2026-07-21T14:31:45-05:00 2025-09-30 420714325 RSM US LLP 9355 N WICKHAM ROAD SUITE 304 MELBOURNE FL 32940 990 2024-10-01 770277826 MANAGED FUNDS ASSOCIATION MANA 2027302600 1301 PENNSYLVANIA AVE NW 350 WASHINGTON DC 20004 SHELLEY GUILEY CHIEF ADMINISTRATION OFFICER 2027302600 2026-07-21 1 1 KELLI PECK P01423033 3217516200 2026-07-21 2024 2025-03-06 01:10:19Z BRYAN CORBETT 1301 PENNSYLVANIA AVE NW 350 WASHINGTON DC 20004 30231413 0 X WWW.MFAALTS.ORG X 1991 IL MANAGED FUNDS ASSOCIATION (MFA), BASED IN WASHINGTON, D.C., NEW YORK CITY, BRUSSELS, AND LONDON, REPRESENTS THE GLOBAL ALTERNATIVE ASSET MANAGEMENT INDUSTRY. MFA'S MISSION IS TO ADVANCE THE ABILITY OF ALTERNATIVE ASSET MANAGERS TO RAISE CAPITAL, INVEST IT, AND GENERATE RETURNS FOR THEIR BENEFICIARIES. MFA ADVOCATES ON BEHALF OF ITS MEMBERSHIP AND CONVENES STAKEHOLDERS TO ADDRESS GLOBAL REGULATORY, OPERATIONAL, AND BUSINESS ISSUES. MFA HAS MORE THAN 180 FUND MANAGER MEMBERS, INCLUDING TRADITIONAL HEDGE FUNDS, PRIVATE CREDIT FUNDS, AND HYBRID FUNDS, THAT EMPLOY A DIVERSE SET OF INVESTMENT STRATEGIES. MEMBER FIRMS HELP PENSION PLANS, UNIVERSITY ENDOWMENTS, CHARITABLE FOUNDATIONS, AND OTHER INSTITUTIONAL INVESTORS DIVERSIFY THEIR INVESTMENTS, MANAGE RISK, AND GENERATE ATTRACTIVE RETURNS THROUGHOUT THE ECONOMIC CYCLE. 39 39 0 43 4400 0 0 0 30292299 28974129 1383073 1144784 32219 112500 31707591 30231413 0 0 0 0 15530384 18015346 0 0 0 15522751 11996474 31053135 30011820 654456 219593 37124683 35870788 25248927 23894910 11875756 11975878 X MANAGED FUNDS ASSOCIATION (MFA), BASED IN WASHINGTON, D.C., NEW YORK CITY, BRUSSELS, AND LONDON, REPRESENTS THE GLOBAL ALTERNATIVE ASSET MANAGEMENT INDUSTRY. MFA'S MISSION IS TO ADVANCE THE ABILITY OF ALTERNATIVE ASSET MANAGERS TO RAISE CAPITAL, INVEST IT, AND GENERATE RETURNS FOR THEIR BENEFICIARIES. MFA ADVOCATES ON BEHALF OF ITS MEMBERSHIP AND CONVENES STAKEHOLDERS TO ADDRESS GLOBAL REGULATORY, OPERATIONAL, AND BUSINESS ISSUES. MFA HAS MORE THAN 180 FUND MANAGER MEMBERS, INCLUDING TRADITIONAL HEDGE FUNDS, PRIVATE CREDIT FUNDS, AND HYBRID FUNDS, THAT EMPLOY A DIVERSE SET OF INVESTMENT STRATEGIES. MEMBER FIRMS HELP PENSION PLANS, UNIVERSITY ENDOWMENTS, CHARITABLE FOUNDATIONS, AND OTHER INSTITUTIONAL INVESTORS DIVERSIFY THEIR INVESTMENTS, MANAGE RISK, AND GENERATE ATTRACTIVE RETURNS THROUGHOUT THE ECONOMIC CYCLE. 0 0 ADVOCACY: MFA ADVOCATES ON BEHALF OF ITS MEMBERSHIP AND CONVENES STAKEHOLDERS TO ADDRESS GLOBAL REGULATORY, OPERATIONAL, AND BUSINESS ISSUES. EDUCATION: EACH YEAR, MFA HOLDS DOZENS OF CONFERENCES, FORUMS, AND OTHER EVENTS THAT GIVE OUR MEMBERS THE TOOLS AND INFORMATION THEY NEED TO THRIVE IN AN EVOLVING GLOBAL REGULATORY LANDSCAPE. COMMUNICATION: THROUGH OUTREACH TO JOURNALISTS AND THOUGHT LEADERS, MFA INFORMS COVERAGE OF THE ALTERNATIVE ASSET MANAGEMENT INDUSTRY AND HIGHLIGHTS THE WORK OUR MEMBERS DO TO PROVIDE RETIREMENT SECURITY FOR WORKERS, CAPITAL FOR BUSINESSES, AND INCREASED RESOURCES FOR ENDOWMENTS AND FOUNDATIONS. RESEARCH: MFA ADVANCES THE UNDERSTANDING OF THE ALTERNATIVE ASSET MANAGEMENT INDUSTRY AND POLICIES IMPACTING OUR MEMBERS' ABILITY TO SERVE THEIR INVESTORS THROUGH RESEARCH. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 72 0 1 0 1 1 0 0 0 1 1 0 1 0 X 39 39 0 1 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X X BRICE HADDEN 2027302600 1301 PENNSYLVANIA AVE NW 350 WASHINGTON DC 20004 JODY GUNDERSON CHAIR 2.00 0.00 X X 0 0 0 DAVID ZIRIN VICE CHAIR 2.00 0.00 X X 0 0 0 BARRY KNEE SECRETARY & TREASURER 2.00 0.00 X X 0 0 0 DES ANDERSON ELECTED DIRECTOR 2.00 0.00 X 0 0 0 MARK BAILEY ELECTED DIRECTOR 2.00 0.00 X 0 0 0 DARCY BRADBURY ELECTED DIRECTOR 2.00 0.00 X 0 0 0 BRIAN DOUGLAS ELECTED DIRECTOR 2.00 0.00 X 0 0 0 SHAWN FAGAN ELECTED DIRECTOR 2.00 0.00 X 0 0 0 ANDREW FISHMAN ELECTED DIRECTOR 2.00 0.00 X 0 0 0 BRIAN GAVIN ELECTED DIRECTOR 2.00 0.00 X 0 0 0 MATTHEW GILMARTIN ELECTED DIRECTOR 2.00 0.00 X 0 0 0 REBECCA GINZBURG ELECTED DIRECTOR 2.00 0.00 X 0 0 0 JENNIFER GRAF ELECTED DIRECTOR 2.00 0.00 X 0 0 0 HEATHER HARRIS ELECTED DIRECTOR 2.00 0.00 X 0 0 0 KRISTY KENNEDY ELECTED DIRECTOR 2.00 0.00 X 0 0 0 KRIS MASTRONARDI ELECTED DIRECTOR 2.00 0.00 X 0 0 0 MICHAEL MENDELSON ELECTED DIRECTOR 2.00 0.00 X 0 0 0 CHRIS PAPAGIANIS ELECTED DIRECTOR 2.00 0.00 X 0 0 0 JAMIE RABOY ELECTED DIRECTOR 2.00 0.00 X 0 0 0 ROSE SHABET ELECTED DIRECTOR 2.00 0.00 X 0 0 0 ZION SHOHET ELECTED DIRECTOR 2.00 0.00 X 0 0 0 MATT SICLARI ELECTED DIRECTOR 2.00 0.00 X 0 0 0 JOHN SPINNEY ELECTED DIRECTOR 2.00 0.00 X 0 0 0 MARK SULLIVAN ELECTED DIRECTOR 2.00 0.00 X 0 0 0 KERRY TYLER ELECTED DIRECTOR 2.00 0.00 X 0 0 0 NATHAN URQUHART ELECTED DIRECTOR 2.00 0.00 X 0 0 0 TRACEY YURKO ELECTED DIRECTOR 2.00 0.00 X 0 0 0 ORLY AVIDAN APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 JEFF BOYD APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 SCOTT CARPENTER APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 DYLAN CURLEY APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 ELIZABETH FRIES APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 PHIL HAN APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 NATALIE HORTON APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 SEBASTIEN MAILLEUX APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 EAMON MCCOOEY APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 PENNY NOVICK APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 JAY PELLER APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 LANCE ZINMAN APPOINTED DIRECTOR 2.00 0.00 X 0 0 0 RON BISCARDI NON-VOTING DIRECTOR 2.00 0.00 X 0 0 0 ANDREW PALMER NON-VOTING DIRECTOR 2.00 0.00 X 0 0 0 CARLOS RANGEL NON-VOTING DIRECTOR 2.00 0.00 X 0 0 0 ASH WILLIAMS NON-VOTING DIRECTOR 2.00 0.00 X 0 0 0 BRYAN CORBETT PRESIDENT & CEO 40.00 0.00 X 3092376 0 62755 JENNIFER HAN CHIEF LEGAL OFFICER 40.00 0.00 X 888196 0 69220 PETER DONOVAN COO 40.00 0.00 X 876532 0 62414 JILLIEN FLORES CHIEF ADVOCACY OFFICER 40.00 0.00 X 874571 0 60471 NOAH THERAN HEAD OF GLOBAL EXTERNAL AFFAIRS 40.00 0.00 X 620607 0 68053 NORA RICHARDSON MD, MEMBERSHIP & INVESTOR SERVICES 40.00 0.00 X 494150 0 29107 MATTHEW DAIGLER VP & SR. COUNSEL, REG AFFAIRS 40.00 0.00 X 405798 0 15933 AMY D'ANNUNZIO MD, SPONSORSHIPS & CONFERENCES 40.00 0.00 X 389091 0 28339 ERIK JOHNSON VP, U.S. GOV'T AFFAIRS 40.00 0.00 X 368026 0 15263 JEFFREY HIMSTREET VP & SR. COUNSEL, REG AFFAIRS 40.00 0.00 X 366622 0 74937 8375969 0 486492 31 0 1 0 GIBSON DUNN & CRUTCHER LLP 333 SOUTH GRAND AVE LOS ANGELES CA 90071 LEGAL SERVICES 1322791 SULLIVAN & CROMWELL LLP 125 BROAD STREET NEW YORK NY 10004 LEGAL SERVICES 1140000 NARRATIVE STRATEGIES LLC 1401 H STREET NW STE 750 WASHINGTON DC 20005 COMMUNICATION SVCS 786986 GASTHALTER & CO LP 777 THIRD AVE 32ND FL NEW YORK NY 10017 COMMUNICATION SVCS 257761 FEDERAL HALL POLICY ADVISORS LLC 1455 PENNSYLVANIA AVE NW STE 400 WASHINGTON DC 20004 DOMESTIC LEGISLATIVE & REGULATORY SVCS 227500 22 MEMBERSHIP DUES 624310 24771074 24771074 CONFERENCE REVENUE 541800 4203055 4198655 4400 28974129 1144784 1144784 MISCELLANEOUS 900099 112500 112500 112500 30231413 28969729 4400 1257284 8041636 8183394 299475 672565 818276 1473795 37532 2164801 56724 1556334 599156 406155 561147 1277880 951862 1203412 252525 37572 EXCISE TAX 514886 EXTERNAL EVENTS & SPONS 482811 DUES & SUBSCRIPTIONS 209301 BOARD & COMMITTEES 164523 46058 30011820 12023929 9228612 18218147 19048676 736068 1535530 473681 702165 3689410 2139702 1252286 1549708 4420572 3806097 37124683 35870788 7997494 6877444 10930757 11503856 6320676 5513610 25248927 23894910 X 11875756 11975878 11875756 11975878 37124683 35870788 219593 -119471 0 X X 0 1 X 1 0 MFA PAC 1301 PENNSYLVANIA AVENUE NW SUITE WASHINGTON DC 20004 521945249 0 0 1 24771074 5493445 -3678544 1814901 3658589 -1843688 PART I-C, LINE 5: MFA-PAC IS A SEPARATE SEGREGATED FUND ESTABLISHED UNDER, AND IN ACCORDANCE WITH, FEDERAL ELECTION LAW. MFA-PAC FUNDS ARE USED FOR POLITICAL PURPOSES TO SUPPORT INCUMBENT FEDERAL CONGRESSIONAL CANDIDATES OF BOTH NATIONAL PARTIES. 1922427 779624 1142803 559444 449836 109608 1207539 910242 297297 1549708 SECURITY DEPOSIT 214199 OPERATING LEASE RIGHT-OF-USE ASSETS 3591898 3806097 LEASE LIABILITY 5513610 5513610 X 30111942 -119471 -119471 30231413 0 30231413 30011820 0 30011820 0 30011820 PART X, LINE 2: MFA IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSES. MFA'S PRIMARY UNRELATED BUSINESS ACTIVITY CONSISTS OF ADVERTISING REVENUE. THERE WAS NO SIGNIFICANT UNRELATED BUSINESS INCOME. MFA HAS FILED AN EXEMPT ORGANIZATION UNRELATED BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS. EUROPE (INCLUDING ICELAND & GREENLAND) 2 11 PROGRAM SERVICE ACTIVITIES INT'L LEGISLATIVE, REGULATORY, RESEARCH SERVICES, & EDUCATIONAL EVENTS 1886432 2 11 0 0 2 11 1886432 0 1886432 0 0 0 0 0 0 X 1 1 X X X X 1 0 0 BRYAN CORBETT PRESIDENT & CEO 1188374 0 1900000 0 4002 0 13800 0 48955 0 3155131 0 0 0 JENNIFER HAN CHIEF LEGAL OFFICER 501598 0 385000 0 1598 0 13800 0 55420 0 957416 0 0 0 PETER DONOVAN COO 599892 0 265000 0 11640 0 13800 0 48614 0 938946 0 0 0 JILLIEN FLORES CHIEF ADVOCACY OFFICER 533510 0 340000 0 1061 0 13800 0 46671 0 935042 0 0 0 NOAH THERAN HEAD OF GLOBAL EXTERNAL AFFAIRS 414815 0 205000 0 792 0 13800 0 54253 0 688660 0 0 0 NORA RICHARDSON MD, MEMBERSHIP & INVESTOR SERVICES 323593 0 170000 0 557 0 13800 0 15307 0 523257 0 0 0 JEFFREY HIMSTREET VP & SR. COUNSEL, REG AFFAIRS 279773 0 85000 0 1849 0 13800 0 61137 0 441559 0 0 0 MATTHEW DAIGLER VP & SR. COUNSEL, REG AFFAIRS 298655 0 105000 0 2143 0 13800 0 2133 0 421731 0 0 0 AMY D'ANNUNZIO MD, SPONSORSHIPS & CONFERENCES 248684 0 140000 0 407 0 13800 0 14539 0 417430 0 0 0 ERIK JOHNSON VP, U.S. GOV'T AFFAIRS 297570 0 70000 0 456 0 13800 0 1463 0 383289 0 0 0 PART I, LINE 1A FIRST CLASS AIRFARE IS PERMITTED FOR INTERNATIONAL FLIGHTS OF SIX OR MORE HOURS FOR ALL EMPLOYEES. FORM 990, PART VI, SECTION A, LINE 3 MFA HAS A PROFESSIONAL EMPLOYER ORGANIZATION AGREEMENT WITH TRINET HR CORPORATION TO PROVIDE PERSONNEL, BENEFIT, AND ADMINISTRATIVE SERVICES FOR THE STAFF OF THE ORGANIZATION. MFA DOES NOT DIRECTLY EMPLOY ITS PERSONNEL; ALL SUCH SERVICES ARE PROVIDED THROUGH THE TRINET CONTRACT. TOTAL CASH PAYMENTS TO TRINET FOR THE SALARY, BENEFITS AND ADMINISTRATIVE SERVICES RENDERED FOR THE YEAR ENDED SEPTEMBER 30, 2025, EQUALED $15,572,441. FORM 990, PART VI, SECTION A, LINE 6 MFA OFFERS FIVE MEMBERSHIP CATEGORIES: FOUNDERS COUNCIL, STRATEGIC PARTNER, SUSTAINING, CAPITAL, AND BASIC. FOUNDERS COUNCIL IS COMPRISED OF PREDOMINANTLY LARGE SINGLE-MANAGER HEDGE FUNDS AND STRATEGIC PARTNER IS EXCLUSIVE TO LEADING COUNTERPARTIES AND SERVICE PROVIDERS. ALL OTHER LEVELS CONSIST OF BOTH FUND MANAGERS AND SERVICE PROVIDERS. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS ELECTS AND APPOINTS THE INCOMING BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B LEADERSHIP COMMITTEES, INCLUDING THE EXECUTIVE COMMITTEE AND THE AUDIT AND FINANCE COMMITTEE, CAN ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED 990 IS REVIEWED BY BRYAN CORBETT, PRESIDENT & CEO, BRICE HADDEN, VICE PRESIDENT, ACCOUNTING AND FINANCE, BARRY KNEE, SECRETARY & TREASURER, AND SHELLEY GUILEY, CAO, AS WELL AS THE AUDIT AND FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS PART OF OUR EMPLOYEE MANUAL AND THE FORMS ARE SIGNED BY THE DIRECTORS AND EMPLOYEES ANNUALLY. THE CONFLICT OF INTEREST POLICY IS PART OF THE SEPTEMBER BOARD MEETING AGENDA, IN WHICH THE BOARD DISCUSSES THE POLICY AND MECHANISMS FOR ENFORCEMENT OF THE POLICY. IN ADDITION, THE CHAIRS OF EACH SUBSTANTIVE COMMITTEE ARE REQUIRED TO SIGN THE POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE CEO AND OTHER OFFICERS IS REVIEWED BY THE EXECUTIVE COMMITTEE. COMPENSATION OF OTHER STAFF IS REVIEWED BY THE DEPARTMENT HEADS AND THE CEO AND COO. BOTH REVIEWS USE COMPARABILITY DATA FROM THIRD PARTY SURVEYS AND OTHER PEER ASSOCIATION 990'S. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES THEIR GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PRIOR YEAR. MANAGED FUNDS ASSOCIATION PAC 1301 PENNSYLVANIA AVE NW SUITE 350 WASHINGTON DC 20004 521945249 POLITICAL ACTIVITY DC 527 MFA 0 CENTER FOR ALTERNATIVE INVESTMENT EDUCATION 1301 PENNSYLVANIA AVE NW SUITE 350 WASHINGTON DC 20004 473467663 RESEARCH & EDUCATION DC 501C(3) LINE 7 MFA 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0