Security Plus Financial Corp
Security Plus Financial Corp maintains strong asset growth and low expenses with no reported officer compensation.
EIN: 161637021 · Salt Lake Cty, UT · NTEE: Y23 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $511K |
| Total Expenses | $17K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $928,118 |
| Net Assets | $909K |
| Transparency Score | 95/100 |
Is Security Plus Financial Corp Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Security Plus Financial Corp directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Security Plus Financial Corp
Security Plus Financial Corp (EIN: 161637021) is a nonprofit organization based in Salt Lake Cty, UT, classified under NTEE code Y23. The organization reported total revenue of $511K and total assets of $928K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Security Plus Financial Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Security Plus Financial Corp is a small nonprofit that has been operating for 23 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $75K |
| Total Expenses | $17K |
| Surplus / Deficit | +$58K |
| Total Assets | $909K |
| Net Assets | $909K |
| Operating Margin | 77.4% |
| Months of Reserves | 643.4 months |
Financial Health Grade: A
In 2023, Security Plus Financial Corp reported a surplus of $58K with revenue exceeding expenses, holds 643.4 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Security Plus Financial Corp's revenue has declined at a compound annual growth rate (CAGR) of -2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +77.2% | +25.7% | +6.8% |
| 2022 | -35.9% | +245.1% | -1.9% |
| 2021 | +7.5% | +21.3% | +14.1% |
| 2020 | -38.6% | -92.5% | +8.3% |
| 2019 | +15.6% | +79.9% | +8.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 Plus Financial Corp with a Mission Score of 95 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Security Plus Financial Corp allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 surplus of $58K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees received compensation from the organization, which is highly unusual for an organization of its size and asset base ($928,118).
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 Plus Financial Corp's IRS 990 filings:
- 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
The following positive indicators were identified for Security Plus Financial Corp:
- 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.
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) some concerns. Mission Score: 95/100. 2 red flags identified, 4 strengths noted.
How does Security Plus Financial Corp spend its money?
Security Plus Financial Corp directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Security Plus Financial Corp tax-deductible?
Security Plus Financial Corp is registered as a tax-exempt nonprofit (EIN: 161637021). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Security Plus Financial Corp CEO make?
Security Plus Financial Corp's highest-compensated officer earns $928,118 annually. The organization reported $511K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Security Plus Financial Corp compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Security Plus Financial Corp is above average for NTEE category Y23 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Security Plus Financial Corp located?
Security Plus Financial Corp is headquartered in Salt Lake Cty, Utah and files with the IRS under EIN 161637021. It is classified under NTEE code Y23.
How many years of IRS 990 filings does Security Plus Financial Corp have?
Security Plus Financial Corp 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 $511K in total revenue.
Is Security Plus Financial Corp a good charity?
Based on the available IRS 990 data, Security Plus Financial Corp appears to be a very efficient organization. It consistently reports 0% officer compensation, maintains low expenses relative to revenue, and has steadily grown its assets. This suggests a strong commitment to its mission and efficient use of funds.
What is the reason for the significant increase in 'Latest Revenue' ($511,221) compared to individual filing periods (e.g., $74,939 in 2023)?
The provided 'Latest Revenue' figure of $511,221 is significantly higher than any single year's revenue reported in the filing history. This could indicate an aggregate figure, a different reporting period, or a substantial one-time grant or donation not reflected in the annual filing summaries provided. Further investigation into the specific 990 form for the period corresponding to this 'Latest Revenue' would be necessary to understand its source.
How does Security Plus Financial Corp manage its operations with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization may be run by volunteers, or that compensation for key personnel is covered by an affiliated entity, or through other means not classified as officer compensation on the 990 form. This is a notable operational model that contributes to its low expense ratios.
Filing History
IRS 990 filing history for Security Plus Financial Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Security Plus Financial Corp's revenue has declined by 25.7%, moving from $101K to $75K. Total assets increased by 210.5% over the same period, from $293K to $909K. Total functional expenses fell by 19.6%, from $21K to $17K. In its most recent filing year (2023), Security Plus Financial Corp reported a surplus of $58K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $75K | $17K | $909K | $0 | — | — |
| 2022 | $42K | $13K | $851K | $0 | — | — |
| 2021 | $66K | $4K | $868K | $45K | — | — |
| 2020 | $61K | $3K | $760K | $0 | — | — |
| 2019 | $100K | $43K | $702K | $0 | — | View 990 |
| 2018 | $87K | $24K | $645K | $0 | — | View 990 |
| 2017 | $83K | $17K | $582K | $0 | — | View 990 |
| 2016 | $88K | $53K | $516K | $0 | — | View 990 |
| 2015 | $104K | $35K | $481K | $0 | — | View 990 |
| 2014 | $110K | $134K | $412K | $0 | — | View 990 |
| 2013 | $97K | $6K | $436K | $0 | — | View 990 |
| 2012 | $100K | $48K | $345K | $0 | — | View 990 |
| 2011 | $101K | $21K | $293K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $75K, expenses of $17K, and assets of $909K (revenue +77.2% year-over-year).
- 2022: Revenue of $42K, expenses of $13K, and assets of $851K (revenue -35.9% year-over-year).
- 2021: Revenue of $66K, expenses of $4K, and assets of $868K (revenue +7.5% year-over-year).
- 2020: Revenue of $61K, expenses of $3K, and assets of $760K (revenue -38.6% year-over-year).
- 2019: Revenue of $100K, expenses of $43K, and assets of $702K (revenue +15.6% year-over-year).
- 2018: Revenue of $87K, expenses of $24K, and assets of $645K (revenue +4.1% year-over-year).
- 2017: Revenue of $83K, expenses of $17K, and assets of $582K (revenue -5.5% year-over-year).
- 2016: Revenue of $88K, expenses of $53K, and assets of $516K (revenue -15.1% year-over-year).
- 2015: Revenue of $104K, expenses of $35K, and assets of $481K (revenue -5.8% year-over-year).
- 2014: Revenue of $110K, expenses of $134K, and assets of $412K (revenue +13.3% year-over-year).
- 2013: Revenue of $97K, expenses of $6K, and assets of $436K (revenue -2.9% year-over-year).
- 2012: Revenue of $100K, expenses of $48K, and assets of $345K (revenue -0.9% year-over-year).
- 2011: Revenue of $101K, expenses of $21K, and assets of $293K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Security Plus Financial Corp:
Data Sources and Methodology
This transparency report for Security Plus Financial Corp 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.