2024-08-14T07:15:10-05:00 2023-09-30 454051133 FREED MAXICK CPAS PC 424 MAIN STREET SUITE 800 BUFFALO NY 142023508 990 2022-10-01 133577148 SECURED FINANCE FOUNDATION SECU 2127929390 370 7TH AVENUE 1801 NEW YORK NY 10001 GREG SLOWIK CFO 2127929390 2024-08-12 1 0 MARY MADONIA P00405803 7168472651 2024-08-09 2022 2024-08-08 14:25:15Z RICHARD GUMBRECHT 370 7TH AVENUE 1801 NEW YORK NY 10001 760191 0 X WWW.SFNET.COM X 1990 NY SEE SCHEDULE O 11 11 0 11 0 0 432670 439658 259250 297550 -969 2658 22054 20325 713005 760191 18600 7500 0 0 0 0 0 0 0 580572 643089 599172 650589 113833 109602 534017 541424 323942 197018 210075 344406 X SEE SCHEDULE O 0 0 331635 7500 317875 RAISED FUNDS FOR THE SECURED FINANCE NETWORK,INC. CORPORATE LEARNING AND DEVELOPMENT PROGRAM - A TRAINING PROGRAM THAT WILL BE USED TO EDUCATE PROFESSIONALS IN THE NEAR FUTURE. 331635 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 2 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X THE ORGANIZATION 2127929390 370 7TH AVENUE 1801 NEW YORK NY 10001 ANDREA PETRO BOARD MEMBER 0.20 0.60 X 0 0 0 STEVEN GOLD BOARD MEMBER 0.20 0.60 X 0 0 0 STEWART HAYES BOARD MEMBER 0.20 0.60 X 0 0 0 BETHANI R OPPENHEIMER BOARD MEMBER 0.20 0.60 X 0 0 0 HOWARD A REIN BOARD MEMBER 0.20 0.60 X 0 0 0 CHARLES JOHNSON BOARD MEMBER 0.20 0.60 X 0 0 0 LEONARD PODAIR BOARD MEMBER 0.20 0.60 X 0 0 0 WILLIAM BREWER BOARD MEMBER/CHAIRMAN 0.20 0.60 X X 0 0 0 LIN CHUA BOARD MEMBER 0.20 0.60 X 0 0 0 LINDSAY OFFUTT BOARD MEMBER 0.20 0.60 X 0 0 0 JENNIFER PALMER BOARD MEMBER 0.20 0.60 X 0 0 0 JONATHAN N HELFAT CO-GENERAL COUNSEL 0.20 0.60 X 0 0 0 BOBBI ACORD NOLAND CO-GENERAL COUNSEL 0.20 0.60 X 0 0 0 RICHARD GUMBRECHT BOARD MEMBER/CEO 10.00 30.00 X 0 596464 16896 GREGORY SLOWIK BOARD MEMBER/CFO/BRD SEC & TREAS 10.00 30.00 X 69996 130463 23817 69996 726927 40713 0 0 1 0 KEYBRIDGE RESEARCH LLC 3050 K STREET NW SUITE 220 WASHINGTON DC 20007 CONSULTING 121266 1 439658 439658 HALL OF FAME 900099 297550 297550 297550 2658 2658 OTHER INCOME 900099 20325 20325 20325 760191 317875 0 2658 X 7500 7500 2200 2200 3485 3485 192888 192888 157 107 50 30000 30000 6333 6333 171703 171703 3332 3332 PROGRAM SUPPORT 100008 100008 STAFF SUPPORT 69996 69996 AUDIO/VISUAL 28615 28615 BAD DEBT EXPENSE 16000 16000 18372 17369 1003 650589 331635 318954 0 184934 150723 79200 85000 24000 24000 2195 2195 243688 279506 534017 541424 31000 0 29500 20500 263442 176518 323942 197018 X 210075 344406 210075 344406 534017 541424 109602 24729 0 X X 0 1 X 1 0 X 339800 348451 386230 432670 439658 1946809 40750 79571 281304 317875 719500 339800 389201 465801 713974 757533 2666309 0 0 0 2666309 4761 5134 5106 4943 2658 22602 4761 5134 5106 4943 2658 22602 344561 394335 470907 718917 760191 2688911 0.99160 0.98790 0.00840 0.00970 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO RELATED PARTY 176518 176518 X 784920 24729 24729 760191 0 760191 650589 0 650589 0 650589 PART X, LINE 2: THE FOUNDATION IS A NOT FOR PROFIT ENTITY AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. U.S. GAAP PROVIDES GUIDANCE ON THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT FOR INCOME TAX POSITION THAT THE FOUNDATION HAS TAKEN OR EXPECTS TO TAKE IN IT'S INCOME TAX RETURNS. THE FOUNDATION TAKES MANY TAX POSITIONS RELATIVE TO TAX LAWS, INCLUDING THOSE TAKEN IN DETERMINING WHETHER TAX IS DUE, A REFUND IS OWED, A TAX RETURN NEEDS TO BE FILED, OR THE CHARACTERIZATION OF INCOME IS TAXABLE (FOR EXAMPLE, UNRELATED BUSINESS INCOME) OR NONTAXABLE. THE FOUNDATION HAS NOT RECORDED ANY LIABILITIES RELATING TO UNCERTAIN TAX POSITION. THE FOUNDATION FILES ITS RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX IN THE U.S. FEDERAL JURISDICTION AND ITS ANNUAL FILING OF CHARITABLE ORGANIZATIONS IN NEW YORK STATE. 1 BOYS & GIRLS CLUBS OF THE VALLEY 4309 E BELLEVIEW ST BLDG 14 PHOENIX AZ 85008 860550646 501(C)(3) 5000 0 FMV N/A ANNUAL CONVENTION/5K CHARITY RUN/WALK. 1 PART I, LINE 2: GRANTS ARE ONLY GIVEN TO QUALIFYING ORGANIZATIONS. ALL GRANTS ARE APPROVED BY THE BOARD. 0 0 0 0 0 0 0 0 0 RICHARD GUMBRECHT BOARD MEMBER/CEO 0 401464 0 195000 0 0 0 9150 0 7746 0 613360 0 0 GREGORY SLOWIK BOARD MEMBER/CFO/BRD SEC & TREAS 69996 108463 0 22000 0 0 0 6429 0 17388 69996 154280 0 0 PART I, LINE 3 ALL SALARIES ARE PAID THROUGH SECURED FINANCE NETWORK, INC., A RELATED ENTITY. THE FOUNDATION REIMBURSES SECURED FINANCE NETWORK,INC. FOR A PORTION OF GREG SLOWIK,CFO'S SALARY. THE BOARD OF SECURED FINANCE NETWORK, INC. HAS AN EXECUTIVE COMPENSATION COMMITTEE WHICH REVIEWS ALL EXECUTIVE COMPENSATION. THEIR DETERMINATION OF SALARIES IS BASED ON REVIEW OF THE EMPLOYEE'S JOB PERFORMANCE AND COMPARISON TO THE SALARY LEVELS OF OTHER TAX-EXEMPT ORGANIZATIONS. THEIR DECISIONS ARE FULLY DOCUMENTED. FORM 990, PART I, LINE 1 THE ORGANIZATION WAS FORMED ON JUNE 4, 1990 TO PROVIDE GRANTS AND/OR GIFTS TO ASSIST AND SUPPORT STUDENTS ENROLLED IN EDUCATIONAL PROGRAMS DEALING WITH ASSET BASED LENDING AND TO MAKE GRANTS AND/OR GIFTS TO ASSIST AND FUND SECONDARY SCHOOLS, COLLEGES AND UNIVERSITIES IN SUPPORT OF THEIR ASSET BASED LENDING EDUCATIONAL PROGRAMS. FORM 990, PART III, LINE 1 THE ORGANIZATION WAS FORMED ON JUNE 4, 1990 TO PROVIDE GRANTS AND/OR GIFTS TO ASSIST AND SUPPORT STUDENTS ENROLLED IN EDUCATIONAL PROGRAMS DEALING WITH ASSET BASED LENDING AND TO MAKE GRANTS AND/OR GIFTS TO ASSIST AND FUND SECONDARY SCHOOLS, COLLEGES AND UNIVERSITIES IN SUPPORT OF THEIR ASSET BASED LENDING EDUCATIONAL PROGRAMS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE, INDEPENDENT ACCOUNTING FIRM. A DRAFT COPY OF THE FORM 990 IS PRESENTED TO THE BOARD FOR REVIEW AND COMMENT PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER AND MEMBER OF THE EXECUTIVE COMMITTEE IS REQUIRED TO ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON READ AND UNDERSTANDS THE CONFLICT OF INTEREST POLICY AND AGREES TO COMPLY WITH IT. IN ADDITION, ANY MATERIAL CHANGES IN THEIR ANNUAL STATEMENT MUST BE IMMEDIATELY REPORTED. THE EXECUTIVE COMMITTEE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THIS POLICY BY REVIEWING ANNUAL STATEMENTS AND TAKING ACTION AS NECESSARY. IN ADDITION, PERIODIC REVIEWS OF COMPENSATION ARRANGEMENTS AND CONTRACTS AS WELL AS PARTNERSHIPS, JOINT VENTURES AND ARRANGEMENTS WITH MANAGEMENT ORGANIZATIONS ARE PERFORMED. OUTSIDE ADVISORS MAY BE USED IN THIS PROCESS IF IT IS DEEMED NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 ALL SALARIES ARE PAID THROUGH SECURED FINANCE NETWORK, INC., A RELATED ENTITY. THE FOUNDATION REIMBURSES SECURED FINANCE NETWORK,INC. FOR A PORTION OF GREG SLOWIK,CFO'S SALARY. THE BOARD OF SECURED FINANCE NETWORK, INC. HAS AN EXECUTIVE COMPENSATION COMMITTEE WHICH REVIEWS ALL EXECUTIVE COMPENSATION. THEIR DETERMINATION OF SALARIES IS BASED ON REVIEW OF THE EMPLOYEE'S JOB PERFORMANCE AND COMPARISON TO THE SALARY LEVELS OF OTHER TAX-EXEMPT ORGANIZATIONS. THEIR DECISIONS ARE FULLY DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G MARKET SIZING STUDY: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 192,888. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 192,888. FORM 990, PART XII, LINE 2C THERE HAVE BEEN NO CHANGES TO THE PROCESS FROM THE PREVIOUS YEAR. SECURED FINANCE NETWORK INC 370 7TH AVENUE SUITE 1801 NEW YORK NY 10001 THE DEVELOPMENT OF ASSET BASED FINANCIAL SERVICES NY 501(C)(6) N/A N/A 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 SECURED FINANCE NETWORK INC E 176518 END OF YEAR F/S BALANCE SECURED FINANCE NETWORK INC P 100098 ACCOUNTING RECORDS SECURED FINANCE NETWORK INC N 30000 ACCOUNTING RECORDS SECURED FINANCE NETWORK INC O 69996 ACCOUNTING RECORDS