Security Benefit Fund Of The Uniformed Firemens Association Loc
Security Benefit Fund consistently provides benefits with stable assets, though recent expenses exceeded revenue.
EIN: 132505742 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $74.1M |
| Total Expenses | $13.4M |
| Program Spending | 90% |
| Net Assets | $71.9M |
| Transparency Score | 85/100 |
Is Security Benefit Fund Of The Uniformed Firemens Association Loc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Security Benefit Fund Of The Uniformed Firemens Association Loc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Security Benefit Fund Of The Uniformed Firemens Association Loc
Security Benefit Fund Of The Uniformed Firemens Association Loc (EIN: 132505742) is a nonprofit organization based in New York, NY. The organization reported total revenue of $74.1M and total assets of $88.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Security Benefit Fund Of The Uniformed Firemens Association Loc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Security Benefit Fund Of The Uniformed Firemens Association Loc is a major nonprofit that has been operating for 62 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -5.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.6M |
| Total Expenses | $13.4M |
| Surplus / Deficit | $-4,792,865 |
| Total Assets | $84.1M |
| Total Liabilities | $12.2M |
| Net Assets | $71.9M |
| Operating Margin | -56.0% |
| Debt-to-Asset Ratio | 14.5% |
| Months of Reserves | 75.6 months |
Financial Health Grade: B
In 2023, Security Benefit Fund Of The Uniformed Firemens Association Loc reported a deficit of $4.8M with expenses exceeding revenue, holds 75.6 months of operating reserves (strong position), has a debt-to-asset ratio of 14.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Security Benefit Fund Of The Uniformed Firemens Association Loc's revenue has declined at a compound annual growth rate (CAGR) of -5.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -45.0% | +4.9% | -1.9% |
| 2022 | -19.2% | +3.3% | -5.5% |
| 2021 | -7.2% | -1.9% | +15.3% |
| 2020 | +10.0% | -4.5% | +12.7% |
| 2019 | -4.8% | -7.4% | +12.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1964 |
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 Security Benefit Fund Of The Uniformed Firemens Association Loc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Security Benefit Fund Of The Uniformed Firemens Association Loc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 $4.8M, with expenses exceeding revenue.
- Debt-to-asset ratio: 14.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received direct compensation from this specific entity, which is a positive sign for minimizing administrative overhead related to leadership salaries.
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 Security Benefit Fund Of The Uniformed Firemens Association Loc's IRS 990 filings:
- Significant deficit in the latest fiscal period (202306) where expenses ($13.3M) substantially exceeded revenue ($8.5M).
- Sudden and sustained increase in liabilities from under $500K in 202106 to over $12M in 202206 and 202306, requiring clarification.
Strengths
The following positive indicators were identified for Security Benefit Fund Of The Uniformed Firemens Association Loc:
- Consistent growth in assets over the past decade, from $47M in 2014 to $84M in 2023, indicating financial stability.
- Reported 0% officer compensation across all filings, suggesting efficient use of funds for direct mission or volunteer leadership.
- Stable expense levels over many years, indicating predictable operational costs for benefit delivery.
Frequently Asked Questions about Security Benefit Fund Of The Uniformed Firemens Association Loc
Is Security Benefit Fund Of The Uniformed Firemens Association Loc a legitimate charity?
Security Benefit Fund Of The Uniformed Firemens Association Loc (EIN: 132505742) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $74.1M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Security Benefit Fund Of The Uniformed Firemens Association Loc spend its money?
Security Benefit Fund Of The Uniformed Firemens Association Loc directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Security Benefit Fund Of The Uniformed Firemens Association Loc tax-deductible?
Security Benefit Fund Of The Uniformed Firemens Association Loc is registered as a tax-exempt nonprofit (EIN: 132505742). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Security Benefit Fund Of The Uniformed Firemens Association Loc's spending goes to programs?
Security Benefit Fund Of The Uniformed Firemens Association Loc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Security Benefit Fund Of The Uniformed Firemens Association Loc located?
Security Benefit Fund Of The Uniformed Firemens Association Loc is headquartered in New York, New York and files with the IRS under EIN 132505742.
How many years of IRS 990 filings does Security Benefit Fund Of The Uniformed Firemens Association Loc have?
Security Benefit Fund Of The Uniformed Firemens Association Loc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $74.1M in total revenue.
Why did expenses significantly exceed revenue in the 202306 period?
In the 202306 period, expenses were $13,357,549 while revenue was $8,564,684, resulting in a deficit of nearly $4.8 million. This could be due to a one-time expense, a dip in investment income, or a strategic draw from reserves to cover benefit payouts.
What is the nature of the liabilities, particularly the increase in 202206 and 202306?
Liabilities increased significantly in 202206 ($12,287,502) and remained high in 202306 ($12,235,938) compared to previous years where they were generally under $500,000. This substantial increase warrants investigation to understand if it represents deferred benefits, short-term debt, or other obligations.
How does the organization manage its investment portfolio to support its mission?
Given the substantial assets ($88.8 million latest) and the nature of a benefit fund, understanding the investment strategy and returns is crucial for long-term sustainability, especially when operating expenses occasionally exceed revenue.
Filing History
IRS 990 filing history for Security Benefit Fund Of The Uniformed Firemens Association Loc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Security Benefit Fund Of The Uniformed Firemens Association Loc's revenue has declined by 50.6%, moving from $17.3M to $8.6M. Total assets increased by 123.2% over the same period, from $37.7M to $84.1M. Total functional expenses fell by 21.4%, from $17.0M to $13.4M. In its most recent filing year (2023), Security Benefit Fund Of The Uniformed Firemens Association Loc reported a deficit of $4.8M, with expenses exceeding revenue. The organization holds $12.2M in liabilities against $84.1M in assets (debt-to-asset ratio: 14.5%), resulting in net assets of $71.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8.6M | $13.4M | $84.1M | $12.2M | — | View 990 |
| 2022 | $15.6M | $12.7M | $85.8M | $12.3M | — | View 990 |
| 2021 | $19.3M | $12.3M | $90.8M | $244K | — | View 990 |
| 2020 | $20.7M | $12.6M | $78.8M | $409K | — | — |
| 2019 | $18.9M | $13.2M | $69.9M | $407K | — | View 990 |
| 2018 | $19.8M | $14.2M | $61.9M | $152K | — | View 990 |
| 2017 | $17.6M | $13.2M | $56.7M | $309K | — | View 990 |
| 2016 | $15.8M | $14.0M | $52.2M | $354K | — | View 990 |
| 2015 | $15.2M | $12.9M | $49.5M | $84K | — | View 990 |
| 2014 | $16.1M | $12.1M | $47.0M | $68K | — | View 990 |
| 2013 | $15.6M | $11.8M | $42.9M | $91K | — | View 990 |
| 2012 | $17.2M | $14.6M | $39.2M | $98K | — | View 990 |
| 2011 | $17.3M | $17.0M | $37.7M | $171K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.6M, expenses of $13.4M, and assets of $84.1M (revenue -45.0% year-over-year).
- 2022: Revenue of $15.6M, expenses of $12.7M, and assets of $85.8M (revenue -19.2% year-over-year).
- 2021: Revenue of $19.3M, expenses of $12.3M, and assets of $90.8M (revenue -7.2% year-over-year).
- 2020: Revenue of $20.7M, expenses of $12.6M, and assets of $78.8M (revenue +10.0% year-over-year).
- 2019: Revenue of $18.9M, expenses of $13.2M, and assets of $69.9M (revenue -4.8% year-over-year).
- 2018: Revenue of $19.8M, expenses of $14.2M, and assets of $61.9M (revenue +12.4% year-over-year).
- 2017: Revenue of $17.6M, expenses of $13.2M, and assets of $56.7M (revenue +11.7% year-over-year).
- 2016: Revenue of $15.8M, expenses of $14.0M, and assets of $52.2M (revenue +3.8% year-over-year).
- 2015: Revenue of $15.2M, expenses of $12.9M, and assets of $49.5M (revenue -5.8% year-over-year).
- 2014: Revenue of $16.1M, expenses of $12.1M, and assets of $47.0M (revenue +3.6% year-over-year).
- 2013: Revenue of $15.6M, expenses of $11.8M, and assets of $42.9M (revenue -9.5% year-over-year).
- 2012: Revenue of $17.2M, expenses of $14.6M, and assets of $39.2M (revenue -0.8% year-over-year).
- 2011: Revenue of $17.3M, expenses of $17.0M, and assets of $37.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Security Benefit Fund Of The Uniformed Firemens Association Loc:
Data Sources and Methodology
This transparency report for Security Benefit Fund Of The Uniformed Firemens Association Loc 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.