Secor
Secor faces recent operating deficits despite consistent multi-million dollar revenues, with no reported executive compensation.
EIN: 204226894 · Parker, CO · NTEE: K31 · Updated: 2026-03-28
Is Secor Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Secor directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Secor
Secor (EIN: 204226894) is a nonprofit organization based in Parker, CO, classified under NTEE code K31. The organization reported total revenue of $3.8M and total assets of $3.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Secor's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Secor is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -1.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $3.4M |
| Surplus / Deficit | $-695,041 |
| Total Assets | $3.7M |
| Total Liabilities | $3.1M |
| Net Assets | $576K |
| Operating Margin | -26.0% |
| Debt-to-Asset Ratio | 84.5% |
| Months of Reserves | 13.2 months |
Financial Health Grade: C
In 2023, Secor reported a deficit of $695K with expenses exceeding revenue, holds 13.2 months of operating reserves (strong position), has a debt-to-asset ratio of 84.5% (high leverage).
Financial Trends
Over 13 years of filings (2012–2023), Secor's revenue has declined at a compound annual growth rate (CAGR) of -1.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -15.6% | -6.2% | -17.7% |
| 2022 | -7.0% | +20.4% | +104.0% |
| 2021 | -7.0% | +174.4% | -37.2% |
| 2020 | +117.6% | -43.9% | +267.1% |
| 2019 | -37.5% | -16.8% | -16.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Secor with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Secor allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $695K, with expenses exceeding revenue.
- Debt-to-asset ratio: 84.5%.
Executive Compensation Analysis
Secor consistently reports 0% officer compensation across all available filings, indicating that no funds are allocated to executive salaries, which is highly commendable for a nonprofit of its size with annual revenues often exceeding $3 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Secor's IRS 990 filings:
- Consistent operating deficits in recent years (e.g., 2023: -$695,041; 2022: -$421,618).
- Significant increase in liabilities, reaching over $3.1 million in 2023, representing a high proportion of assets.
- Fluctuating asset base with a notable drop from $4,509,380 in 2022 to $3,711,184 in 2023.
Strengths
The following positive indicators were identified for Secor:
- No reported officer compensation across all filings, indicating strong commitment to mission over executive pay.
- Consistent ability to generate multi-million dollar revenues annually.
- Significant asset base, even with recent fluctuations, providing some financial cushion.
Frequently Asked Questions about Secor
Is Secor a legitimate charity?
Based on AI analysis of IRS 990 filings, Secor (EIN: 204226894) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Secor spend its money?
Secor directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Secor tax-deductible?
Secor is registered as a tax-exempt nonprofit (EIN: 204226894). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why have Secor's expenses exceeded its revenue in recent years?
In 2023, expenses were $3,366,679 against revenue of $2,671,638, and in 2022, expenses were $3,588,396 against revenue of $3,166,778. This trend suggests the organization is spending more than it brings in, potentially drawing from reserves or increasing liabilities.
What is the reason for the significant increase in liabilities in recent years?
Liabilities increased from $300,120 in 2021 to $3,237,964 in 2022 and $3,134,809 in 2023. This substantial rise warrants investigation into the nature of these liabilities (e.g., debt, deferred revenue) and their impact on financial health.
How does Secor manage to operate without reporting officer compensation?
The consistent 0% officer compensation across all filings suggests that executive leadership may be entirely volunteer-based or compensated through other means not classified as officer compensation on the 990, which is unusual for an organization of this scale.
What is the long-term sustainability plan given the recent operating deficits?
With expenses consistently exceeding revenue in the last two reported periods, Secor needs a clear strategy to either increase income or reduce expenditures to ensure its financial viability and continued service delivery.
Filing History
IRS 990 filing history for Secor showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2023), Secor's revenue has declined by 16.6%, moving from $3.2M to $2.7M. Total assets increased by 2370.5% over the same period, from $150K to $3.7M. Total functional expenses rose by 5.4%, from $3.2M to $3.4M. In its most recent filing year (2023), Secor reported a deficit of $695K, with expenses exceeding revenue. The organization holds $3.1M in liabilities against $3.7M in assets (debt-to-asset ratio: 84.5%), resulting in net assets of $576K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $3.4M | $3.7M | $3.1M | — | View 990 |
| 2022 | $3.2M | $3.6M | $4.5M | $3.2M | — | View 990 |
| 2021 | $3.4M | $3.0M | $2.2M | $300K | — | View 990 |
| 2020 | $3.7M | $1.1M | $3.5M | $0 | — | View 990 |
| 2019 | $1.7M | $1.9M | $959K | $0 | — | View 990 |
| 2018 | $2.7M | $2.3M | $1.1M | $14K | — | View 990 |
| 2017 | $3.9M | $4.0M | $784K | $18K | — | View 990 |
| 2016 | $3.6M | $3.1M | $885K | $5K | — | View 990 |
| 2016 | $3.4M | $3.1M | $715K | $4K | — | View 990 |
| 2015 | $3.3M | $3.2M | $421K | $0 | — | View 990 |
| 2014 | $2.7M | $2.7M | $325K | $0 | — | View 990 |
| 2013 | $3.9M | $3.7M | $258K | $2K | — | View 990 |
| 2012 | $3.2M | $3.2M | $150K | $7K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $3.4M, and assets of $3.7M (revenue -15.6% year-over-year).
- 2022: Revenue of $3.2M, expenses of $3.6M, and assets of $4.5M (revenue -7.0% year-over-year).
- 2021: Revenue of $3.4M, expenses of $3.0M, and assets of $2.2M (revenue -7.0% year-over-year).
- 2020: Revenue of $3.7M, expenses of $1.1M, and assets of $3.5M (revenue +117.6% year-over-year).
- 2019: Revenue of $1.7M, expenses of $1.9M, and assets of $959K (revenue -37.5% year-over-year).
- 2018: Revenue of $2.7M, expenses of $2.3M, and assets of $1.1M (revenue -31.5% year-over-year).
- 2017: Revenue of $3.9M, expenses of $4.0M, and assets of $784K (revenue +8.9% year-over-year).
- 2016: Revenue of $3.6M, expenses of $3.1M, and assets of $885K (revenue +7.3% year-over-year).
- 2016: Revenue of $3.4M, expenses of $3.1M, and assets of $715K (revenue +3.4% year-over-year).
- 2015: Revenue of $3.3M, expenses of $3.2M, and assets of $421K (revenue +19.2% year-over-year).
- 2014: Revenue of $2.7M, expenses of $2.7M, and assets of $325K (revenue -29.2% year-over-year).
- 2013: Revenue of $3.9M, expenses of $3.7M, and assets of $258K (revenue +20.4% year-over-year).
- 2012: Revenue of $3.2M, expenses of $3.2M, and assets of $150K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Secor:
Data Sources and Methodology
This transparency report for Secor is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.