Quick charity verification for Security Plus Financial Corp (EIN: 161637021)
Verdict: Security Plus Financial Corp appears trustworthy
95/100Mission Score
$511KRevenue
$928KAssets
2Red Flags
4Strengths
Red Flags
Discrepancy between 'Latest Revenue' ($511,221) and individual filing revenues requires clarification.
Consistent 0% officer compensation is unusual for an organization with growing assets, raising questions about operational structure and sustainability.
Strengths
Consistent asset growth, from $412,046 in 2014 to $909,233 in 2023.
Extremely low expense ratios relative to revenue (e.g., 2023 expenses $16,957 vs. revenue $74,939).
Zero reported officer compensation across all filings, indicating high dedication of funds to mission.
No reported liabilities in most recent filings (2023, 2022, 2020, 2019, 2018, 2017, 2016, 2015, 2014), indicating strong financial health.
Spending Breakdown
How Security Plus Financial Corp allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Security Plus Financial Corp
Is Security Plus Financial Corp a legitimate charity?
Based on AI analysis of IRS 990 filings, Security Plus Financial Corp (EIN: 161637021) appears trustworthy. Mission Score: 95/100. 2 red flags identified, 4 strengths noted.
Is Security Plus Financial Corp a good charity to donate to?
Security Plus Financial Corp has a Mission Score of 95/100. Revenue: $511K. Assets: $928K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Security Plus Financial Corp?
The Employer Identification Number (EIN) for Security Plus Financial Corp is 161637021. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Security Plus Financial Corp spend its money?
Security Plus Financial Corp allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Security Plus Financial Corp's tax-exempt status?
You can verify Security Plus Financial Corp's tax-exempt status using EIN 161637021 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Security Plus Financial Corp demonstrates consistent financial stability with growing assets and a history of low liabilities. The organization's revenue has fluctuated over the years, with a notable peak in the latest reported revenue of $511,221, significantly higher than previous years' individual filings. This suggests a potential one-time event or a change in reporting. Expense ratios have generally been low compared to revenue, indicating efficient operations. For instance, in 2023, expenses were $16,957 against $74,939 in revenue, and in 2022, $13,489 against $42,280. The consistent reporting of 0% officer compensation across all filings indicates a strong commitment to directing funds towards the organization's mission rather than executive salaries, enhancing its transparency and public trust. The organization's NTEE code Y23 (Credit Counseling & Debt Management) suggests a focus on financial services, and the financial data supports a lean operational model.