2016-08-17T09:42:39-05:00 2015-10-31 GRANT THORNTON LLP 757 THIRD AVE 4TH FLOOR NEW YORK NY 100172013 990 2014-11-01 320178959 Securities Industry and Financial Markets Association % NAM KIM SECU 2123131371 120 BROADWAY 35th Floor NEW YORK NY 10271 Sophie Usasz Managing Director, Finance 2125990100 2017-08-16 true Qi Wen Liang P01270238 2125990100 2014 2016-09-27 15:27:22Z KENNETH E BENTSEN C/O SIFMA 120 Broadway New York NY 10271 65352395 false X www.sifma.org X 2006 DE SIFMA IS THE VOICE OF THE U.S. SECURITIES INDUSTRY. We represent broker-dealers, banks and asset managers, whose 1 million employees provide access to the capital markets. (Sch O) 40 39 178 12637 20000 0 0 61677414 62431309 1087059 1510806 1671434 1410280 64435907 65352395 156550 492400 0 0 34186995 35684678 0 0 0 28774684 28367382 63118229 64544460 1317678 807935 69902280 67976235 32903148 29182017 36999132 38794218 X SIFMA is the voice of the U.S. securities industry. We represent the broker-dealers, banks and asset managers whose nearly 1 million employees provide access to the capital markets, raising over $2.5 trillion for businesses and municipalities in the U.S., serving clients with over $20 trillion in assets and managing more than $67 trillion in assets for individual and institutional clients including mutual funds and retirement plans. false false CONTINUED DEVELOPMENT AND MAINTENANCE OF BEST PRACTICES THAT ARE CONDUCIVE TO EFFICIENT CONDUCT OF THE BUSINESS AND MEMBERS OF THE ORGANIZATION: CYBERSECURITY THE PROTECTION OF CLIENT ASSETS AND INFORMATION AND THE ABILITY FOR MARKETS TO FUNCTION THROUGH CYBER ATTACKS IS A TOP INDUSTRY PRIORITY. WITH OUR MEMBERS, SIFMA HAS TAKEN THE LEAD IN DEVELOPING POLICIES AND PROCEDURES FOR CYBER DEFENSE AND RECOVERY, WORKING CLOSELY WITH OUR GOVERNMENT PARTNERS. SIFMA STRONGLY SUPPORTS BIPARTISAN MEASURES THAT PROVIDE INDUSTRY AND GOVERNMENT WITH THE TOOLS NECESSARY TO ENHANCE OUR CYBER DEFENSES. MARKET STRUCTURE THE STRUCTURE OF OUR EQUITY AND FIXED INCOME MARKETS MUST BE CONTINUALLY EVALUATED TO ENSURE REGULATION EVOLVES WITH THE DYNAMIC MARKETPLACE, WHILE AVOIDING ANY UNINTENDED NEGATIVE CONSEQUENCES. SIFMA'S RECOMMENDATIONS PROPOSE TO: REVERSE THE INCREASING COMPLEXITY OF U.S. EQUITY MARKETS AND ORDER TYPES; IMPROVE ACCESS TO AND RESILIENCY OF THE EQUITY MARKET DATA SYSTEM; AND ENHANCE TRANSPARENCY TO ALL INVESTORS ABOUT HOW ORDERS ARE ROUTED AND EXECUTED. FIDUCIARY STANDARD SIFMA HAS LONG SUPPORTED SEC ACTION TO ESTABLISH A UNIFORM FIDUCIARY STANDARD FOR BROKER-DEALERS AND INVESTMENT ADVISERS WHEN PROVIDING PERSONALIZED INVESTMENT ADVICE ABOUT SECURITIES TO RETAIL CUSTOMERS. OUR MEMBERS FEEL STRONGLY THAT THE APPROACH TAKEN BY THE DEPARTMENT OF LABOR TO REVISE ERISA, AS PROPOSED, WILL RESULT IN LESS INVESTOR CHOICE AND GREATER COST, AT THE EXPENSE OF THOSE IT ATTEMPTS TO HELP. AMICUS PROGRAM: THE INDUSTRY'S VOICE IN KEY LITIGATION SIFMA FILES AMICUS BRIEFS IN COURT CASES WHOSE OUTCOME COULD MATERIALLY IMPACT THE FINANCIAL SERVICES INDUSTRY. BRIEFS EDUCATE COURTS ABOUT ESTABLISHED INDUSTRY AND MARKET PRACTICES, AND HIGHLIGHT IMPORTANT POLICY CONCERNS THAT TRANSCEND THE PARTICULAR CASE. THE AMICUS PROGRAM FOCUSES ON CASES WHERE PARTIES SEEK TO EXPAND LEGAL THEORIES, EASE PLEADING STANDARDS, OR TILT PROCEDURAL RULES IN THEIR FAVOR. ITS GOAL IS TO CONTRIBUTE TO POSITIVE CASE OUTCOMES AND LASTING LEGAL PRECEDENTS THAT HELP SIFMA MEMBERS MANAGE LITIGATION RISKS AND COSTS. PROTECTING SENIOR INVESTORS SIFMA HAS BEEN WORKING WITH INDUSTRY MEMBERS, ACADEMICS, AND STATE AND FEDERAL POLICYMAKERS TO ADVANCE POLICIES, PRACTICES, RULES, REGULATIONS AND LAWS WHICH ENHANCE SENIOR INVESTOR PROTECTIONS. ADVOCACY FOR ISSUES OF IMPORTANCE TO ITS MEMBERS: SIFMA BRINGS TOGETHER THE SHARED INTERESTS OF HUNDREDS OF BROKER-DEALERS, BANKS AND ASSET MANAGERS. WE ADVOCATE IN SUPPORT OF EFFECTIVE AND RESILIENT CAPITAL MARKETS. SIFMA, ON BEHALF OF THE FINANCIAL SERVICES INDUSTRY, ENGAGES WITH POLICYMAKERS AND REGULATORS ON A STATE, FEDERAL AND GLOBAL LEVEL THROUGH COMMENT LETTERS, TESTIMONY, STUDIES AND MORE. SIFMA'S GOAL IS TO ENSURE REGULATION IS EFFECTIVE, BALANCED AND CONSISTENT WITH ITS INTENDED PURPOSE, APPROPRIATELY COORDINATED WITH OTHER REGULATORS AND REGULATORY REGIMES, AND AVOIDS CONSTRAINING CAPITAL FORMATION AND CREDIT AVAILABILITY, OR OTHERWISE IMPEDING THE FUNCTIONING OF THE MARKETS AND THE INDIVIDUALS THEY SERVE. SYSTEMIC RISK DESIGNATIONS UNDERSTANDING AND MONITORING SOURCES OF SYSTEMIC RISK IS CENTRAL TO THE SAFETY OF OUR FINANCIAL SYSTEM. HOWEVER, BY VIRTUE OF THEIR ROLE AND THE ACTIVITIES IN WHICH THEY PARTAKE, ASSET MANAGERS DO NOT POSE A SYSTEMIC RISK TO THE SYSTEM AND SHOULD NOT BE CLASSIFIED AS SUCH. SIFMA HAS ENCOURAGED REGULATORS TO FOCUS ON ACTIVITIES, AS EFFECTIVE REGULATION OF SYSTEMIC RISK IS BEST ACHIEVED THROUGH A BROAD ACTIVITIES-BASED APPROACH RATHER THAN THROUGH DISPARATE TREATMENT OF INDIVIDUAL ENTITIES. T+2 SETTLEMENT CYCLE AS PART OF A T+2 INDUSTRY STEERING COMMITTEE (ISC), SIFMA IS WORKING WITH MARKET PARTICIPANTS, UTILITIES, TRADE ASSOCIATIONS AND REGULATORS TO PREPARE THE INDUSTRY FOR A TRANSITION TO T+2. SIFMA AND THE INVESTMENT COMPANY INSTITUTE ARE LEADING THE DEVELOPMENT OF THE SSC PLAN ON BEHALF OF THE INDUSTRY, INCLUDING DETAILED "PLAYBOOKS" TO ASSIST THE INDUSTRY'S TRANSITION TO T+2. MARKET LIQUIDITY CURRENT MARKET EVIDENCE POINTS TO A MEASURABLE REDUCTION IN FINANCIAL MARKET LIQUIDITY, A SUBJECT OF CONCERN FOR ALL MARKET PARTICIPANTS BECAUSE OF THE CRITICAL ROLE LIQUIDITY PLAYS IN EFFECTIVE MARKET FUNCTIONING. SIFMA'S SWAP DEALER AND ASSET MANAGER DERIVATIVES COMMITTEES ROUTINELY CANVASS THE LANDSCAPE OF DERIVATIVES REGULATORY ISSUES AND MARKET STRUCTURE DEVELOPMENTS. THROUGH OUR COMMITTEES, SIFMA HAS SUPPORTED THE DEVELOPMENT OF MORE TRANSPARENT AND SAFER MARKETS FOR OTC DERIVATIVES IN THE U.S. AND ABROAD, INCLUDING ADVOCATING FOR RULES CONSISTENT WITH THE AGREED G20 PRINCIPALS FOR THE REGULATION OF OTC DERIVATIVES. OUR GOAL HAS BEEN MAKING DERIVATIVES MARKETS SAFER AND SOUNDER, WITHOUT OVERLY ONEROUS BURDENS ON MARKET PARTICIPANTS AND WITHOUT IMPAIRING MARKET LIQUIDITY. CONFERENCES AND SEMINARS SIFMA EVENTS FOSTER MEANINGFUL CONVERSATIONS ABOUT CRITICAL ISSUES IMPACTING OUR FINANCIAL MARKETS. BY PROVIDING RELEVANT AND LIVELY FORUMS, WE BRING TOGETHER INDUSTRY PROFESSIONALS WITH THOUGHT LEADERS, REGULATORS AND POLICYMAKERS TO DISCUSS THE MOST PRESSING ISSUES FACING THE CAPITAL MARKETS TODAY. IN 2015, SIFMA DELIVERED MORE THAN 100 PROGRAMS FOR NEARLY 15,000 INDUSTRY PROFESSIONALS. IN ADDITION, COUNTLESS ROUNDTABLES AND WORKSHOPS PROVIDED THOUGHT LEADERSHIP, CRITICAL INDUSTRY AND POLICY ANALYSIS, CONTINUING EDUCATION AND PROFESSIONAL DEVELOPMENT. 2015 SIFMA ANNUAL MEETING SIFMA'S 2015 ANNUAL MEETING, THE CAPITAL MARKETS CONFERENCE, CONVENED LEADERS OF THE FINANCIAL SERVICES INDUSTRY IN OUR NATION'S CAPITAL FOR ONE-ON-ONE CONVERSATIONS, IN-DEPTH DISCUSSIONS AND EXPERT INSIGHTS ON THE STATE OF OUR CAPITAL MARKETS AND HOW THEY CAN DRIVE CAPITAL FORMATION, JOB CREATION AND ECONOMIC GROWTH. SIFMA COMPLIANCE & LEGAL SOCIETY ANNUAL SEMINAR SIFMA HELD ITS 47TH ANNUAL COMPLIANCE & LEGAL SOCIETY ANNUAL SEMINAR IN PHOENIX. THIS PREMIER EVENT FOR FINANCIAL SERVICES COMPLIANCE AND LEGAL PROFESSIONALS FEATURES MORE THAN 65 INFORMATIVE PANELS WHERE ATTENDEES HAVE THE OPPORTUNITY TO ENGAGE WITH LEADING EXPERTS TO DISCUSS THE LATEST REGULATORY DEVELOPMENTS AND INDUSTRY TRENDS. PRIVATE CLIENT CONFERENCE SIFMA HELD ITS 37TH ANNUAL PRIVATE CLIENT CONFERENCE IN CHICAGO. SERVING AS NORTH AMERICA'S LEADING EVENT FOR FINANCIAL PROFESSIONALS WHO SERVICE THE INDIVIDUAL INVESTOR, THE PRIVATE CLIENT CONFERENCE BRINGS TOGETHER THE TOP INDUSTRY LEADERS TO DISCUSS THE TACTICAL WAYS TO ENHANCE CLIENT SERVICE, ADVICE AND TRUST TO HELP INVESTORS ACHIEVE THEIR FINANCIAL GOALS. OPERATIONS CONFERENCE & EXHIBITION 2015 MARKED A NEW ERA IN THE CAPITAL MARKETS WITH A NUMBER OF REFORMS AND INITIATIVES EITHER IN PROGRESS, UNDER REVIEW, OR PENDING APPROVAL OF A NEW RULE. THE TRUSTED RESOURCE FOR BROKER-DEALERS AND ASSET MANAGERS ON THE EVOLUTION OF OPERATIONS AND REGULATION, THE 42ND ANNUAL OPERATIONS CONFERENCE & EXHIBITION PROVIDED VALUABLE INFORMATION ON WHAT TO EXPECT NEXT AND HOW TO PREPARE FOR THE CHANGING OPERATIONAL LANDSCAPE. THE SECURITIES INDUSTRY INSTITUTE THE SECURITIES INDUSTRY INSTITUTE (SII) IS AN EXECUTIVE EDUCATION PROGRAM UNIQUELY TAILORED TO FINANCIAL SERVICES PROFESSIONALS, DELIVERED THROUGH SIFMA'S PARTNERSHIP WITH WHARTON. HELD ON THE WHARTON CAMPUS, PARTICIPANTS MEET FOR ONE WEEK EACH MARCH TO COMPLETE REQUIRED COURSEWORK OVER THREE CONSECUTIVE YEARS. HIGH-PERFORMANCE TALENT IS NURTURED WITH FORWARD THINKING, RELEVANT CURRICULUM THAT DELIVERS LONG-TERM IMPACT; THE HIGHEST STANDARDS OF INTEGRITY, ETHICS AND PROFESSIONAL EXCELLENCE; AND TREMENDOUS NETWORKING OPPORTUNITIES. GRADUATES OF SII HAVE ADVANCED TOINCREASINGLY HIGHER LEVELS OF MANAGEMENT AND LEADERSHIP WITHIN THEIR FIRMS AND THE INDUSTRY. false false false true false false false true false true false false false true true true false false false false false false false false false false true false true false false false false false false false false false false false true false false true 168 0 true 178 true true true false false false false false X 40 39 false false false false true true false true true false false true true true true true true true true false X NAM KIM 2123131371 120 BROADWAY 35TH FLOOR NEW YORK NY 10271 WILLIAM A JOHNSTONE CHAIRMAN OF THE BOARD 2.0 0.0 X X 0 0 0 JOHN FW ROGERS CHAIR-ELECT 2.0 0.0 X X 0 0 0 TIMOTHY C SCHEVE VICE CHAIR 2.0 0.0 X X 0 0 0 GERALD MCGRAW TREASURER 2.0 0.0 X X 0 0 0 JAMES ALLEN DIRECTOR 1.0 0.0 X 0 0 0 DAN ARNOLD DIRECTOR 1.0 0.0 X 0 0 0 FRANCOIS O BARTHELEMY DIRECTOR 1.0 0.0 X 0 0 0 ROSEMARY T BERKERY DIRECTOR 1.0 0.0 X 0 0 0 CURT BRADBURY JR DIRECTOR 1.0 0.0 X 0 0 0 DAVID L BRUNNER DIRECTOR 1.0 0.0 X 0 0 0 WILLIAM CACCAMISE DIRECTOR 1.0 0.0 X 0 0 0 DANIEL B COLEMAN DIRECTOR 1.0 0.0 X 0 0 0 ANDREW S DUFF DIRECTOR 1.0 0.0 X 0 0 0 DAVID FINDLAY DIRECTOR 1.0 0.0 X 0 0 0 KIM TILLOTSON FLEMING DIRECTOR 1.0 0.0 X 0 0 0 KENNETH D GIBBS DIRECTOR 1.0 0.0 X 0 0 0 THOMAS HARNETT DIRECTOR 1.0 0.0 X 0 0 0 DOUGLAS M HODGE DIRECTOR 1.0 0.0 X 0 0 0 LISA KIDD HUNT DIRECTOR 1.0 0.0 X 0 0 0 RONALD KRUSZEWSKI DIRECTOR 1.0 0.0 X 0 0 0 BRAND MEYER DIRECTOR 1.0 0.0 X 0 0 0 SANDRA O'CONNOR DIRECTOR 1.0 0.0 X 0 0 0 TIMOTHY P O'HARA DIRECTOR 1.0 0.0 X 0 0 0 ROGER OCHS DIRECTOR 1.0 0.0 X 0 0 0 DAVID ORNSTEIN DIRECTOR 1.0 0.0 X 0 0 0 RICHARD B PAYNE JR DIRECTOR 1.0 0.0 X 0 0 0 KAREN B PEETZ DIRECTOR 1.0 0.0 X 0 0 0 PAUL E PURCELL DIRECTOR 1.0 0.0 X 0 0 0 PAUL REILLY DIRECTOR 1.0 0.0 X 0 0 0 JIM ROSENTHAL DIRECTOR 1.0 0.0 X 0 0 0 PAUL STEVELMAN DIRECTOR 1.0 0.0 X 0 0 0 JOSEPH E SWEENEY DIRECTOR 1.0 0.0 X 0 0 0 JOHN G TAFT DIRECTOR 1.0 0.0 X 0 0 0 KEIKO TASHIRO DIRECTOR 1.0 0.0 X 0 0 0 JAMES A TRICARICO JR DIRECTOR 1.0 0.0 X 0 0 0 JOHN VACCARO DIRECTOR 1.0 0.0 X 0 0 0 GEORGE WALKER DIRECTOR 1.0 0.0 X 0 0 0 JAMES WALLIN DIRECTOR 1.0 0.0 X 0 0 0 W RUFUS YATES DIRECTOR 1.0 0.0 X 0 0 0 MICHAEL LYUBLINSKY DIRECTOR (THRU 06/2015) 1.0 0.0 X 0 0 0 ROBERT J MOORE DIRECTOR (THRU 04/2015) 1.0 0.0 X 0 0 0 DONALD G STEEL DIRECTOR (THRU 11/2014) 1.0 0.0 X 0 0 0 BRYAN T WEADOCK DIRECTOR (THRU 11/2014) 1.0 0.0 X 0 0 0 ZION SHOHET DIRECTOR (THRU 06/2015) 1.0 0.0 X 0 0 0 KENNETH E BENTSEN JR PRESIDENT AND CEO 40.0 0.0 X X 2086618 0 59018 RANDOLPH C SNOOK EXECUTIVE VICE PRESIDENT 40.0 0.0 X 1013134 0 61112 IRA D HAMMERMAN EVP AND GENERAL COUNSEL, SECRE 40.0 0.0 X 948861 0 66210 CHERYL L CRISPEN EXECUTIVE VICE PRESIDENT 40.0 0.0 X 527084 0 31200 ANDY BLOCKER EVP (Started 1/15/2014) 40.0 0.0 X 635942 0 33478 DAVID B KRASNER CFO & CAO 40.0 0.0 X 640518 0 59018 SALVATORE CHIARELLI MANAGING DIRECTOR 40.0 0.0 X 252920 0 40239 TIMOTHY W CAMERON MANAGING DIRECTOR, AMG 40.0 0.0 X 569233 0 59018 MAN-YING LAM GLOBAL GFMA F/X (THRU 12/2014) 40.0 0.0 X 581207 0 49088 MICHAEL B DECKER MANAGING DIRECTOR 40.0 0.0 X 478784 0 61112 CARTER K MCDOWELL MD, ASSOCIATE GEN COUNSEL 40.0 0.0 X 473781 0 49359 MATTHEW NEVINS MD ASS GEN COUNSEL(Thru 02/15) 40.0 0.0 X 484496 0 59018 8692578 0 627870 88 false true false KPMG LLP DEPT 0511 PO BOX 120511 DALLAS TX 753127531 CONSULTING 1644452 Cleary Gottlieb Steen Hamilton LL ONE LIBERTY PLAZA NEW YORK NY 10006 LEGAL 1415634 Sidley Austin LLP PO BOX 0642 CHICAGO IL 60690 LEGAL 891118 Trustees Univ of Pennsylvania 255 S 38TH STREET PHILADELPHIA PA 19104 CONFERENCES 727860 Davis Polk Wardwell LLP 450 LEXINGTON AVENUE NEW YORK NY 10017 LEGAL 608044 30 0 MEMBER DUES 541900 47818201 47818201 CONFERENCES 541900 14422912 14408712 14200 PUBLICATION SALES 900099 190196 184396 5800 62431309 1510806 1510806 0 130180 130180 0 0 0 0 0 0 0 SHARED SERVICE AGREEMENT 561000 1244130 1244130 MISCELLANEOUS REVENUE 900099 35970 35970 1280100 65352395 62411309 20000 2921086 492400 0 0 0 6503960 0 22448221 2543102 2775904 1413491 190127 3201056 149070 1907378 0 76172 3657895 0 1379624 712229 0 5196614 1560167 0 6727660 0 0 2342207 0 SUBSCRIPTION AND BOOKS 394815 BANK CHARGES & CC PROCESSING 309793 DUES & REGISTRATION 222831 CONTRIBUTION & SPONSORSHIP 64044 275700 64544460 2018004 1327546 18878947 17005739 0 0 47596 220898 0 0 0 0 0 0 0 0 3862189 4114207 30041476 19200390 12441764 10841086 31691484 32007032 0 0 0 0 0 0 962296 2459727 69902280 67976235 11575232 10515050 0 0 3636291 3152806 0 0 552045 1275882 0 0 0 0 0 0 17139580 14238279 32903148 29182017 X 36999132 38794218 0 0 0 0 36999132 38794218 69902280 67976235 X 807935 -1132098 2119249 X false true X true false false false false 47818201 6223222 6223222 7172730 0 false true X 0 0 0 0 0 20544574 10655729 9888845 9496902 8544661 952241 0 0 10841086 0 DEFERRED RENT & CONSTR. ALLOWANCES 5672606 EMPLOYEE BENEFITS PAYABLE 8063666 OTHER LONG TERM LIABILITY 502007 14238279 X 66367608 -1132098 2158919 1026821 65340787 11608 11608 65352395 64572522 39670 39670 64532852 11608 11608 64544460 Part IV In order to finance certain member driven projects that are beyond SIFMA's operating budget resources and which impact only a subset of members, SIFMA syndicates out such project cost to participating member firms. The 3rd party project cost (and associated member reimbursement) is maintained within the SIFMA balance sheet. In 2015, the syndicated funds collected from members and disbursed for such special projects totaled $5,832,432 and $5,108,595, respectively. Part X FIN 48 The Association follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the positon, without regard to the likelihood that the tax position may be challenged. The Association is exempt from federal income tax under IRC section 501(c)(6), though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The Association has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which it was nexus; and to identify and evaluate other matters that may be considered tax positions. The tax years ended October 31, 2012, 2013, 2014, and 2015 are still open to audit for both federal and state purposes. The Association has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Part XI, Line 2d Post-retirement related changes other than net periodic post-retirement benefit cost $1,339,233 Contingent Accrual Release $558,706 Prior Year Accrual Release $260,980 -------------- Total other changes: $2,158,919 Part XII, Line 2d Membership dues reserve $39,670 true SCHOLARSHIP AMERICA 226 W NASSAU STPOBOX 240 ST PETER POBOX 240 ST PETER MN 56082 042296967 501(c)(3) 17900 PROGRAM SUPPORT THE BARUCH COLLEGE FUND 1 BERNARD BARUCH WAY NEW YORK NY 10010 131988190 501(c)(3) 10000 PROGRAM SUPPORT NCSL FOUNDATION FOR STATE LEGISLATURES 7700 EAST FIRST PLACE DENVER CO 80230 742232576 501(c)(3) 7500 PROGRAM SUPPORT COMMITTEE ON CAPITAL MARKETS REGULATIONINC 125 MOUNT AUBURN ST 3RD FLR CAMBRIDGE MA 02138 300406260 501(c)(3) 50000 PROGRAM SUPPORT NEW YORK LAW SCHOOL 185 WEST BROADWAY SUITE 400 NEW YORK NY 10013 135645885 501(c)(3) 10000 PROGRAM SUPPORT SEC HISTORICAL SOCIETY 1101 PA AVE NW S600 3RD FL WASHINGTON DC 20004 522213646 501(c)(3) 10000 PROGRAM SUPPORT NAPSA 920 SOUTH SPRING ST SPRINGFIELD IL 62704 300044497 501(c)(3) 20000 PROGRAM SUPPORT NEW YORK FINANCIAL WRITERS' ASSOCIATION PO BOX 338 RIDGEWOOD NJ 07451 136122376 501(c)(3) 7000 PROGRAM SUPPORT The Brookings Institution 1775 Massachusetts NW Washington DC 20036 530196577 501(c)(3) 300000 PROGRAM SUPPORT Third Way 1025 Connecticut NW501 Washington DC 20036 201734070 501(c)(4) 25000 PROGRAM SUPPORT 9 Part I, Line 2 SIFMA provides support to charitable organizations to help those organizations further their exempt programs. SIFMA is not a grant making organization but will occasionally award a grant to an eligible 501(c)(3) organizations in support of a project that aligns itself with SIFMA'S mission of promoting and supporting a strong financial industry. SIFMA maintains in its records the acknowledgment letter from the recipient organization and any follow up reports on the use of grant funds. X X true true X X X X false true false KENNETH E BENTSEN JR PRESIDENT AND CEO 1483006 0 600000 0 3612 0 31200 0 27818 0 2145636 0 0 0 RANDOLPH C SNOOK EXECUTIVE VICE PRESIDENT 651202 0 360000 0 1932 0 33294 0 27818 0 1074246 0 0 0 IRA D HAMMERMAN EVP AND GENERAL COUNSEL, SECRE 579429 0 350000 0 19432 0 38392 0 27818 0 1015071 0 0 0 CHERYL L CRISPEN EXECUTIVE VICE PRESIDENT 368324 0 157500 0 1260 0 31200 0 0 0 558284 0 0 0 ANDY BLOCKER EVP (Started 1/15/2014) 514779 0 120000 0 1163 0 7800 0 25678 0 669420 0 0 0 DAVID B KRASNER CFO & CAO 398586 0 240000 0 1932 0 31200 0 27818 0 699536 0 0 0 SALVATORE CHIARELLI MANAGING DIRECTOR 176711 0 75000 0 1209 0 30748 0 9491 0 293159 0 0 0 TIMOTHY W CAMERON MANAGING DIRECTOR, AMG 390621 0 175000 0 3612 0 31200 0 27818 0 628251 0 0 0 MAN-YING LAM GLOBAL GFMA F/X (THRU 12/2014) 278092 0 300000 0 3115 0 31200 0 17888 0 630295 0 0 0 MICHAEL B DECKER MANAGING DIRECTOR 311852 0 165000 0 1932 0 33294 0 27818 0 539896 0 0 0 CARTER K MCDOWELL MD, ASSOCIATE GEN COUNSEL 405169 0 65000 0 3612 0 31200 0 18159 0 523140 0 0 0 MATTHEW NEVINS MD ASS GEN COUNSEL(Thru 02/15) 363342 0 82500 0 38654 0 31200 0 27818 0 543514 0 0 0 Part I, Line 1a Per the employment contract, SIFMA provided first class air travel when traveling for SIFMA business for Kenneth E. Bentsen, JR., President and CEO. The first class air travel was excluded from taxable compensation on the individual's form w-2 because it was incurred for business reasons. Matthew Nevins, Associate General Counsel, received a taxable housing allowance which is included in his W-2. Part I, line 4b EVP and General Counsel participates in a 457(f) plan and a 457(b) plan. He received a taxable payment of $17,500 as part of the 457(b) plan included in his W-2 and SIFMA contributed $11,092 into the 457(f) plan during calendar year 2014. Part I, Line 6 The number of volunteers was derived from SIFMA committee participants per the membership data base. Part III, Line 4d Continued serving as a source of market information, including statistics on many facets of the market place and publishing research reports, trade newsletters and other periodicals and books. Part VI, Section A, Line 6 SIFMA is a membership organization with the following classes of membership: Broker-Dealer Members and Asset Manager Members Each Broker-Dealer Member and Asset Manager Member shall be entitled to vote with respect to the election of Directors and other matters as may be submitted at any annual or other meeting of Members entitled to vote. Associate Members Associate Members shall not be entitled to vote with respect to the election of Directors and other matters as may be submitted at any annual or other meeting of Members entitled to vote, and shall not be eligible to serve as Directors of the Association. Part VI, Section B, Line 11a 990 REVIEW PROCESS The Accounting department of the Organization prepares the Form 990 based on audited financial information. The draft Form 990 is then reviewed by management and an external independent accounting firm. The Audit and Finance Committee will review the final draft signed off by the external independent tax accountant. This review will be noted as an agenda item at an Audit and Finance Committee meeting and will be duly noted in the minutes. The Form 990 will be provided to all voting members of the Board of Trustees prior to submission to the IRS. Part VI, Section B, Line 12c CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT Any employee in a position where his or her objectivity may be questioned because of an individual interest or family or personal relationship is required to notify the General Counsel. Similarly, any employee aware of any transaction or relationship that could reasonably be expected to give rise to a personal conflict of interest is required to discuss the matter promptly with the General Counsel. In addition, once every year directors, officers, key employees, and all the employees of SIFMA are required to review a copy of the Conflict of Interest Policy and to acknowledge in writing that he or she is compliant. Part VI, Section B, Line 15 PROCESS FOR DETERMINING COMPENSATION The executive committee and the board acting as compensation committee hire consultants to review comparable packages for any new incoming CEO and officers. The consultant presents data for comparable positions both locally and nationally and the board's executive committee makes the final decision for the salary package. Currently, the CEO has an employment contract which was approved by the executive committee and the board, governing annual salary increase and any bonus payments. For the remaining senior officers, the annual salary increase and bonus payments are determined by the annual evaluation process which must be approved by the board's compensation committee. Part VI, Section C, Line 19 Availability of Documents Any request for governing documents, conflict of interest policy, and financial statements will be provided upon request at management's discretion. Part XI, Line 9 Post-retirement related changes other than net periodic post-retirement benefit cost $1,339,233 Contingent Accrual Release $558,706 Prior Year Accrual Release $260,980 Membership dues reserve ($39,670) ------------- Total other changes: $2,119,249 SIFMA Foundation for Investor Education 120 Broadway Avenue New York NY 10271 521087193 Economic Edu. DE 501(c)(3) 9 NA false false true false false false false false false false false false true false true true false true true true