FINRA REGULATION INC: Form 990, tax year 2014
View the entire original 990 at ProPublica ↗
- Organization
- FINRA REGULATION INC (EIN 52-1959501)
- Tax period
- 2014-01-01 to 2014-12-31
- Filed
- 2015-11-11
- IRS object ID
- 201513159349302651
- Schema version
- 2014v5.0
- 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 | 2015-11-11T12:20:20-06:00 | ReturnTs |
| Tax Period End | 2014-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ERNST & YOUNG US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | TWO NORTH CENTRAL AVENUE STE 2300 | AddressLine1Txt |
| City | PHOENIX | CityNm |
| State Abbreviation | AZ | StateAbbreviationCd |
| ZIP | 85004 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2014-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521959501 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FINRA REGULATION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % MARCIA E ASQUITH | InCareOfNm |
| Business Name Control | FINR | BusinessNameControlTxt |
| Phone | 2027288949 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1735 K STREET NW | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20006 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ROBERT A RENNER | PersonNm |
| Person Title | VICE PRESIDENT | PersonTitleTxt |
| Signature | 2015-11-10 | SignatureDt |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | BRENDA D GRIESEMER | PreparerPersonNm |
| PTIN | P00264669 | PTIN |
| Phone | 6023223000 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2014 | TaxYr |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RICHARD G KETCHUM | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1735 K STREET NW | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 200061506 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $852,977,571 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.FINRA.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1996 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | FINRA IS DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 11 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 11 | VotingMembersIndependentCnt |
| Total Employee | 2753 | TotalEmployeeCnt |
| Total Volunteers | 1 | TotalVolunteersCnt |
| Total Gross UBI | $26,050 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $3,792 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $756,384,367 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $852,600,052 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $359,218 | PYOtherRevenueAmt |
| CY Other Revenue | $377,519 | CYOtherRevenueAmt |
| PY Total Revenue | $756,743,585 | PYTotalRevenueAmt |
| CY Total Revenue | $852,977,571 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $348,052 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $254,363 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $437,082,328 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $403,629,283 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $221,747,268 | PYOtherExpensesAmt |
| CY Other Expenses | $195,104,097 | CYOtherExpensesAmt |
| PY Total Expenses | $659,177,648 | PYTotalExpensesAmt |
| CY Total Expenses | $598,987,743 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $97,565,937 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $253,989,828 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $48,496,583 | TotalAssetsBOYAmt |
| Total Assets EOY | $50,581,527 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $397,605,472 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $442,648,318 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$349,108,889 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$392,066,791 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | FINRA IS DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | SEE SCHEDULE O | Desc |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 73 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 2753 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 11 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 11 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (true) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MARCIA E ASQUITH | PersonNm |
| Phone | 2027288949 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1735 K STREET NW | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 200061506 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (40 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| W DENNIS FERGUSON | ||||||||||
| CHAIR, REG POLICY CMTE PART-YR | 3.0 | 0.0 | Yes (X) | $0 | $82,667 | $0 | ||||
| HARVEY J GOLDSCHMID | ||||||||||
| CHAIR, REG POLICY CMTE PART-YR | 3.0 | 0.0 | Yes (X) | $0 | $66,280 | $0 | ||||
| CHARLES A BOWSHER | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $61,965 | $0 | ||||
| KEVIN CARRENO | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $80,223 | $0 | ||||
| MARK S CASADY | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $80,504 | $0 | ||||
| GREGORY J FLEMING | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||||
| BRIGITTE C MADRIAN | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $80,150 | $0 | ||||
| KEN NORENSBERG | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $60,834 | $0 | ||||
| RICHARD S PECHTER | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $87,771 | $0 | ||||
| JOHN W SCHMIDLIN | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $80,785 | $0 | ||||
| JOEL SELIGMAN | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $80,498 | $0 | ||||
| GARY H STERN | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $41,018 | $0 | ||||
| KURT P STOCKER | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $63,335 | $0 | ||||
| ELISSE B WALTER | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $40,220 | $0 | ||||
| JAMES D WEDDLE | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $87,933 | $0 | ||||
| SUSAN WOLBURGH-JENAH | ||||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | 0.0 | Yes (X) | $0 | $40,220 | $0 | ||||
| RICHARD G KETCHUM | ||||||||||
| CEO | 60.0 | 0.0 | $0 | $2,812,798 | $81,030 | Yes (X) | ||||
| TODD T DIGANCI | ||||||||||
| EXECUTIVE VP AND CFO | 60.0 | 0.0 | $0 | $1,221,511 | $67,258 | Yes (X) | ||||
| MARCIA E ASQUITH | ||||||||||
| SENIOR VP AND CORP SECRETARY | 60.0 | 0.0 | $0 | $552,315 | $102,098 | Yes (X) | ||||
| F GREGORY AHERN | ||||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0.0 | $0 | $962,714 | $65,010 | Yes (X) | ||||
| SUSAN F AXELROD | ||||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0.0 | $919,163 | $0 | $176,566 | Yes (X) | ||||
| J BRADLEY BENNETT | ||||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0.0 | $928,686 | $0 | $128,011 | Yes (X) | ||||
| ROBERT L D COLBY | ||||||||||
| EVP & CHIEF LEGAL OFFICER | 60.0 | 0.0 | $0 | $1,012,305 | $155,561 | Yes (X) | ||||
| CARLO DI FLORIO | ||||||||||
| CHIEF RISK OFFICER | 60.0 | 0.0 | $0 | $874,639 | $179,321 | Yes (X) | ||||
| LINDA D FIENBERG | ||||||||||
| PRESIDENT - DISPUTE RESOLUTION | 60.0 | 0.0 | $0 | $1,672,888 | $521,695 | Yes (X) | ||||
| THOMAS R GIRA | ||||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0.0 | $895,226 | $0 | $123,507 | Yes (X) | ||||
| TRACY B JOHNSON | ||||||||||
| SENIOR VICE PRESIDENT | 60.0 | 0.0 | $0 | $582,548 | $92,142 | Yes (X) | ||||
| STEVEN A JOACHIM | ||||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0.0 | $0 | $850,371 | $108,355 | Yes (X) | ||||
| DEREK W LINDEN | ||||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0.0 | $688,961 | $0 | $85,045 | Yes (X) | ||||
| STEVEN J RANDICH | ||||||||||
| EXECUTIVE VP & CIO | 60.0 | 0.0 | $0 | $1,023,308 | $178,805 | Yes (X) | ||||
| STEPHEN M SCHOENEMAN | ||||||||||
| SENIOR VICE PRESIDENT | 60.0 | 0.0 | $0 | $590,767 | $128,467 | Yes (X) | ||||
| THOMAS M SELMAN | ||||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0.0 | $718,424 | $0 | $71,202 | Yes (X) | ||||
| JONATHAN J SOKOBIN | ||||||||||
| SENIOR VICE PRESIDENT | 60.0 | 0.0 | $0 | $411,125 | $102,440 | Yes (X) | ||||
| GRACE B VOGEL | ||||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0.0 | $521,841 | $0 | $4,623 | Yes (X) | ||||
| CAMERON K FUNKHOUSER | ||||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0.0 | $784,836 | $0 | $75,024 | Yes (X) | ||||
| GARY K LIEBOWITZ | ||||||||||
| SENIOR VICE PRESIDENT | 60.0 | 0.0 | $1,029,744 | $0 | $203,131 | Yes (X) | ||||
| CARLOTTA A ROMANO | ||||||||||
| SENIOR VICE PRESIDENT | 60.0 | 0.0 | $1,131,381 | $0 | $421,682 | Yes (X) | ||||
| DANIEL SIBEARS | ||||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0.0 | $771,555 | $0 | $104,402 | Yes (X) | ||||
| MICHAEL SOLOMON | ||||||||||
| SENIOR VICE PRESIDENT | 60.0 | 0.0 | $791,717 | $0 | $60,417 | Yes (X) | ||||
| MARTIN P COLBURN | ||||||||||
| EXECUTIVE VP AND CTO | 0.0 | 0.0 | $0 | $141,556 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $9,181,534 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $13,743,248 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $3,235,792 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1399 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| PROMETRIC | |||||
| PO BOX 223608 | PITTSBURGH | PA | 15251 | TESTING SERVICES | $18,290,921 |
| NCS PEARSON INCORPORATED | |||||
| 21866 NETWORK PLACE | CHICAGO | IL | 60673 | TESTING SERVICES | $5,918,046 |
| MCKINSEY COMPANY | |||||
| PO BOX 71303 | CHICAGO | IL | 60694 | CONSULTING | $2,550,300 |
| VERITEXT YORK | |||||
| PO BOX 71303 | CHICAGO | IL | 60694 | CONSULTING | $2,230,910 |
| MINDBANK CONSULTING GROUP | |||||
| 11800 SUNRISE VALLEY DRIVE | RESTON | VA | 20191 | TECH. CONSULTING | $292,022 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 12 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| REGULATORY FEES | 900099 | $428,061,675 | $428,061,675 | |
| USER FEES | 900099 | $216,354,045 | $216,327,995 | $26,050 |
| CONTRACT SERVICE FEES | 900099 | $75,406,286 | $75,406,286 | |
| FINES | 900099 | $132,557,018 | $132,557,018 | |
| ALL OTHER PROGRAM SERVICE REVENUE | 900099 | $221,028 | $221,028 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $852,600,052 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $377,519 | TotalRevenueColumnAmt |
| Exclusion | $377,519 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $852,977,571 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $852,574,002 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $26,050 | UnrelatedBusinessRevenueAmt |
| Exclusion | $377,519 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $254,363 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,201,351 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $303,381,238 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $44,885,205 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,844,987 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,316,502 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,421,116 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $659,851 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $104,000 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,713,346 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $68,623 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,845,156 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,045,469 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,175,803 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,170,913 | TotalAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,094,504 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,959,387 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| OVERHEAD ALLOCATION | $99,831,290 |
| TEMPORARY HELP | $1,181,154 |
| BAD DEBT EXPENSE | $2,178,220 |
| PUBLICATIONS/PRINTING | $441,939 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $213,326 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $598,987,743 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,194,002 | BOYAmt |
| EOY | $18,581,893 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,505,968 | BOYAmt |
| EOY | $26,993,675 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $279,847 | BOYAmt |
| EOY | $398,188 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $188,547,288 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $184,097,379 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,355,931 | BOYAmt |
| EOY | $4,449,909 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | 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 |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $160,835 | BOYAmt |
| EOY | $82,692 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $75,170 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,496,583 | BOYAmt |
| EOY | $50,581,527 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $318,838,310 | BOYAmt |
| EOY | $365,617,749 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $78,767,162 | BOYAmt |
| EOY | $77,030,569 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $397,605,472 | BOYAmt |
| EOY | $442,648,318 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $350,000 | BOYAmt |
| EOY | $350,000 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,000,000 | BOYAmt |
| EOY | $50,000,000 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$399,458,889 | BOYAmt |
| EOY | -$442,416,791 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$349,108,889 | BOYAmt |
| EOY | -$392,066,791 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,496,583 | BOYAmt |
| EOY | $50,581,527 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $253,989,828 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$296,947,730 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp | |
| Land | LandGrp | |
| Buildings | BuildingsGrp |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $26,850,915 | OtherCostOrOtherBasisAmt |
| Depreciation | $26,561,298 | DepreciationAmt |
| Book Value | $289,617 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,486,135 | OtherCostOrOtherBasisAmt |
| Depreciation | $6,262,158 | DepreciationAmt |
| Book Value | $223,977 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $155,210,237 | OtherCostOrOtherBasisAmt |
| Depreciation | $151,273,923 | DepreciationAmt |
| Book Value | $3,936,314 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $4,449,909 | TotalBookValueLandBuildingsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
| Total Liability | $0 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE D, PART X, LINE 2 | FormAndLineReferenceDesc |
| Explanation | ASC 740 FOOTNOTE FROM CONSOLIDATED AUDITED FINANCIAL STATEMENTS U.S. GAAP PROVIDES A TWO-STEP APPROACH FOR EVALUATING TAX POSITIONS. RECOGNITION (STEP 1) OCCURS WHEN AN ENTITY CONCLUDES THAT A TAX POSITION, BASED SOLELY ON ITS TECHNICAL MERITS, IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. IN STEP 2 (MEASUREMENT), THE TAX BENEFIT IS MEASURED AS THE LARGEST AMOUNT OF BENEFIT, DETERMINED ON A CUMULATIVE PROBABILITY BASIS, THAT IS MORE LIKELY THAN NOT TO BE REALIZED UPON ULTIMATE SETTLEMENT. DURING THE YEARS FROM 2011 TO 2014, WHICH REPRESENT THE YEARS MANAGEMENT CONSIDERS TO BE OPEN FOR EXAMINATION BY TAXING AUTHORITIES, MANAGEMENT DID NOT IDENTIFY THE EXISTENCE OF ANY UNCERTAIN TAX POSITIONS. ACCORDINGLY, ALL TAX POSITIONS ARE RECOGNIZED AND MEASURED AT THEIR FULL BENEFIT IN THE CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF OPERATIONS. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (10 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| ADVOCATES FOR CHILDREN OF NEW YORK | |||||||
| 151 WEST 30TH STREET | NEW YORK | NY | 10001 | 112247307 | 501(C)(3) | $10,000 | AWARDS DINNER |
| AMERICAN ENDOWMENT FOUNDATION | |||||||
| 1521 GEORGETOWN ROAD | HUDSON | OH | 44236 | 341747398 | 501(C)(3) | $75,192 | 2014 CONTRIBUTION |
| APPLESEED FOUNDATION INC | |||||||
| 727 15TH STREETNW | WASHINGTON | DC | 20005 | 521835698 | 501(C)(3) | $10,000 | AWARDS DINNER |
| CONSUMER FEDERATION OF AMERICA | |||||||
| 1424 16TH STREET NW | WASHINGTON | DC | 20036 | 520880625 | 501(C)(3) | $30,000 | 2014 CONTRIBUTION |
| COUNCIL FOR ECONOMIC EDUCATION | |||||||
| 122 E 42ND STREET | NEW YORK | NY | 10168 | 131623848 | 501(C)(3) | $25,000 | AWARDS DINNER |
| EMPLOYEE BENEFIT RESEARCH INSTITUTE | |||||||
| 1100 13TH STREET | WASHINGTON | DC | 20005 | 521190398 | 501(C)(3) | $34,500 | AWARDS DINNER |
| JUMPSTART COALITION FOR PERSONAL LITERACY | |||||||
| 919 18TH STREET NW | WASHINGTON | DC | 20004 | 522031287 | 501(C)(3) | $25,000 | AWARDS DINNER |
| OPERATION HOPE | |||||||
| 707 WILSHIRE BLVD | LOS ANGELES | CA | 90017 | 930959834 | 501(C)(3) | $10,000 | 2014 CONTRIBUTION |
| SEC HISTORICAL SOCIETY | |||||||
| 1101 PENNSYLVANIA AVE | WASHINGTON | DC | 20004 | 522213646 | 501(C)(3) | $15,000 | AWARDS DINNER |
| SIFMA INVESTOR EDUCATION FOUNDATION | |||||||
| 120 BROADWAY | NEW YORK | NY | 10271 | 521087193 | 501(C)(3) | $15,000 | 2014 CONTRIBUTION |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 10 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Schedule I | VOLUNTARY DISCLOSURE FOR APPLESEED FOUNDATION CONTRIBUTION DURING 2014: RICHARY G. KETCHUM, FINRA CEO, SERVED AS A BOARD MEMBER OF THE APPLESEED FOUNDATION. THE DONATION MADE TO THE AMERICAN ENDOWMENT FOUNDATION REPRESENTS THE EMPLOYER MATCH FOR BENEVITY, FINRA REGULATION'S WORKPLACE GIVING CAMPAIGN. |
| OVERSIGHT AND RECORDKEEPING OF CONTRIBUTIONS | CHARITABLE CONTRIBUTIONS ARE REVIEWED AND APPROVED BY THE APPROPRIATE BUSINESS UNIT HEAD (OR THEIR DESIGNEE). THE ORGANIZATION MAINTAINS RECORDS TO SUBSTANTIATE THE AMOUNT AND THE PURPOSE OF THE CHARITABLE CONTRIBUTIONS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Personal Services | Yes (X) | PersonalServicesInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Severance Payment | Yes (true) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (24 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD G KETCHUM | ||||||||||||||
| CEO | $0 | $978,762 | $0 | $1,500,000 | $0 | $334,036 | $0 | $61,388 | $0 | $19,642 | $0 | $2,893,828 | $0 | $0 |
| TODD T DIGANCI | ||||||||||||||
| EXECUTIVE VP AND CFO | $0 | $519,039 | $0 | $680,000 | $0 | $22,472 | $0 | $40,686 | $0 | $26,572 | $0 | $1,288,769 | $0 | $0 |
| MARCIA E ASQUITH | ||||||||||||||
| SENIOR VP AND CORP SECRETARY | $0 | $249,420 | $0 | $280,000 | $0 | $22,895 | $0 | $78,270 | $0 | $23,828 | $0 | $654,413 | $0 | $0 |
| F GREGORY AHERN | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $0 | $391,368 | $0 | $400,000 | $0 | $171,346 | $0 | $33,050 | $0 | $31,960 | $0 | $1,027,724 | $0 | $69,334 |
| SUSAN F AXELROD | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $423,483 | $0 | $475,000 | $0 | $20,680 | $0 | $128,527 | $0 | $48,039 | $0 | $1,095,729 | $0 | $0 | $0 |
| J BRADLEY BENNETT | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $417,396 | $0 | $490,000 | $0 | $21,290 | $0 | $122,758 | $0 | $5,253 | $0 | $1,056,697 | $0 | $0 | $0 |
| MARTIN P COLBURN | ||||||||||||||
| EXECUTIVE VP AND CTO | $0 | $0 | $0 | $0 | $0 | $141,556 | $0 | $0 | $0 | $0 | $0 | $141,556 | $0 | $0 |
| ROBERT L D COLBY | ||||||||||||||
| EVP & CHIEF LEGAL OFFICER | $0 | $479,574 | $0 | $510,000 | $0 | $22,731 | $0 | $139,355 | $0 | $16,206 | $0 | $1,167,866 | $0 | $0 |
| CARLO DI FLORIO | ||||||||||||||
| CHIEF RISK OFFICER | $0 | $428,278 | $0 | $435,000 | $0 | $11,361 | $0 | $123,105 | $0 | $56,216 | $0 | $1,053,960 | $0 | $0 |
| LINDA D FIENBERG | ||||||||||||||
| PRESIDENT - DISPUTE RESOLUTION | $0 | $412,315 | $0 | $360,000 | $0 | $900,573 | $0 | $502,177 | $0 | $19,518 | $0 | $2,194,583 | $0 | $0 |
| THOMAS R GIRA | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $416,683 | $0 | $475,000 | $0 | $3,543 | $0 | $81,964 | $0 | $41,543 | $0 | $1,018,733 | $0 | $0 | $0 |
| TRACY B JOHNSON | ||||||||||||||
| SENIOR VICE PRESIDENT | $0 | $302,918 | $0 | $260,500 | $0 | $19,130 | $0 | $79,898 | $0 | $12,244 | $0 | $674,690 | $0 | $0 |
| STEVEN A JOACHIM | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $0 | $370,774 | $0 | $450,000 | $0 | $29,597 | $0 | $64,761 | $0 | $43,594 | $0 | $958,726 | $0 | $0 |
| DEREK W LINDEN | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $332,893 | $0 | $345,000 | $0 | $11,068 | $0 | $53,695 | $0 | $31,350 | $0 | $774,006 | $0 | $0 | $0 |
| STEVEN J RANDICH | ||||||||||||||
| EXECUTIVE VP & CIO | $0 | $476,800 | $0 | $525,000 | $0 | $21,508 | $0 | $141,002 | $0 | $37,803 | $0 | $1,202,113 | $0 | $0 |
| STEPHEN M SCHOENEMAN | ||||||||||||||
| SENIOR VICE PRESIDENT | $0 | $318,826 | $0 | $250,000 | $0 | $21,941 | $0 | $97,805 | $0 | $30,662 | $0 | $719,234 | $0 | $0 |
| THOMAS M SELMAN | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $336,325 | $0 | $360,000 | $0 | $22,099 | $0 | $43,398 | $0 | $27,804 | $0 | $789,626 | $0 | $0 | $0 |
| JONATHAN J SOKOBIN | ||||||||||||||
| SENIOR VICE PRESIDENT | $0 | $251,776 | $0 | $115,000 | $0 | $44,349 | $0 | $65,847 | $0 | $36,593 | $0 | $513,565 | $0 | $0 |
| GRACE B VOGEL | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $8,679 | $0 | $500,000 | $0 | $13,162 | $0 | $4,519 | $0 | $104 | $0 | $526,464 | $0 | $0 | $0 |
| CAMERON K FUNKHOUSER | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $349,095 | $0 | $390,000 | $0 | $45,741 | $0 | $46,604 | $0 | $28,420 | $0 | $859,860 | $0 | $0 | $0 |
| GARY K LIEBOWITZ | ||||||||||||||
| SENIOR VICE PRESIDENT | $87,347 | $0 | $175,000 | $0 | $767,397 | $0 | $191,375 | $0 | $11,756 | $0 | $1,232,875 | $0 | $0 | $0 |
| CARLOTTA A ROMANO | ||||||||||||||
| SENIOR VICE PRESIDENT | $207,613 | $0 | $280,000 | $0 | $643,768 | $0 | $405,586 | $0 | $16,096 | $0 | $1,553,063 | $0 | $0 | $0 |
| DANIEL SIBEARS | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $369,864 | $0 | $376,500 | $0 | $25,191 | $0 | $61,968 | $0 | $42,434 | $0 | $875,957 | $0 | $0 | $0 |
| MICHAEL SOLOMON | ||||||||||||||
| SENIOR VICE PRESIDENT | $302,874 | $0 | $305,000 | $0 | $183,843 | $0 | $29,500 | $0 | $30,917 | $0 | $852,134 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SUPPLEMENTAL COMPENSATION INFORMATION | FOR THE HIGHEST COMPENSATED EXECUTIVES, BASE SALARY AND INCENTIVE COMPENSATION (EARNED IN THE PRIOR YEAR) REPORTED IN COLUMNS B(i) AND B(ii) ARE INDEPENDENTLY DETERMINED AND APPROVED BY THE MANAGEMENT COMPENSATION COMMITTEE OF THE BOARD OF GOVERNORS. OTHER REPORTABLE COMPENSATION (COLUMN B(III)) IS LARGELY COMPOSED OF RETIREMENT VESTING AND/OR PAYOUT EVENTS FROM NON-QUALIFIED PLANS, AS WELL AS SEVERANCE OR SEPARATION PAYMENTS, IF APPLICABLE. FOR FURTHER DETAILS REGARDING HOW EXECUTIVE COMPENSATION IS ESTABLISHED, PLEASE REFER TO SCHEDULE O. SCHEDULE J, PART I, LINE 1 FIRST CLASS OR CHARTER TRAVEL: THE NEXT CABIN ABOVE ECONOMY IS ALLOWED FOR INTERNATIONAL TRAVEL TO AND FROM THE U.S., WHERE THE FLIGHT TIME IS OVER SIX HOURS DIRECT. IT IS ALSO ALLOWED FOR ALL TRAVEL FROM THE U.S. MAINLAND TO HAWAII AND FOR DIRECT FLIGHTS WITHIN EUROPE THAT ARE OVER FIVE HOURS IN DURATION. OTHERWISE, ECONOMY CLASS IS REQUIRED. REIMBURSEMENT TO BOARD MEMBERS FOR FIRST CLASS TRAVEL EXPENSES INCURRED WHILE ATTENDING BOARD AND CORPORATE COMMITTEE MEETINGS ON BEHALF OF FINRA, FINRA REGULATION, INC., AND FINRA DISPUTE RESOLUTION, INC. IS PERMITTED. TRAVEL FOR COMPANIONS: IN LIEU OF A WEEKEND TRIP HOME, EMPLOYEES WHO ARE ON EXTENDED STAY (I.E., AN OUT-OF-TOWN HOTEL STAY OF SIX CONSECUTIVE NIGHTS OR LONGER), AND WHERE A DIRECT FLIGHT IS TWO OR MORE HOURS FROM HOME, WILL HAVE THE OPTION TO INVITE A COMPANION TO THEIR WORK DESTINATION OR TRAVEL TO AN ALTERNATE LOCATION. HOWEVER, EMPLOYEES WILL ONLY BE REIMBURSED UP TO THE COST OF WHAT A COACH CLASS TICKET WOULD HAVE BEEN FOR THE EMPLOYEE TO TRAVEL HOME FOR THE WEEKEND. THE REIMBURSEMENT AMOUNT WILL BE A TAXABLE FRINGE BENEFIT TO THE EMPLOYEE, AND THE EMPLOYEE IS RESPONSIBLE FOR ALL TAXES. COMPANION WEEKEND TRAVEL MUST BE APPROVED BY THE EMPLOYEE'S SENIOR VICE PRESIDENT AND THE MANAGER OF CORPORATE TRAVEL SERVICES BEFORE THE TRIP. COMPANION MEALS, GROUND TRANSPORTATION AND AIRPORT PARKING ARE AT THE EMPLOYEE'S EXPENSE AND CANNOT BE CHARGED TO THE CORPORATE CREDIT CARD OR SUBMITTED FOR REIMBURSEMENT. WHEN COMPANIONS ARE INVITED ON BEHALF OF FINRA, FINRA REGULATION, AND FINRA DISPUTE RESOLUTION TO BOARD MEETINGS, THEIR AIRFARE IS REIMBURSABLE. HEALTH AND CLUB DUES: AS PART OF ITS WELLNESS PROGRAM, FINRA OFFERS SUBSIDIZED GYM MEMBERSHIPS TO EMPLOYEES OF FINRA AND SUBSIDIARIES AT CERTAIN LOCATIONS. ALSO, THE CEO'S CONTRACT PROVIDES FOR UP TO A MAXIMUM AMOUNT OF $20,000 EACH CALENDAR YEAR FOR ADMISSION FEES, DUES AND HOUSE CHARGES OF ONE CLUB IN EACH OF THE NEW YORK CITY AND WASHINGTON, D.C. METROPOLITAN AREAS TO BE USED FOR BUSINESS PURPOSES. EXECUTIVE HEALTH PLAN: THE EXECUTIVE HEALTH PLAN IS AVAILABLE TO FINRA STAFF AT A LEVEL OF EXECUTIVE VICE PRESIDENT AND ABOVE AND OTHER EMPLOYEES AS DESIGNATED BY THE CEO. THE EXECUTIVE HEALTH PLAN COVERS PROCEDURES RELATED TO THE DIAGNOSIS AND PREVENTION OF A MEDICAL CONDITION(S). THE FINRA EXECUTIVE HEALTH PLAN PROVIDES FOR ONE ASSESSMENT PER YEAR. TAX INDEMNIFICATION: GIFTS TO EMPLOYEES ARE CONSIDERED TAXABLE COMPENSATION UNDER THE IRS CODE. THE FAIR MARKET VALUE OF THE GIFT TO THE EMPLOYEE WILL BE INCLUDED AS WAGES ON THE EMPLOYEE'S W-2. IN GENERAL, IT IS FINRA'S PRACTICE TO "GROSS UP," OR ADJUST THE WAGES AND TAXES SO THAT THE TAX EFFECT OF RECEIVING A GIFT IS NEUTRAL TO THE EMPLOYEE. IT IS ALSO FINRA'S PRACTICE TO "GROSS-UP" EMPLOYEE RELOCATION EXPENSES, AS WELL AS FOOD AND LODGING EXPENSES INCURRED AS PART OF THE EXECUTIVE HEALTH PLAN. PERSONAL SERVICES: THE CEO'S CONTRACT PROVIDES FOR A CAR AND DRIVER IN BOTH NEW YORK CITY, NEW YORK AND WASHINGTON, D.C. TO BE USED FOR BUSINESS PURPOSES. THESE SERVICES, WHICH ARE USED PRINCIPALLY BY THE CEO, ARE USED BY OTHER FINRA EMPLOYEES FOR BUSINESS PURPOSES WHEN AVAILABLE. THE CEO'S CONTRACT ALSO PROVIDES FOR COSTS INCURRED RELATED TO PERSONAL FINANCIAL AND TAX COUNSELING, UP TO $20,000 PER CALENDAR YEAR, AS WELL AS SPOUSAL TRAVEL FOR CERTAIN BUSINESS-RELATED EVENTS. |
| SCHEDULE J, PART I, LINES 3, 4A AND 4B | SUPPLEMENTAL COMPENSATION INFORMATION LINE 3) COMPENSATION FOR THE CEO/EXECUTIVE DIRECTOR IS ESTABLISHED AT THE PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FOR FURTHER DETAILS REGARDING COMPENSATION OF OFFICERS, PLEASE REFER TO THE 2014 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 FOR FINRA REGULATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY. 4A) IN CONNECTION WITH MARTIN P. COLBURN'S SEPARATION FROM FINRA, HE WAS PAID $141,556 IN 2014. IN CONNECTION WITH LINDA D. FIENBERG'S SEPARATION FROM FINRA DISPUTE RESOLUTION, INC. SHE WAS PAID $26,521 IN 2014. IN CONNECTION WITH GARY K. LIEBOWITZ'S SEPARATION FROM FINRA REGULATION, INC., HE WAS PAID $197,256 IN 2014. IN CONNECTION WITH CARLOTTA A. ROMANO'S SEPARATION FROM FINRA REGULATION, INC. SHE WAS PAID $98,460 IN 2014. LINE 4B) FINRA OFFERS TWO NON-QUALIFIED SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS. ANNUAL INCREASES IN BENEFIT VALUE, CLIFF VESTING EVENTS, AND PAYOUT DIFFERENTIALS ARE TAXABLE IN THE YEAR IN WHICH THEY OCCUR AND ARE REPORTED IN COLUMN B(III) OF SCHEDULE J, PART II. UNVESTED BENEFIT AND CONTRIBUTION ACCRUALS ARE TAX DEFERRED AND ARE REPORTED IN COLUMN C OF SCHEDULE J, PART II. 1) FINRA'S SUPPLEMENTAL DEFINED BENEFIT PLAN IS A NON-QUALIFIED DEFINED BENEFIT PLAN THAT IS PROVIDED TO MEMBERS OF A SELECT GROUP OF MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES SUCH AS THOSE DESCRIBED UNDER 201(2), 301(A)(3), AND 401(A)(1) OF ERISA. IT IS A FINRA FUNDED PLAN IN WHICH PARTICIPANTS TYPICALLY HAVE A TAXABLE ONE-TIME CLIFF VESTING EVENT AT A SPECIFIED MILESTONE BASED ON BOTH AGE AND YEARS OF SERVICE. THIS PLAN WAS CLOSED TO NEW ENTRANTS AS OF 12/31/05. PARTICIPANTS IN THE NON-QUALIFIED DEFINED BENEFIT PLAN THAT HAD A CLIFF VESTING EVENT IN 2014 INCLUDE: CAMERON FUNKHOUSER - $23,733 THE AMOUNTS BELOW REPRESENT THE ACCUMULATED BENEFITS RECOGNIZED IN THE CURRENT YEAR FOR FEDERAL INCOME TAX PURPOSES UPON THE INDIVIDUALS' SEPARATION FROM FINRA AND THE PLAN. THE BENEFITS WERE EARNED WITHIN THE NON-QUALIFIED DEFINED BENEFIT PLAN OVER THE DURATION OF THE INDIVIDUALS' YEARS OF SERVICE TO FINRA. THESE AMOUNTS VARY BY INDIVIDUAL BASED ON YEARS OF SERVICE (RANGING FROM 10-30 PLUS YEARS), COMPENSATION LEVELS AND PAY GRADE, AGE AT SEPARATION, AND PREVIOUS VESTING EVENTS. LINDA D. FIENBERG - $570,200 GARY LIEBOWITZ - $521,709 CARLOTTA ROMANO - $524,941 2) FINRA'S SUPPLEMENTAL DEFINED CONTRIBUTION PLAN IS A NON-QUALIFIED PLAN THAT IS OPEN TO VICE PRESIDENTS AND ABOVE WITH AN ANNUAL BASE PAY ABOVE THE QUALIFIED LIMIT. IT IS ONLY OPEN TO THOSE NOT PARTICIPATING IN THE CLOSED NON-QUALIFIED DEFINED BENEFIT PLAN DESCRIBED ABOVE. IT IS A FINRA FUNDED PLAN WITH A 3 YEAR VESTING CYCLE WITH ANNUAL VESTING BEGINNING AT AGE 62. PARTICIPANTS IN THE SUPPLEMENTAL NON-QUALIFIED DEFINED CONTRIBUTION PLAN WITH CONTRIBUTIONS VESTING IN 2014 INCLUDE: F. GREGORY AHERN - $159,200 RICHARD G. KETCHUM - $300,020 MICHAEL SOLOMON - $163,948 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| VOLUNTARY DISCLOSURE FOR FINANCIAL INFORMATION | THE FINANCIAL INFORMATION INCLUDED IN THE FORM 990 IS PRESENTED ON A STAND-ALONE BASIS WITH ALL SIGNIFICANT INTERCOMPANY RECEIVABLE AND PAYABLE AMOUNTS ELIMINATED AND DOES NOT REPRESENT THE CONSOLIDATED RESULTS FOR FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. (FINRA) AND ITS SUBSIDIARIES. THE FINANCIAL INFORMATION PRESENTED REFLECTS ESTIMATES OF OVERHEAD ALLOCATIONS. THE 2014 FORM 990 SHOULD BE READ IN CONNECTION WITH THE 2014 FINRA ANNUAL FINANCIAL REPORT WHICH IS AVAILABLE AT WWW.FINRA.ORG/ABOUT/ANNUAL-REPORTS-FINANCIALS. SEE ALSO SEPARATE 2014 FORM 990'S FOR RELATED ENTITIES, INCLUDING FINRA, FINRA DISPUTE RESOLUTION, INC., AND FINRA INVESTOR EDUCATION FOUNDATION. |
| FORM 990, PART III, LINE 4 | FINRA IS AN INDEPENDENT, NON-GOVERNMENTAL REGULATOR FOR ALL SECURITIES FIRMS DOING BUSINESS WITH THE PUBLIC IN THE UNITED STATES. THROUGH FINRA REGULATION, FINRA OVERSEES OVER 4,000 BROKERAGE FIRMS, ABOUT 163,000 BRANCH OFFICES AND ALMOST 638,000 REGISTERED SECURITIES REPRESENTATIVES. FINRA IS DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY. 4A) MARKET REGULATION FINRA'S MARKET REGULATION DEPARTMENT OVERSEES AND REGULATES OVER-THE-COUNTER TRADING OF EXCHANGE-LISTED AND NON-EXCHANGE-LISTED SECURITIES AND CORPORATE AND MUNICIPAL DEBT FOR COMPLIANCE WITH FINRA AND MUNICIPAL SECURITIES RULEMAKING (MSRB) AND FEDERAL SECURITIES LAWS. MARKET REGULATION ALSO PROVIDES REGULATORY SERVICES TO NASDAQ OMX, NASDAQ OMX PHLX, NASDAQ OMX BX, NYSE ARCA AND DIRECT EDGE. IN 2014, MARKET REGULATION OPENED 5,778 REVIEWS OR INVESTIGATIONS AND 211 EXAMINATIONS. IN ADDITION, THE DEPARTMENT REFERRED 372 MATTERS TO THE SECURITIES AND EXCHANGE COMMISSION. 4B) FINRA'S MEMBER REGULATION DEPARTMENT HAS A COMPREHENSIVE EXAMINATION PROGRAM WITH DEDICATED RESOURCES OF MORE THAN 1,100 EMPLOYEES. STAFF FROM MEMBER REGULATION CONDUCT REGULAR AND BRANCH OFFICE EXAMINATIONS ON A SCHEDULE THAT IS ESTABLISHED BASED ON A RISK-PROFILE MODEL. IN ADDITION, MEMBER REGULATION CONDUCTS REVIEWS AND TARGETED EXAMINATIONS BASED ON INVESTOR COMPLAINTS, REFERRALS FROM OTHER FINRA DEPARTMENTS, TERMINATIONS OF BROKERAGE EMPLOYEES FOR CAUSE, ARBITRATIONS AND REFERRALS FROM OTHER REGULATORS. MEMBER REGULATION ALSO DETERMINES EXAMINATION PRIORITIES AND CONDUCTS SPECIAL "SWEEPS" TO TARGET ISSUES OF IMMEDIATE CONCERN. IN 2014, FINRA MEMBER REGULATION CONDUCTED NEARLY 2,500 REGULAR AND BRANCH OFFICE EXAMINATIONS AND OVER 7,000 TARGETED AND SWEEP REVIEWS AND EXAMINATIONS. 4C) ENFORCEMENT FEDERAL LAW GIVES FINRA THE AUTHORITY TO DISCIPLINE SECURITIES FIRMS AND INDIVIDUALS IN THE SECURITIES INDUSTRY WHO VIOLATE THE FEDERAL SECURITIES LAWS AND RULES AS WELL AS FINRA AND MUNICIPAL SECURITIES RULEMAKING BOARD (MSRB) RULES. THROUGH ITS ENFORCEMENT AND MARKET REGULATION DEPARTMENTS, FINRA BRINGS DISCIPLINARY ACTIONS AGAINST FIRMS AND THEIR EMPLOYEES THAT MAY RESULT IN SANCTIONS INCLUDING CENSURES, FINES, SUSPENSIONS AND, IN EGREGIOUS CASES, EXPULSIONS OR BARS FROM THE INDUSTRY. IN APPROPRIATE CASES, FINRA WILL REQUIRE FIRMS AND INDIVIDUALS TO PROVIDE RESTITUTION TO HARMED INVESTORS AND OFTEN IMPOSES OTHER CONDITIONS ON A FIRM'S BUSINESS TO PREVENT REPEATED WRONGDOING. IN 2014, FINRA BROUGHT 1,397 DISCIPLINARY ACTIONS AGAINST REGISTERED INDIVIDUALS AND FIRMS AND LEVIED FINES TOTALING MORE THAN $134 MILLION. IN ADDITION, FINRA EXPELLED 18 FIRMS FROM THE SECURITIES INDUSTRY, SUSPENDED 5 FIRMS, BARRED 481 INDIVIDUALS AND SUSPENDED 705 BROKERS FROM ASSOCIATION WITH FINRA-REGULATED FIRMS. 4D) OFFICE OF FRAUD DETECTION AND MARKET INTELLIGENCE FINRA'S OFFICE OF FRAUD DETECTION AND MARKET INTELLIGENCE (OFDMI)PROVIDES A HEIGHTENED AND EXPEDITED REVIEW OF ALLEGATIONS OF SERIOUS FRAUDS, A CENTRALIZED POINT OF CONTACT INTERNALLY AND EXTERNALLY ON FRAUD ISSUES, AND CONSOLIDATES RECOGNIZED EXPERTISE IN EXPEDITED FRAUD DETECTION AND INVESTIGATION. IN ADDITION, THIS DEPARTMENT IS RESPONSIBLE FOR CONDUCTING INSIDER-TRADING AND FRAUD SURVEILLANCE FOR ALL OTC, NASDAQ-, NYSE AND NYSE AMEX-, LISTED ISSUES ACROSS ALL U.S. EXCHANGES. THE DEPARTMENT HOUSES THE CENTRAL REVIEW GROUP WHICH IS RESPONSIBLE FOR THE TRIAGE REVIEW OF COMPLAINTS AND BROKER-DEALER FILINGS. OFDMI ALSO OVERSEES FINRA'S WHISTLEBLOWER PROGRAM. IN 2014, THE CENTRAL REVIEW GROUP REVIEWED OVER 26,000 FILINGS, COMPLAINTS, TIPS AND ARBITRATION-RELATED MATTERS. THE INSIDER TRADING SURVEILLANCE, FRAUD SURVEILLANCE AND WHISTLEBLOWER UNITS CONDUCTED INVESTIGATIONS WHICH RESULTED IN OVER 725 REFERRALS TO THE SEC, OTHER FEDERAL AND STATE LAW ENFORCEMENT AGENCIES OR OTHER INTERNAL FINRA DEPARTMENTS. THESE REFERRALS INVOLVED INSIDER TRADING, MICROCAP FRAUD, PONZI-TYPE SCHEMES, ELDER FINANCIAL ABUSE, ANTI-MONEY LAUNDERING REQUIREMENTS OR OTHER POTENTIAL VIOLATIONS OF FEDERAL LAWS, STATE REGULATIONS OR FINRA RULES. 4E) REGISTRATION AND DISCLOSURE ANY PERSON ENGAGED IN THE SECURITIES BUSINESS OF THE FIRM INCLUDING PARTNERS, OFFICERS, DIRECTORS, BRANCH MANAGERS, DEPARTMENT SUPERVISORS AND SALESPERSONS MUST REGISTER WITH FINRA. THROUGH ITS REGISTRATION AND DISCLOSURE DEPARTMENT, FINRA OPERATES CRD, THE CENTRAL LICENSING AND REGISTRATION SYSTEM FOR THE U.S. SECURITIES INDUSTRY AND ITS REGULATORS. IT ALSO OPERATES THE INVESTMENT ADVISER REGISTRATION DEPOSITORY ON BEHALF OF THE SEC. THESE SYSTEMS CONTAIN THE REGISTRATION RECORDS OF MORE THAN 4,100 FINRA AND OTHER REGISTERED BROKER-DEALERS AND MORE THAN 29,000 INVESTMENT ADVISERS, AND THE QUALIFICATION, EMPLOYMENT, AND DISCLOSURE HISTORIES OF MORE THAN 638,000 ACTIVE REGISTERED INDIVIDUALS, MAKING IT ONE OF THE LARGEST AND MOST SOPHISTICATED ONLINE REGISTRATION AND REPORTING SYSTEMS. FINRA ALSO OPERATES THE BROKERCHECK PROGRAM, AN ONLINE SYSTEM FOR INVESTORS TO CHECK OUT THE BACKGROUNDS OF INVESTMENT PROFESSIONALS. BROKERCHECK CONTAINS RECORDS ON 1.28 MILLION CURRENT AND FORMER BROKERS AND OVER 20,000 CURRENT AND FORMER BROKER-DEALERS. |
| FORM 990, PART VI, LINE 2 | ROBERT L. D. COLBY AND GARY H. STERN HAD A BUSINESS RELATIONSHIP DURING 2014 AS THEY SERVED TOGETHER ON THE BOARD OF THE DEPOSITORY TRUST CLEARING CORPORATION. |
| FORM 990, PART VI, LINE 6 | FINRA IS THE SOLE NOT-FOR-PROFIT STOCKHOLDER OF FINRA REGULATION, INC. |
| FORM 990, PART VI, LINE 7A | FINRA, THE SOLE NOT-FOR-PROFIT STOCKHOLDER, ELECTS ALL MEMBERS OF THE GOVERNING BODY. |
| FORM 990, PART VI, LINE 7B | FINRA, THE SOLE NOT-FOR-PROFIT STOCKHOLDER, RETAINS THE FOLLOWING AUTHORITY AND FUNCTIONS: 1) TO EXERCISE OVERALL RESPONSIBILITY FOR ENSURING THAT THE ASSOCIATION'S STATUTORY AND SELF-REGULATORY OBLIGATIONS AND FUNCTIONS ARE FULFILLED. 2) TO DELEGATE AUTHORITY TO THE SUBSIDIARIES TO TAKE ACTIONS ON BEHALF OF THE ASSOCIATION. 3) TO ELECT THE SUBSIDIARY BOARDS OF DIRECTORS. 4) TO REVIEW THE RULEMAKING AND DISCIPLINARY DECISIONS OF THE SUBSIDIARIES. 5) TO COORDINATE ACTIONS OF THE SUBSIDIARY BOARDS AS NECESSARY. 6) TO RESOLVE ANY DISPUTES AMONG THE SUBSIDIARIES. 7) TO ADMINISTER COMMON OVERHEAD AND TECHNOLOGY OF THE SUBSIDIARIES. 8) TO ADMINISTER THE OFFICE OF INTERNAL REVIEW AS PROVIDED IN THE ASSOCIATION'S BY-LAWS. 9) TO MANAGE EXTERNAL ASSOCIATION RELATIONS ON MAJOR POLICY ISSUES. 10) TO DIRECT THE SUBSIDIARIES TO TAKE ACTION NECESSARY TO EFFECTUATE THE PURPOSES AND FUNCTIONS OF THE ASSOCIATION. 11) TO TAKE ACTION AB INITIO IN AN AREA OF RESPONSIBILITY DELEGATED TO SUBSIDIARIES. |
| FORM 990, PART VI, LINE 11B | THE FORM 990 WAS REVIEWED BY SENIOR MANAGEMENT AT VARIOUS STEPS THROUGHOUT THE PREPARATION CYCLE. THE AUDIT AND MANAGEMENT COMPENSATION COMMITTEES REVIEWED AND APPROVED THE ORGANIZATION'S 2014 FORM 990 ON NOVEMBER 3, 2015. THE BOARD WAS PROVIDED ACCESS TO THE FINAL FORM 990 FOR REVIEW (VIA A WEBSITE FOR BOARD MEMBERS ONLY) PRIOR TO FILING. |
| FORM 990, PART VI, LINE 12C | THE ORGANIZATION HAS WRITTEN CONFLICT OF INTEREST POLICIES FOR BOARD MEMBERS AND EMPLOYEES. THE WRITTEN CONFLICT OF INTEREST POLICY FOR BOARD MEMBERS REQUIRES INITIAL DISCLOSURE OF INTERESTS THAT COULD GIVE RISE TO CONFLICTS AS WELL AS ANNUAL DISCLOSURE BY THE SAME BOARD MEMBERS. ADDITIONALLY, THE WRITTEN POLICY CONTAINS AN ONGOING OBLIGATION OF BOARD MEMBERS TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST AS THEY ARISE. FINRA'S CODE OF CONDUCT APPLIES TO ALL EMPLOYEES OF FINRA AND DEFINES THE EXPECTATION OF EVERYONE WHO ACTS ON FINRA'S BEHALF. THE CODE INCLUDES A WRITTEN CONFLICT OF INTEREST POLICY THAT PRECLUDES EMPLOYEES FROM HAVING A DIRECT OR INDIRECT INTEREST IN OR RELATIONSHIP WITH ANY ORGANIZATION WHERE THESE INTERESTS COULD CONCEIVABLY: A) HINDER FINRA'S OBJECTIVITY, INDEPENDENCE OR JUDGMENT OR CONDUCT IN CARRYING OUT FINRA'S RESPONSIBILITIES OR B) CREATE THE APPEARANCE OF A CONFLICT. EMPLOYEES HAVE AN ONGOING RESPONSIBILITY TO REPORT CONFLICTS UNDER THE CODE AND MUST CERTIFY COMPLIANCE WITH THE CODE OF CONDUCT WITHIN 30 DAYS OF HIRE AND ANNUALLY THEREAFTER. EMPLOYEES ARE REGULARLY REMINDED OF THE RESOURCES THAT ARE AVAILABLE WHEN THEY ARE UNSURE WHAT TO DO. IN ADDITION TO TALKING TO DEPARTMENTAL MANAGEMENT, EMPLOYEES CAN DISCUSS CONFLICT-RELATED CONCERNS WITH FINRA'S OFFICE OF GENERAL COUNSEL. IF THEY ARE UNCOMFORTABLE DISCLOSING AN ISSUE AND DISCLOSING THEIR IDENTITY, THEY CAN USE FINRA'S 24-HOUR ETHICSPOINT HOTLINE TO POSE QUESTIONS OR REPORT CONCERNS. FINRA'S WHISTLEBLOWER POLICY FORBIDS RETALIATION AGAINST EMPLOYEES WHO REPORT SUSPECTED MISCONDUCT IN GOOD FAITH, EVEN IF THE REPORT ULTIMATELY PROVES TO BE ERRONEOUS. |
| FORM 990, PART VI, LINES 15A AND 15B | THE MANAGEMENT COMPENSATION COMMITTEE OF THE FINRA BOARD OF GOVERNORS (THE "COMMITTEE") IS RESPONSIBLE FOR SETTING PAY FOR EXECUTIVES OF FINRA AND SUBSIDIARIES WHOSE TOTAL COMPENSATION, INCLUDING INCENTIVE COMPENSATION, MAY EXCEED $1 MILLION. THE COMMITTEE IS COMPRISED OF FOUR NON-EMPLOYEE, NON-SECURITIES INDUSTRY MEMBERS OF THE BOARD OF GOVERNORS. THE COMMITTEE MET ON JANUARY 30, 2014 AND FEBRUARY 12, 2014 TO ESTABLISH INCENTIVE COMPENSATION ATTRIBUTABLE TO THE PERFORMANCE OF SERVICES DURING CALENDAR YEAR 2013 AND TO ESTABLISH BASE SALARIES FOR CALENDAR YEAR 2014. AS A GENERAL POLICY, FINRA HAS DETERMINED ITS COMPETITIVE COMPENSATION POSITIONING SHOULD BE CONSIDERED AGAINST A BROAD SECTION OF FINANCIAL SERVICES/CAPITAL MARKET COMPANIES, AS THIS SECTOR IS THE MOST LIKELY FROM WHICH WE RECRUIT TALENT AND THAT WOULD RECRUIT TALENT AWAY FROM THE COMPANY. WE ALSO BENCHMARK AGAINST GENERAL INDUSTRY POSITIONS AND LAW DEPARTMENTS FOR JOBS THAT ARE NOT UNIQUE TO THE FINANCIAL SERVICES INDUSTRY. THE COMMITTEE ENGAGED MERCER, INC. ("MERCER"), A THIRD-PARTY COMPENSATION CONSULTANT, TO PREPARE A COMPENSATION STUDY FOR REVIEW AT THESE MEETINGS. IN DETERMINING A BENCHMARKING STRATEGY FOR KEY EXECUTIVES, FINANCIAL SERVICES ORGANIZATIONS (BROKER-DEALERS, INVESTMENT BANKS, FEDERAL RESERVE BANKS, COMMERCIAL BANKS, INSURANCE COMPANIES, EXCHANGES AND REGULATORS) WERE DETERMINED TO BE THE MOST RELEVANT GROUPS FOR COMPARISON PURPOSES. THE COMMITTEE AND MERCER ENGAGED IN SUBSTANTIAL RESEARCH AND CONSIDERATION OF THE FUNCTIONS AND OPERATIONS OF SEVERAL POTENTIAL COMPARATORS AS WELL AS GENERAL COMPETITIVE CONDITIONS. IN DETERMINING SPECIFIC SALARY AND INCENTIVE COMPENSATION LEVELS FOR OFFICERS AND KEY EMPLOYEES, MANAGEMENT AND THE COMMITTEE CONSIDER: 1) OPERATIONAL RESULTS 2) STRATEGIC INITIATIVES 3) FINANCIAL HEALTH/RESULTS 4) INDIVIDUAL PERFORMANCE 5) COMPETITIVE COMPENSATION LEVELS AS PREPARED BY MERCER, INC., A THIRD-PARTY COMPENSATION CONSULTANT THE COMMITTEE'S MINUTES OF THE JANUARY 30, 2014 AND FEBRUARY 12, 2014 MEETINGS WERE REVIEWED AND APPROVED AS ACCURATE AND COMPLETE FOLLOWING THE COMMITTEE'S APPROVAL OF THE SENIOR EXECUTIVE COMPENSATION PACKAGES. THE FULL BOARD FURTHER APPROVED THE 2013 INCENTIVE COMPENSATION OF THE CEO AT ITS MEETING ON FEBRUARY 12, 2014. ALL COMPENSATION COMMITTEE MEMBERS VOTED FOR THE PROPOSED LEVEL OF EXECUTIVE COMPENSATION. |
| FORM 990, PART VI, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND THE FINRA CONSOLIDATED AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. |
| FORM 990, PART VII, COLUMN B | THE OFFICERS / KEY EMPLOYEES LISTED IN FORM 990, PART VII, DEVOTE AN AVERAGE TOTAL OF 60 HOURS PER WEEK TO THE FILING ORGANIZATION AND ANY OR ALL OF THE FOLLOWING RELATED ORGANIZATIONS: FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FINRA DISPUTE RESOLUTION, INC., AND FINRA INVESTOR EDUCATION FOUNDATION. |
| FORM 990, PART XI, LINE 9 | OTHER CHANGES IN NET ASSETS OR FUND BALANCES PRIMARILY RELATE TO ANY OR ALL OF THE FOLLOWING: CHANGES IN NET INCOME/(LOSS), UNRECOGNIZED EMPLOYEE BENEFIT PLAN AMOUNTS AND UNREALIZED GAIN/(L0SS) ON INVESTMENTS. FOR ADDITIONAL INFORMATION PLEASE SEE THE FINRA 2014 ANNUAL FINANCIAL REPORT WHICH IS AVAILABLE @ WWW.FINRA.ORG. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|
| FINANCIAL IND REGULATORY AUTHORITY INC | |||||||||
| 1735 K STREET NW | WASHINGTON | DC | 20006 | 530088710 | REGULATORY | DE | 501(C)(6) | NA | false |
| FINRA DISPUTE RESOLUTION INC | |||||||||
| 1735 K STREET NW | WASHINGTON | DC | 20006 | 522187577 | ARBITRATION | DE | 501(C)(6) | FINRA | false |
| FINRA INVESTOR EDUCATION FOUNDATION | |||||||||
| 1735 K STREET NW | WASHINGTON | DC | 20006 | 200863779 | EDUCATION | DE | 501(C)(4) | FINRA | false |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |