USFN

EIN: 330328597

NORTH RICHLAND HILLS, TX

Total Revenue
$2,256,101
Total Expenses
$2,185,697
Total Assets
$1,162,205
Net Assets
$399,519
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
CA
Principal Officer
PAMELA L DONAHOO
Phone
8177700818
Tax Period
2023-12-01 to 2024-11-30

USFN, founded in 1988, is a community nonprofit that reported $2.3M in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year. Expenses of $2.2M left a modest 3% surplus.

Mission

USFN serves its members and mortgage servicing professionals by providing first-in-class education, networking opportunities, publications, and industry advocacy in support of effective and efficient business operations, as well as legal and regulatory compliance.

Program Service Accomplishments

Program 1

The Mortgage default industry slowly emerged from moratoriums imposed on them at the state and federal level that prevent them from moving any foreclosures or other related activities forward...

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The Mortgage default industry slowly emerged from moratoriums imposed on them at the state and federal level that prevent them from moving any foreclosures or other related activities forward. Several member firms have merged or left the business sector. USFN Events saw near return to pre-pandemic levels.

Program 2

USFN PUBLICATIONS: The USFN Report, a quarterly legal publication addressing key issues, case law, and regulatory change, converted to a digital version. Social media (Linked-in and Twitter) were...

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USFN PUBLICATIONS: The USFN Report, a quarterly legal publication addressing key issues, case law, and regulatory change, converted to a digital version. Social media (Linked-in and Twitter) were used to further the reach of articles of vital interest during these unprecedented times. The E-Update continued to address breaking news and other time-sensitive industry legal regulatory, and judicial updates pertinent to the industry. USFN News a bi monthly newsletter with curated and in house produced content was added. USFN rebranded and updated the NMSRD to the USFN Source, a web based serchable digital database of regulations impacting the mortgage, forceclosure, default and bankruptcy space.

Program 3

EDUCATIONIn 2024, USFN produced more than 20 different webinars, seminars, and conferences addressing issues of relevance to all levels of the mortgage servicing industry and related legal...

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EDUCATIONIn 2024, USFN produced more than 20 different webinars, seminars, and conferences addressing issues of relevance to all levels of the mortgage servicing industry and related legal professionals. USFN provided Continuing Legal Education to member attorneys and well as attorneys who work for mortgage servicers. USFN offered more than 12 hours of CLE in 2024 including highly sought-after subjects such as legal ethics.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $203,600
Program Service Revenue $2,041,853
Investment Income $5,638
Other Revenue $5,010
TOTAL REVENUE $2,256,101

Expense Breakdown

Grants Paid $0
Salaries & Benefits $618,795
Fundraising Expenses $0
Other Expenses $1,566,902
TOTAL EXPENSES $2,185,697

Year-over-Year Comparison

2023 2022 Change
Revenue $2,256,101 $2,747,468 -0.2%
Expenses $2,185,697 $2,531,843 -0.1%
Net Income $70,404 $215,625 -0.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
15
Employees
5
Volunteers
400

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$243,468
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAMELA L DONAHOO CEO 40.00
Officer
$210,780 $32,688 $243,468
MELODY RICKLES Director 2.00
Director
$0 $0 $0
ANDY SAAG Director 2.00
Director
$0 $0 $0
ANDREW BRENNER Director 2.00
Director
$0 $0 $0
RICHARD NIELSON Director 2.00
Director
$0 $0 $0
JEFFREY WEISSERMAN Director 2.00
Director
$0 $0 $0
JAMES E CLARKE Vice President 2.00
Officer Director
$0 $0 $0
JILLIAN WILSON Director 2.00
Director
$0 $0 $0
EDDIE JIMENEZ Director 5.00
Director
$0 $0 $0
LANCE OLSEN Director 2.00
Director
$0 $0 $0
CHRISTIANNA KERSEY Director 2.00
Director
$0 $0 $0
ROY DIAZ Director 2.00
Director
$0 $0 $0
BRIGHAM LUNDBERG Director 2.00
Director
$0 $0 $0
SALLY E GARRISON President 2.00
Officer Director
$0 $0 $0
JEANETTE O'DONNELL Director 2.00
Director
$0 $0 $0
ROBERT WICHOWSKI Secretary 2.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $2,256,101 $2,185,697 $1,162,205 $70,404
2023 $2,747,468 $2,531,843 $1,123,270 $215,625
2022 $1,101,499 $1,366,947 $1,564,439 $-265,448
2021 $1,160,556 $947,810 $712,064 $212,746
2020 $1,148,309 $1,004,422 $531,218 $143,887
2019 $2,090,456 $2,197,283 $479,566 $-106,827
2018 $1,712,921 $2,178,400 $485,757 $-465,479
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