-profit organization, is committed to providing financial assistance and support to students pursuing education in asset-based lending. Additionally, the foundation makes grants and contributions to aid secondary schools, colleges, and universities. In essence, its mission is to foster learning and advancement in the field of asset-based lending while also contributing to the educational institutions that shape future generations.
Official website here: www.sfnet.com
Who is the CEO of Secured Finance Foundation?
Richard Gumbrecht is the Board Member/Ceo of Secured Finance Foundation. The CEO's salary of Secured Finance Foundation is $0 and their total compensation is $574,715.
Official website here: www.sfnet.com
What is the revenue of Secured Finance Foundation?
Secured Finance Foundation's revenue in 2022 was $713,005.
Official website here: www.sfnet.com
Who are the executives of Secured Finance Foundation and what are their salaries?
Here are 15 key members and their salaries (Secured Finance Foundation's CEO's salary is $0 and their total compensation is $574,715):
- Compensation: $0
- Related: $560,427
- Other: $14,288
- Compensation: $69,996
- Related: $116,657
- Other: $18,807
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Official website here: www.sfnet.com
Where can I find the form 990 for Secured Finance Foundation?
Secured Finance Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.sfnet.com
Learn more at the official website: www.sfnet.com
Mission Statement of Secured Finance Foundation
The Secured Finance Foundation, a non-profit organization, is committed to providing financial aid and support. Its mission is twofold. Firstly, it offers grants and/or gifts to students who are enrolled in educational programs focused on asset-based lending. This initiative aims to nurture the next generation of professionals in this field, thereby strengthening the sector as a whole. Secondly, the foundation extends its generosity to secondary schools, colleges, and universities, providing them with grants and/or gifts to enhance their educational offerings. By supporting both students and educational institutions, the Secured Finance Foundation plays a significant role in fostering knowledge and skills in the area of asset-based lending.
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Impact
August, 2024
Secured Finance Foundation's impact lies in providing grants and gifts to support students enrolled in educational programs related to asset-based lending. Additionally, the foundation offers financial assistance to secondary schools, colleges, and universities. Through these initiatives, the foundation plays a crucial role in nurturing the next generation of professionals in the field of asset-based lending and supporting educational institutions.
This information is meant to be a general summary of Secured Finance Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$969
- Program Service Revenue: $259,250
- Gross Receipts: $1,024,613
Assets and Liabilities:
- Total Assets: $534,017
- Total Liabilities: $323,942
- Net Assets: $210,075
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HALL OF FAME
Revenue
$259,250
Organization Details
Founding Year
1990
Phone
(212) 792-9390Principal Officer
Richard Gumbrecht
Main Address
370 7TH AVENUE 1801, NEW YORK, NY, 10001
Website
www.sfnet.comNTEE Category
Code: T30J - Philanthropy
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