2022-11-10T17:11:02-06:00 2021-12-31 420714325 RSM US LLP 1001 WATER ST STE 500 TAMPA FL 33602 990 2021-01-01 462258052 STRUCTURED FINANCE INDUSTRY GROUP INC STRU 2025246300 1776 I STREET NW 501 WASHINGTON DC 20006 COVELL ADAMS CHIEF OPERATING OFFICER 2025246300 2022-11-10 1 COVELL ADAMS XXX-XX-XXXX KRISTEN BARNETT P01234578 8133162300 2022-11-10 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z STRUCTURED FINANCE ASSOCIATION MICHAEL BRIGHT 1776 I STREET NW 501 WASHINGTON DC 20006 10124152 0 X WWW.STRUCTUREDFINANCE.ORG X 2013 DE STRUCTURED FINANCE ASSOCIATION WAS ESTABLISHED WITH THE CORE MISSION OF SUPPORTING A ROBUST AND LIQUID SECURITIZATION MARKET, RECOGNIZING THAT SECURITIZATION IS AN ESSENTIAL SOURCE OF CORE FUNDING FOR THE REAL ECONOMY. 44 44 19 3500 0 0 0 0 11484697 10064846 95984 43287 92522 16019 11673203 10124152 8800 0 0 0 5912649 6016579 0 0 0 3486018 3052012 9407467 9068591 2265736 1055561 11484195 15991884 4013678 7465806 7470517 8526078 STRUCTURED FINANCE ASSOCIATION WAS ESTABLISHED WITH THE CORE MISSION OF SUPPORTING A ROBUST AND LIQUID SECURITIZATION MARKET, RECOGNIZING THAT SECURITIZATION IS AN ESSENTIAL SOURCE OF CORE FUNDING FOR THE REAL ECONOMY. 0 0 EDUCATING MEMBERS, LEGISLATORS, REGULATORS, AND OTHER CONSTITUENCIES ABOUT STRUCTURED FINANCE, SECURITIZATION, AND RELATED CAPITAL MARKETS THROUGH (BUT NOT LIMITED TO) SFA-PRODUCED MATERIALS, PRESENTATIONS, FORUMS, AND CONFERENCES. BUILDING THE BROADEST POSSIBLE CONSENSUS AMONG MEMBERS ON POLICY, LEGAL, REGULATORY, AND OTHER MATTERS AFFECTING OR POTENTIALLY AFFECTING THE STRUCTURED FINANCE, SECURITIZATION, AND RELATED CAPITAL MARKETS. ADVOCATING ON BEHALF OF THE STRUCTURED FINANCE AND SECURITIZATION INDUSTRY WITH RESPECT TO POLICY, LEGAL, REGULATORY, AND OTHER MATTERS AFFECTING OR POTENTIALLY AFFECTING THE STRUCTURED FINANCE, SECURITIZATION, AND RELATED CAPITAL MARKETS. 0 0 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 26 0 1 19 1 0 0 0 0 0 0 1 0 X 44 44 0 0 0 0 1 0 0 1 0 0 0 0 1 0 1 0 0 1 1 0 X COVELL ADAMS COO 2025246300 1776 I STREET NW 501 WASHINGTON DC 20006 PAT SCHULZE CHAIR 1.50 1.00 X X 0 0 0 CHRIS ABATE CHAIR UNTIL 11/2021 1.50 1.00 X X 0 0 0 NANCY MUELLER HANDAL VICE CHAIR 1.50 1.00 X X 0 0 0 CAROL HITSELBERGER SECRETARY 1.50 X X 0 0 0 ANNA-LIZA HARRIS SECRETARY UNTIL 11/2021 1.50 1.50 X X 0 0 0 ANDREW DAVIDSON TREASURER 1.50 1.50 X X 0 0 0 ALBERTA KNOWLES TREASURER UNTIL 11/2021 1.50 X X 0 0 0 MICHAEL BROWN DIRECTOR - EXE COMMITTEE FROM 10/21 1.00 X 0 0 0 JOHN DAHL DIRECTOR - EXECUTIVE COMMITTEE 1.00 X 0 0 0 DONEENE DAMON DIRECTOR - EXECUTIVE COMMITTEE 1.00 X 0 0 0 ARMANDO FALCON DIRECTOR - EXECUTIVE COMMITTEE 1.00 X 0 0 0 SHELI FITZGERALD DIRECTOR - EXECUTIVE COMMITTEE 1.00 X 0 0 0 BOB BEHAL DIRECTOR 1.00 X 0 0 0 JASON BEHNKE DIRECTOR 1.00 X 0 0 0 NATALEE BINKHOLDER DIRECTOR 1.00 X 0 0 0 JON BOSWELL DIRECTOR 1.00 X 0 0 0 MATT BUCKLEY DIRECTOR 1.00 X 0 0 0 SELENA BULLOCK DIRECTOR 1.00 X 0 0 0 JOHN CLEMENTS DIRECTOR 1.00 X 0 0 0 KATHYANNE COHEN DIRECTOR 1.00 X 0 0 0 VANDY FARTAJ DIRECTOR 1.00 X 0 0 0 TRICIA HAZELWOOD DIRECTOR 1.00 X 0 0 0 CHRISSI JOHNSON DIRECTOR 1.00 X 0 0 0 ADAMA KAH DIRECTOR 1.00 X 0 0 0 ROSEMARY KELLEY DIRECTOR 1.00 X 0 0 0 BERNADETTE KOGLER DIRECTOR 1.00 X 0 0 0 ELIZA KWONG DIRECTOR 1.00 X 0 0 0 ANDI MANDELL DIRECTOR 1.00 X 0 0 0 MARK MICHAEL DIRECTOR 1.00 X 0 0 0 STEVE MOFFITT DIRECTOR 1.00 X 0 0 0 MICHELE OLDS DIRECTOR 1.00 X 0 0 0 WILLIAM SHIRLEY DIRECTOR 1.00 X 0 0 0 RON SION DIRECTOR 1.00 X 0 0 0 RYAN STARK DIRECTOR 1.00 X 0 0 0 NEIL WEIDNER DIRECTOR 1.00 X 0 0 0 GREG WESTON DIRECTOR 1.00 X 0 0 0 MIKE MAXWELL DIRECTOR STARTING 03/2021 1.00 X 0 0 0 BETH ANN BOVINO DIRECTOR STARTING 04/2021 1.00 X 0 0 0 PHILIP BALES DIRECTOR STARTING 08/2021 1.00 X 0 0 0 FERRA AZEEZ-MELLAND DIRECTOR STARTING 11/2021 1.00 X 0 0 0 MATTHEW HAYS DIRECTOR STARTING 11/2021 1.00 X 0 0 0 COURTNEY HOUSTON-CARTER DIRECTOR STARTING 11/2021 1.00 X 0 0 0 DAVE KUCERA DIRECTOR STARTING 11/2021 1.00 X 0 0 0 AASHH PAREKH DIRECTOR STARTING 11/2021 1.00 X 0 0 0 PERRY RAHBAR DIRECTOR STARTING 11/2021 1.00 X 0 0 0 CHARLIE SWEET DIRECTOR STARTING 11/2021 1.00 X 0 0 0 AMY MCDANIEL WILLIAMS DIRECTOR STARTING 11/2021 1.00 X 0 0 0 KEVIN CHAVERS DIRECTOR UNTIL 04/2021 1.00 X 0 0 0 JILLIAN FITZPATRICK DIRECTOR UNTIL 01/2021 1.00 X 0 0 0 GREGG SILVER DIRECTOR UNTIL 01/2021 1.00 X 0 0 0 CHERIE WILSON DIRECTOR UNTIL 01/2021 1.00 X 0 0 0 JIM STRINGFELLOW DIRECTOR UNTIL 10/2021 1.00 X 0 0 0 GARY HORBACZ DIRECTOR UNTIL 11/2021 1.00 X 0 0 0 VALERIE KAY DIRECTOR UNTIL 11/2021 1.00 X 0 0 0 MICHAEL LLODRA DIRECTOR UNTIL 11/2021 1.00 X 0 0 0 PATRICK SARGENT DIRECTOR UNTIL 11/2021 1.00 X 0 0 0 KENT SMITH DIRECTOR UNTIL 11/2021 1.00 X 0 0 0 GORDON SWEELY DIRECTOR UNTIL 11/2021 1.00 X 0 0 0 KEVIN SWEENEY DIRECTOR UNTIL 11/2021 1.00 X 0 0 0 MICHAEL BRIGHT CHIEF EXECUTIVE OFFICER 39.00 1.00 X 1197227 0 52799 KRISTI LEO PRESIDENT 39.00 1.00 X 800378 0 40038 COVELL ADAMS CHIEF OPERATING OFFICER 40.00 X 605666 0 56042 LESLIE SACK MANAGING DIRECTOR 38.00 2.00 X 342830 0 55549 JENNIFER EARYES MANAGING DIRECTOR 40.00 X 336625 0 48537 ELEN CALLAHAN MANAGING DIRECTOR 40.00 X 398685 0 52411 DALLIN MERRILL DIRECTOR 40.00 X 201627 0 47659 ANNE RAWNSLEY DIRECTOR 40.00 X 166058 0 13780 BRITTANY HINCA SENIOR VICE PRESIDENT 40.00 X 129792 0 12107 BENJAMIN PARISH VICE PRESIDENT 40.00 X 125523 0 19880 ALYSSA ACEVEDO VICE PRESIDENT 40.00 X 112801 0 35991 4417212 0 434793 11 0 1 0 CVENT 1765 GREENSBORO STATION PLACE TYSONS CORNER VA 22102 CONFERENCE REGISTRATION AND PLANNING 229403 BRIDGE PUBLIC AFFAIRS 832 GEORGIA AVENUE CHATTANOOGA TN 37402 PUBLIC RELATIONS CONSULTING 185373 PORTFIELD FETTIG & SEARS 400 NORTH CAPITOL STREET NW WASHINGTON DC 20001 GOVERNMENT RELATIONS 150000 THE WILLIAMS GROUP DC LLC 1845 MONROE STREET NE WASHINGTON DC 20018 GOVERNMENT RELATIONS 121429 MORGAN LEWIS & BOCKIUS LLP 1701 MARKET STREET PHILADELPHIA PA 19103 LEGAL SERVICES 117160 5 MEMBERSHIP DUES 900099 5421025 5421025 CONFERENCE REVENUE 900099 4643821 1095927 3547894 10064846 43287 43287 OTHER INCOME 900099 16019 16019 16019 10124152 6516952 0 3607200 4016221 1416769 74656 247791 261142 111408 33266 361429 475250 21604 46442 147744 535438 74118 1013841 64583 6886 DUES & SUBSCRIPTIONS 85629 COMMENT LETTERS 54596 OTHER EXPENSES 19778 9068591 10802694 15438411 11000 3000 465641 400473 517602 369274 203791 148328 1069 1672 11484195 15991884 1365786 1915156 2362850 5293633 285042 257017 4013678 7465806 X 7470517 8526078 7470517 8526078 11484195 15991884 1055561 0 X 0 1 X 1 0 0 0 1 5421025 1915328 1221035 3136363 1806789 1329574 517602 369274 148328 148328 DEFERRED RENT 257017 257017 X 10279473 155321 155321 10124152 0 10124152 9336436 267845 267845 9068591 0 9068591 PART X, LINE 2: SFA AND SFC HAVE BEEN APPROVED FOR TAX EXEMPT STATUS UNDER SECTION 501(C)(6) AND THE FOUNDATION HAS BEEN APPROVED FOR TAX EXEMPT STATUS UNDER 501(C)(3) OF THE CODE AND HAS BEEN DETERMINED TO NOT BE A PRIVATE FOUNDATION. SFC PAC IS EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER SECTION 527(F)(3) OF THE CODE ON ITS EXEMPT ACTIVITIES INCOME. NO SIGNIFICANT UNRELATED BUSINESS INCOME TAX EXPENSE HAS BEEN RECOGNIZED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT EVALUATED EACH ENTITYS TAX POSITION AND CONCLUDED THAT THE ENTITIES HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITY REVENUE INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 155,321. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITY EXPENSES INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 267,845. X X X X 0 0 0 MICHAEL BRIGHT CHIEF EXECUTIVE OFFICER 696387 0 500000 0 840 0 17400 0 37723 0 1252350 0 0 0 KRISTI LEO PRESIDENT 598446 0 200000 0 1932 0 17400 0 24482 0 842260 0 0 0 COVELL ADAMS CHIEF OPERATING OFFICER 464826 0 140000 0 840 0 17400 0 40486 0 663552 0 0 0 ELEN CALLAHAN MANAGING DIRECTOR 346753 0 50000 0 1932 0 17400 0 36855 0 452940 0 0 0 LESLIE SACK MANAGING DIRECTOR 281990 0 60000 0 840 0 17400 0 41160 0 401390 0 0 0 JENNIFER EARYES MANAGING DIRECTOR 295869 0 40000 0 756 0 17400 0 34148 0 388173 0 0 0 DALLIN MERRILL DIRECTOR 171098 0 30000 0 529 0 12300 0 36875 0 250802 0 0 0 ANNE RAWNSLEY DIRECTOR 153060 0 12500 0 498 0 10050 0 5129 0 181237 0 0 0 FORM 990, PART I, LINE 6, NUMBER OF VOLUNTEERS: WE ARE A MEMBER DRIVEN ORGANIZATION, AND OUR COMMENT LETTERS REFLECT THE OPINIONS OF OUR MEMBERSHIP. INDIVIDUALS CONTRIBUTING THEIR OPINIONS MAY BE APPROXIMATELY 3,500. FORM 990, PART VI, SECTION A, LINE 6 STRUCTURED FINANCE ASSOCIATION HAD APPROXIMATELY 360 MEMBERS AS OF DECEMBER 31, 2021. THERE ARE TWO TYPES OF CLASSES AS DEFINED IN THE BY-LAWS. PRIMARY MEMBERSHIPS ARE OPEN TO INSTITUTIONAL CORPORATIONS AND ASSOCIATE MEMBERSHIPS ARE OPEN TO INDIVIDUALS (NON-VOTING RIGHTS). FORM 990, PART VI, SECTION A, LINE 8B STRUCTURED FINANCE ASSOCIATION HAD 44 INSTITUTIONAL MEMBERS ON ITS BOARD AS OF DECEMBER 31, 2021, MOST OF WHICH SERVE ON ONE OR MORE COMMITTEES. ACTIONS TAKEN BY THE STANDING COMMITTEES AS DEFINED IN THE BYLAWS ARE APPROVED BY BOD DURING THE QUARTERLY MEETINGS FORM 990, PART VI, SECTION B, LINE 11B THE CHIEF OPERATING OFFICER REVIEWS THE 990 IN DETAIL WITH THE CONTROLLER PRIOR TO FILING; GENERAL REVIEW IS CONDUCTED BY THE CEO, THE CHAIR OF THE BOARD, AND THE TREASURER. FORM 990, PART VI, SECTION B, LINE 12C PER OUR BYLAWS ARTICLE VII, COMMITTEES, SECTION 5, QUORUM & VOTING - IF A MEMBER IS COMPRISED OF MULTIPLE ENTITIES, EACH PERFORMING AN INDEPENDENT FUNCTION (E.G. FINANCIAL GUARANTOR, ISSUER, BROKER/DEALER, INVESTOR, ETC.), SUCH MEMBER'S REPRESENTATIVES SHALL BE ENTITLED TO VOTE IN MORE THAN ONE COMMITTEE; PROVIDED THAT SUCH MEMBER, WITH REGARD TO THE COMMITTEE AT ISSUE, DOES NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE SUBJECT MATTER OF THE RELEVANT VOTE INCLUDING, FOR EXAMPLE, ON ACCOUNT OF THE CONTROL OF ONE RELATED ENTITY BY ANOTHER OR THE OVERWHELMING INTEREST OF THE INSTITUTION AS A WHOLE. ANY COMMITTEE MEMBER WHO BELIEVES THAT ANOTHER COMMITTEE MEMBER HAS BEEN IMPROPERLY PERMITTED TO VOTE ON A MATTER WHERE THE RELEVANT MEMBER HAS SUCH CONFLICT OF INTEREST MAY APPEAL SUCH CONFLICTED COMMITTEE MEMBER'S VOTE TO THE CEO, WHO SHALL REVIEW AND DECIDE WHETHER TO PERMIT THE VOTE TO COUNT, IN CONSULTATION WITH THE EXECUTIVE COMMITTEE. THE DECISION OF THE CEO, IN CONSULTATION WITH THE EXECUTIVE COMMITTEE, SHALL BE APPEALABLE SOLELY TO THE CONFLICT RESOLUTION COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 STRUCTURED FINANCE INDUSTRY GROUP HAS ORGANIZED A COMPENSATION COMMITTEE THAT CONSISTS OF SEVEN (7) MEMBERS: AT LEAST FOUR (4) MEMBERS OF THE BOARD, OF WHICH AT LEAST TWO (2) OF WHOM SHALL NOT BE OFFICERS, AND UP TO TWO (2) NON-BOARD MEMBER REPRESENTATIVES. THE COMPENSATION STRUCTURE FOR SFIG IS TO A DEGREE DISCRETIONARY, DUE TO THE REQUIREMENTS OF STAFF NEEDING TO APPLY A SIGNIFICANT DEGREE OF STRUCTURED FINANCE EXPERTISE COMBINED WITH SKILLSETS RELATED TO D.C. ADVOCACY WITHIN A NON-PROFIT/TRADE ORGANIZATION STRUCTURE. THIS HYBRID EXPERIENCE REQUIREMENT MAKES SPECIFIC BENCHMARKING DIFFICULT IN THAT THE AVAILABILITY OF RELEVANT PUBLIC DATA IS EXTREMELY LIMITED. AS SUCH, THE ORGANIZATION RELIES UPON THE DEEP EXPERIENCE PROVIDED VIA THE MEMBERS OF THE COMPENSATION COMMITTEE ACROSS MULTIPLE INDUSTRY PLATFORMS, GIVING REGARD TO THE FOLLOWING FIVE KEY FACTORS: I) KNOWLEDGE OF EXISTING COMPENSATION FOR SUCCESSFUL CANDIDATES (BENCHMARKING TO SIMILAR POSITIONS), II) KNOWLEDGE OF REQUIRED COMPENSATION FOR ALL VIABLE CANDIDATES (I.E., THOSE SELECTED FOR INTERVIEW (RANGE BOUNDING COMPENSATION), III) REFERENCE TO BUDGET BASED OFF ASSESSMENT OF ACHIEVEMENT OF INDIVIDUAL, DEPARTMENTAL AND CORPORATE GOALS THAT ARE ESTABLISHED ANNUALLY, IV) REFERENCE TO GENERALLY "WELL-KNOWN" FINANCIAL SERVICES COMPENSATION MODELS, AND V) BENCHMARK AGAINST OTHER ASSOCIATIONS OF SIMILAR SIZE AND NATURE WITH SPECIFIC EMPHASIS ON KEY RATIOS SUCH AS SALARIES TO INCOME, SALARIES TO PROFITS, SALARIES TO MEMBERSHIP FEES. THE PROCESS ALSO APPLIES TO OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE UPON EMAIL REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). BY-LAWS ARE AVAILABLE TO MEMBERS ONLY, BY EMAIL REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). SFIG FOUNDATION INC 1776 I STREET NW STE 501 WASHINGTON DC 20006 813982260 CHARITABLE ORGANIZATION NY 501(C)(3) LINE 12A, I STRUCTURED FINANCE INDUSTRY GROUP INC 1 STRUCTURED FINANCE COALITION INC 1776 I STREET NW STE 501 WASHINGTON DC 20006 815393177 TRADE ASSOCIATION DE 501(C)(6) STRUCTURED FINANCE INDUSTRY GROUP INC 1 STRUCTURED FINANCE COALITION INC POLITICAL ACTION COMMITTEE 1776 I STREET NW STE 501 WASHINGTON DC 20006 815400419 PAC DE 527 STRUCTURED FINANCE COALITION INC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 SFIG FOUNDATION O 95596 TIMESHEETS STRUCTURED FINANCE COALITION INC O 158606 TIMESHEETS