MUNICIPAL SECURITIES RULEMAKING BOARD: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- MUNICIPAL SECURITIES RULEMAKING BOARD (EIN 52-1042433)
- Tax period
- 2023-10-01 to 2024-09-30
- Filed
- 2025-08-07
- IRS object ID
- 202542199349302109
- Schema version
- 2023v6.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-08-07T15:27:07-05:00 | ReturnTs |
| Tax Period End | 2024-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 991856619 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON ADVISORS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 WILSON BOULEVARD SUITE 1500 | AddressLine1Txt |
| City | ARLINGTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 22209 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521042433 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MUNICIPAL SECURITIES RULEMAKING BOARD | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MUNI | BusinessNameControlTxt |
| Phone | 2028381500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1300 I STREET NW STE 1000 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MARK T KIM | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 2028381500 | PhoneNum |
| Signature | 2025-08-07 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MARY TORRETTA | PreparerPersonNm |
| PTIN | P00847851 | PTIN |
| Phone | 7038477500 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MARK T KIM | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1300 I STREET NW STE 1000 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $56,090,410 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.MSRB.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1975 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | SEE SCHEDULE O | ActivityOrMissionDesc |
| Voting Members Governing Body | 15 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 15 | VotingMembersIndependentCnt |
| Total Employee | 148 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $44,979,616 | PYContributionsGrantsAmt |
| CY Contributions Grants | $51,015,785 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $2,821,822 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,831,775 | CYProgramServiceRevenueAmt |
| PY Investment Income | $788,355 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,195,868 | CYInvestmentIncomeAmt |
| PY Other Revenue | $4,260 | PYOtherRevenueAmt |
| CY Other Revenue | $7,007 | CYOtherRevenueAmt |
| PY Total Revenue | $48,594,053 | PYTotalRevenueAmt |
| CY Total Revenue | $56,050,435 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $25,413,895 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $26,905,164 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $21,466,092 | PYOtherExpensesAmt |
| CY Other Expenses | $22,246,094 | CYOtherExpensesAmt |
| PY Total Expenses | $46,879,987 | PYTotalExpensesAmt |
| CY Total Expenses | $49,151,258 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,714,066 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $6,899,177 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $76,222,195 | TotalAssetsBOYAmt |
| Total Assets EOY | $84,065,143 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $17,515,794 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $17,055,530 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $58,706,401 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $67,009,613 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE O | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | MARKET REGULATION: MSRB WAS ESTABLISHED BY CONGRESS TO REGULATE SECURITIES FIRMS, BANKS AND MUNICIPAL ADVISORS THAT TRANSACT IN MUNICIPAL SECURITIES AND ENGAGE IN MUNICIPAL ADVISORY ACTIVITIES (COLLECTIVELY "REGULATED ENTITIES") WITH THE GOAL OF PROTECTING INVESTORS, MUNICIPAL ENTITIES, OBLIGATED PERSONS AND THE PUBLIC INTEREST. (CONTINUED ON SCHEDULE O)MSRB'S REGULATORY ACCOMPLISHMENTS IN FISCAL YEAR (FY) 2024 INCLUDE: - MSRB RECEIVED SEC APPROVAL TO AMEND MSRB RULE G-47, ON TIME OF TRADE DISCLOSURE, TO PROVIDE THREE NEW TIME OF TRADE DISCLOSURE SCENARIOS AND TO CODIFY, CONSOLIDATE AND RETIRE CERTAIN INTERPRETIVE GUIDANCE.- MSRB AMENDED MSRB RULE G-27 TO ALLOW DEALERS TO CONDUCT REMOTE OFFICE INSPECTIONS OF OFFICES AND LOCATIONS DURING A THREE-YEAR PILOT PROGRAM AND TO ALLOW FINRA-MEMBER DEALERS TO DESIGNATE AN ASSOCIATED PERSON'S PRIVATE RESIDENCE WHERE SUPERVISORY ACTIVITIES ARE CONDUCTED AS A RESIDENTIAL SUPERVISORY LOCATION, ALIGNING WITH AMENDMENTS BY THE FINANCIAL INDUSTRY REGULATORY AUTHORITY (FINRA). | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MARKET TRANSPARENCY: MSRB COLLECTS MUNICIPAL MARKET DATA AND DISCLOSURE DOCUMENTS FROM REGULATED ENTITIES, MUNICIPAL ENTITIES, OBLIGATED PERSONS AND/OR THEIR AGENTS. MSRB PROMOTES MARKET TRANSPARENCY AND EFFICIENCY BY MAKING THIS INFORMATION AVAILABLE TO THE PUBLIC, FREE OF CHARGE, ON ITS ELECTRONIC MUNICIPAL MARKET ACCESS (EMMA) WEBSITE AT EMMA.MSRB.ORG. (CONTINUED ON SCHEDULE O)IN 2024, MSRB MADE SEVERAL ENHANCEMENTS TO ITS EMMA WEBSITE, INCLUDING THE ADDITION OF A NEW AAA-RATED MUNICIPAL YIELD CURVE, WHICH IS UPDATED HOURLY. MSRB ALSO IMPROVED THE TRANSPARENCY OF DISCLOSURE INFORMATION AVAILABLE TO MARKET PARTICIPANTS BY CLARIFYING WHETHER THE ISSUER OR THE OBLIGATED PERSON ASSOCIATED WITH A MUNICIPAL BOND ISSUE HAS AGREED TO PROVIDE DISCLOSURE INFORMATION AS REQUIRED BY SEC RULE 15C2-12. IN 2025, MSRB EXPECTS TO LAUNCH A MODERNIZED EMMA FEATURING A REDESIGNED USER INTERFACE AND USER EXPERIENCE, ONE THAT WILL ALLOW A MORE PERSONALIZED EXPERIENCE, IMPROVED NAVIGATION AND ENHANCED SEARCH FEATURES AND FUNCTIONALITY. THIS HAS BEEN A MULTI-YEAR ENDEAVOR, WHICH HAS BENEFITED FROM EXTENSIVE INPUT FROM A WIDE VARIETY OF MARKET PARTICIPANTS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MARKET INTEGRITY: MSRB REGULARLY ANALYZES THE DATA IT COLLECTS TO IDENTIFY TRENDS AND INFORM REGULATORY DECISION MAKING, AND PUBLISHES RESEARCH TO ASSIST POLICYMAKERS, MARKET PARTICIPANTS AND THE PUBLIC IN UNDERSTANDING THE MUNICIPAL SECURITIES MARKET. (CONTINUED ON SCHEDULE O)RESEARCH REPORTS PUBLISHED OVER THE PAST YEAR COVERED A VARIETY OF TOPICS INCLUDING:- AN ANALYSIS OF PRIMARY VS. RECENTLY ISSUED AND COMPETITIVE VS. NEGOTIATED MUNICIPAL SECURITIES MARKETS- AN ANALYSIS OF THE TIMING OF ANNUAL FINANCIAL DISCLOSURES BY ISSUERS OF MUNICIPAL SECURITIES- A REVIEW OF RECENT DEVELOPMENTS IN PRE-TRADE MARKET ACTIVITY IN MUNICIPAL SECURITIES- A REVIEW OF TRADING PATTERNS IN THE MUNICIPAL SECURITIES MARKET- QUARTERLY AND ANNUAL SUMMARIES OF DEVELOPMENTS IN THE MUNICIPAL SECURITIES MARKETIN ADDITION, CONSISTENT WITH ITS MANDATE TO PROTECT INVESTORS, ISSUERS AND THE PUBLIC INTEREST, MSRB PROVIDES OBJECTIVE MUNICIPAL MARKET EDUCATION, OFFERING FREE EDUCATIONAL RESOURCES TO HELP INVESTORS, ISSUERS AND OTHER MARKET PARTICIPANTS MAKE INFORMED DECISIONS. CONTINUING ITS EFFORT TO IMPROVE THE ACCESSIBILITY OF INFORMATION IN ITS ONLINE EDUCATION CENTER, MSRB PUBLISHED A SERIES OF NEW WEB PAGES TO STREAMLINE ITS EXISTING CONTENT, MAKING IT EASIER FOR MARKET PARTICIPANTS TO ACCESS AND UNDERSTAND. MSRB ALSO REVISED ITS PROFESSIONAL QUALIFICATIONS WEB PAGES, PROVIDING MORE DETAILED INFORMATION AND BREAKING UP THE CONTENT TO MAKE IT EASIER FOR DEALERS AND MUNICIPAL ADVISORS TO FIND RELEVANT INFORMATION ABOUT QUALIFICATIONS, EXAMS AND CONTINUING EDUCATION. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | FINANCIAL STEWARDSHIP: AS A SELF REGULATORY ORGANIZATION, MSRB RELIES ON FEES PAID BY REGULATED ENTITIES TO FUND ITS OPERATIONS AS OPPOSED TO APPROPRIATIONS FROM THE FEDERAL GOVERNMENT. MSRB IS COMMITTED TO PRUDENT STEWARDSHIP OF THE RESOURCES IT RECEIVES FROM REGULATED ENTITIES.MSRB RECOGNIZES AND UPHOLDS ITS COMMITMENT TO MAINTAINING REASONABLE FEES THAT ARE NECESSARY OR APPROPRIATE TO ADVANCE ITS CONGRESSIONAL MANDATE. TO THIS END, MSRB ISSUED A REQUEST FOR INFORMATION IN FY 2024 SOLICITING STAKEHOLDER FEEDBACK TO INFORM POTENTIAL MODIFICATIONS TO ITS FEE-SETTING PROCESS AND RATE CARD MODEL. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (1) | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 64 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 148 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 15 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 15 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | DC | StatesWhereCopyOfReturnIsFldCd |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BONNIE MOYNIHAN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2028381500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1300 I STREET NW SUITE 1000 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (44 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| MEREDITH L HATHORN | ||||||||||
| DIRECTOR, BOARD CHAIR | 8.00 | 0.00 | Yes (X) | Yes (X) | $105,000 | $0 | $0 | |||
| ANGELIA SCHMIDT | ||||||||||
| DIR, BOARD VICE CHAIR(AS OF 10/2023) | 6.00 | 0.00 | Yes (X) | Yes (X) | $76,250 | $0 | $0 | |||
| JENNIE HUANG BENNETT | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $75,000 | $0 | $0 | ||||
| THALIA MEEHAN | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $72,500 | $0 | $0 | ||||
| WARREN DANIELS | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $67,500 | $0 | $0 | ||||
| KATANO KASAINE | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $67,500 | $0 | $0 | ||||
| HORATIO L PORTER | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $67,500 | $0 | $0 | ||||
| DAVID F BELTON | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $65,000 | $0 | $0 | ||||
| NATASHA A HOLIDAY | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $65,000 | $0 | $0 | ||||
| ELIZABETH SWEENEY | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $65,000 | $0 | $0 | ||||
| ALEXANDER CHILTON | ||||||||||
| DIRECTOR (AS OF 10/2023) | 6.00 | 0.00 | Yes (X) | $16,250 | $0 | $0 | ||||
| MICHAEL CRAFT | ||||||||||
| DIRECTOR (AS OF 10/2023) | 6.00 | 0.00 | Yes (X) | $16,250 | $0 | $0 | ||||
| PAMELA FREDERICK | ||||||||||
| DIRECTOR (AS OF 10/2023) | 6.00 | 0.00 | Yes (X) | $16,250 | $0 | $0 | ||||
| WENDELL GAERTNER | ||||||||||
| DIRECTOR (AS OF 10/2023) | 6.00 | 0.00 | Yes (X) | $16,250 | $0 | $0 | ||||
| CHRIS KENDALL | ||||||||||
| DIRECTOR (AS OF 10/2023) | 6.00 | 0.00 | Yes (X) | $16,250 | $0 | $0 | ||||
| MARK T KIM | ||||||||||
| PRESIDENT AND CEO | 40.00 | 0.00 | Yes (X) | $721,384 | $0 | $61,597 | ||||
| OMER AHMED | ||||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | 0.00 | Yes (X) | $304,894 | $0 | $61,644 | ||||
| RONALD SMITH | ||||||||||
| CORPORATE SECRETARY | 40.00 | 0.00 | Yes (X) | $270,971 | $0 | $36,562 | ||||
| JOHN A BAGLEY | ||||||||||
| CHIEF MARKET STRUCTURE OFFICER | 40.00 | 0.00 | $513,519 | $0 | $67,954 | Yes (X) | ||||
| JACOB LESSER | ||||||||||
| GENERAL COUNSEL | 40.00 | 0.00 | $467,611 | $0 | $25,606 | Yes (X) | ||||
| BRIAN ANTHONY | ||||||||||
| CHIEF PRODUCT OFFICER | 40.00 | 0.00 | $396,117 | $0 | $57,068 | Yes (X) | ||||
| JOHN TOYE | ||||||||||
| CHIEF INFORMATON OFFICER | 40.00 | 0.00 | $355,359 | $0 | $62,416 | Yes (X) | ||||
| TANGIE DAVIS | ||||||||||
| CHIEF OF STAFF (AS OF 08/2024) | 40.00 | 0.00 | $323,363 | $0 | $45,318 | Yes (X) | ||||
| SALIHA OLGUN | ||||||||||
| INTERIM CHIEF REG OFF.(THRU 10/2023) | 40.00 | 0.00 | $304,677 | $0 | $60,919 | Yes (X) | ||||
| JILL FURICK | ||||||||||
| CHIEF PEOPLE OFFICER (THRU 12/2023) | 40.00 | 0.00 | $320,283 | $0 | $39,119 | Yes (X) | ||||
| LEAH SZAREK | ||||||||||
| CHIEF OF EXT. RELAT.(THRU 12/2023) | 40.00 | 0.00 | $316,006 | $0 | $30,097 | Yes (X) | ||||
| IJEOMA LASEBIKAN | ||||||||||
| DIRECTOR, HUMAN RESOURCES | 40.00 | 0.00 | $161,371 | $0 | $46,493 | Yes (X) | ||||
| ERNESTO LANZA | ||||||||||
| CHIEF REGULATORY & POLICY OFFICER | 40.00 | 0.00 | $170,553 | $0 | $19,696 | Yes (X) | ||||
| SIMON WU | ||||||||||
| CHIEF ECONOMIST | 40.00 | 0.00 | $324,903 | $0 | $40,791 | Yes (X) | ||||
| SALLY KLEMPERER | ||||||||||
| SENIOR ASSOCIATE GENERAL COUNSEL | 40.00 | 0.00 | $314,053 | $0 | $45,436 | Yes (X) | ||||
| MARCELO VIEIRA | ||||||||||
| SENIOR DIR, RESEARCH & MRKT TRANSP. | 40.00 | 0.00 | $290,647 | $0 | $30,439 | Yes (X) | ||||
| BONNIE MOYNIHAN | ||||||||||
| CONTROLLER | 40.00 | 0.00 | $258,772 | $0 | $29,146 | Yes (X) | ||||
| SHAMBREIA JOINER | ||||||||||
| SR. DIRECTOR, REGULATORY COMPL. | 40.00 | 0.00 | $262,093 | $0 | $39,158 | Yes (X) | ||||
| CAROL KOSTIK | ||||||||||
| FORMER DIRECTOR, BOARD VICE CHAIR | 0.00 | 0.00 | $67,500 | $0 | $0 | Yes (X) | ||||
| FRANCIS E FAIRMAN IV | ||||||||||
| FORMER DIRECTOR | 0.00 | 0.00 | $48,750 | $0 | $0 | Yes (X) | ||||
| DANIEL KILEY | ||||||||||
| FORMER DIRECTOR | 0.00 | 0.00 | $48,750 | $0 | $0 | Yes (X) | ||||
| DONNA M SIMONETTI | ||||||||||
| FORMER DIRECTOR | 0.00 | 0.00 | $48,750 | $0 | $0 | Yes (X) | ||||
| JILL JAWORSKI | ||||||||||
| FORMER DIRECTOR | 0.00 | 0.00 | $27,291 | $0 | $0 | Yes (X) | ||||
| JERRY W FORD | ||||||||||
| FORMER DIRECTOR | 0.00 | 0.00 | $19,277 | $0 | $0 | Yes (X) | ||||
| SARA MAJROH | ||||||||||
| FMR. OFF./SR. MGR., CORP. GOVERNANCE | 40.00 | 0.00 | $192,198 | $0 | $28,166 | Yes (X) | ||||
| JESSICA FAUCETTE | ||||||||||
| FMR. OFF/SR. GOVT. & PUBLIC AFF. | 40.00 | 0.00 | $108,120 | $0 | $19,998 | Yes (X) | ||||
| NANETTE LAWSON | ||||||||||
| FORMER CHIEF OPERATING OFFICER | 0.00 | 0.00 | $321,119 | $0 | $47,605 | Yes (X) | ||||
| EMMETT CUSSON | ||||||||||
| FORMER CHIEF TECHNOLOGY OFFICER | 0.00 | 0.00 | $153,586 | $0 | $9,641 | Yes (X) | ||||
| GAIL MARSHALL | ||||||||||
| FORMER CHIEF REGULATORY OFFICER | 0.00 | 0.00 | $122,083 | $0 | $15,448 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $8,041,500 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $920,317 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 101 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| AMAZON WEB SERVICES INC | |||||
| 410 TERRY AVENUE NORTH | SEATTLE | WA | 98109 | CLOUD SERVICE PROVIDER | $4,667,123 |
| HITACHI DIGITAL SERVICES LLC | |||||
| 2535 AUGUSTINE DRIVE | SANTA CLARA | CA | 95054 | SOFTWARE DEVELOPMENT | $2,192,846 |
| CC PACE SYSTEMS INC | |||||
| 4100 MONUMENT CORNER DRIVE SUITE 4 | FAIRFAX | VA | 22030 | SOFTWARE DEVLOPMENT | $1,613,329 |
| ACCENTURE FEDERAL SERVICES | |||||
| 800 CONNECTICUT AVE NW SUITE 600 | WASHINGTON | DC | 20006 | SOFTWARE DEVELOPMENT | $1,429,763 |
| ARSHIL LLC | |||||
| 41940 PADDOCK GATE PL | ASHBURN | VA | 20148 | SOFTWARE DEVELOPMENT | $432,099 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 16 | CntrctRcvdGreaterThan100KCnt |
| Membership Dues | $51,015,785 | MembershipDuesAmt |
| Total Contributions | $51,015,785 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| DATA SUBSCRIPTIONS | 900099 | $2,623,706 | $2,623,706 |
| RULE VIOLATION FNE REV | 900099 | $920,264 | $920,264 |
| PRO. QUAL. EXAM FEES | 900099 | $287,805 | $287,805 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,831,775 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,206,838 | TotalRevenueColumnAmt |
| Exclusion | $1,206,838 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $29,005 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $39,975 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $29,005 | SecuritiesAmt |
| Other | -$39,975 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$10,970 | TotalRevenueColumnAmt |
| Exclusion | -$10,970 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $7,007 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $7,007 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $7,007 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $56,050,435 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,838,782 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,195,868 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,465,416 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,415,166 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,207,641 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,347,588 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,469,353 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,472 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $387,451 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,000 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,120,151 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $461,045 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,235,561 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,450,112 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $395,036 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $249,475 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $200 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,532,847 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $363,902 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DATA & INFORMATION SVCS | $1,247,544 |
| PROPERTY & OTHER TAXES | $307,691 |
| DUES, REGIS., TRAIN. | $167,222 |
| SUBSCRIPTION & PUBLI. | $146,411 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $97,974 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,151,258 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $893,788 | BOYAmt |
| EOY | $1,107,904 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,051,538 | BOYAmt |
| EOY | $10,428,429 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,946,227 | BOYAmt |
| EOY | $8,656,105 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,063,241 | BOYAmt |
| EOY | $2,276,125 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $62,679,197 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $44,464,216 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,133,695 | BOYAmt |
| EOY | $18,214,981 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,025,252 | BOYAmt |
| EOY | $36,907,646 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,108,454 | BOYAmt |
| EOY | $6,473,953 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $76,222,195 | BOYAmt |
| EOY | $84,065,143 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,224,606 | BOYAmt |
| EOY | $5,907,638 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $359,508 | BOYAmt |
| EOY | $336,070 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,931,680 | BOYAmt |
| EOY | $10,811,822 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,515,794 | BOYAmt |
| EOY | $17,055,530 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,706,401 | BOYAmt |
| EOY | $67,009,613 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $58,706,401 | BOYAmt |
| EOY | $67,009,613 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $76,222,195 | BOYAmt |
| EOY | $84,065,143 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $6,899,177 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,404,035 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
Total Grassroots Lobbying TotalGrassrootsLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Affiliated Group Total | $0 | AffiliatedGroupTotalAmt |
Total Direct Lobbying TotalDirectLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Affiliated Group Total | $0 | AffiliatedGroupTotalAmt |
Other Exempt Purpose Expend OtherExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Affiliated Group Total | $0 | AffiliatedGroupTotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nonded | 0 | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | 0 | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | 0 | AgreeCarryoverPriorYearInd |
| Dues Assessments | $51,015,785 | DuesAssessmentsAmt |
| Non Deductible Lbbyng Pltcl CY | $60,000 | NonDeductibleLbbyngPltclCYAmt |
| Non Deductible Lbbyng Pltcl Tot | $60,000 | NonDeductibleLbbyngPltclTotAmt |
| Taxable | $60,000 | TaxableAmt |
Schedule D IRS990ScheduleD
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | $0 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,443,677 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,567,958 | DepreciationAmt |
| Book Value | $1,875,719 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,483,904 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,293,404 | DepreciationAmt |
| Book Value | $190,500 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $56,751,616 | OtherCostOrOtherBasisAmt |
| Depreciation | $40,602,854 | DepreciationAmt |
| Book Value | $16,148,762 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $18,214,981 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OPERATING LEASE ROU ASSET | Desc |
| Book Value | $6,473,953 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $6,473,953 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| CAPITAL LEASE LIABILITY | $1,187 |
| OPERATING LEASE LIABILITY | $10,810,635 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $10,811,822 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $57,478,557 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $1,404,035 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $1,404,035 | RevenueNotReportedAmt |
| Revenue Subtotal | $56,074,522 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $15,888 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | -$39,975 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$24,087 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $56,050,435 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $49,175,345 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $39,975 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $39,975 | ExpensesNotReportedAmt |
| Expenses Subtotal | $49,135,370 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $15,888 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $15,888 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $49,151,258 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | FIN 48 (ASC 740) THE MSRB ADDRESSES UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH ASC TOPIC 740, INCOME TAXES, WHICH PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, PRESENTED AND DISCLOSED IN FINANCIAL STATEMENTS. DURING THE YEARS FROM 2021 TO 2024, WHICH REPRESENT THE YEARS MANAGEMENT CONSIDERS TO BE OPEN FOR EXAMINATION BY TAXING AUTHORITIES, MANAGEMENT DID NOT IDENTIFY THE EXISTENCE OF ANY UNCERTAIN TAX POSITION. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | LOSS FROM SALE OF ASSETS -39,975. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | LOSS FROM SALE OF ASSETS 39,975. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (29 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MARK T KIM | ||||||||||||||
| PRESIDENT AND CEO | $627,384 | $0 | $94,000 | $0 | $0 | $0 | $26,400 | $0 | $35,197 | $0 | $782,981 | $0 | $0 | $0 |
| JOHN A BAGLEY | ||||||||||||||
| CHIEF MARKET STRUCTURE OFFICER | $446,019 | $0 | $67,500 | $0 | $0 | $0 | $29,700 | $0 | $38,254 | $0 | $581,473 | $0 | $0 | $0 |
| JACOB LESSER | ||||||||||||||
| GENERAL COUNSEL | $407,611 | $0 | $60,000 | $0 | $0 | $0 | $22,696 | $0 | $2,910 | $0 | $493,217 | $0 | $0 | $0 |
| BRIAN ANTHONY | ||||||||||||||
| CHIEF PRODUCT OFFICER | $346,117 | $0 | $50,000 | $0 | $0 | $0 | $23,504 | $0 | $33,564 | $0 | $453,185 | $0 | $0 | $0 |
| JOHN TOYE | ||||||||||||||
| CHIEF INFORMATON OFFICER | $304,659 | $0 | $50,700 | $0 | $0 | $0 | $31,152 | $0 | $31,264 | $0 | $417,775 | $0 | $0 | $0 |
| NANETTE LAWSON | ||||||||||||||
| FORMER CHIEF OPERATING OFFICER | $321,119 | $0 | $0 | $0 | $0 | $0 | $21,375 | $0 | $26,230 | $0 | $368,724 | $0 | $0 | $0 |
| TANGIE DAVIS | ||||||||||||||
| CHIEF OF STAFF (AS OF 08/2024) | $293,828 | $0 | $29,300 | $0 | $235 | $0 | $29,125 | $0 | $16,193 | $0 | $368,681 | $0 | $0 | $0 |
| OMER AHMED | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $270,494 | $0 | $34,400 | $0 | $0 | $0 | $26,957 | $0 | $34,687 | $0 | $366,538 | $0 | $0 | $0 |
| SIMON WU | ||||||||||||||
| CHIEF ECONOMIST | $295,028 | $0 | $29,500 | $0 | $375 | $0 | $25,588 | $0 | $15,203 | $0 | $365,694 | $0 | $0 | $0 |
| SALIHA OLGUN | ||||||||||||||
| INTERIM CHIEF REG OFF.(THRU 10/2023) | $255,877 | $0 | $48,800 | $0 | $0 | $0 | $32,175 | $0 | $28,744 | $0 | $365,596 | $0 | $0 | $0 |
| SALLY KLEMPERER | ||||||||||||||
| SENIOR ASSOCIATE GENERAL COUNSEL | $285,853 | $0 | $28,100 | $0 | $100 | $0 | $27,625 | $0 | $17,811 | $0 | $359,489 | $0 | $0 | $0 |
| JILL FURICK | ||||||||||||||
| CHIEF PEOPLE OFFICER (THRU 12/2023) | $285,183 | $0 | $35,100 | $0 | $0 | $0 | $26,230 | $0 | $12,889 | $0 | $359,402 | $0 | $0 | $0 |
| LEAH SZAREK | ||||||||||||||
| CHIEF OF EXT. RELAT.(THRU 12/2023) | $287,006 | $0 | $29,000 | $0 | $0 | $0 | $27,464 | $0 | $2,633 | $0 | $346,103 | $0 | $0 | $0 |
| MARCELO VIEIRA | ||||||||||||||
| SENIOR DIR, RESEARCH & MRKT TRANSP. | $264,547 | $0 | $26,100 | $0 | $0 | $0 | $25,564 | $0 | $4,875 | $0 | $321,086 | $0 | $0 | $0 |
| RONALD SMITH | ||||||||||||||
| CORPORATE SECRETARY | $241,969 | $0 | $29,000 | $0 | $2 | $0 | $23,652 | $0 | $12,910 | $0 | $307,533 | $0 | $0 | $0 |
| SHAMBREIA JOINER | ||||||||||||||
| SR. DIRECTOR, REGULATORY COMPL. | $238,193 | $0 | $23,900 | $0 | $0 | $0 | $23,454 | $0 | $15,704 | $0 | $301,251 | $0 | $0 | $0 |
| BONNIE MOYNIHAN | ||||||||||||||
| CONTROLLER | $235,347 | $0 | $23,300 | $0 | $125 | $0 | $22,879 | $0 | $6,267 | $0 | $287,918 | $0 | $0 | $0 |
| SARA MAJROH | ||||||||||||||
| FMR. OFF./SR. MGR., CORP. GOVERNANCE | $180,348 | $0 | $11,600 | $0 | $250 | $0 | $17,504 | $0 | $10,662 | $0 | $220,364 | $0 | $0 | $0 |
| IJEOMA LASEBIKAN | ||||||||||||||
| DIRECTOR, HUMAN RESOURCES | $135,411 | $0 | $25,700 | $0 | $260 | $0 | $12,295 | $0 | $34,198 | $0 | $207,864 | $0 | $0 | $0 |
| ERNESTO LANZA | ||||||||||||||
| CHIEF REGULATORY & POLICY OFFICER | $145,553 | $0 | $25,000 | $0 | $0 | $0 | $6,715 | $0 | $12,981 | $0 | $190,249 | $0 | $0 | $0 |
| EMMETT CUSSON | ||||||||||||||
| FORMER CHIEF TECHNOLOGY OFFICER | $153,586 | $0 | $0 | $0 | $0 | $0 | $7,915 | $0 | $1,726 | $0 | $163,227 | $0 | $0 | $0 |
| GAIL MARSHALL | ||||||||||||||
| FORMER CHIEF REGULATORY OFFICER | $122,083 | $0 | $0 | $0 | $0 | $0 | $7,269 | $0 | $8,179 | $0 | $137,531 | $0 | $0 | $0 |
| JESSICA FAUCETTE | ||||||||||||||
| FMR. OFF/SR. GOVT. & PUBLIC AFF. | $102,440 | $0 | $5,600 | $0 | $80 | $0 | $9,384 | $0 | $10,614 | $0 | $128,118 | $0 | $0 | $0 |
| CAROL KOSTIK | ||||||||||||||
| FORMER DIRECTOR, BOARD VICE CHAIR | $67,500 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $67,500 | $0 | $0 | $0 |
| FRANCIS E FAIRMAN IV | ||||||||||||||
| FORMER DIRECTOR | $48,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $48,750 | $0 | $0 | $0 |
| DANIEL KILEY | ||||||||||||||
| FORMER DIRECTOR | $48,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $48,750 | $0 | $0 | $0 |
| DONNA M SIMONETTI | ||||||||||||||
| FORMER DIRECTOR | $48,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $48,750 | $0 | $0 | $0 |
| JILL JAWORSKI | ||||||||||||||
| FORMER DIRECTOR | $27,291 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $27,291 | $0 | $0 | $0 |
| JERRY W FORD | ||||||||||||||
| FORMER DIRECTOR | $19,277 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $19,277 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | ADDITIONAL BENEFITS PROVIDED: THE MSRB REIMBURSES BOARD MEMBERS, THE CHIEF EXECUTIVE OFFICER, AND ALL OTHER EMPLOYEES FOR THE COST OF COACH CLASS AIR TRAVEL FOR FLIGHTS OF 3 HOURS OR LESS IN TOTAL ONE-WAY TRIP DURATION. FOR AIR TRAVEL MORE THAN 3 HOURS IN TOTAL ONE-WAY TRIP DURATION, THE MSRB REIMBURSES BOARD MEMBERS FOR THE USE OF BUSINESS CLASS WHEN AVAILABLE, OR IF ONLY TWO CLASSES OF SERVICE ARE OFFERED, FIRST CLASS. THE MSRB HAS DETERMINED THIS MEETS THE BUSINESS REQUIREMENT STANDARD FOR NOT TREATING THE BENEFIT AS COMPENSATORY ON THE FORM W-2 OR 1099. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 1 | THE MSRB PROTECTS INVESTORS, MUNICIPAL ENTITIES, OBLIGATED PERSONS, AND THE PUBLIC INTEREST BY PROMOTING A FAIR AND EFFICIENT MUNICIPAL SECURITIES MARKET. |
| FORM 990, PART III, LINE 1 | MSRB'S MISSION IS TO PROTECT AND STRENGTHEN THE MUNICIPAL BOND MARKET, ENABLING ACCESS TO CAPITAL, ECONOMIC GROWTH, AND SOCIETAL PROGRESS IN TENS OF THOUSANDS OF COMMUNITIES ACROSS THE COUNTRY. -WE CREATE TRUST IN OUR MARKET THROUGH INFORMED REGULATION OF DEALERS AND MUNICIPAL ADVISORS THAT PROTECTS INVESTORS, ISSUERS AND THE PUBLIC INTEREST. -WE BUILD TECHNOLOGY SYSTEMS THAT POWER OUR MARKET AND PROVIDE TRANSPARENCY FOR THE INVESTING PUBLIC AND OTHER MARKET PARTICIPANTS. -WE SERVE AS THE OFFICIAL SOURCE OF MARKET DATA THAT EMPOWERS BETTER DECISION MAKING AND FUELS INNOVATION FOR THE FUTURE. |
| FORM 990, PART VI, SECTION A, LINE 7B | DECISIONS REQUIRING APPROVAL BY MEMBERS OR STOCKHOLDERS: ALL PROPOSED RULE CHANGES ADOPTED BY THE BOARD OF DIRECTORS OF THE MSRB MUST BE APPROVED BY THE SECURITIES AND EXCHANGE COMMISSION PRIOR TO EFFECTIVENESS, UNLESS OTHERWISE ALLOWED BY LAW. |
| FORM 990, PART VI, SECTION B, LINE 11B | REVIEW OF FORM 990 PROCESS: THE BOARD OF DIRECTORS OF THE MSRB HAS AN AUDIT AND RISK COMMITTEE THAT IS CHARGED WITH REVIEWING WITH MANAGEMENT THE ORGANIZATION'S COMPLETED FORM ANNUALLY PRIOR TO THE FILING OF SUCH FORM AND REPORTING ANY FINDINGS OR CONCLUSIONS TO THE BOARD OF DIRECTORS IN CONNECTION WITH THE COMMITTEE'S REVIEW OF SUCH FORM. THE AUDIT AND RISK COMMITTEE CONDUCTED ITS REVIEW ON 01/27/2025 AND THE BOARD OF DIRECTORS CONDUCTED ITS REVIEW ON 01/29/2025. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE MSRB MAINTAINS CONFLICTS OF INTEREST, CODE OF CONDUCT, AND WHISTLEBLOWER POLICIES FOR ITS BOARD AND STAFF. ALL BOARD MEMBERS AND STAFF ARE TRAINED ANNUALLY ON THESE POLICIES AND MUST SIGN VARIOUS ACKNOWLEDGMENTS. THE MSRB REQUIRES OFFICERS, DIRECTORS AND KEY EMPLOYEES TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS, AND SUBSEQUENTLY DISCLOSE UPDATES. IN CONNECTION WITH THE ELECTION OF NEW MEMBERS OF THE BOARD OF DIRECTORS, EACH CANDIDATE PROVIDES INFORMATION TO THE MSRB CONCERNING POTENTIAL CONFLICTS OF INTEREST. IN ADDITION, CERTAIN ORGANIZATIONAL CONFLICTS ARE EFFECTIVELY PROHIBITED UNDER SECTION 15B(B) OF THE SECURITIES EXCHANGE ACT OF 1934 DUE TO THE STATUTORY REQUIREMENTS REGARDING QUALIFICATION FOR MEMBERSHIP ON THE BOARD OF DIRECTORS. IN PARTICULAR, PUBLIC REPRESENTATIVES MUST BE INDEPENDENT OF ANY MUNICIPAL SECURITIES BROKER, MUNICIPAL SECURITIES DEALER OR MUNICIPAL ADVISOR. MSRB RULE A-3 DEFINES "INDEPENDENT" AS HAVING NO MATERIAL BUSINESS RELATIONSHIP WITH ANY MUNICIPAL SECURITIES BROKER, MUNICIPAL SECURITIES DEALER OR MUNICIPAL ADVISOR, INCLUDING AT A MINIMUM NOT CURRENTLY OR AT ANY TIME WITHIN THE LAST FIVE YEARS BEING ASSOCIATED WITH A MUNICIPAL SECURITIES BROKER, MUNICIPAL SECURITIES DEALER OR MUNICIPAL ADVISOR AND NOT HAVING A RELATIONSHIP WITH ANY MUNICIPAL SECURITIES BROKER, MUNICIPAL SECURITIES DEALER OR MUNICIPAL ADVISOR, WHETHER COMPENSATORY OR OTHERWISE, THAT REASONABLY COULD AFFECT THE INDEPENDENT JUDGMENT OR DECISION MAKING OF THE INDIVIDUAL. THE MSRB'S GENERAL COUNSEL REVIEWS THE DIRECTOR'S CONFLICTS OF INTEREST ACKNOWLEDGEMENT AND DISCLOSURE FORMS AND DETERMINES WHAT ACTIONS, IF ANY, NEED TO BE TAKEN, INCLUDING ASKING A BOARD MEMBER TO RECUSE HIM OR HERSELF FROM DELIBERATIONS OR VOTING ON AN ACTION. |
| FORM 990, PART VI, SECTION B, LINE 15A | PROCESS OF DETERMING COMPENSATION: UNDER THE MSRB WRITTEN COMPENSATION STRATEGY AND PROGRAM, THE FINANCE COMMITTEE (COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS) IS RESPONSIBLE FOR MAKING RECOMMENDATIONS AND THE BOARD OF DIRECTORS IS RESPONSIBLE FOR APPROVING THE ORGANIZATION-WIDE COMPENSATION STRATEGY. THE ANNUAL SALARY BUDGET IS APPROVED BY THE BOARD OF DIRECTORS. AT LEAST ONCE EVERY FOUR YEARS, THE COMPENSATION STRATEGY AND STRUCTURE ARE REVIEWED AND APPROVED BY THE FINANCE COMMITTEE BASED ON INFORMATION RECEIVED FROM AN EXTERNAL SALARY CONSULTANT. SUCH REVIEW WAS COMPLETED AND CHANGES WERE APPROVED BY THE BOARD EFFECTIVE 07/24/2024. THE EXTERNAL SALARY CONSULTANT COMPARES THE MSRB WITH COMPARABLE PEER ORGANIZATIONS IN THE LOCAL GEOGRAPHIC MARKET AND WITHIN THE INDUSTRY AS APPROPRIATE. THE FULL BOARD APPROVES THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER, AND THE CHIEF EXECUTIVE OFFICER ESTABLISHES THE COMPENSATION OF THE KEY EMPLOYEES WITHIN THE PARAMETERS AND PHILOSOPHY OF THE APPROVED COMPENSATION STRATEGY. ADDITIONALLY, THE CHIEF EXECUTIVE OFFICER ANNUALLY PROVIDES TO THE BOARD THE SALARY, BENEFITS, AND TOTAL COMPENSATION OF THE SENIOR MANAGEMENT. |
| FORM 990, PART VI, SECTION C, LINE 19 | DOCUMENTS AVAILABLE TO THE PUBLIC: THE ORGANIZATION'S WEBSITE (WWW.MSRB.ORG) CONTAINS THE FOLLOWING: SECURITIES EXCHANGE ACT OF 1934 SECTION 15B (STATUTE CREATING THE MSRB), ARTICLES OF INCORPORATION, BY-LAWS, GOVERNANCE-RELATED ADMINISTRATIVE RULES, BOARD COMMITTEE CHARTERS, CODE OF ETHICS AND BUSINESS CONDUCT, CONFLICTS OF INTEREST POLICY, RISK MANAGEMENT PROGRAM, WHISTLEBLOWER POLICY, AUDITED FINANCIAL STATEMENTS, ANNUAL BUDGET, MOST RECENT IRS FORM 990 AND CERTAIN FINANCIAL POLICIES. |