FINRA INVESTOR EDUCATION FOUNDATION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- FINRA INVESTOR EDUCATION FOUNDATION (EIN 20-0863779)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-15
- IRS object ID
- 202433209349321658
- Schema version
- 2023v5.1
- 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) |
|---|---|---|
| Return | 2024-11-15T15:40:09+00:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 346565596 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ERNST & YOUNG US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 221 E 4TH STREET SUITE 2900 | AddressLine1Txt |
| City | CINCINNATI | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 45202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 200863779 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FINRA Investor Education Foundation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FINR | BusinessNameControlTxt |
| Phone | 2027288949 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 9509 KEY WEST AVENUE | AddressLine1Txt |
| City | ROCKVILLE | CityNm |
| State Abbreviation | MD | StateAbbreviationCd |
| ZIP | 20850 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ROBERT W COOK | PersonNm |
| Person Title | CHAIRMAN AND CEO | PersonTitleTxt |
| Signature | 2024-11-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Julie L Sparks | PreparerPersonNm |
| PTIN | P01268401 | PTIN |
| Phone | 5136121400 | PhoneNum |
| Preparation | 2023-11-14 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Geraldine M Walsh | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1700 K STREET NW | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 200061506 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $26,437,228 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.FINRAFOUNDATION.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2004 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | THE MISSION IS TO EMPOWER UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS TO MAKE SOUND FINANCIAL DECISIONS THROUGHOUT LIFE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 6 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 5 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 5 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $5,860,131 | PYContributionsGrantsAmt |
| CY Contributions Grants | $6,980,741 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,987,763 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,416,355 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $9,847,894 | PYTotalRevenueAmt |
| CY Total Revenue | $9,397,096 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $557,298 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $456,441 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $3,689,172 | PYOtherExpensesAmt |
| CY Other Expenses | $4,588,924 | CYOtherExpensesAmt |
| PY Total Expenses | $4,246,470 | PYTotalExpensesAmt |
| CY Total Expenses | $5,045,365 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $5,601,424 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,351,731 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $68,490,035 | TotalAssetsBOYAmt |
| Total Assets EOY | $79,051,155 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $584,888 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,206,167 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $67,905,147 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $77,844,988 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE MISSION IS TO EMPOWER UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS TO MAKE SOUND FINANCIAL DECISIONS THROUGHOUT LIFE. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $2,717,396 | ExpenseAmt |
| Grant | $367,619 | GrantAmt |
| Desc | FOSTER SUSTAINABLE, INCLUSIVE FINANCIAL CAPABILITY - See Schedule O | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $1,084,580 | ExpenseAmt |
| Grant | $74,915 | GrantAmt |
| Desc | UNDERTAKE AND SUPPORT RESEARCH TO IMPROVE CONSUMER FINANCIAL OUTCOMES - See Schedule O | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $949,661 | ExpenseAmt |
| Desc | PROTECT CONSUMERS FROM FINANCIAL FRAUD AND AMELIORATE THE CONSEQUENCES OF FRAUD - See Schedule O | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $80,978 | ExpenseAmt |
| Grant | $13,907 | GrantAmt |
| Desc | COMMUNICATE RESEARCH FINDINGS AND INNOVATIONS. THE FOUNDATION LEVERAGES ONLINE, SOCIAL MEDIA, PRINT, AND IN-PERSON DISTRIBUTION CHANNELS TO ADVANCE THE FINANCIAL INCLUSION AND CAPABILITY OF UNDERSERVED GROUPS AND TO PROVIDE DECISION-MAKERS WITH AN EMPIRICAL UNDERSTANDING OF FINANCIAL INCLUSION/EXCLUSION IN THE U.S. THE FOUNDATION PUBLISHES NFCS DATA SETS, METHODOLOGICAL DOCUMENTS, AND FINDINGS IN USER-FRIENDLY FORMATS, PARTICIPATES IN AND DIRECTS RESEARCH AND OTHER PROFESSIONAL FORUMS, AND PROMOTES THE WORK OF BOTH SEASONED LEADERS AND YOUNG RESEARCHERS ACTIVE IN THE FIELD OF FINANCIAL CAPABILITY. IN FURTHERANCE OF THIS GOAL, THE FOUNDATION MAINTAINS ALLIANCES WITH FEDERAL AGENCIES, STATE GOVERNMENT, AND LEADING NONPROFIT ORGANIZATIONS ACTIVE IN THE FIELD OF FINANCIAL CAPABILITY. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $80,978 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $13,907 | TotalOtherProgSrvcGrantAmt |
| Total Program Service Expenses | $4,832,615 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (true) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | false | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | Yes (true) | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (true) | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| Info In Schedule O Part V | Yes (X) | InfoInScheduleOPartVInd |
| IRP Document | 16 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 6 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 5 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Jennifer P Mitchell | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2027288949 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1700 K Street NW | AddressLine1Txt |
| City | Washington | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 200061506 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (9 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd |
|---|---|---|---|---|---|---|---|
| John W Thiel | |||||||
| Board Member | 1.0 | 2.0 | Yes (X) | $0 | $40,000 | $0 | |
| Laura Fisher | |||||||
| Board Member | 1.0 | 0 | Yes (X) | $0 | $0 | $0 | |
| Mari J Buechner | |||||||
| Board Member | 1.0 | 0 | Yes (X) | $0 | $0 | $0 | |
| MENEKSE GENCER | |||||||
| BOARD MEMBER | 1.0 | 0 | Yes (X) | $0 | $0 | $0 | |
| PEGGY HO | |||||||
| BOARD MEMBER | 1.0 | 2.0 | Yes (X) | $0 | $100,179 | $0 | |
| Robert W Cook | |||||||
| Chairman | 1.0 | 59.0 | Yes (X) | $0 | $3,243,336 | $595,811 | |
| Eileen M Famiglietti | |||||||
| Treasurer | 6.0 | 54.0 | $0 | $550,638 | $168,612 | Yes (X) | |
| Geraldine M Walsh | |||||||
| President | 48.0 | 12.0 | $0 | $582,234 | $125,303 | Yes (X) | |
| Jennifer P Mitchell | |||||||
| Corporate Secretary | 3.0 | 57.0 | $0 | $487,158 | $105,514 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $5,003,545 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $995,240 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION | |||||
| 79 S STATE STREET | WESTERVILLE | OH | 43081 | SEE SCHEDULE O | $411,761 |
| AMERICAN LIBRARY ASSOCIATION | |||||
| 6499 NETWORK PLACE | CHICAGO | IL | 60673 | SEE SCHEDULE O | $400,000 |
| GIRL SCOUTS OF THE USA | |||||
| PO BOX 5946 | NEW YORK | NY | 10087 | SEE SCHEDULE O | $377,000 |
| FGS GLOBAL LLC | |||||
| 909 THIRD AVENUE | NEW YORK | NY | 10022 | SEE SCHEDULE O | $374,750 |
| AARP | |||||
| 32OO E CARSON STREET | LAKEWOOD | CA | 90712 | SEE SCHEDULE O | $162,500 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 9 | CntrctRcvdGreaterThan100KCnt |
| Federated Campaigns | $0 | FederatedCampaignsAmt |
| Membership Dues | $0 | MembershipDuesAmt |
| Fundraising | $0 | FundraisingAmt |
| Related Organizations | $6,980,741 | RelatedOrganizationsAmt |
| Government Grants | $0 | GovernmentGrantsAmt |
| All Other Contributions | $0 | AllOtherContributionsAmt |
| Noncash Contributions | $0 | NoncashContributionsAmt |
| Total Contributions | $6,980,741 | TotalContributionsAmt |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $0 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,792,618 | TotalRevenueColumnAmt |
| Exclusion | $1,792,618 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $17,663,869 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $17,040,132 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $623,737 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $623,737 | TotalRevenueColumnAmt |
| Exclusion | $623,737 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
| Gaming Gross Income | $0 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
| Gross Sales Of Inventory | $0 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $9,397,096 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,416,355 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $442,534 | TotalAmt |
| Program Services | $442,534 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,907 | TotalAmt |
| Program Services | $13,907 | ProgramServicesAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $53,376 | TotalAmt |
| Management And General | $53,376 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $85,573 | TotalAmt |
| Management And General | $85,573 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,043,803 | TotalAmt |
| Program Services | $4,043,472 | ProgramServicesAmt |
| Management And General | $331 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,185 | TotalAmt |
| Program Services | $27,185 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,990 | TotalAmt |
| Program Services | $9,502 | ProgramServicesAmt |
| Management And General | $488 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,346 | TotalAmt |
| Program Services | $24,082 | ProgramServicesAmt |
| Management And General | $264 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $98,373 | TotalAmt |
| Program Services | $49,852 | ProgramServicesAmt |
| Management And General | $48,521 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $155,714 | TotalAmt |
| Program Services | $141,239 | ProgramServicesAmt |
| Management And General | $14,475 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| Dues/Membership Fee | $29,000 | $27,500 | $1,500 |
| PUBLICATIONS/PRINTING | $23,053 | $23,024 | $29 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,511 | TotalAmt |
| Program Services | $30,318 | ProgramServicesAmt |
| Management And General | $8,193 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,045,365 | TotalAmt |
| Program Services | $4,832,615 | ProgramServicesAmt |
| Management And General | $212,750 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $832,312 | BOYAmt |
| EOY | $999,675 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,840 | BOYAmt |
| EOY | $4,199,920 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,761 | BOYAmt |
| EOY | $298,634 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $0 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $0 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $55,316,022 | BOYAmt |
| EOY | $62,741,532 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,229,105 | BOYAmt |
| EOY | $10,671,643 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $81,995 | BOYAmt |
| EOY | $139,751 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $68,490,035 | BOYAmt |
| EOY | $79,051,155 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $582,188 | BOYAmt |
| EOY | $1,206,165 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,700 | BOYAmt |
| EOY | $2 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $584,888 | BOYAmt |
| EOY | $1,206,167 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,829,636 | BOYAmt |
| EOY | $77,770,848 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,511 | BOYAmt |
| EOY | $74,140 | EOYAmt |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,905,147 | BOYAmt |
| EOY | $77,844,988 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $68,490,035 | BOYAmt |
| EOY | $79,051,155 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $4,351,731 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $5,608,109 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $3,019,488 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $85,573 | InvestmentExpenseAmt |
| Other Changes In Net Assets | -$3,125,060 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $75,511 | BeginningYearBalanceAmt |
| Contributions | $0 | ContributionsAmt |
| Investment Earnings Or Losses | $3,629 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $5,000 | GrantsOrScholarshipsAmt |
| End Year Balance | $74,140 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $79,591 | BeginningYearBalanceAmt |
| Contributions | $0 | ContributionsAmt |
| Investment Earnings Or Losses | $920 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $5,000 | GrantsOrScholarshipsAmt |
| Other Expenditures | $0 | OtherExpendituresAmt |
| Administrative Expenses | $0 | AdministrativeExpensesAmt |
| End Year Balance | $75,511 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $84,568 | BeginningYearBalanceAmt |
| Contributions | $0 | ContributionsAmt |
| Investment Earnings Or Losses | $23 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $5,000 | GrantsOrScholarshipsAmt |
| Other Expenditures | $0 | OtherExpendituresAmt |
| Administrative Expenses | $0 | AdministrativeExpensesAmt |
| End Year Balance | $79,591 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $89,123 | BeginningYearBalanceAmt |
| Contributions | $0 | ContributionsAmt |
| Investment Earnings Or Losses | $445 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $5,000 | GrantsOrScholarshipsAmt |
| Other Expenditures | $0 | OtherExpendituresAmt |
| Administrative Expenses | $0 | AdministrativeExpensesAmt |
| End Year Balance | $84,568 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $92,161 | BeginningYearBalanceAmt |
| Contributions | $0 | ContributionsAmt |
| Investment Earnings Or Losses | $1,962 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $5,000 | GrantsOrScholarshipsAmt |
| Other Expenditures | $0 | OtherExpendituresAmt |
| Administrative Expenses | $0 | AdministrativeExpensesAmt |
| End Year Balance | $89,123 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.0 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.0 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 1.0 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | false | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | false | EndowmentsHeldRelatedOrgInd |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Pooled Investment Funds | Desc |
| Book Value | $10,671,643 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $10,671,643 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DUE TO RELATED ORGANIZATION | Desc |
| Amt | $2 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $17,939,120 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $5,608,109 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $3,019,488 | DonatedServicesAndUseFcltsAmt |
| Other Revenue | $0 | OtherRevenueAmt |
| Revenue Not Reported | $8,627,597 | RevenueNotReportedAmt |
| Revenue Subtotal | $9,311,523 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $85,573 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $0 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $85,573 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $9,397,096 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $7,999,280 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $3,019,488 | DonatedServicesUseFcltsAmt |
| Prior Year Adjustments | $20,000 | PriorYearAdjustmentsAmt |
| Other Expenses Included | $0 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $3,039,488 | ExpensesNotReportedAmt |
| Expenses Subtotal | $4,959,792 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $85,573 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $0 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $85,573 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $5,045,365 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part V, Line 4 Intended uses of endowment funds | IN 2016, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. (FINRA) CONTRIBUTED A ONE-TIME DONOR-RESTRICTED CONTRIBUTION OF $0.1 MILLION TO THE FINRA INVESTOR EDUCATION FOUNDATION, INC. (THE FOUNDATION) . THE DONOR-RESTRICTED CONTRIBUTION FUNDED THE KETCHUM SCHOLARS PROGRAM, FORMERLY THE KETCHUM PRIZE FUND, NAMED FOR FORMER FINRA CHAIRMAN AND CHIEF EXECUTIVE OFFICER AND FOUNDATION CHAIRMAN RICHARD G. KETCHUM, TO AWARD AN ANNUAL PRIZE IN HONOR OF THE EXEMPLARY CONTRIBUTIONS TO THE FIELD OF INVESTOR PROTECTION AND FINANCIAL CAPABILITY IN THE UNITED STATES. |
| Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote | The Foundation is a tax-exempt organization under Section 501(c)(4) of the Internal Revenue Code and, accordingly, has made no provision for Federal or State income taxes. For the years ended December 31, 2020, through December 31, 2023, which represent the periods management considers to be open for examination by taxing authorities, management did not identify the existence of any uncertain tax positions. |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | Central America and the Caribbean | RegionTxt |
| Offices | 0 | OfficesCnt |
| Employee | 0 | EmployeeCnt |
| Type Of Activities Conducted | Investments | TypeOfActivitiesConductedTxt |
| Region Total Expenditures | $10,671,643 | RegionTotalExpendituresAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $10,671,643 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $10,671,643 | TotalSpentAmt |
| Transfer To Foreign Corp | Yes (true) | TransferToForeignCorpInd |
| Interest In Foreign Trust | false | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (true) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | false | PassiveForeignInvestmestCoInd |
| Foreign Partnership | false | ForeignPartnershipInd |
| Boycott Countries | false | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements | FormAndLineReferenceDesc |
| Explanation | CENTRAL AMERICA AND THE CARIBBEAN-Accrual | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (18 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|
| CLAYTON COLLABORATIVE AUTHORITY | |||||||
| 696 MOUNT ZION ROAD | JONESBORO | GA | 30236 | 582516726 | 501(C)(3) | $25,000 | To enable the Clayton County Library System to integrate activity-based financial education experiences into entrepreneurship and workforce development efforts, especially those related to the region's film industry. |
| EBRI | |||||||
| PO BOX 23146 | WASHINGTON | DC | 20026 | 521190398 | 501(C)(3) | $23,748 | To examine trends in aggregate out-of-pocket healthcare spending by type of health plan and analyze how cost-sharing has been changing due to shifts toward less comprehensive and/or high-deductible insurance plans. |
| FARMINGTON PUBLIC LIBRARY FNDT | |||||||
| 2101 FARMINGTON AVE | FARMINGTON | NM | 87401 | 850365466 | 501(C)(3) | $25,000 | To collaborate with a coalition of public- and private-sector partners to deliver multigenerational financial capability experiences and services informed by an interactive polling process to ensure alignment with community priorities. |
| FNDT FOR BALTIMORE CTY PUBLIC LIBRARY | |||||||
| 320 YORK ROAD | TOWSON | MD | 21204 | 521695801 | 501(C)(3) | $24,915 | To undertake financial capability programming for various age groups with the aim of building generational wealth, especially within high-need and underserved communities. |
| LA CASA DE ESPERANZA | |||||||
| 420 ARCADIAN AVENUE | WAUKESHA | WI | 53166 | 391144446 | 501(C)(3) | $20,000 | To advance a collaborative and sustainable workplace financial wellness initiative. |
| MEMORIAL LIBRARY OF NAZARETH & VICINITY | |||||||
| 295 EAST CENTER ST | NAZARETH | PA | 18064 | 246019434 | 501(C)(3) | $10,788 | To deliver a diverse array of sustainable financial capability experiences for teens and adults, supplemented by concurrent programming for children, giving particular attention to preparing financially for college, saving money, the psychology of money, managing debt, credit health, and mastering the basics of financial literacy. |
| NOVA SOUTHEASTERN UNIVERSITY | |||||||
| 3300 S UNIVERSITY DR | FT LAUDERDALE | FL | 33328 | 591083502 | 501(C)(3) | $25,000 | To enable Alvin Sherman Library at Nova Southeastern University to educate and counsel Broward County veterans on financial literacy, sustainable homeownership, and foreclosure and homelessness prevention. |
| ORANGE COUNTY LIBRARY DISTRICT | |||||||
| 101 EAST CENTRAL BLVD | ORLANDO | FL | 32801 | 502045143 | SECTION 115 | $24,965 | To collaborate with the University of Central Florida to help English language learners acquire essential personal finance skills and knowledge. |
| OSCEOLA LIBRARY SYSTEM | |||||||
| 1392 E VINE STREET | KISSIMMEE | FL | 34744 | 596000780 | SECTION 115 | $9,661 | To expand personal finance collections and share fraud prevention messages to help residents in the county make well-informed financial decisions following a FEMA-declared major natural disaster. |
| RESEARCH FNDT CITY UNIVERSITY OF NY | |||||||
| 230 W 41ST ST | NEW YORK | NY | 10036 | 131988190 | 501(C)(3) | $24,819 | To enable LaGuardia Community College Library to provide financial and investor education to college students and the wider community using Open Educational Resources, giving particular attention to the challenges experienced by lower-income households when living in high-cost urban areas. |
| SARA HIGHTOWER REGIONAL LIBRARY SYSTEM | |||||||
| 205 RIVERSIDE PARKWAY | ROME | GA | 30161 | 586002877 | SECTION 115 | $25,000 | To partner with the University of West Georgia's Center for Economic Education and Financial Literacy to deliver customized financial education for adults, teens, and children, especially in ways that align with existing social service initiatives maintained by local nonprofits and agencies. |
| SOUTH ARKANSAS COLLEGE | |||||||
| 330 SOUTH WEST AVE | EL DORADO | AR | 71731 | 710718748 | SECTION 115 | $23,562 | To deliver sustained financial education for secondary school students in the region, with a particular focus on students participating in Upward Bound, a federal initiative designed to help young people from low-income households complete high school and successfully pursue postsecondary education. |
| UNITED WAY OF GREATER NEW BEDFORD | |||||||
| 128 UNION STREET | NEW BEDFORD | MA | 02740 | 042104264 | 501(C)(3) | $20,000 | To advance a collaborative and sustainable workplace financial wellness initiative. |
| UNITED WAY OF NORTHWEST VERMONT | |||||||
| 412 FARRELL STREET | SOUTH BURLINGTON | VT | 05403 | 030217229 | 501(C)(3) | $20,000 | To advance a collaborative and sustainable workplace financial wellness initiative. |
| UNIVERSITY OF TENNESSEE EXTENSION | |||||||
| 121 MORGAN HALL | KNOXVILLE | TN | 37996 | 626001636 | 501(C)(3) | $51,168 | To examine the condition of financial education in high schools across Tennessee, giving particular attention to Title I schools and comparing the situation in urban, suburban, and rural schools. |
| UNIVERSITY OF WISCONSIN-MADISON | |||||||
| 21 N PARK STREET | MADISON | WI | 53715 | 396006492 | SECTION 115 | $20,000 | To advance a collaborative and sustainable workplace financial wellness initiative. |
| VOLUSIA COUNTY PUBLIC LIBRARY | |||||||
| 123 W INDIANA AVENUE | DELAND | FL | 32720 | 596000885 | SECTION 115 | $10,000 | To expand personal finance collections and share fraud prevention messages to help residents in the county make well-informed financial decisions following a FEMA-declared major natural disaster. |
| WEST GEORGIA REGIONAL LIBRARY SYSTEM | |||||||
| 121W CHANDLER STREET | CARROLLTON | GA | 30117 | 586003107 | SECTION 115 | $25,000 | To collaborate with the University of West Georgia's Center for Economic Education and Financial Literacy to roll out "Financial Literacy on Wheels," an initiative that brings personal finance experiences to lower-income and underserved families in the region through enhanced bookmobile services. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 18 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | 2023 KETCHUM SCHOLARS FUND FOR OUTSTANDING SERVICE AND RESEARCH TO ADVANCE INVESTOR PROTECTION AND FINANCIAL CAPABILITY IN THE U.S. | GrantTypeTxt |
| Recipient | 1 | RecipientCnt |
| Cash Grant | $10,000 | CashGrantAmt |
| Non Cash Assistance | $3,907 | NonCashAssistanceAmt |
| Valuation Method Used | COST | ValuationMethodUsedDesc |
| Non Cash Assistance | Plaque | NonCashAssistanceDesc |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. | FormAndLineReferenceDesc |
| Explanation | FOLLOWING APPROVAL OF A GRANT APPLICATION BY THE BOARD OF DIRECTORS, THE FOUNDATION EXECUTES A GRANT AGREEMENT WITH THE APPLICANT. THIS AGREEMENT SPECIFIES THE TERMS AND CONDITIONS OF THE GRANT, AS WELL AS THE REPORTING AND PAYMENT SCHEDULE. NARRATIVE AND FINANCIAL PROGRESS REPORTS AND ALL DELIVERABLES ARE REVIEWED BY THE FOUNDATION TO ENSURE QUALITY AND COMPLIANCE WITH THE GRANT AGREEMENT. IN ADDITION TO PROGRESS REPORTS, GRANTEES ARE REQUIRED TO COMPLETE A FINAL NARRATIVE AND FINANCIAL REPORT DETAILING PROJECT OUTCOMES AND ACCOUNTING FOR THE USE OF FUNDS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Robert W Cook | ||||||||||||||
| Chairman | $0 | $1,059,762 | $0 | $2,150,000 | $0 | $33,574 | $0 | $588,753 | $0 | $7,058 | $0 | $3,839,147 | $0 | $0 |
| Eileen M Famiglietti | ||||||||||||||
| Treasurer | $0 | $324,117 | $0 | $172,900 | $0 | $53,621 | $0 | $126,899 | $0 | $41,713 | $0 | $719,250 | $0 | $31,472 |
| Jennifer P Mitchell | ||||||||||||||
| Corporate Secretary | $0 | $284,794 | $0 | $200,000 | $0 | $2,364 | $0 | $59,783 | $0 | $45,731 | $0 | $592,672 | $0 | $0 |
| Geraldine M Walsh | ||||||||||||||
| President | $0 | $353,383 | $0 | $200,000 | $0 | $28,851 | $0 | $115,306 | $0 | $9,997 | $0 | $707,537 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan | 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. IT IS A FINRA-FUNDED PLAN WITH A THREE YEAR VESTING CYCLE WITH ANNUAL VESTING BEGINNING AT AGE 62. PARTICIPANTS IN THE SUPPLEMENTAL NON-QUALIFIED DEFINED CONTRIBUTION PLAN WHO HAD A VESTING EVENT OR RECEIVED A PAYOUT DURING TAX YEAR 2023: Eileen M. Famiglietti - $50,061 (vesting) |
| Schedule J, Part I, Line 3 | THE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. ALL SERVICES ARE PROVIDED BY EMPLOYEES OF FINRA OR ITS SUBSIDIARIES. THE FOUNDATION DOES NOT COMPENSATE THESE EMPLOYEES FOR THEIR SERVICES. Line 3) COMPENSATION FOR THE CEO/EXECUTIVE DIRECTOR IS ESTABLISHED AT AND PAID BY THE PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FOR FURTHER DETAILS REGARDING COMPENSATION OF OFFICERS, PLEASE REFER TO THE 2023 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 OF THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (17 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part III, Line 4a | FOSTER SUSTAINABLE, INCLUSIVE FINANCIAL CAPABILITY (2023 ALLOCATION: $2,717,396 INCLUDING GRANTS OF $367,619). THE FOUNDATION SUPPORTS AND MANAGES PERSONAL FINANCE PROGRAMS, PROFESSIONAL TRAINING, AND SERVICES TO ASSIST A WIDE VARIETY OF AUDIENCES IN COMMUNITIES OF NEED, AT THE WORKPLACE, AND IN THE MILITARY. THESE EFFORTS COMPRISE INCLUSIVE AND INNOVATIVE INITIATIVES THAT IMPROVE FINANCIAL STABILITY, FINANCIAL PLANNING, INVESTING KNOWLEDGE AND DECISION-MAKING, PARTICIPATION IN THE CAPITAL MARKETS, AND EQUITABLE ACCESS TO FINANCIAL CAPABILITY RESOURCES AND EDUCATION IN UNDERSERVED COMMUNITIES. THE FOUNDATION'S FINANCIAL WELLNESS AT WORK PROJECT, ADMINISTERED IN COLLABORATION WITH UNITED WAY WORLDWIDE, HELPS NONPROFITS IN THE COMMUNITY PROVIDE WORKPLACE FINANCIAL WELLNESS SERVICES FOR LOWER-INCOME EMPLOYEES. THE PROJECT PROVIDES PROFESSIONAL DEVELOPMENT INSTITUTES, MODEL PROGRAMS AND SERVICES, GRANT FUNDING, AND OPPORTUNITIES TO SHARE BEST PRACTICES. IN ADDITION, THE FOUNDATION AND THE AMERICAN LIBRARY ASSOCIATION HAVE WORKED TOGETHER SINCE 2007 TO BUILD THE CAPACITY OF PUBLIC LIBRARIES TO HELP PATRONS, YOUNG AND ADULT, LEARN ABOUT MONEY AND ACHIEVE FINANCIAL GOALS. THIS SUPPORT HAS ENCOMPASSED THE DEVELOPMENT OF MODEL FINANCIAL EDUCATION PROGRAMS AND EXHIBITS AT LIBRARIES, COLLECTION DEVELOPMENT, ASSISTANCE FOR LIBRARIES HELPING FAMILIES RECOVER FINANCIALLY FROM MAJOR NATURAL DISASTERS, THE PROVISION OF JUST-IN-TIME INFORMATION MATERIALS, AND GRANT FUNDING. THE FOUNDATION ALSO HOSTS A FULL PLATFORM OF ONLINE STAFF DEVELOPMENT COURSES CREATED BY AND FOR LIBRARY PROFESSIONALS. THE FOUNDATION'S MILITARY FINANCIAL READINESS PROJECT DELIVERS FREE, HIGH-QUALITY, UNBIASED INFORMATION AND TOOLS TO MILITARY SERVICE MEMBERS, THEIR SPOUSES, AND ON-BASE FINANCIAL COUNSELORS. THROUGH TRAINING, EDUCATION, AND OUTREACH, THE FOUNDATION INCREASES FINANCIAL EXPERTISE AND SERVICES IN MILITARY COMMUNITIES, IMPROVES THE CREDIT MANAGEMENT OF SERVICE MEMBERS AND THEIR SPOUSES, AND PROVIDES OUTREACH SERVICES TO THE MILITARY COMMUNITY. THE FOUNDATION HAS A DEPARTMENT OF DEFENSE FINANCIAL READINESS NETWORK STATEMENT OF SUPPORT AND HOLDS A UNITED STATES COAST GUARD QUALIFIED ORGANIZATION DESIGNATION. AMONG THE NONPROFIT ORGANIZATIONS THAT HAVE ENTERED INTO PARTNERSHIP AGREEMENTS WITH THE FOUNDATION AS PART OF THIS PROJECT IN 2023 IS THE ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION. THE FOUNDATION'S MANY EFFORTS TO ADVANCE FINANCIAL INCLUSION IN THE UNITED STATES INCLUDE PARTNERSHIPS WITH THE ALABAMA COUNCIL ON ECONOMIC EDUCATION, ARIZONA COUNCIL ON ECONOMIC EDUCATION, CALIFORNIA COUNCIL ON ECONOMIC EDUCATION, GEORGIA COUNCIL ON ECONOMIC EDUCATION, MARYLAND COUNCIL ON ECONOMIC EDUCATION, MISSISSIPPI COUNCIL ON ECONOMIC EDUCATION, AND BESTPREP IN MINNESOTA TO EXPAND INVESTOR EDUCATION FOR TITLE I STUDENTS IN THOSE STATES. THE FOUNDATION ALSO PARTNERS WITH GIRL SCOUTS OF THE USA TO EXPAND THE FINANCIAL EMPOWERMENT OF GIRLS, AND WITH THE SOCIETY FOR FINANCIAL EDUCATION AND PROFESSIONAL DEVELOPMENT TO ENHANCE HISTORICALLY BLACK COLLEGE & UNIVERSITY (HBCU) STUDENTS' FINANCIAL KNOWLEDGE, CAPABILITY, AND DECISION-MAKING WHILE IN COLLEGE AND BEYOND. TO BUILD FINANCIAL CAPACITY IN LATINO AND IMMIGRANT COMMUNITIES, THE FOUNDATION SUPPORTS THE TRAINING AND DEVELOPMENT EFFORTS OF THE NATIONAL ASSOCIATION FOR LATINO COMMUNITY ASSET BUILDERS. |
| Form 990, Part III, Line 4b | UNDERTAKE AND SUPPORT RESEARCH TO IMPROVE CONSUMER FINANCIAL OUTCOMES (2023 ALLOCATION: $1,084,580 INCLUDING GRANTS OF $74,915). THE FOUNDATION UNDERTAKES AND SUPPORTS RESEARCH TO IMPROVE CONSUMER FINANCIAL OUTCOMES. THIS INCLUDES RESEARCH INITIATIVES THAT PROVIDE RIGOROUS DATA AND ANALYSIS RELATED TO FINANCIAL CAPABILITY, FINANCIAL INCLUSION, AND INVESTING IN THE U.S. THE NATIONAL FINANCIAL CAPABILITY STUDY (NFCS) IS A LARGE-SCALE, MULTI-YEAR PROJECT THAT ADVANCES COMPREHENSIVE UNDERSTANDING OF THE FINANCIAL CAPABILITY OF ADULTS IN THE UNITED STATES. THE STUDY TRACKS KEY INDICATORS OF FINANCIAL CAPABILITY AND EVALUATES HOW THESE INDICATORS VARY OVER TIME WITH UNDERLYING DEMOGRAPHIC, BEHAVIORAL, ATTITUDINAL, AND FINANCIAL LITERACY CHARACTERISTICS. THE NFCS, IN TURN, INSPIRES ADDITIONAL STUDIES ON MAJOR FINANCIAL CAPABILITY ISSUES AFFECTING AMERICANS. IN ADDITION TO PROVIDING RESEARCH GRANTS AS IDENTIFIED ON SCHEDULE I, THE FOUNDATION LEADS AND ENABLES STUDIES TO HELP DECISION-MAKERS AND PRACTITIONERS ADVANCE FINANCIAL WELL-BEING IN COMMUNITIES NATIONWIDE. THE FOUNDATION'S CONSUMER INSIGHTS ON MONEY AND INVESTING SERIES EXAMINES TIMELY PERSONAL FINANCE AND INVESTING TOPICS OF IMPORTANCE TO CONSUMERS. THE FOUNDATION ALSO PURSUES AN ACTIVE RESEARCH AGENDA FOCUSING ON UNDERSTANDING AND COMBATING FINANCIAL FRAUD IN AMERICA, COGNITIVE AGING AND FINANCIAL DECISION MAKING, AND UNDERSTANDING WHAT WORKS WHEN IT COMES TO FINANCIAL EDUCATION, INCLUSION, AND PROTECTION. TO EXPAND THE PIPELINE OF RESEARCHERS, THE FOUNDATION MAINTAINS A DISSERTATION COMPLETION FELLOWSHIP PROGRAM. FELLOWSHIPS UNDER THIS INITIATIVE SUPPORT DOCTORAL CANDIDATES PURSUING RESEARCH RELATED TO FINANCIAL INCLUSION AND PARTICIPATION IN CAPITAL MARKETS BY UNDERSERVED COMMUNITIES. |
| Form 990, Part III, Line 4c | PROTECT CONSUMERS FROM FINANCIAL FRAUD AND AMELIORATE THE CONSEQUENCES OF FRAUD (2023 ALLOCATION: $949,661). THE FOUNDATION EDUCATES AMERICANS ABOUT FINANCIAL FRAUD, HOW TO AVOID AND REPORT IT, AND THE STEPS TO TAKE IF VICTIMIZED. THROUGH INCLUSIVE EDUCATION AND OUTREACH STRATEGIES, THE FOUNDATION INCREASES FRAUD PREVENTION AND AWARENESS, EMPOWERS CONSUMERS, AND TRAINS LAW ENFORCEMENT AND VICTIM ADVOCATES TO RECOGNIZE, PREVENT, AND MITIGATE THE CONSEQUENCES OF FINANCIAL FRAUD. NONPROFIT ORGANIZATIONS AND ACADEMIC INSTITUTIONS THAT HAVE ENTERED INTO PARTNERSHIP AGREEMENTS WITH THE FOUNDATION AS PART OF ITS INVESTOR PROTECTION CAMPAIGN INCLUDE THE FOLLOWING: AARP; CYBERCRIME SUPPORT NETWORK; GIVE AN HOUR; THE BBB INSTITUTE FOR MARKETPLACE TRUST; FIRST NATIONS DEVELOPMENT INSTITUTE; NATIONAL CENTER FOR VICTIMS OF CRIME; AND NATIONAL WHITE COLLAR CRIME CENTER. |
| Form 990, Part III, Line 4d Description of other program services | (Expenses $ 80,978 including grants of $ 13,907) COMMUNICATE RESEARCH FINDINGS AND INNOVATIONS. THE FOUNDATION LEVERAGES ONLINE, SOCIAL MEDIA, PRINT, AND IN-PERSON DISTRIBUTION CHANNELS TO ADVANCE THE FINANCIAL INCLUSION AND CAPABILITY OF UNDERSERVED GROUPS AND TO PROVIDE DECISION-MAKERS WITH AN EMPIRICAL UNDERSTANDING OF FINANCIAL INCLUSION/EXCLUSION IN THE U.S. THE FOUNDATION PUBLISHES NFCS DATA SETS, METHODOLOGICAL DOCUMENTS, AND FINDINGS IN USER-FRIENDLY FORMATS, PARTICIPATES IN AND DIRECTS RESEARCH AND OTHER PROFESSIONAL FORUMS, AND PROMOTES THE WORK OF BOTH SEASONED LEADERS AND YOUNG RESEARCHERS ACTIVE IN THE FIELD OF FINANCIAL CAPABILITY. IN FURTHERANCE OF THIS GOAL, THE FOUNDATION MAINTAINS ALLIANCES WITH FEDERAL AGENCIES, STATE GOVERNMENT, AND LEADING NONPROFIT ORGANIZATIONS ACTIVE IN THE FIELD OF FINANCIAL CAPABILITY. |
| Form 990, Part V, Line 15 | EXCISE TAX FOR ROBERT W. COOK, A COVERED EMPLOYEE OF THE FOUNDATION'S PARENT, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, WAS REPORTED AND PAID BY FINRA WHERE HE SERVES AS THE PRESIDENT & CEO. |
| Form 990, Part VI, Line 15 | THE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. ALL SERVICES ARE PROVIDED BY EMPLOYEES OF FINRA. THE FOUNDATION DOES NOT COMPENSATE THESE EMPLOYEES OF FINRA FOR THEIR SERVICE. THE PRESIDENT OF THE FOUNDATION SERVES AS THE LEAD OFFICER DIRECTING THE ACTIVITIES OF THE ORGANIZATION. IN DETERMINING SPECIFIC SALARY AND INCENTIVE COMPENSATION LEVELS FOR OFFICERS AND KEY EMPLOYEES OF FINRA, FINRA MANAGEMENT AND THE MANAGEMENT COMPENSATION COMMITTEE (THE "COMMITTEE") OF THE FINRA BOARD OF GOVERNORS CONSIDER: 1) OPERATIONAL RESULTS 2) STRATEGIC INITIATIVES 3) FINANCIAL HEALTH/RESULTS 4) INDIVIDUAL CHARACTERISTICS SUCH AS PERFORMANCE 5) COMPETITIVE COMPENSATION LEVELS AS PREPARED BY A THIRD-PARTY COMPENSATION CONSULTANT. THE COMMITTEE'S MINUTES OF THE MARCH 9, 2023 MEETING WERE REVIEWED AND APPROVED AS ACCURATE AND COMPLETE. THE FULL BOARD FURTHER APPROVED THE 2022 INCENTIVE COMPENSATION OF THE CEO AT ITS MEETING ON MARCH 10, 2023. FOR FURTHER INFORMATION REGARDING THE COMPENSATION OF OFFICERS, PLEASE REFER TO THE 2023 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 FOR THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. |
| Form 990, Part VI, Line 6 Classes of members or stockholders | THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. (FINRA) IS THE SOLE MEMBER OF THE FOUNDATION. |
| Form 990, Part VI, Line 7a Members or stockholders electing members of governing body | FINRA, AS SOLE MEMBER, ELECTS ALL MEMBERS OF THE GOVERNING BODY. |
| Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders | THE BYLAWS OF THE CORPORATION MAY BE AMENDED BY THE SOLE MEMBER, FINRA. THE CERTIFICATE OF INCORPORATION OF THE CORPORATION MAY BE AMENDED OR REPEALED IN WHOLE OR IN PART ONLY WITH THE AFFIRMATIVE APPROVAL OF THE MEMBER, FINRA. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | THE FORM 990 WAS REVIEWED BY SENIOR MANAGEMENT AT VARIOUS STEPS THROUGHOUT THE PREPARATION CYCLE. THE FOUNDATION BOARD REVIEWED THE FINAL VERSION ON OCTOBER 8, 2024. |
| Form 990, Part VI, Line 12c Conflict of interest policy | THE FOUNDATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT GOVERNS THE PROFESSIONAL AND ETHICAL CONDUCT OF BOARD MEMBERS, OFFICERS AND STAFF. AMONG OTHER THINGS, MEMBERS, OFFICERS, AND STAFF ARE PROHIBITED FROM DERIVING ANY PERSONAL PROFIT OR GAIN, DIRECTLY OR INDIRECTLY, BY REASON OF THEIR SERVICE TO THE FOUNDATION. MOREOVER, THE POLICY EXPRESSLY PROHIBITS SELF-DEALING. THE WRITTEN CONFLICT OF INTEREST POLICY REQUIRES BOARD MEMBERS AND OFFICERS TO MAKE INITIAL DISCLOSURE OF INTERESTS THAT COULD GIVE RISE TO CONFLICTS AS WELL AS ANNUAL DISCLOSURE BY THE SAME BOARD MEMBERS AND OFFICERS. ADDITIONALLY, THE WRITTEN POLICY CONTAINS AN ONGOING OBLIGATION OF BOARD MEMBERS, OFFICERS AND STAFF TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST AS THEY ARISE. THE ORGANIZATION'S OFFICERS AND STAFF ARE EMPLOYEES OF FINRA, AND, AS SUCH, ARE ALSO REQUIRED TO CERTIFY ANNUALLY AS TO THEIR COMPLIANCE WITH FINRA'S WRITTEN CONFLICT OF INTEREST POLICY. FOR FURTHER INFORMATION REGARDING FINRA'S WRITTEN CONFLICT OF INTEREST POLICY, PLEASE REFER TO THE 2023 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 FOR THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. |
| Form 990, Part VI, Line 19 Required documents available to the public | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. |
| Form 990, Part VII, Section B, Line 1, Column (B) | Association for Financial Counseling and Planning Education To manage a financial counselor training and certification program for participants in the FINRA Foundation Military Spouse Fellowship program and deliver additional continuing education programming for financial counselors serving the military community. American Library Association To undertake Thinking Money for Kids, a multimedia financial literacy initiative designed for public and tribal libraries in the United States, in partnership with the FINRA Foundation. Girl Scouts of the USA To revamp and promote components of the Girl Scouts of the USA Financial Empowerment Badge Program and undertake related educational outreach events in partnership with the FINRA Foundation. FGS Global LLC To undertake data collection, analysis, report writing, and related research services as part of the FINRA Foundation's National Financial Capability Study. AARP To provide proactive counseling and fraud prevention outreach to consumers targeted for or impacted by a wide range of fraud and scams. |
| Form 990, Part IX, Line 11g Other Fees | PARTNERSHIP SUPPORT/CONSULTING - Total Expense: 4043803, Program Service Expense: 4043472, Management and General Expenses: 331, Fundraising Expenses: ; |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | OTHER CHANGES IN NET ASSETS OR FUND BALANCES PRIMARILY RELATE TO CONTRIBUTED SERVICES $3,019,488, INVESTMENT EXPENSES $85,573, PRIOR YEAR GRANT REFUND $20,000 AND ROUNDING ADJUSTMENT (-1) - -3125060; |
| FORM 990, PART I, LINES 4 & 6 | 5 OF THE 6 MEMBERS OF THE BOARD OF DIRECTORS, ACTIVE ON DECEMBER 31, 2023, ARE CONSIDERED INDEPENDENT VOTING MEMBERS AND SERVE ON A VOLUNTEER BASIS. AS DISCLOSED IN LINES (1), (5), AND (6) OF FORM 990, PART VII, SECTION A, LINE 1A, 2 ACTIVE BOARD MEMBERS RECEIVED COMPENSATION FROM FINRA, THE FOUNDATION'S PARENT. 1 BOARD MEMBER RECEIVES COMPENSATION AS AN OFFICER OF FINRA AND IS NEITHER CONSIDERED INDEPENDENT NOR COUNTED AS A VOLUNTEER. 2 ARE COMPENSATED FOR THEIR WORK AS MEMBERS OF THE BOARD OF FINRA OR ONE OF ITS COMMITTEES. THESE MEMBERS ARE CONSIDERED INDEPENDENT AND COUNTED AS VOLUNTEERS. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR APPROVING PROJECTS AND GRANTS. |
| Form 990, Part VI Employment Rules and Policies | The Foundation does not have any employees. All services are provided by employees of FINRA. The Foundation does not pay for their services. As such, those individuals are subject to the employment rules and policies of FINRA. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd |
|---|---|---|---|---|---|---|---|---|---|
| FINANCIAL INDUSTRY REGULATORY AUTHORITY INC | |||||||||
| 1700 K STREET NW | WASHINGTON | DC | 20006 | 530088710 | REGULATORY | DE | 501(c)(6) | NA | false |
| FINRA REGULATION INC | |||||||||
| 1700 K STREET NW | WASHINGTON | DC | 20006 | 521959501 | REGULATORY | DE | 501(c)(6) | FINANCIAL INDUSTRY REGULATORY AUTHORITY INC | false |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HIGHVISTA II LP | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 CLARENDON ST | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02116 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 260125223 | EIN |
| Primary Activities | INVESTMENT | PrimaryActivitiesTxt |
| Legal Domicile State | DE | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Predominant Income Type | N/A | PredominantIncomeTypeTxt |
| Disproportionate Allocations | false | DisproportionateAllocationsInd |
| General Or Managing Partner | false | GeneralOrManagingPartnerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (true) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (true) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
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