FINRA REGULATION INC: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- FINRA REGULATION INC (EIN 52-1959501)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-11-06
- IRS object ID
- 201343109349301324
- Schema version
- 2012v2.1
- 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) |
|---|---|---|
| Timestamp | 2013-11-06T21:41:44-06:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ERNST & YOUNG US LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | TWO NORTH CENTRAL AVENUE STE 2300 | AddressLine1 |
| City | PHOENIX | City |
| State | AZ | State |
| ZIP Code | 85004 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521959501 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FINRA REGULATION INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of Name | % MARCIA E ASQUITH | InCareOfName |
| Name Control | FINA | NameControl |
| Phone | 2027288949 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1735 K STREET NW | AddressLine1 |
| Address Line2 | Suite | AddressLine2 |
| City | WASHINGTON | City |
| State | DC | State |
| ZIP Code | 200061506 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ROB RENNER | Name |
| Title | VP | Title |
| Date Signed | 2013-11-06 | DateSigned |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6023223000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | RICHARD G KETCHUM | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1735 K STREET NW | AddressLine1 |
| City | WASHINGTON | City |
| State | DC | State |
| ZIP Code | 200061506 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 722704984 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.FINRA.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1996 | YearFormation |
| State Legal Domicile | DE | StateLegalDomicile |
| Activity Or Mission Description | FINRA IS DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 12 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 5 | NbrIndependentVotingMembers |
| Total Nbr Employees | 2647 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 27020 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 2952 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 715806211 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 722575229 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 0 | InvestmentIncomePriorYear |
| Investment Income Current Year | -73452 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 166937 | OtherRevenuePriorYear |
| Other Revenue Current Year | 129755 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 715973148 | TotalRevenuePriorYear |
| Total Revenue Current Year | 722631532 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 257110 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 224100 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 383239255 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 428400588 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 420369477 | OtherExpensePriorYear |
| Other Expenses Current Year | 360938585 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 803865842 | TotalExpensesPriorYear |
| Total Expenses Current Year | 789563273 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -87892694 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -66931741 | RevenuesLessExpensesCY |
| Total Assets BOY | 19407982 | TotalAssetsBOY |
| Total Assets EOY | 33863456 | TotalAssetsEOY |
| Total Liabilities BOY | 418709363 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 479280769 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | -399301381 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | -445417313 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | FINRA IS DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Description | SEE SCHEDULE O | Description |
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | false | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | true | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | true | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | true | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | true | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | true | RelatedOrgControlledEntity |
| Transaction Related Entity | true | TransactionRelatedEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 79 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 2647 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 12 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 5 | NumberIndependentVotingMembers |
| Family Or Business Relationship | true | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | true | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | true | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | CA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | MARCIA E ASQUITH | NamePerson |
| Telephone Number | 2027288949 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1735 K STREET NW | AddressLine1 |
| City | WASHINGTON | City |
| State | DC | State |
| ZIP Code | 200061506 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (42 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|---|
| HARVEY J GOLDSCHMID | |||||||||
| CHAIR, REG POLICY COMMITTEE | 3.0 | X | 0 | 68915 | 0 | ||||
| JED BANDES | |||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | X | 0 | 60044 | 0 | ||||
| JOEL R BLUMENSCHEIN | |||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | X | 0 | 41305 | 0 | ||||
| CHARLES A BOWSHER | |||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | X | 0 | 69174 | 0 | ||||
| ELLYN L BROWN | |||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | X | 0 | 30130 | 0 | ||||
| MARK S CASADY | |||||||||
| REGULATORY POLICY COMMITTEE | 3.0 | X | 0 | 60441 | 0 | ||||
| W DENNIS FERGUSON | |||||||||
| REGULATORY POLICY COMMITTEE | 3.0 | X | 0 | 69159 | 0 | ||||
| DR SHIRLEY ANN JACKSON | |||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | X | 0 | 65000 | 0 | ||||
| KEN NORENSBERG | |||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | X | 0 | 61189 | 0 | ||||
| RICHARD S PECHTER | |||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | X | 0 | 72573 | 0 | ||||
| JOHN W SCHMIDLIN | |||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | X | 0 | 65417 | 0 | ||||
| JOEL SELIGMAN | |||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | X | 0 | 55066 | 0 | ||||
| KURT P STOCKER | |||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | X | 0 | 68033 | 0 | ||||
| JAMES D WEDDLE | |||||||||
| REGULATORY POLICY COMMITTEE | 2.0 | X | 0 | 69201 | 0 | ||||
| RICHARD G KETCHUM | |||||||||
| CEO | 60.0 | 0 | 2555454 | 74251 | X | ||||
| TODD T DIGANCI | |||||||||
| EXECUTIVE VP AND CFO | 60.0 | 0 | 1183826 | 62697 | X | ||||
| MARCIA E ASQUITH | |||||||||
| SENIOR VP AND CORP SECRETARY | 60.0 | 0 | 500175 | 88972 | X | ||||
| F GREGORY AHERN | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0 | 187131 | 113807 | X | ||||
| SUSAN F AXELROD | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 722386 | 0 | 141330 | X | ||||
| J BRADLEY BENNETT | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 877728 | 0 | 119977 | X | ||||
| T GRANT CALLERY | |||||||||
| EXEC VP AND GENERAL COUNSEL | 60.0 | 0 | 1364764 | 86222 | X | ||||
| MARTIN P COLBURN | |||||||||
| EXECUTIVE VP AND CTO | 60.0 | 0 | 803369 | 66937 | X | ||||
| ROBERT L D COLBY | |||||||||
| EVP & CHIEF LEGAL OFFICER | 60.0 | 0 | 262061 | 34997 | X | ||||
| JAMES J CUMMINGS | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0 | 923163 | 33473 | X | ||||
| LINDA D FIENBERG | |||||||||
| PRESIDENT - DISPUTE RESOLUTION | 60.0 | 0 | 877421 | 81552 | X | ||||
| SAMUEL H GAER | |||||||||
| EXEC VICE PRESIDENT & CIO | 60.0 | 0 | 703879 | 125356 | X | ||||
| THOMAS R GIRA | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 853494 | 0 | 114686 | X | ||||
| STEVEN A JOACHIM | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0 | 3075939 | 95673 | X | ||||
| TRACY B JOHNSON | |||||||||
| SENIOR VICE PRESIDENT | 60.0 | 0 | 535264 | 82300 | X | ||||
| DEREK W LINDEN | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 659729 | 0 | 79160 | X | ||||
| STEPHEN LUPARELLO | |||||||||
| VICE CHAIRMAN | 60.0 | 5281793 | 0 | 55075 | X | ||||
| MARC MENCHEL | |||||||||
| EXEC VP AND GENERAL COUNSEL | 60.0 | 3034006 | 0 | 218770 | X | ||||
| HOWARD M SCHLOSS | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0 | 3342009 | 361828 | X | ||||
| STEPHEN M SCHOENEMAN | |||||||||
| SENIOR VICE PRESIDENT | 60.0 | 0 | 603575 | 124702 | X | ||||
| THOMAS M SELMAN | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 688191 | 0 | 66923 | X | ||||
| GRACE B VOGEL | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 845547 | 0 | 161806 | X | ||||
| GENE G DEMAIO | |||||||||
| SENIOR VICE PRESIDENT | 60.0 | 625548 | 0 | 48318 | X | ||||
| CAMERON K FUNKHOUSER | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 672298 | 0 | 106144 | X | ||||
| JOHN F MALITZIS | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 678473 | 0 | 114415 | X | ||||
| ROBERT A MARCHMAN | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 673927 | 0 | 139123 | X | ||||
| DANIEL M SIBEARS | |||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 693439 | 0 | 105575 | X | ||||
| JAMES P DONOVAN | |||||||||
| SENIOR EXECUTIVE VICE PRES | 0 | 132692 | 0 | X | |||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 16306559 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 17906369 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 2904069 | TotalOtherCompensation |
| Number Individuals GT100 K | 1327 | NumberIndividualsGT100K |
| Formers Listed | true | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| PROMETRIC | |||||
| PO BOX 223608 | PITTSBURGH | PA | 15251 | TESTING SERVICES | 17361493 |
| NCS PEARSON INCORPORATED | |||||
| 21866 NETWORK PLACE | CHICAGO | IL | 60673 | TESTING SERVICES | 8043682 |
| KINETIX TECHNOLOGY PARTNERS INC | |||||
| 46643 WINTERSET COURT | POTOMAC FALLS | VA | 20165 | TECH. CONSULTING | 1098425 |
| TIGER TEAM CONSULTING | |||||
| 11781 LEE JACKSON MEMORIAL HWY | FAIRFAX | VA | 22033 | TECH. CONSULTING | 965365 |
| MORETAB CONSULTING | |||||
| 1109 ANDROMEDIA WAY | ARLINGTON | TX | 76013 | TECH. CONSULTING | 769664 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 26 | NumberOfContractorsGT100K |
| Total Contributions | 0 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| REGULATORY FEES | 900099 | 407634855 | 407634855 | |
| USER FEES | 900099 | 160268835 | 160241815 | 27020 |
| CONTRACT SERVICE FEES | 900099 | 85486849 | 85486849 | |
| FINES | 900099 | 69097651 | 69097651 | |
| ALL OTHER PROGRAM SERVICE REVENUE | 900099 | 87039 | 87039 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 722575229 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 129755 | TotalRevenueColumn |
| Exclusion | $129,755 | ExclusionAmount |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 73452 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -73452 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -73452 | TotalRevenueColumn |
| Exclusion | -$73,452 | ExclusionAmount |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 0 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 722631532 | TotalRevenueColumn |
| Related Or Exempt Function Income | 722548209 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 27020 | UnrelatedBusinessRevenue |
| Exclusion | $56,303 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | X | InfoInScheduleOPartIX |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 224100 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7994659 | Total |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 321465262 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 54607438 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 23994924 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 20338305 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1403530 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 973579 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 78000 | Total |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 26168296 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 13800 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4432036 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 68344790 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 35257641 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 12975480 | Total |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2119285 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8315002 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| OVERHEAD ALLOCATION | 196185652 |
| TEMPORARY HELP | 1075936 |
| BAD DEBT EXPENSE | 2497364 |
| PUBLICATIONS/PRINTING | 294992 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 803202 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 789563273 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -1402639 | BOY |
| EOY | -1180915 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10917777 | BOY |
| EOY | 30675378 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 511897 | BOY |
| EOY | 343399 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 183715974 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 180043494 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7359398 | BOY |
| EOY | 3672480 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 547057 | BOY |
| EOY | 353114 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1474492 | BOY |
| EOY | 0 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19407982 | BOY |
| EOY | 33863456 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 357136261 | BOY |
| EOY | 400425017 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 61573102 | BOY |
| EOY | 78855752 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 418709363 | BOY |
| EOY | 479280769 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 350000 | BOY |
| EOY | 350000 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50000000 | BOY |
| EOY | 50000000 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -449651381 | BOY |
| EOY | -495767313 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -399301381 | BOY |
| EOY | -445417313 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19407982 | BOY |
| EOY | 33863456 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -68657119 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 22541187 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | true | AuditCommittee |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts | |
| Current Year Minus3 Years | CurrentYearMinus3Years | |
| Current Year Minus4 Years | CurrentYearMinus4Years | |
| Land | Land | |
| Buildings | Buildings |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 26840120 | OtherCostOrOtherBasis |
| Depreciation | 26269452 | Depreciation |
| Book Value | 570669 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 9476001 | OtherCostOrOtherBasis |
| Depreciation | 7903970 | Depreciation |
| Book Value | 1572031 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 147399852 | OtherCostOrOtherBasis |
| Depreciation | 145870073 | Depreciation |
| Book Value | 1529780 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 3672480 | TotalOfBookValueLandBuildings |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
| Total Of Amounts | 0 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | ASC 740 FOOTNOTE FROM CONSOLIDATED AUDITED FINANCIAL STATEMENTS | Identifier |
| Return Reference | SCHEDULE D, PART X, LINE 2 | ReturnReference |
| Explanation | 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 2009 TO 2012, 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. | Explanation |
Schedule F IRS990ScheduleF
Grants To Orgs Outside US GrantsToOrgsOutsideUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | North America | Region |
| Purpose Of Grant | 2012 SPONSOR | PurposeOfGrant |
| Amount Of Cash Grant | 15000 | AmountOfCashGrant |
| Manner Of Cash Disbursement | CHECK | MannerOfCashDisbursement |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Number Of501c3 Orgs | 0 | TotalNumberOf501c3Orgs |
| Total Number Of Other Orgs | 1 | TotalNumberOfOtherOrgs |
| Transfer To Foreign Corp | false | TransferToForeignCorp |
| Interest In Foreign Trust | false | InterestInForeignTrust |
| Own Foreign Corp | false | OwnForeignCorp |
| Passive Foreign Invest Co | false | PassiveForeignInvestCo |
| Foreign Partnership | false | ForeignPartnership |
| Boycott Countries | false | BoycottCountries |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Recipient Table RecipientTable (8 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EIN Of RecipientEINOfRecipient | IRC SectionIRCSection | Amount Of Cash GrantAmountOfCashGrant | Purpose Of GrantPurposeOfGrant |
|---|---|---|---|---|---|---|---|
| APPLESEED FOUNDATION INC | |||||||
| 727 15TH STREET NW | WASHINGTON | DC | 20005 | 521835698 | 501(C)(3) | 10000 | AWARDS DINNER |
| AUTISM SPEAKS | |||||||
| 1 E 33RD STREET | NEW YORK | NY | 10016 | 202329938 | 501(C)(3) | 15000 | AWARDS DINNER |
| COUNCIL FOR ECONOMIC EDUCATION | |||||||
| 122 E 42ND STREET | NEW YORK | NY | 10168 | 131623848 | 501(C)(3) | 10000 | AWARDS DINNER |
| EMPLOYEE BENEFIT RESEARCH INSTITUTE | |||||||
| 1100 13TH STREET NW | WASHINGTON | DC | 20005 | 521190398 | 501(C)(3) | 57500 | 2012/2013 CONTR. |
| JUMPSTART COALITION FOR PERSONAL LITERACY | |||||||
| 919 18TH STREET NW | WASHINGTON | DC | 20006 | 522031287 | 501(C)(3) | 10000 | AWARDS DINNER |
| SEC HISTORICAL SOCIETY | |||||||
| 1101 PENNSYLVANIA AVE | WASHINGTON | DC | 20004 | 522213646 | 501(C)(3) | 15000 | AWARDS DINNER |
| SECURITIES INDUSTRY & FINANCIAL MARKETS | |||||||
| 120 BROADWAY | NEW YORK | NY | 10271 | 521087193 | 501(C)(3) | 10000 | AWARDS DINNER |
| TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA | |||||||
| 3620 LOCUST WALK | PHILADELPHIA | PA | 19104 | 522213646 | 501(C)(3) | 20000 | 2012/2013 CONTR. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 8 | TotalNbrOf501C3AndGovtGrants |
Form990 Schedule I Part IV Form990ScheduleIPartIV (2 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| Form 990, Schedule I | VOLUNTARY DISCLOSURE FOR APPLESEED FOUNDATION CONTRIBUTION DURING 2012: RICHARD G. KETCHUM, FINRA CEO, SERVED AS A BOARD MEMBER OF THE APPLESEED FOUNDATION. | |
| OVERSIGHT AND RECORDKEEPING OF CONTRIBUTIONS | CHARITABLE CONTRIBUTIONS ARE REVIEWED AND APPROVED BY THE APPROPRIATE BUSINESS UNIT HEAD (OR THEIR DESIGNEE). THE ORGANIZATION MAINTAINS ADEQUATE RECORDS TO SUBSTANTIATE THE AMOUNT AND THE PURPOSE OF THE CHARITABLE CONTRIBUTIONS. | SCHEDULE I, PART I, LINE 2 |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | X | FirstClassOrCharterTravel |
| Travel For Companions | X | TravelForCompanions |
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Personal Services | X | PersonalServices |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | true | SeverancePayment |
| Supplemental Nonqual Retire Plan | true | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (28 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD G KETCHUM | ||||||||||||||
| CEO | 0 | 978164 | 0 | 1250000 | 0 | 327290 | 0 | 47607 | 0 | 26644 | 0 | 2629705 | 0 | 0 |
| TODD T DIGANCI | ||||||||||||||
| EXECUTIVE VP AND CFO | 0 | 475476 | 0 | 680000 | 0 | 28350 | 0 | 35603 | 0 | 27094 | 0 | 1246523 | 0 | 0 |
| MARCIA E ASQUITH | ||||||||||||||
| SENIOR VP AND CORP SECRETARY | 0 | 236093 | 0 | 240000 | 0 | 24082 | 0 | 69500 | 0 | 19472 | 0 | 589147 | 0 | 0 |
| F GREGORY AHERN | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 0 | 75589 | 0 | 0 | 0 | 111542 | 0 | 108462 | 0 | 5345 | 0 | 300938 | 0 | 0 |
| SUSAN F AXELROD | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 346306 | 0 | 375000 | 0 | 1080 | 0 | 103160 | 0 | 38170 | 0 | 863716 | 0 | 0 | 0 |
| J BRADLEY BENNETT | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 416754 | 0 | 435000 | 0 | 25974 | 0 | 115401 | 0 | 4576 | 0 | 997705 | 0 | 0 | 0 |
| T GRANT CALLERY | ||||||||||||||
| EXEC VP AND GENERAL COUNSEL | 0 | 285299 | 0 | 310000 | 0 | 769465 | 0 | 67262 | 0 | 18960 | 0 | 1450986 | 0 | 0 |
| MARTIN P COLBURN | ||||||||||||||
| EXECUTIVE VP AND CTO | 0 | 381850 | 0 | 400000 | 0 | 21519 | 0 | 34017 | 0 | 32920 | 0 | 870306 | 0 | 0 |
| ROBERT L D COLBY | ||||||||||||||
| EVP & CHIEF LEGAL OFFICER | 0 | 240202 | 0 | 0 | 0 | 21859 | 0 | 27500 | 0 | 7497 | 0 | 297058 | 0 | 0 |
| JAMES J CUMMINGS | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 0 | 73912 | 0 | 220000 | 0 | 629251 | 0 | 24456 | 0 | 9017 | 0 | 956636 | 0 | 0 |
| JAMES P DONOVAN | ||||||||||||||
| SENIOR EXECUTIVE VICE PRES | 0 | 0 | 0 | 0 | 0 | 132692 | 0 | 0 | 0 | 0 | 0 | 132692 | 0 | 132692 |
| LINDA D FIENBERG | ||||||||||||||
| PRESIDENT - DISPUTE RESOLUTION | 0 | 437680 | 0 | 400000 | 0 | 39741 | 0 | 62263 | 0 | 19289 | 0 | 958973 | 0 | 0 |
| SAMUEL H GAER | ||||||||||||||
| EXEC VICE PRESIDENT & CIO | 0 | 193756 | 0 | 500000 | 0 | 10123 | 0 | 115359 | 0 | 9997 | 0 | 829235 | 0 | 0 |
| THOMAS R GIRA | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 391693 | 0 | 455000 | 0 | 6801 | 0 | 73047 | 0 | 41639 | 0 | 968180 | 0 | 0 | 0 |
| STEVEN A JOACHIM | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 0 | 345172 | 0 | 410000 | 0 | 2320767 | 0 | 57022 | 0 | 38651 | 0 | 3171612 | 0 | 710560 |
| TRACY B JOHNSON | ||||||||||||||
| SENIOR VICE PRESIDENT | 0 | 291345 | 0 | 225000 | 0 | 18919 | 0 | 72683 | 0 | 9617 | 0 | 617564 | 0 | 0 |
| DEREK W LINDEN | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 328933 | 0 | 315000 | 0 | 15796 | 0 | 49027 | 0 | 30133 | 0 | 738889 | 0 | 0 | 0 |
| STEPHEN LUPARELLO | ||||||||||||||
| VICE CHAIRMAN | 463890 | 0 | 690000 | 0 | 4127903 | 0 | 31309 | 0 | 23766 | 0 | 5336868 | 0 | 0 | 0 |
| MARC MENCHEL | ||||||||||||||
| EXEC VP AND GENERAL COUNSEL | 179797 | 0 | 400000 | 0 | 2454209 | 0 | 196102 | 0 | 22668 | 0 | 3252776 | 0 | 0 | 0 |
| HOWARD M SCHLOSS | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 0 | 301920 | 0 | 300000 | 0 | 2740089 | 0 | 338761 | 0 | 23067 | 0 | 3703837 | 0 | 272139 |
| STEPHEN M SCHOENEMAN | ||||||||||||||
| SENIOR VICE PRESIDENT | 0 | 315608 | 0 | 265000 | 0 | 22967 | 0 | 93251 | 0 | 31451 | 0 | 728277 | 0 | 0 |
| THOMAS M SELMAN | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 330745 | 0 | 335000 | 0 | 22446 | 0 | 41419 | 0 | 25504 | 0 | 755114 | 0 | 0 | 0 |
| GRACE B VOGEL | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 349987 | 0 | 475000 | 0 | 20560 | 0 | 122178 | 0 | 39628 | 0 | 1007353 | 0 | 0 | 0 |
| GENE G DEMAIO | ||||||||||||||
| SENIOR VICE PRESIDENT | 277904 | 0 | 205000 | 0 | 142644 | 0 | 21234 | 0 | 27084 | 0 | 673866 | 0 | 0 | 0 |
| CAMERON K FUNKHOUSER | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 310095 | 0 | 340000 | 0 | 22203 | 0 | 77012 | 0 | 29132 | 0 | 778442 | 0 | 0 | 0 |
| JOHN F MALITZIS | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 325951 | 0 | 350000 | 0 | 2522 | 0 | 95964 | 0 | 18451 | 0 | 792888 | 0 | 0 | 0 |
| ROBERT A MARCHMAN | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 322285 | 0 | 330000 | 0 | 21642 | 0 | 106127 | 0 | 32996 | 0 | 813050 | 0 | 0 | 0 |
| DANIEL M SIBEARS | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | 367995 | 0 | 300000 | 0 | 25444 | 0 | 60791 | 0 | 44784 | 0 | 799014 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| 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. IN DETERMINING SALARIES AND INCENTIVE PAY, THE COMMITTEE RELIED ON A THIRD-PARTY COMPENSATION STUDY PERFORMED BY MERCER, INC. THAT COMPARED FINRA EXECUTIVES TO INDUSTRY BENCHMARKING DATA AMONG OTHER FACTORS (SEE ADDITIONAL INFORMATION BELOW). 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 15, 2012 AND FEBRUARY 15, 2012 TO ESTABLISH INCENTIVE COMPENSATION ATTRIBUTABLE TO THE PERFORMANCE OF SERVICES DURING CALENDAR YEAR 2011 AND TO ESTABLISH BASE SALARIES FOR CALENDAR YEAR 2012. 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 TALENT IS RECRUITED FROM US. 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 THE COMMITTEE'S MINUTES OF THE JANUARY 18, 2012 AND FEBRUARY 15, 2012 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 2011 INCENTIVE COMPENSATION OF THE CEO AT ITS MEETING ON FEBRUARY 16, 2012. ALL COMPENSATION COMMITTEE MEMBERS VOTED FOR THE PROPOSED LEVEL OF EXECUTIVE COMPENSATION. FINRA OFFERS TWO NON-QUALIFIED SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS. 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. 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. ADDITIONAL INFORMATION CONCERNING FINRA'S RETIREMENT PLANS AND OTHER PARTICIPANTS IS PROVIDED BELOW. 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. INCLUDING CANADA AND MEXICO, WHERE THE FLIGHT TIME IS OVER FOUR HOURS DIRECT. IT IS ALSO ALLOWED FOR ALL TRAVEL FROM THE U.S. MAINLAND TO HAWAII AND FOR FLIGHTS WITHIN EUROPE THAT ARE OVER FOUR HOURS IN DURATION. OTHERWISE, ECONOMY CLASS IS REQUIRED. TRAVEL FOR COMPANIONS: IN LIEU OF A WEEKEND TRIP HOME, A COMPANION MAY FLY TO MEET AN EMPLOYEE ON AN EXTENDED STAY AT HIS OR HER REMOTE WORK LOCATION. AIRLINE TICKETS FOR WEEKEND COMPANIONS MUST BE FOR DOMESTIC FLIGHTS, AND MUST BE PURCHASED WITH A PERSONAL CREDIT CARD. THE EMPLOYEE WILL RECEIVE REIMBURSEMENT NOT TO EXCEED WHAT THE COST OF A TICKET TO FLY THE EMPLOYEE HOME FOR THE WEEKEND WOULD HAVE BEEN. FINRA WILL NOT REIMBURSE EMPLOYEES FOR COMPANION TRAVEL TO INTERNATIONAL LOCATIONS. 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 DEPARTMENT DIRECTOR 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. 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. 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. 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. | |
| SUPPLEMENTAL COMPENSATION INFORMATION | 4A) IN CONNECTION WITH JAMES P. DONOVAN'S SEPARATION FROM FINRA, HE WAS PAID $132,692 IN 2012. IN CONNECTION WITH STEPHEN LUPARELLO'S SEPARATION FROM FINRA, HE WAS PAID $300,000 IN 2012. IN CONNECTION WITH MARC MENCHEL'S SEPARATION FROM FINRA REGULATION, INC. HE WAS PAID $223,467 IN 2012. IN CONNECTION WITH HOWARD M. SCHLOSS' SEPARATION FROM FINRA, HE WAS PAID $124,615 IN 2012. 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 2012 INCLUDE: STEVEN A. JOACHIM - $2,297,398 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, COMPENSATION LEVELS AND PAY GRADE, AGE AT SEPARATION, AND PREVIOUS VESTING EVENTS. THE LISTED INDIVIDUALS SERVED BETWEEN 10 AND 33 YEARS, MOST RECENTLY AT PAY GRADES RANGING FROM EXECUTIVE VICE PRESIDENT TO VICE CHAIRMAN: T. GRANT CALLERY - $716,383 JAMES J. CUMMINGS - $589,212 STEPHEN LUPARELLO - $3,784,410 MARC MENCHEL - $2,203,681 HOWARD M. SCHLOSS - $2,565,135 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 2012 INCLUDE: GENE G. DEMAIO - $141,374 RICHARD G. KETCHUM - $292,594 PARTICIPANTS IN THE SUPPLEMENTAL NON-QUALIFIED DEFINED CONTRIBUTION BENEFIT PLAN THAT HAD A GROSS TAXABLE PAYOUT INCLUDE: NONE | SCHEDULE J, PART I, LINES 4A AND 4B |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (6 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| NYSE EURONEXTNYSE REGULATION | |||
| SCHEDULE L, PART V | 63416286 | SCHEDULE L, PART V | false |
| EDWARD JONES | |||
| SCHEDULE L, PART V | 24901021 | SCHEDULE L, PART V | false |
| LPL FINANCIAL | |||
| SCHEDULE L, PART V | 18289325 | SCHEDULE L, PART V | false |
| STERNE AGEE LEACH | |||
| SCHEDULE L, PART V | 1411582 | SCHEDULE L, PART V | false |
| UVEST FINANCIAL SERVICES GROUP | |||
| SCHEDULE L, PART V | 423778 | SCHEDULE L, PART V | false |
| STERNE AGEE FINANCIAL SERVICES | |||
| SCHEDULE L, PART V | 418120 | SCHEDULE L, PART V | false |
Form990 Schedule L Part V Form990ScheduleLPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | BUSINESS TRANSACTIONS INVOLVING INTERESTED PARTIES | Identifier |
| Return Reference | SCHEDULE L, PART IV | ReturnReference |
| Explanation | FINRA'S BYLAWS DO NOT CLASSIFY DIRECTORS AS INDEPENDENT OR NOT INDEPENDENT. AS A SELF-REGULATORY ORGANIZATION, BOARD MEMBERS ARE CLASSIFIED AS "PUBLIC" OR "INDUSTRY" AND A MAJORITY OF THE BOARD MUST ALWAYS MEET THE "PUBLIC" DEFINITION. ADDITIONALLY, ANY TRANSACTIONS WITH COMPANIES THAT EMPLOY A BOARD MEMBER, OR FOR WHICH A BOARD MEMBER MAY SERVE AS A MEMBER OF ITS DIRECTORATE, INCLUDING THOSE LISTED BELOW, WERE CONDUCTED IN THE ORDINARY COURSE OF BUSINESS AND DO NOT REFLECT SPECIAL ARRANGEMENTS BETWEEN INTERESTED PARTIES. HOWEVER, THE IRS DEFINITION OF AN INDEPENDENT VOTING MEMBER OF A GOVERNING BODY IS SPECIFIC TO THE FORM 990, AND APPLIES A CIRCUMSTANCES-BASED APPROACH FOCUSING ON COMPENSATION AS AN EMPLOYEE, COMPENSATION AS AN INDEPENDENT CONTRACTOR (EXCLUSIVE OF REASONABLE COMPENSATION FOR SERVING ON THE BOARD), AND A DOLLAR THRESHOLD FOR PAYMENTS MADE TO OR RECEIVED FROM ANOTHER ORGANIZATION IN THE ORDINARY COURSE OF BUSINESS. PLEASE SEE PAGE 19 OF THE 2012 FORM 990 INSTRUCTIONS FOR THE COMPLETE IRS DEFINITION. DURING TAX YEAR 2012, OR A PORTION THEREOF: ELLYN L. BROWN WAS A MEMBER OF THE BOARDS OF NYSE EURONEXT AND NYSE REGULATION, AND A MEMBER OF THE FINRA REGULATION, INC. BOARD OF DIRECTORS. NYSE RELATED ORGANIZATIONS PAID FINRA REGULATION, INC. $59,790,967 IN REGULATORY FEES. FINRA REGULATION, INC. PAID NYSE RELATED ORGANIZATIONS $358,814 FOR TRANSITION AND SUPPORT SERVICES AND $3,266,505 FOR PASS-THROUGH FINES COLLECTED BY FINRA REGULATION, INC. AND REMITTED TO NYSE. MARK S. CASADY WAS THE CHAIRMAN AND CEO OF LPL FINANCIAL AND A MEMBER OF THE FINRA REGULATION, INC. BOARD OF DIRECTORS. LPL FINANCIAL PAID FINRA REGULATION, INC. $18,289,325 FOR REGULATORY SERVICES. MARK S. CASADY WAS A MEMBER OF THE BOARD OF UVEST FINANCIAL SERVICES GROUP AND A MEMBER OF THE FINRA REGULATION INC. BOARD OF DIRECTORS. UVEST FINANCIAL SERVICES GROUP WAS A WHOLLY OWNED SUBSIDIARY OF LPL FINANCIAL OF WHICH MARK S. CASADY WAS THE CHAIRMAN AND CEO. UVEST FINANCIAL SERVICES PAID FINRA REGULATION, INC. $423,778 FOR REGULATORY FEES AND SERVICES. W. DENNIS FERGUSON WAS A PRINCIPAL OF STERNE AGEE FINANCIAL SERVICES AND A MEMBER OF THE FINRA REGULATION, INC. BOARD OF DIRECTORS. STERNE AGEE FINANCIAL SERVICES PAID FINRA REGULATION, INC. $418,120 FOR REGULATORY SERVICES. W. DENNIS FERGUSON WAS THE DIRECTOR OF CLEARING FOR STERNE, AGEE & LEACH, INC. AND A MEMBER OF THE FINRA REGULATION, INC. BOARD OF DIRECTORS. STERNE, AGEE & LEACH, INC. PAID FINRA REGULATION, INC. $1,096,417 FOR REGULATORY SERVICES. DR. SHIRLEY ANN JACKSON WAS CHAIRMAN OF NYSE REGULATION, INC., A MEMBER OF THE BOARD OF NYSE EURONEXT, AND A MEMBER OF THE FINRA REGULATION, INC. BOARD OF DIRECTORS. NYSE RELATED ORGANIZATIONS PAID FINRA REGULATION, INC. $59,790,967 FOR REGULATORY SERVICES. FINRA REGULATION, INC. PAID NYSE RELATED ORGANIZATIONS $358,814 FOR TRANSITION AND SUPPORT SERVICES AND $3,266,505 FOR PASS-THROUGH FINES COLLECTED BY FINRA REGULATION, INC. AND REMITTED TO NYSE. RICHARD S. PECHTER WAS A MEMBER OF THE BOARD OF NYSE REGULATION, INC., AND A MEMBER OF THE FINRA REGULATION, INC. BOARD OF DIRECTORS. NYSE RELATED ORGANIZATIONS PAID FINRA REGULATION, INC. $59,790,967 FOR REGULATORY SERVICES. FINRA REGULATION, INC. PAID NYSE RELATED ORGANIZATIONS $358,814 FOR TRANSITION AND SUPPORT SERVICES AND $3,266,505 FOR PASS-THROUGH FINES COLLECTED BY FINRA REGULATION, INC. AND REMITTED TO NYSE. JOHN W. SCHMIDLIN WAS A MEMBER OF THE BOARD OF NYSE REGULATION, INC., AND A MEMBER OF THE FINRA REGULATION, INC. BOARD OF DIRECTORS. NYSE RELATED ORGANIZATIONS PAID FINRA REGULATION, INC. $59,790,967 FOR REGULATORY SERVICES. FINRA REGULATION, INC. PAID NYSE RELATED ORGANIZATIONS $358,814 FOR TRANSITION AND SUPPORT SERVICES AND $3,266,505 FOR PASS-THROUGH FINES COLLECTED BY FINRA REGULATION, INC. AND REMITTED TO NYSE. KURT P. STOCKER WAS A MEMBER OF THE BOARD OF NYSE REGULATION, INC., AND A MEMBER OF THE FINRA REGULATION, INC. BOARD OF DIRECTORS. NYSE RELATED ORGANIZATIONS PAID FINRA REGULATION, INC. $59,790,967 FOR REGULATORY SERVICES. FINRA REGULATION, INC. PAID NYSE RELATED ORGANIZATIONS $358,814 FOR TRANSITION AND SUPPORT SERVICES AND $3,266,505 FOR PASS-THROUGH FINES COLLECTED BY FINRA REGULATION, INC. AND REMITTED TO NYSE. JAMES D. WEDDLE WAS THE MANAGING PARTNER OF EDWARD JONES AND A MEMBER OF THE FINRA REGULATION, INC. BOARD OF DIRECTORS. EDWARD JONES PAID FINRA REGULATION, INC. $24,901,021 FOR REGULATORY FEES AND SERVICES. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (12 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| VOLUNTARY DISCLOSURE OF 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 2012 FORM 990 SHOULD BE READ IN CONNECTION WITH THE 2012 FINRA ANNUAL FINANCIAL REPORT WHICH IS AVAILABLE @ WWW.FINRA.ORG. SEE ALSO SEPARATE 2012 FORM 990'S FOR RELATED ENTITIES, INCLUDING FINRA, FINRA DISPUTE RESOLUTION, INC., AND FINRA INVESTOR EDUCATION FOUNDATION. | |
| ORGANIZATION ACHIEVEMENTS AND PROGRAM SERVICES | 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 NEARLY 4,300 BROKERAGE FIRMS, ABOUT 161,000 BRANCH OFFICES AND ALMOST 630,000 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 BOARD (MSRB) AND FEDERAL SECURITIES LAWS. MARKET REGULATION ALSO PROVIDES REGULATORY SERVICES TO NASDAQ OMX, NASDAQ OMX PHLX, NASDAQ OMX BX, NYSE, NYSE AMEX, NYSE ARCA, THE INTERNATIONAL SECURITIES EXCHANGE AND DIRECT EDGE. IN 2012, MARKET REGULATION OPENED 472 REVIEWS OR INVESTIGATIONS AND 232 EXAMINATIONS. IN ADDITION, THE DEPARTMENT REFERRED 365 MATTERS TO THE SECURITIES AND EXCHANGE COMISSION. 4B) MEMBER REGULATION FINRA'S MEMBER REGULATION DEPARTMENT HAS A COMPREHENSIVE EXAMINATION PROGRAM WITH DEDICATED RESOURCES OF NEARLY 1,100 EMPLOYEES. STAFF FROM FINRA MEMBER REGULATION CONDUCT REGULAR EXAMINATIONS ON A SCHEDULE THAT IS ESTABLISHED BASED ON A RISK-PROFILE MODEL. IN ADDITION, MEMBER REGULATION CONDUCTS 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 2012, FINRA MEMBER REGULATION CONDUCTED NEARLY 1,900 REGULAR EXAMINATIONS AND NEARLY 7,000 TARGETED AND SWEEP REVIEWS THAT RESULTED IN OVER 3,700 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, EXPULSION OR BARS FROM THE INDUSTRY. IN APPROPRIATE CASES, FINRA WILL REQUIRE FIRMS TO PROVIDE RESTITUTION TO HARMED INVESTORS AND OFTEN IMPOSES OTHER CONDITIONS ON A FIRM'S BUSINESS TO PREVENT REPEATED WRONGDOING. IN 2012, FINRA EXPELLED OR SUSPENDED 30 FIRMS, BARRED 294 INDIVIDUALS FROM THE INDUSTRY AND SUSPENDED 549 OTHERS. 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 IS ALSO RESPONSIBLE FOR THE TRIAGE REVIEW OF COMPLAINTS AND BROKER-DEALER FILINGS AS WELL AS WHISTLEBLOWER TIPS. IN 2012, OFDMI REFERRED OVER 740 MATTERS INVOLVING POTENTIAL FRAUD TO THE SEC, OTHER FEDERAL STATE LAW ENFORCEMENT AGENCIES OR OTHER INTERNAL FINRA DEPARTMENTS. THESE REFERRALS INVOLVED POTENTIAL INSIDER TRADING, MICROCAP FRAUD, PONZI-TYPE SCHEMES OR OTHER POTENTIALLY FRAUDULENT ACTIVITY. 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 WEB CRD, THE CENTRAL LICENSING AND REGISTRATION SYSTEM FOR THE U.S. SECURITIES INDUSTRY AND ITS REGULATORS. IT CONTAINS THE REGISTRATION RECORDS OF MORE THAN 4,300 REGISTERED BROKER-DEALERS AND MORE THAN 25,000 INVESTMENT ADVISERS, AND THE QUALIFICATION, EMPLOYMENT, AND DISCLOSURE HISTORIES OF MORE THAN 630,000 ACTIVE REGISTERED INDIVIDUALS, MAKING IT THE WORLD'S LARGEST AND MOST SOPHISTICATED ONLINE REGISTRATION AND REPORTING SYSTEM. | FORM 990, PART III, LINE 4 |
| BUSINESS AND FAMILY RELATIONSHIPS | DURING TAX YEAR 2012, OR A PORTION THEREOF, THE FOLLOWING FINRA REGULATION, INC. DIRECTORS ALSO SERVED TOGETHER AS MEMBERS OF THE BOARD OF NYSE REGULATION: ELLYN L. BROWN (ALSO NYSE EURONEXT) DR. SHIRLEY ANN JACKSON (ALSO NYSE EURONEXT) RICHARD S. PECHTER JOHN W. SCHMIDLIN KURT P. STOCKER DURING TAX YEAR 2012, OR A PORTION THEREOF, THE FOLLOWING FINRA REGULATION, INC. DIRECTORS ALSO SERVED TOGETHER AS MEMBERS OF THE NYSE REGULATION'S COMMITTEE FOR REVIEW: ELLYN L. BROWN (ALSO NYSE EURONEXT) RICHARD S. PECHTER JOHN W. SCHMIDLIN | FORM 990, PART VI, LINE 2 |
| DESCRIPTION OF CLASSES OF MEMBERS OR STOCKHOLDERS | FINRA IS THE SOLE NOT-FOR-PROFIT STOCKHOLDER OF FINRA REGULATION, INC. | FORM 990, PART VI, LINE 6 |
| DESCRIPTION OF CLASSES OF PERSONS AND THE NATURE OF THEIR RIGHTS | FINRA, THE SOLE NOT-FOR-PROFIT STOCKHOLDER, ELECTS ALL MEMBERS OF THE GOVERNING BODY. | FORM 990, PART VI, LINE 7A |
| CLASSES OF PERSONS, DECISIONS REQUIRING APPROVAL & TYPE OF VOTING RIGHTS | 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 7B |
| FORM 990 REVIEW PROCESS | 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 2012 FORM 990 ON SEPTEMBER 18, 2013. 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 11 |
| ENFORCEMENT OF CONFLICT OF INTEREST POLICY | 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. THE CODE OF CONDUCT POLICY REQUIRES EMPLOYEES TO CERTIFY ANNUALLY AS TO THEIR COMPLIANCE WITH THE WRITTEN POLICY. THE WRITTEN POLICY CONTAINS AN ONGOING OBLIGATION FOR EMPLOYEES TO INFORM FINRA OF ALL BROKERAGE ACCOUNTS IN WHICH THEY HAVE AN INTEREST AND TO ARRANGE FOR FINRA TO RECEIVE DUPLICATE ACCOUNT STATEMENTS. FINRA REVIEWS TRANSACTIONS IN EMPLOYEES' BROKERAGE ACCOUNTS TO ENSURE COMPLIANCE WITH FINRA'S INVESTMENT RESTRICTIONS. AMONG OTHER THINGS, THESE RESTRICTIONS PROHIBIT EMPLOYEES FROM HAVING AN INTEREST IN A BROKER-DEALER OR ENTITY THAT DERIVES 10% OR MORE OF ITS REVENUE, NET OF INTEREST EXPENSE, FROM BROKER-DEALER SUBSIDIARIES OR AFFILIATES. A LIST OF PROHIBITED COMPANIES IS POSTED ON FINRA'S CORPORATE INTRANET. FINRA'S DEPARTMENT HEADS HAVE ACCESS TO SEVERAL ONLINE REPORTS THAT HELP THEM AVOID ASSIGNING AN EMPLOYEE TO WORK ON A PROJECT THAT WOULD GIVE RISE TO A CONFLICT. FOR INSTANCE, A MANAGER CAN DETERMINE WHETHER AN EMPLOYEE'S STOCK HOLDINGS WOULD CONFLICT WITH A PROPOSED FINRA ASSIGNMENT (E.G., ASSIGNING AN EMPLOYEE TO NEGOTIATE A CONTRACT WITH A VENDOR IN WHICH THE EMPLOYEE HAS A SIGNIFICANT STOCK POSITION). 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 OR ETHICS MANAGER. 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. COMMUNICATIONS MADE THROUGH ETHICSPOINT ARE CONFIDENTIAL AND, IF THE EMPLOYEE WISHES, ANONYMOUS. 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, LINE 12C |
| PROCESS TO DETERMINE COMPENSATION OF TOP OFFICIALS, OFFICERS & KEY EMP. | 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 15, 2012 AND FEBRUARY 15, 2012 TO ESTABLISH INCENTIVE COMPENSATION ATTRIBUTABLE TO THE PERFORMANCE OF SERVICES DURING CALENDAR YEAR 2011 AND TO ESTABLISH BASE SALARIES FOR CALENDAR YEAR 2012. 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 TALENT IS RECRUITED FROM US. 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 THE COMMITTEE'S MINUTES OF THE JANUARY 18, 2012 AND FEBRUARY 15, 2012 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 2011 INCENTIVE COMPENSATION OF THE CEO AT ITS MEETING ON FEBRUARY 16, 2012. ALL COMPENSATION COMMITTEE MEMBERS VOTED FOR THE PROPOSED LEVEL OF EXECUTIVE COMPENSATION. | FORM 990, PART VI, LINES 15A AND 15B |
| PUBLIC AVAILABILITY OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, | FORM 990, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND THE FINRA CONSOLIDATED AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. | AND FINANCIAL STATEMENTS |
| ESTIMATED AVERAGE HOURS PER WEEK | 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 VII, COLUMN B |
| OTHER CHANGES IN NET ASSETS OR FUND BALANCES | 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 2012 ANNUAL FINANCIAL REPORT WHICH IS AVAILABLE @ WWW.FINRA.ORG. | FORM 990, PART XI, LINE 9 |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII (3 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Exempt Code SectionExemptCodeSection | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Controlled OrgControlledOrg |
|---|---|---|---|---|---|---|---|---|---|
| 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 | true |
| FINRA INVESTOR EDUCATION FOUNDATION | |||||||||
| 1735 K STREET NW | WASHINGTON | DC | 20006 | 200863779 | EDUCATION | DE | 501(C)(4) | FINRA | true |
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NEW NASD HOLDING INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1735 K STREET NW | AddressLine1 |
| City | WASHINGTON | City |
| State | DC | State |
| ZIP Code | 200061506 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 522307595 | EIN |
| Primary Activity | HOLDING CO | PrimaryActivity |
| Legal Domicile State | DE | LegalDomicileState |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FINRA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Entity | C-CORP | TypeOfEntity |
| Share Of Total Income | 0 | ShareOfTotalIncome |
| Share Of EOY Assets | 0 | ShareOfEOYAssets |
| Percentage Ownership | 0.00000 | PercentageOwnership |
| Controlled Org | true | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | false | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | false | SharingOfFacilities |
| Sharing Of Paid Employees | false | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | true | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | false | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable
Name Of Other Organization NameOfOtherOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FINRA DISPUTE RESOLUTION INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | Q | TransactionType |
| Amount Involved | 3424492 | AmountInvolved |
| Method Of Amt Determination | FMV | MethodOfAmtDetermination |