FINANCIAL INDUSTRY REGULATORY AUTHORITY INC: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- FINANCIAL INDUSTRY REGULATORY AUTHORITY INC (EIN 53-0088710)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-11-11
- IRS object ID
- 201133159349302548
- Schema version
- 2010v3.4
- 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 | 2011-11-11T13:56:21-06:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | 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 | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 530088710 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FINANCIAL INDUSTRY REGULATORY AUTHORITY INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | FINA | NameControl |
| Phone | 2027288949 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1735 K STREET NW | AddressLine1 |
| City | WASHINGTON | City |
| State | DC | State |
| ZIP Code | 200061506 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ROBERT A RENNER | Name |
| Title | V.P. & ASS'T CONTROLLER | Title |
| Date Signed | 2011-11-11 | DateSigned |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6023223000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | 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 | 3081437488 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.FINRA.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1936 | 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 | 22 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 10 | NbrIndependentVotingMembers |
| Total Nbr Employees | 705 | TotalNbrEmployees |
| Total Nbr Volunteers | 2 | TotalNbrVolunteers |
| Total Gross UBI | 39018044 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 421979581 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 400257523 | ProgramServiceRevenueCY |
| Investment Income Prior Year | -236153909 | InvestmentIncomePriorYear |
| Investment Income Current Year | 24906035 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 134631393 | OtherRevenuePriorYear |
| Other Revenue Current Year | 180552555 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 320457065 | TotalRevenuePriorYear |
| Total Revenue Current Year | 605716113 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 5000000 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 140543686 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 155855827 | 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 | 500341571 | OtherExpensePriorYear |
| Other Expenses Current Year | 467858075 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 645885257 | TotalExpensesPriorYear |
| Total Expenses Current Year | 623713902 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -325428192 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -17997789 | RevenuesLessExpensesCY |
| Total Assets BOY | 2004140244 | TotalAssetsBOY |
| Total Assets EOY | 2189058689 | TotalAssetsEOY |
| Total Liabilities BOY | 344868400 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 409521494 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 1659271844 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 1779537195 | 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 | true | 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 | true | 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 | true | ForeignOffice |
| Foreign Activities | true | ForeignActivities |
| More Than5000 K To Organizations | false | 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 | false | 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 | true | 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 | true | 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 | 232 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 705 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | true | ForeignFinancialAccount |
| Name Of Foreign Country | BD | NameOfForeignCountry |
| 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 | 22 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 10 | 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 (44 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| RICHARD G KETCHUM | ||||||||
| CHAIRMAN & CEO | 60.0 | X | X | 2260346 | 0 | 349008 | ||
| JED BANDES PART-YR | ||||||||
| BOARD MEMBER | 2.0 | X | 28922 | 0 | 0 | |||
| JOEL R BLUMENSCHEIN PART-YR | ||||||||
| BOARD MEMBER | 2.0 | X | 27761 | 0 | 0 | |||
| CHARLES A BOWSHER | ||||||||
| BOARD MEMBER | 2.0 | X | 68998 | 0 | 0 | |||
| JOHN J BRENNAN | ||||||||
| BOARD MEMBER | 3.0 | X | 62789 | 0 | 0 | |||
| ELLYN L BROWN | ||||||||
| BOARD MEMBER | 2.0 | X | 60321 | 0 | 0 | |||
| RICHARD F BRUECKNER | ||||||||
| BOARD MEMBER | 4.0 | X | 73286 | 0 | 0 | |||
| MARI BUECHNER PART-YR | ||||||||
| BOARD MEMBER | 2.0 | X | 43074 | 0 | 0 | |||
| JAMES E BURTON | ||||||||
| BOARD MEMBER | 4.0 | X | 80017 | 0 | 0 | |||
| MARK S CASADY | ||||||||
| BOARD MEMBER | 3.0 | X | 60742 | 0 | 0 | |||
| JOHN FX DOLAN | ||||||||
| BOARD MEMBER | 2.0 | X | 59023 | 0 | 0 | |||
| JAMES F DUFFY PART-YR | ||||||||
| BOARD MEMBER | 2.0 | X | 41464 | 0 | 0 | |||
| W DENNIS FERGUSON | ||||||||
| BOARD MEMBER | 3.0 | X | 64839 | 0 | 0 | |||
| HARVEY J GOLDSCHMID | ||||||||
| BOARD MEMBER | 3.0 | X | 63262 | 0 | 0 | |||
| WILLIAM H HEYMAN | ||||||||
| BOARD MEMBER | 3.0 | X | 70203 | 0 | 0 | |||
| DR SHIRLEY ANN JACKSON | ||||||||
| BOARD MEMBER | 2.0 | X | 65306 | 0 | 0 | |||
| KEN NORENSBERG PART-YR | ||||||||
| BOARD MEMBER | 3.0 | X | 30261 | 0 | 0 | |||
| RICHARD S PECHTER | ||||||||
| BOARD MEMBER | 3.0 | X | 70202 | 0 | 0 | |||
| JOHN W SCHMIDLIN | ||||||||
| BOARD MEMBER | 2.0 | X | 82253 | 0 | 0 | |||
| JOEL SELIGMAN | ||||||||
| BOARD MEMBER | 2.0 | X | 55323 | 0 | 0 | |||
| G DONALD STEEL PART-YR | ||||||||
| BOARD MEMBER | 2.0 | X | 50085 | 0 | 0 | |||
| GARY H STERN | ||||||||
| BOARD MEMBER | 2.0 | X | 71407 | 0 | 0 | |||
| KURT P STOCKER | ||||||||
| BOARD MEMBER | 2.0 | X | 68590 | 0 | 0 | |||
| SETH H WAUGH | ||||||||
| BOARD MEMBER | 2.0 | X | 0 | 0 | 0 | |||
| JAMES D WEDDLE | ||||||||
| BOARD MEMBER | 2.0 | X | 0 | 0 | 0 | |||
| DUNCAN F WILLIAMS PART-YR | ||||||||
| BOARD MEMBER | 2.0 | X | 43089 | 0 | 0 | |||
| TODD T DIGANCI | ||||||||
| EXECUTIVE VP AND CFO | 60.0 | X | 1172194 | 0 | 59804 | |||
| MARCIA E ASQUITH | ||||||||
| SENIOR VP AND CORP. SECRETARY | 60.0 | X | 588242 | 0 | 51325 | |||
| T GRANT CALLERY | ||||||||
| EXEC. VP AND GENERAL COUNSEL | 60.0 | 705205 | 0 | 111280 | X | |||
| MARTIN P COLBURN | ||||||||
| EXECUTIVE VP AND CTO | 60.0 | 856433 | 0 | 195616 | X | |||
| JAMES J CUMMINGS | ||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0 | 643127 | 100075 | X | |||
| JAMES P DONOVAN | ||||||||
| SENIOR EXECUTIVE VICE PRES. | 60.0 | 869225 | 0 | 1165546 | X | |||
| LINDA D FIENBERG | ||||||||
| PRESIDENT - DISPUTE RESOLUTION | 60.0 | 0 | 893494 | 80505 | X | |||
| SAMUEL H GAER | ||||||||
| EXECUTIVE VP AND CIO | 60.0 | 76850 | 0 | 204019 | X | |||
| STEPHEN LUPARELLO | ||||||||
| SENIOR EXECUTIVE VICE PRES. | 60.0 | 0 | 1370526 | 62363 | X | |||
| MARC MENCHEL | ||||||||
| EXEC. VP AND GENERAL COUNSEL | 60.0 | 0 | 1092510 | 65663 | X | |||
| HOWARD M SCHLOSS | ||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 827144 | 0 | 200239 | X | |||
| STEPHEN M SCHOENEMAN | ||||||||
| SENIOR VICE PRESIDENT | 60.0 | 708508 | 0 | 63439 | X | |||
| THOMAS M SELMAN | ||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 0 | 672502 | 75683 | X | |||
| JAMES R ALLEN | ||||||||
| SENIOR VICE PRESIDENT | 60.0 | 582114 | 0 | 105753 | X | |||
| RICHARD A BACHMAN | ||||||||
| SENIOR VICE PRESIDENT | 60.0 | 1575980 | 0 | 21929 | X | |||
| STEVEN A JARRETT | ||||||||
| SENIOR VICE PRESIDENT | 60.0 | 618888 | 0 | 431137 | X | |||
| STEPHEN A JOACHIM | ||||||||
| EXECUTIVE VICE PRESIDENT | 60.0 | 797207 | 0 | 334027 | X | |||
| ANGELA A POSILLICO | ||||||||
| SENIOR VICE PRESIDENT | 60.0 | 614460 | 0 | 70389 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 13594013 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 4672159 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 3747800 | TotalOtherCompensation |
| Number Individuals GT100 K | 336 | NumberIndividualsGT100K |
| Formers Listed | false | 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 |
|---|---|---|---|---|---|
| HP ENTERPRISE SERVICES LLC | |||||
| 1185 AVENUE OF THE AMERICAS 31ST F | NEW YORK | NY | 10036 | TECH. CONSULTING | 50101748 |
| TEK SYSTEMS | |||||
| PO BOX 198568 | ATLANTA | GA | 30384 | TECH. CONSULTING | 6631818 |
| NASDAQ OMX GROUP | |||||
| 9513 KEY WEST AVENUE | ROCKVILLE | MD | 20850 | TECH. CONSULTING | 5138903 |
| USTAS TECHNOLOGIES INC | |||||
| 10410 NOLAN DRIVE | ROCKVILLE | MD | 20850 | TECH. CONSULTING | 4726250 |
| NCS PEARSON INCORPORATED | |||||
| 21866 NETWORK PLACE | CHICAGO | IL | 60673 | TESTING SERVICES | 4606038 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 111 | 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 |
|---|---|---|---|---|
| ACTIVITY ASSESSMENT | 900099 | 295238554 | 295238554 | |
| USER FEES | 900099 | 3380867 | 3380867 | |
| TRANSPARENCY SERVICE FEES | 900099 | 48619400 | 48619400 | |
| CONTRACT SERVICE FEES | 900099 | 52596317 | 13718221 | 38878096 |
| All other program service revenue | 900099 | 422385 | 422385 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 400257523 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 29923780 | TotalRevenueColumn |
| Unrelated Business Revenue | 139948 | UnrelatedBusinessRevenue |
| Exclusion | $29,783,832 | ExclusionAmount |
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 | 1548592 | TotalRevenueColumn |
| Exclusion | $1,548,592 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 2470703630 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 2475721375 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -5017745 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -5017745 | TotalRevenueColumn |
| Exclusion | -$5,017,745 | 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 |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | SUBSIDIARY OVERHEAD ALLOCATION | Description |
| Business Code | 900099 | BusinessCode |
| Total Revenue Column | 179003963 | TotalRevenueColumn |
| Related Or Exempt Function Income | 179003963 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 179003963 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 605716113 | TotalRevenueColumn |
| Related Or Exempt Function Income | 540383390 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 39018044 | UnrelatedBusinessRevenue |
| Exclusion | $26,314,679 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | 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 | 11333100 | 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 | 102646121 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 19181225 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 17508334 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5187047 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7886445 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3381939 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 973033 | Total |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 452730 | 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 | 5248637 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 15009544 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 113320 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9803423 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 82139984 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9456907 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4330623 | 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 | 757073 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7244 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 23870752 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2281145 | Total |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| ACTIVITY ASSESSMENT | 295394965 |
| TEMPORARY HELP | 4063301 |
| TAXES | 1970932 |
| PUBLICATIONS/PRINTING | 738846 |
| BANK SERVICE FEES | 519065 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -541833 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 623713902 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -4558486 | BOY |
| EOY | -579157 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 238183202 | BOY |
| EOY | 417284795 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 156621144 | BOY |
| EOY | 72146475 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14636079 | BOY |
| EOY | 21637956 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 248232371 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 140609490 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 111470503 | BOY |
| EOY | 107622881 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 708935363 | BOY |
| EOY | 744846594 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 644678891 | BOY |
| EOY | 716587903 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33333966 | BOY |
| EOY | 31393533 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 100839582 | BOY |
| EOY | 78117709 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2004140244 | BOY |
| EOY | 2189058689 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 287609435 | BOY |
| EOY | 363167146 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 57258965 | BOY |
| EOY | 46354348 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 344868400 | BOY |
| EOY | 409521494 | 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 | 169005778 | BOY |
| EOY | 169005778 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1490266066 | BOY |
| EOY | 1610531417 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1659271844 | BOY |
| EOY | 1779537195 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2004140244 | BOY |
| EOY | 2189058689 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -17997789 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 138263140 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grassroots Lobbying | TotalGrassrootsLobbying | |
| Total Direct Lobbying | TotalDirectLobbying | |
| Total Lobbying Expenditures | TotalLobbyingExpenditures | |
| Other Exempt Purpose Expenditures | OtherExemptPurposeExpenditures | |
| Total Exempt Purpose Expenditures | TotalExemptPurposeExpenditures | |
| Lobbying Nontaxable | LobbyingNontaxableAmount | |
| Grassroots Nontaxable | GrassrootsNontaxableAmount | |
| Tot Lobbying Grassroot Minus Non Tx | TotLobbyingGrassrootMinusNonTx | |
| Tot Lobby Expend Mns Lobbying Nontx | TotLobbyExpendMnsLobbyingNontx | |
| Substantially All Dues Nondeduct | false | SubstantiallyAllDuesNondeduct |
| Only In House Lobbying | false | OnlyInHouseLobbying |
| Agree To Carryover Prior Year | false | AgreeToCarryoverPriorYear |
| Non Ded Lobby Political Current | 800000 | NonDedLobbyPoliticalCurrent |
| Non Ded Lobby Political Total | 800000 | NonDedLobbyPoliticalTotal |
| Taxable | $800,000 | TaxableAmount |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 11659974 | OtherCostOrOtherBasis |
| Book Value | 11659974 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 64233762 | OtherCostOrOtherBasis |
| Depreciation | 17692620 | Depreciation |
| Book Value | 46541142 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 61510663 | OtherCostOrOtherBasis |
| Depreciation | 40594036 | Depreciation |
| Book Value | 20916627 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 68969023 | OtherCostOrOtherBasis |
| Depreciation | 58834228 | Depreciation |
| Book Value | 10134795 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 41858949 | OtherCostOrOtherBasis |
| Depreciation | 23488607 | Depreciation |
| Book Value | 18370343 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 107622881 | TotalOfBookValueLandBuildings |
| Financial Derivatives | FinancialDerivatives | |
| Closely Held Equity Interests | CloselyHeldEquityInterests |
Other Securities OtherSecurities (3 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| PRIVATE INVESTMENTS | 676367212 | F |
| MARKETABLE ALTERNATIVE INVESTM | 39920691 | F |
| INVESTMENT IN NSCC | 300000 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 716587903 | TotalOfBookValueSecurities |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
| Total Of Amounts | 0 | TotalOfAmounts |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | FIN 48 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 2007 TO 2010, 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
Accts Actvs Out US Table AcctsActvsOutUSTable (4 entries)
| RegionRegion | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees | Type Of Activities ConductedTypeOfActivitiesConducted | Specific Services ProvidedSpecificServicesProvided | Total ExpendituresTotalExpenditures |
|---|---|---|---|---|---|
| Central America and the Caribbean | 1 | 0 | Program Services | INSURANCE | 12165 |
| Central America and the Caribbean | 0 | 0 | Investments | 5194637 | |
| Europe (Including Iceland and Greenland) | 0 | 0 | Investments | 2094122 | |
| Sub-Saharan Africa | 0 | 0 | Investments | 530360 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Number Of Offices | 1 | SubtotalNumberOfOffices |
| Subtotal Number Of Employees | 0 | SubtotalNumberOfEmployees |
| Total Number Of Offices | 1 | TotalNumberOfOffices |
| Total Number Of Employees | 0 | TotalNumberOfEmployees |
| Subtotal Amount Spent | 7831284 | SubtotalAmountSpent |
| Total Amount Spent | 7831284 | TotalAmountSpent |
| Transfer To Foreign Corp | true | TransferToForeignCorp |
| Interest In Foreign Trust | false | InterestInForeignTrust |
| Own Foreign Corp | true | OwnForeignCorp |
| Passive Foreign Invest Co | true | PassiveForeignInvestCo |
| Foreign Partnership | true | ForeignPartnership |
| Boycott Countries | false | BoycottCountries |
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 (19 entries)
| 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 | |||||||||||||
| 980740 | 0 | 1250000 | 0 | 29606 | 0 | 321305 | 0 | 27703 | 0 | 2609354 | 0 | 0 | 0 |
| TODD T DIGANCI | |||||||||||||
| 476490 | 0 | 660000 | 0 | 35704 | 0 | 30644 | 0 | 29160 | 0 | 1231998 | 0 | 0 | 0 |
| MARCIA E ASQUITH | |||||||||||||
| 207155 | 0 | 220000 | 0 | 161087 | 0 | 23460 | 0 | 27865 | 0 | 639567 | 0 | 35876 | 0 |
| T GRANT CALLERY | |||||||||||||
| 357230 | 0 | 317800 | 0 | 30174 | 0 | 84163 | 0 | 27117 | 0 | 816485 | 0 | 0 | 0 |
| MARTIN P COLBURN | |||||||||||||
| 382482 | 0 | 454043 | 0 | 19908 | 0 | 159027 | 0 | 36589 | 0 | 1052049 | 0 | 0 | 0 |
| JAMES J CUMMINGS | |||||||||||||
| 0 | 268303 | 0 | 347149 | 0 | 27674 | 0 | 70295 | 0 | 29780 | 0 | 743202 | 0 | 0 |
| JAMES P DONOVAN | |||||||||||||
| 500000 | 0 | 360000 | 0 | 9225 | 0 | 1158318 | 0 | 7228 | 0 | 2034771 | 0 | 0 | 0 |
| LINDA D FIENBERG | |||||||||||||
| 0 | 440336 | 0 | 420300 | 0 | 32858 | 0 | 62664 | 0 | 17842 | 0 | 974000 | 0 | 0 |
| SAMUEL H GAER | |||||||||||||
| 76735 | 0 | 0 | 0 | 115 | 0 | 203077 | 0 | 942 | 0 | 280869 | 0 | 0 | 0 |
| STEPHEN LUPARELLO | |||||||||||||
| 0 | 585278 | 0 | 700000 | 0 | 85248 | 0 | 31847 | 0 | 30517 | 0 | 1432890 | 0 | 0 |
| MARC MENCHEL | |||||||||||||
| 0 | 391140 | 0 | 434300 | 0 | 267070 | 0 | 34801 | 0 | 30862 | 0 | 1158173 | 0 | 0 |
| HOWARD M SCHLOSS | |||||||||||||
| 422440 | 0 | 393000 | 0 | 11704 | 0 | 157340 | 0 | 42899 | 0 | 1027383 | 0 | 0 | 0 |
| STEPHEN M SCHOENEMAN | |||||||||||||
| 287126 | 0 | 225000 | 0 | 196382 | 0 | 31076 | 0 | 32363 | 0 | 771947 | 0 | 45366 | 0 |
| THOMAS M SELMAN | |||||||||||||
| 0 | 326105 | 0 | 324400 | 0 | 21997 | 0 | 63136 | 0 | 12547 | 0 | 748185 | 0 | 0 |
| JAMES R ALLEN | |||||||||||||
| 247098 | 0 | 147000 | 0 | 188016 | 0 | 67851 | 0 | 37902 | 0 | 687867 | 0 | 0 | 0 |
| RICHARD A BACHMAN | |||||||||||||
| 5393 | 0 | 155000 | 0 | 1415588 | 0 | 5717 | 0 | 16212 | 0 | 1597909 | 0 | 0 | 0 |
| STEVEN A JARRETT | |||||||||||||
| 280991 | 0 | 285000 | 0 | 52896 | 0 | 404843 | 0 | 26294 | 0 | 1050025 | 0 | 0 | 0 |
| STEPHEN A JOACHIM | |||||||||||||
| 345556 | 0 | 428200 | 0 | 23451 | 0 | 293675 | 0 | 40352 | 0 | 1131234 | 0 | 0 | 0 |
| ANGELA A POSILLICO | |||||||||||||
| 230166 | 0 | 230000 | 0 | 154294 | 0 | 35713 | 0 | 34676 | 0 | 684849 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| SUPPLEMENTAL COMPENSATION INFORMATION | SCHEDULE J | 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. 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. 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. 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 THAT VESTS AT SPECIFIED AGE AND SERVICE MILESTONES. 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. REIMBURSEMENT TO BOARD MEMBERS FOR FIRST CLASS TRAVEL EXPENSES INCURRED WHILE ATTENDING BOARD AND CORPORATE COMMITTEE MEETINGS ON BEHALF OF FINRA, FINRA REGULATION, AND FINRA DISPUTE RESOLUTION IS PERMITTED. TRAVEL FOR COMPANIONS: IN LIEU OF A WEEKEND FLIGHT HOME, A COMPANION MAY FLY TO MEET AN EMPLOYEE ON AN EXTENDED STAY AT HIS OR HER 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. 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 | SCHEDULE J, PART I, LINES 4A AND 4B | 4A) IN CONNECTION WITH RICHARD A. BACHMAN'S SEPARATION FROM FINRA, HE WAS PAID $290,296 IN 2010. IN CONNECTION WITH STEVEN A. JARRETT'S SEPARATION FROM FINRA, HE WAS PAID $28,823 IN 2010. IN CONNECTION WITH JAMES R. ALLEN'S PENDING SEPARATION FROM FINRA, HE WAS PAID $162,050 IN 2010. 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 THAT VESTS AT SPECIFIED AGE AND SERVICE MILESTONES. THIS PLAN WAS CLOSED TO NEW ENTRANTS AS OF 12/31/05. PARTICIPANTS IN THE NON-QUALIFIED DEFINED BENEFIT PLAN THAT HAD AN INCREMENTAL INCREASE IN PRESENT VALUE OF PARTICIPANT BENEFIT VALUE FROM PRIOR YEAR INCLUDE: T. GRANT CALLERY - $3,122 JAMES J. CUMMINGS - $3,135 STEPHEN LUPARELLO - $62,740 MARC MENCHEL - $256,521 PARTICIPANTS IN THE SUPPLEMENTAL NON-QUALIFIED DEFINED BENEFIT PLAN THAT HAD A GROSS TAXABLE PAYOUT INCLUDE: RICHARD A. BACHMAN - $1,107,737 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 2010 INCLUDE: MARCIA E. ASQUITH - $137,929 STEPHEN M. SCHOENEMAN - $174,043 ANGELA A. POSILLICO - $135,404 VOLUNTARY COMPENSATION DISCLOSURES: SETH H. WAUGH AND JAMES D. WEDDLE WERE VOLUNTEER BOARD MEMBERS IN 2010 AND DID NOT RECEIVE COMPENSATION FOR THEIR SERVICES. |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV (8 entries)
| RelationshipRelationship | Amount Of TransactionAmountOfTransaction | Description Of TransactionDescriptionOfTransaction | Sharing Of RevenuesSharingOfRevenues |
|---|---|---|---|
| NYSE EURONEXTNYSE REGULATION | |||
| SCHEDULE L, PART V | 31410926 | SCHEDULE L, PART V | false |
| BNY CONVERGEX HOLDINGS LLC | |||
| SCHEDULE L, PART V | 12509709 | SCHEDULE L, PART V | false |
| DEUTSCH BANK AMERICAS | |||
| SCHEDULE L, PART V | 8458579 | SCHEDULE L, PART V | false |
| PERSHING LLC | |||
| SCHEDULE L, PART V | 5911968 | SCHEDULE L, PART V | false |
| EDWARD JONES | |||
| SCHEDULE L, PART V | 300973 | SCHEDULE L, PART V | false |
| LPL FINANCIAL | |||
| SCHEDULE L, PART V | 244313 | SCHEDULE L, PART V | false |
| STERNE AGEE LEACH INC | |||
| SCHEDULE L, PART V | 155700 | SCHEDULE L, PART V | false |
| MEGAN E PELUSO | |||
| SCHEDULE L, PART V | 79887 | SCHEDULE L, PART V | false |
Form990 Schedule L Part V Form990ScheduleLPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS | Identifier |
| Return Reference | FORM 990, SCHEDULE L, PART V | 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 2010 FORM 990 INSTRUCTIONS FOR THE COMPLETE IRS DEFINITION. ELLYN L. BROWN IS A MEMBER OF THE BOARDS OF NYSE EURONEXT AND NYSE REGULATION, AND A MEMBER OF THE FINRA BOARD OF GOVERNORS. FINRA PAID NYSE RELATED ORGANIZATIONS $28,473,734 FOR OCCUPANCY AND COMMUNICATION SERVICES, AND $2,937,192 FOR CERTAIN PASS-THROUGH FEES COLLECTED BY FINRA AND REMITTED TO NYSE REGULATION, INC. RICHARD F. BRUECKNER IS A MEMBER OF THE BOARD OF MANAGERS OF BNY CONVERGEX HOLDINGS LLC AND A MEMBER OF THE FINRA BOARD OF GOVERNORS. BNY CONVERGEX GROUP PAID FINRA $12,509,709 FOR TRANSACTION AND REPORTING FEES. RICHARD F. BRUECKNER IS THE CHAIRMAN (& CEO THROUGH OCTOBER 2010) OF PERSHING LLC AND A MEMBER OF THE FINRA BOARD OF GOVERNORS. PERSHING LLC PAID FINRA $5,911,968 FOR TRANSACTION AND REPORTING FEES. MARK S. CASADY IS THE CHAIRMAN AND CEO OF LPL FINANCIAL AND JOHN J. BRENNAN IS A DIRECTOR OF LPL FINANCIAL AND BOTH SERVE AS MEMBERS OF THE FINRA BOARD OF GOVERNORS. LPL FINANCIAL PAID FINRA $244,313 FOR TRANSACTION AND REPORTING FEES. JAMES F. DUFFY WAS INTERIM CEO AND A MEMBER OF THE BOARD OF THE NYSE REGULATION, INC., AND DURING 2010 WAS A MEMBER OF THE FINRA BOARD OF GOVERNORS. FINRA PAID THE NYSE RELATED ORGANIZATIONS $28,473,734 FOR OCCUPANCY AND COMMUNICATION SERVICES, AND $2,937,192 FOR CERTAIN PASS-THROUGH FEES COLLECTED BY FINRA AND REMITTED TO NYSE REGULATION. W. DENNIS FERGUSON IS THE DIRECTOR OF CLEARING FOR STERNE, AGEE & LEACH, INC. AND IS A MEMBER OF THE FINRA BOARD OF GOVERNORS. STERNE, AGEE & LEACH, INC. PAID FINRA $155,700 FOR TRANSACTION AND REPORTING FEES. DR. SHIRLEY ANN JACKSON IS CHAIRMAN OF THE BOARD OF NYSE REGULATION, INC., WAS A MEMBER OF THE BOARD OF NYSE EURONEXT DURING 2010, AND IS A MEMBER OF THE FINRA BOARD OF GOVERNORS. FINRA PAID NYSE RELATED ORGANIZATIONS $28,473,734 FOR OCCUPANCY AND COMMUNICATION SERVICES, AND $2,937,192 FOR CERTAIN PASS-THROUGH FEES COLLECTED BY FINRA AND REMITTED TO NYSE REGULATION. RICHARD S. PECHTER IS A MEMBER OF THE BOARD OF NYSE REGULATION, INC., AND A MEMBER OF THE FINRA BOARD OF GOVERNORS. FINRA PAID THE NYSE RELATED ORGANIZATIONS $28,473,734 FOR OCCUPANCY AND COMMUNICATION SERVICES, AND $2,937,192 FOR CERTAIN PASS-THROUGH FEES COLLECTED BY FINRA AND REMITTED TO NYSE REGULATION. MEGAN E. PELUSO IS AN EMPLOYEE OF FINRA AND IS THE DAUGHTER OF T. GRANT CALLERY, EVP AND GENERAL COUNSEL OF FINRA. FINRA PAID MS. PELUSO ANNUAL COMPENSATION OF $79,887. JOHN W. SCHMIDLIN IS A MEMBER OF THE BOARD OF NYSE REGULATION, INC., AND A MEMBER OF THE FINRA BOARD OF GOVERNORS. FINRA PAID THE NYSE RELATED ORGANIZATIONS $28,473,734 FOR OCCUPANCY AND COMMUNICATION SERVICES, AND $2,937,192 FOR CERTAIN PASS-THROUGH FEES COLLECTED BY FINRA AND REMITTED TO NYSE REGULATION. KURT P. STOCKER IS A MEMBER OF THE BOARD OF NYSE REGULATION, INC., AND A MEMBER OF THE FINRA BOARD OF GOVERNORS. FINRA PAID THE NYSE RELATED ORGANIZATIONS $28,473,734 FOR OCCUPANCY AND COMMUNICATION SERVICES, AND $2,937,192 FOR CERTAIN PASS-THROUGH FEES COLLECTED BY FINRA AND REMITTED TO NYSE REGULATION. SETH H. WAUGH IS CEO OF DEUTSCHE BANK AMERICAS AND A MEMBER OF THE FINRA BOARD OF GOVERNORS. DEUTSCHE BANK AMERICAS PAID FINRA $8,458,579 FOR TRANSACTION AND REPORTING FEES. JAMES D. WEDDLE IS MANAGING PARTNER OF EDWARD JONES AND A MEMBER OF THE FINRA BOARD OF GOVERNORS. EDWARD JONES PAID FINRA $300,973 FOR TRANSACTION AND REPORTING FEES. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (12 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| 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 2010 FORM 990 SHOULD BE READ IN CONNECTION WITH THE 2010 FINRA ANNUAL FINANCIAL REPORT WHICH IS AVAILABLE ON WWW.FINRA.ORG. SEE ALSO SEPARATE 2010 FORM 990S FOR RELATED ENTITIES, INCLUDING FINRA DISPUTE RESOLUTION, INC., FINRA REGULATION, INC., AND FINRA INVESTOR EDUCATION FOUNDATION. | |
| DESCRIPTION OF PROGRAM SERVICES | FINRA AND ITS RELATED ENTITIES TOUCH VIRTUALLY EVERY ASPECT OF THE SECURITIES BUSINESS - FROM REGISTERING AND EDUCATING INDUSTRY PARTICIPANTS TO EXAMINING SECURITIES FIRMS; WRITING RULES; ENFORCING THOSE RULES AND THE FEDERAL SECURITIES LAWS; INFORMING AND EDUCATING THE INVESTING PUBLIC; PROVIDING TRADE REPORTING AND OTHER INDUSTRY UTILITIES; AND ADMINISTERING THE LARGEST DISPUTE RESOLUTION FORUM FOR INVESTORS AND REGISTERED FIRMS. | FORM 990, PART III, LINE 4 |
| BUSINESS AND FAMILY RELATIONSHIPS | BOARD MEMBERS RICHARD F. BRUECKNER AND DUNCAN F. WILLIAMS HAD A BUSINESS RELATIONSHIP DURING 2010. MR. BRUECKNER IS CHAIRMAN (& CEO THROUGH OCTOBER 2010) OF PERSHING LLC, WHICH PERFORMS CLEARING SERVICES FOR DUNCAN-WILLIAMS, INC. FOR WHICH MR. WILLIAMS SERVES AS PRESIDENT. BOARD MEMBER RICHARD F. BRUECKNER HAD A BUSINESS RELATIONSHIP DURING 2010 WITH JOHN J. BRENNAN AND MARK S. CASADY. MR. BRUECKNER IS CHAIRMAN (& CEO THROUGH OCTOBER 2010) OF PERSHING LLC, WHICH PERFORMS CLEARING SERVICES FOR BROKER-DEALERS WITHIN LPL FINANCIAL, OF WHICH MR. BRENNAN IS A BOARD MEMBER AND MR. CASADY IS CHAIRMAN AND CEO. BOARD MEMBERS WILLIAM H. HEYMAN AND RICHARD F. BRUECKNER HAD A BUSINESS RELATIONSHIP DURING 2010. MR. BRUECKNER IS A MEMBER OF THE EXECUTIVE COMMITTEE OF BNY MELLON, WHICH IS A MEMBER OF THE TRAVELERS' BANK LENDING SYNDICATE AND PROVIDES CUSTODIAL SERVICES TO THE TRAVELERS COMPANIES. MR. HEYMAN IS VICE CHAIRMAN AND CHIEF INVESTMENT OFFICER OF THE TRAVELERS COMPANIES, WHICH ALSO DOES BUSINESS WITH THE FIXED INCOME DEALER DESK OF BNY MELLON. BOARD MEMBERS WILLIAM H. HEYMAN AND SETH H. WAUGH HAD A BUSINESS RELATIONSHIP DURING 2010. MR. WAUGH IS CEO OF DEUTSCHE BANK AMERICAS, WHICH IS A MEMBER OF THE TRAVELERS' BANK LENDING SYNDICATE. MR. HEYMAN IS VICE CHAIRMAN AND CHIEF INVESTMENT OFFICER OF THE TRAVELERS COMPANIES, WHICH ALSO DOES BUSINESS WITH THE FIXED INCOME DEALER DESK OF DEUTSCHE BANK. BOARD MEMBERS RICHARD F. BRUECKNER AND SETH W. WAUGH HAD A BUSINESS RELATIONSHIP IN 2010. MR. BRUECKNER IS CHAIRMAN (& CEO THROUGH OCTOBER 2010) OF PERSHING LLC, WHICH PERFORMS CLEARING SERVICES FOR DEUTSCHE BANK AMERICAS, FOR WHICH MR. WAUGH SERVES AS CEO. BOARD MEMBERS RICHARD F. BRUECKNER AND W. DENNIS FERGUSON HAD A BUSINESS RELATIONSHIP IN 2010. MR. BRUECKNER IS CHAIRMAN (& CEO THROUGH OCTOBER 2010) OF PERSHING LLC, WHICH DOES BUSINESS WITH STERNE AGEE CLEARING, FOR WHICH MR. FERGUSON SERVES AS PRESIDENT. BOARD MEMBERS RICHARD F. BRUECKNER AND JAMES D. WEDDLE HAD A BUSINESS RELATIONSHIP DURING 2010. MR. BRUECKNER IS A MEMBER OF THE EXECUTIVE COMMITTEE OF BNY MELLON, WHICH PROVIDES CUSTODIAL SERVICES FOR EDWARD JONES, OF WHICH MR. WEDDLE IS THE MANAGING PARTNER. JOHN J. BRENNAN AND MARK S. CASADY HAD A BUSINESS RELATIONSHIP DURING 2010 AS MR. CASADY IS CHAIRMAN AND CEO OF LPL FINANCIAL AND MR. BRENNAN SERVES AS A BOARD MEMBER. JOHN J. BRENNAN AND ELLYN L. BROWN HAD A BUSINESS RELATIONSHIP DURING 2010 AS THEY SERVE TOGETHER AS TRUSTEES OF THE FINANCIAL ACCOUNTING FOUNDATION. STEPHEN LUPARELLO AND GARY H. STERN HAD A BUSINESS RELATIONSHIP DURING 2010 AS THEY SERVE TOGETHER ON THE BOARD OF DEPOSITORY TRUST CLEARING CORPORATION. THE FOLLOWING BOARD MEMBERS ALSO SERVED TOGETHER AS MEMBERS OF THE BOARD OF NYSE REGULATION, INC. DURING 2010: JAMES F. DUFFY (ALSO INTERIM CEO OF NYSE REGULATION, INC. THROUGH JULY 2010) ELLYN L. BROWN (ALSO NYSE EURONEXT) DR. SHIRLEY ANN JACKSON (ALSO NYSE EURONEXT) RICHARD S. PECHTER JOHN W. SCHMIDLIN KURT P. STOCKER | FORM 990, PART VI, LINE 2 |
| DESCRIPTION OF CLASSES OF MEMBERS OR STOCKHOLDERS | FINRA IS ORGANIZED AS A NONSTOCK, NOT-FOR-PROFIT, MEMBERSHIP CORPORATION. NO REVENUES OR EARNINGS MAY BE USED FOR THE BENEFIT OF ANY INDIVIDUAL OR MEMBER. ANY REGISTERED BROKER, DEALER, MUNICIPAL SECURITIES BROKER OR DEALER, OR GOVERNMENT SECURITIES BROKER OR DEALER IS ELIGIBLE FOR MEMBERSHIP IN THE CORPORATION, EXCEPT FOR THOSE WHO FAIL OR CEASE TO SATISFY THE CORPORATION'S QUALIFICATION REQUIREMENTS, OR BECOMES DISQUALIFIED, OR FAILS TO FILE CERTAIN FORMS AS THE CORPORATION PRESCRIBES. THE MEMBERS OF THE CORPORATION GENERALLY HAVE NO VOTING RIGHTS, OTHER THAN TO VOTE ON (1) AMENDMENTS TO THE BY-LAWS OF THE CORPORATION, (2) BUSINESS RAISED DURING THE ANNUAL OR SPECIAL MEETINGS OF MEMBERS, (3) THE ELECTION OF THE SMALL FIRM, MID-SIZED FIRM AND LARGE FIRM GOVERNORS, OR (4) OTHERWISE PROVIDED BY THE GENERAL CORPORATION LAW OF THE STATE OF DELAWARE OR FINRA'S RESTATED CERTIFICATE OF INCORPORATION. SMALL FIRM MEMBERS (ANY BROKER OR DEALER ADMITTED TO MEMBERSHIP IN THE CORPORATION WHICH, AT THE TIME OF DETERMINATION, HAS AT LEAST 1 AND NO MORE THAN 150 REGISTERED PERSONS) ARE ENTITLED TO VOTE FOR THE ELECTION OF THE THREE SMALL FIRM GOVERNORS, MID-SIZE FIRM MEMBERS (AT LEAST 151 AND NO MORE THAN 499 REGISTERED PERSONS) ARE ENTITLED TO VOTE FOR THE ELECTION OF THE SINGLE MID-SIZE FIRM GOVERNOR, AND LARGE FIRM MEMBERS (500 OR MORE REGISTERED PERSONS) ARE ENTITLED TO VOTE FOR THE ELECTION OF THE THREE LARGE FIRM GOVERNORS. | FORM 990, PART VI, LINE 6 |
| DESCRIPTION OF CLASSES OF PERSONS AND THE NATURE OF THEIR RIGHTS | SMALL FIRM MEMBERS ARE ENTITLED TO VOTE FOR THE ELECTION OF SMALL FIRM GOVERNORS, MID-SIZE FIRM MEMBERS ARE ENTITLED TO VOTE FOR THE ELECTION OF MID-SIZE FIRM GOVERNORS, LARGE FIRM MEMBERS ARE ENTITLED TO VOTE FOR THE ELECTION OF LARGE FIRM GOVERNORS, IN ACCORDANCE WITH THE PROCEDURES FOR SUCH A VOTE AS PROVIDED IN THE CORPORATION'S BY-LAWS. | FORM 990, PART VI, LINE 7A |
| CLASSES OF PERSONS, DECISIONS REQUIRING APPROVAL & TYPE OF VOTING RIGHTS | THE CORPORATION'S MEMBERS ARE ENTITLED TO VOTE ON ANY AMENDMENT TO THE BY-LAWS OF THE CORPORATION, IN ACCORDANCE WITH THE PROCEDURES FOR SUCH A VOTE AS PROVIDED IN THE CORPORATION'S BY-LAWS. | FORM 990, PART VI, LINE 7B |
| PROCESS USED TO REVIEW FORM 990 | 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 2010 FORM 990 ON SEPTEMBER 21, 2011. 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. EMPLOYEES ARE REQUIRED 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 BOARD OF GOVERNORS (THE "COMPENSATION 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 NOVEMBER 18, 2009, JANUARY 27, 2010, AND AGAIN ON FEBRUARY 9, 2010 TO ESTABLISH INCENTIVE COMPENSATION ATTRIBUTABLE TO THE PERFORMANCE OF SERVICES DURING CALENDAR YEAR 2009 AND TO ESTABLISH BASE SALARIES FOR CALENDAR YEAR 2010. THE COMMITTEE ENGAGED MERCER, INC. ("MERCER"), A THIRD-PARTY COMPENSATION CONSULTANT, TO PREPARE A COMPENSATION STUDY FOR REVIEW AT THESE MEETINGS. THE COMPENSATION STUDY INCLUDED THE COMPENSATION LEVELS DURING 2009 FOR ALL OF THE EXECUTIVES UNDER CONSIDERATION AS WELL AS COMPETITIVE COMPENSATION INFORMATION FOR EXECUTIVES EMPLOYED BY A MIX OF PUBLIC AND PRIVATE FINANCIAL INSTITUTIONS, INCLUDING BROKERAGE/BANKING FIRMS, SECURITIES EXCHANGES AND REGULATORS, THAT MERCER BELIEVED TO BE APPROPRIATE FOR COMPARISON PURPOSES TO FINRA. THE COMMITTEE'S MINUTES OF THE NOVEMBER 18, 2009, JANUARY 27, 2010 AND FEBRUARY 9, 2010 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 2009 INCENTIVE COMPENSATION OF THE CEO AT ITS TELEPHONIC MEETING ON FEBRUARY 10, 2010. ALL COMPENSATION COMMITTEE MEMBERS VOTED FOR THE PROPOSED LEVEL OF EXECUTIVE COMPENSATION. | FORM 990, PART VI, LINES 15A AND 15B |
| AVAILABILITY OF THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT | FORM 990, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND THE FINRA CONSOLIDATED AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. | OF INTEREST POLICY, 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: FINRA REGULATION, INC., FINRA DISPUTE RESOLUTION, INC. AND FINRA INVESTOR EDUCATION FOUNDATION. | FORM 990, PART VII, COLUMN B - ESTIMATED AVERAGE PER WEEK |
| 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/(LOSS) ON INVESTMENTS. FOR ADDITIONAL INFORMATION PLEASE SEE THE 2010 FINRA ANNUAL FINANCIAL REPORT WHICH IS AVAILABLE ON WWW.FINRA.ORG. | FORM 990, PART XI, LINE 5 |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI (2 entries)
| Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|
| SECURITIES DEALERS AGENCY LLC | ||
| INSURANCE | DE | NA |
| NASD INST FOR PROFESSIONAL DEVELOPMENT | ||
| EDUCATION | DE | NA |
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 | Public Charity StatusPublicCharityStatus | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|---|---|---|---|---|---|---|
| FINRA REGULATION INC | |||||||||
| 1735 K STREET NW | WASHINGTON | DC | 200061506 | 521959501 | REGULATION | DE | 501(C)(6) | N/A | FINRA |
| FINRA DISPUTE RESOLUTION INC | |||||||||
| 1735 K STREET NW | WASHINGTON | DC | 200061506 | 522187577 | ARBITRATION | DE | 501(C)(6) | N/A | FINRA |
| FINRA INVESTOR EDUCATION FOUNDATION | |||||||||
| 1735 K STREET NW | WASHINGTON | DC | 200061506 | 200863779 | EDUCATION | DE | 501(C)(4) | N/A | FINRA |
Form990 Schedule R Part IV Form990ScheduleRPartIV (5 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Type Of EntityTypeOfEntity | Percentage OwnershipPercentageOwnership | Address Line1AddressForeign/AddressLine1 | CityAddressForeign/City | CountryAddressForeign/Country | Legal Domicile Foreign CountryLegalDomicileForeignCountry | Direct Controlling Entity NADirectControllingEntityNA | Postal CodeAddressForeign/PostalCode |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NEW NASD HOLDING INC | |||||||||||||||
| 1735 K STREET NW | WASHINGTON | DC | 200061506 | 522307595 | HOLDING COMPANY | DE | NA | C CORP | 1.00000 | ||||||
| SECURITIES DEALERS RISK PURCHASING GROUP | |||||||||||||||
| 1735 K STREET NW | WASHINGTON | DC | 200061506 | 521953595 | PURCHASE INSURANC | DE | NA | C CORP | 1.00000 | ||||||
| NATIONAL CLEARING CORPORATION | |||||||||||||||
| 1735 K STREET NW | WASHINGTON | DC | 200061506 | 131971649 | INACTIVE | DE | NA | C CORP | 1.00000 | ||||||
| SECURITIES DEALERS INSURANCE CO | |||||||||||||||
| INSURANCE | C CORP | 1.00000 | VICTORIA HALL 11 VICTORIA STREET | HM 11 HAMILTON | BD | BD | N/A | ||||||||
| FINRA LIMITED | |||||||||||||||
| EDUCATIONAL | NA | C CORP | 1.00000 | 35 NEW BROAD STREET | LONDON | UK | UK | EC2MNH | |||||||
| 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 | true | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | true | 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 (6 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved |
|---|---|
| FINRA INVESTOR EDUCATION FOUNDATION | |
| N | 3322067 |
| FINRA INVESTOR EDUCATION FOUNDATION | |
| P | 105041 |
| FINRA REGULATION INC | |
| O | 274976883 |
| FINRA REGULATION INC | |
| P | 26974847 |
| FINRA DISPUTE RESOLUTION INC | |
| O | 686363 |
| FINRA DISPUTE RESOLUTION INC | |
| P | 903447 |