2020-11-16T08:33:39-06:00 2019-12-31 346565596 ERNST & YOUNG US LLP 221 E 4TH STREET SUITE 2900 CINCINNATI OH 45202 990 2019-01-01 200863779 FINRA Investor Education Foundation FINR 2027288949 9509 KEY WEST AVENUE ROCKVILLE MD 20850 ROBERT A RENNER VICE PRESIDENT 2020-11-16 true Julie L Sparks P01268401 5136121400 2019-11-14 2019 2021-04-22 16:20:28Z X Geraldine M Walsh 1735 K STREET NW WASHINGTON DC 200061506 1214395 false X WWW.FINRAFOUNDATION.ORG X 2004 DE THE MISSION IS TO EMPOWER UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS TO MAKE SOUND FINANCIAL DECISIONS THROUGHOUT LIFE. 8 7 0 7 0 0 1134746 173783 0 0 1020006 388396 0 0 2154752 562179 319178 439457 0 0 0 0 0 0 3661889 3447057 3981067 3886514 -1826315 -3324335 75542347 75669237 318500 524362 75223847 75144875 X THE MISSION IS TO EMPOWER UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS TO MAKE SOUND FINANCIAL DECISIONS THROUGHOUT LIFE. false false 1112817 259000 FOSTER SUSTAINABLE FINANCIAL EDUCATION - See Schedule O 1089983 PROTECT CONSUMERS FROM FINANCIAL FRAUD - See Schedule O 804301 ADVANCE MILITARY FINANCIAL READINESS - See Schedule O 564936 166673 TRACK AND COMMUNICATE FINANCIAL CAPABILITY (2019 ALLOCATION $564,936) THE FOUNDATION CONDUCTS THE NATIONAL FINANCIAL CAPABILITY STUDY (NFCS), 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 ENABLES STUDIES TO HELP DECISION-MAKERS AND PRACTITIONERS ADVANCE FINANCIAL WELL-BEING IN COMMUNITIES NATIONWIDE. THE FOUNDATION ALSO PURSUES AN ACTIVE RESEARCH AGENDA FOCUSING ON FINANCIAL FRAUD IN AMERICA, AND IT COLLABORATES ON A VARIETY OF STUDIES TO HELP DECISION-MAKERS UNDERSTAND WHAT WORKS WHEN IT COMES TO FINANCIAL EDUCATION AND PROTECTION. 564936 166673 3572037 false true false false false false false false true false true false false true true true true false false true false false false false false false true true true false false false false false false false false false false false false false true false false true 19 0 true 0 false false false false false false false false X 8 7 false false false false true true true true true false false true true true true true true false false false X Jennifer P Mitchell 2027288949 1735 K Street NW Washington DC 200061506 Camille M Busette Board Member 1.0 2.0 X 0 45707 0 Elisse B Walter Board Member 1.0 5.0 X 0 101160 0 Jayne W Barnard Board Member 1.0 0 X 0 0 0 John W Thiel Board Member 1.0 2.0 X 0 25000 0 Laura Fisher Board Member 1.0 0 X 0 0 0 Mari J Buechner Board Member 1.0 0 X 0 0 0 Robert W Cook Chairman 1.0 59.0 X 0 3394843 253467 T Grant Callery Board Member 1.0 0 X 0 0 0 Eileen M Famiglietti Treasurer 6.0 54.0 X 0 400094 351123 Geraldine M Walsh President 48.0 12.0 X 0 699542 145133 Jennifer P Mitchell Corporate Secretary 3.0 57.0 X 0 375700 190471 0 5042046 940194 0 false true false AMERICAN LIBRARY ASSOCIATION 50 EAST HURON STREET CHICAGO IL 60611 SEE SCHEDULE O 500000 ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION 79 S STATE STREET WESTERVILLE OH 43081 SEE SCHEDULE O 474499 AARP FOUNDATION 601 EAST STREET NW WASHINGTON DC 20049 SEE SCHEDULE O 190000 CRUSADERS FOR CHANGE LLC 1015 RAILBED DRIVE ODENTON MD 21113 SEE SCHEDULE O 151954 NATIONAL CENTER FOR VICTIMS OF CRIME 2000 M STREET NW WASHINGTON DC 20036 SEE SCHEDULE O 105000 5 92408 81375 173783 0 0 0 0 0 937300 937300 0 0 103312 652216 -548904 0 -548904 -548904 0 0 0 0 0 562179 0 0 388396 X 425719 425719 13738 13738 52065 52065 109593 109593 2766588 2766588 0 0 13583 9978 3605 113956 50739 63217 69506 68567 939 77639 22139 55500 119624 98384 21240 110745 103542 7203 Publication/Printing 12643 12643 Dues/Membership Fee 1000 1000 115 0 115 0 3886514 3572037 314477 0 689299 597768 0 0 0 0 611870 20043 0 0 0 0 0 0 0 0 63643 20775 0 0 0 0 46417125 50759969 27760410 24270682 0 0 0 0 0 75542347 75669237 315958 514054 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2542 10308 318500 524362 X 75131685 75055752 92162 89123 0 0 0 0 0 0 75223847 75144875 75542347 75669237 X -3324335 3245365 2963626 109593 -3073221 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 92161 0 1962 5000 0 0 89123 95628 0 1533 5000 0 0 92161 100000 0 628 5000 0 0 95628 0 100000 0 0 0 0 100000 0 0 0 0 0 0 0 0.0 0.0 1.0 false false Pooled Investment Funds 24270682 F 24270682 DUE TO RELATED ORGANIZATION 10308 10308 X 6661577 3245365 2963626 0 6208991 452586 109593 0 109593 562179 6740547 2963626 0 2963626 3776921 109593 0 109593 3886514 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 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, 2016, through December 31, 2019, 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. Central America and the Caribbean 0 0 Investments 24270682 0 0 0 0 0 0 24270682 0 24270682 true false true false false false true Catholic Charities of Ashtabula County 4200 PARK AVENUE ASHTABULA OH 44014 340714639 501(C)(3) 20000 FINANCIAL WELLNESS AT WORK: CATHOLIC CHARITIES OF ASHTABULA COUNTY IS ADVANCING WORKPLACE FINANCIAL WELLNESS IN THE COMMUNITY. Catholic Char Dioc of Fort Worth 249 W THORNHILL DR FORTH WORTH TX 76115 750808769 501(C)(3) 20000 FINANCIAL WELLNESS AT WORK: CATHOLIC CHARITIES DIOCESE OF FORT WORTH IS ADVANCING WORKPLACE FINANCIAL WELLNESS IN THE COMMUNITY. Catholic Charities of NE Kansas Inc 972 WEST 87TH ST OVERLAND PARK KS 66212 481181305 501(C)(3) 20000 FINANCIAL WELLNESS AT WORK: CATHOLIC CHARITIES OF NORTHEAST KANSAS IS ADVANCING WORKPLACE FINANCIAL WELLNESS IN THE REGION. Catholic Comm Svcs of Southern AZ 140 W SPEEDWAY TUCSON AZ 85705 860100880 501(C)(3) 20000 FINANCIAL WELLNESS AT WORK: CATHOLIC COMMUNITY SERVICES OF SOUTHERN ARIZONA IS ADVANCING WORKPLACE FINANCIAL WELLNESS IN THE REGION. Friends of Libraries in Oklahoma Inc PO BOX 702585 TULSA OK 74170 731053431 501(C)(3) 12934 SMART INVESTING@YOUR LIBRARY: FRIENDS OF LIBRARIES IN OKLAHOMA (FOLIO) IS EXPANDING A SUCCESSFUL FINANCIAL EDUCATION MODEL TO LIBRARIES ACROSS THE STATE, GIVING PRIMARY ATTENTION TO MEETING THE NEEDS OF MILITARY PERSONNEL AND THEIR FAMILIES, SENIOR CITIZENS, YOUNG ADULTS, AND LOW-INCOME HOUSEHOLDS. THIS FINANCIAL FITNESS SERIES, DELIVERED IN COLLABORATION WITH LOCAL AND STATE PARTNERS, PROMPTS PARTICIPANTS TO MAKE CONCRETE CHANGES TO THEIR PERSONAL FINANCE PRACTICES AND HELPS THEM GAIN CONTROL OF THEIR FINANCIAL FUNDAMENTALS WHILE POSITIONING THEM TO BEGIN INVESTING FOR LONGER-TERM GOALS. Montana State University 309 MONTANA HALL BOZEMAN MT 59717 816010045 115(A) 62423 THE FINANCIAL CAPABILITY OF YOUNG ADULTS NOT ATTAINING POSTSECONDARY EDUCATION: RESEARCHERS FROM MONTANA STATE UNIVERSITY AND THE UNIVERSITY OF WISCONSIN-MADISON ARE INVESTIGATING THE FINANCIAL CAPABILITY AND FINANCIAL WELLNESS OF YOUNG ADULTS WHO DO NOT ATTEND POST-SECONDARY EDUCATION. Research FDN for the State Univ of NY PO BOX 9 ALBANY NY 12201 141368361 501(C)(3) 17750 THE EXTRA COSTS OF LIVING FOR ADULTS WITH DISABILITIES IN THE U.S.: RESEARCHERS FROM STONY BROOK UNIVERSITY, THE UNIVERSITY OF TENNESSEE, THE OXFORD INSTITUTE OF POPULATION AGEING, AND THE NATIONAL DISABILITY INSTITUTE ARE USING THE NATIONAL FINANCIAL CAPABILITY STUDY AND OTHER DATA SETS TO PROVIDE THE FIRST NATIONALLY REPRESENTATIVE ESTIMATES OF THE EXTRA COSTS OF LIVING WITH A DISABILITY IN THE U.S. United Way Fox Cities Inc 1455 MIDWAY ROAD MENASHA WI 54952 390912895 501(C)(3) 20000 FINANCIAL WELLNESS AT WORK: UNITED WAY FOX CITIES IS ADVANCING WORKPLACE FINANCIAL WELLNESS IN THE COMMUNITY. United Way of Buffalo & Erie County 742 DELAWARE AVE BUFFALO NY 14209 160743969 501(C)(3) 20000 FINANCIAL WELLNESS AT WORK: UNITED WAY OF BUFFALO AND ERIE COUNTY IS ADVANCING WORKPLACE FINANCIAL WELLNESS IN THE COMMUNITY. United Way of Logan County 130 SOUTH MAIN ST BELLEFONTAINE OH 43311 340905716 501(C)(3) 20000 FINANCIAL WELLNESS AT WORK: UNITED WAY OF LOGAN COUNTY IS ADVANCING WORKPLACE FINANCIAL WELLNESS IN THE COMMUNITY. United Way of Madison County Indiana 206 WEST 11TH ST ANDERSON IN 46016 351052350 501(C)(3) 20000 FINANCIAL WELLNESS AT WORK: UNITED WAY OF MADISON COUNTY IS ADVANCING WORKPLACE FINANCIAL WELLNESS IN THE COMMUNITY. United Way of Miami-Dade 3250 SW 3RD AVE MIAMI FL 33129 590830840 501(C)(3) 20000 FINANCIAL WELLNESS AT WORK: UNITED WAY OF MIAMI-DADE IS ADVANCING WORKPLACE FINANCIAL WELLNESS IN THE COMMUNITY. Urban Institute 500 LENFANT PLAZA SW WASHINGTON DC 20024 520880375 501(C)(3) 86500 DELINQUENT DEBT DECISIONS AND THEIR CONSEQUENCES OVER TIME: RESEARCHERS ARE USING A NATIONALLY REPRESENTATIVE CREDIT BUREAU DATABASE, ALONG WITH THE FINRA FOUNDATION'S NATIONAL FINANCIAL CAPABILITY STUDY STATE-BY-STATE DATA, TO INVESTIGATE WHICH BILLS FAMILIES DECIDE TO STOP PAYING FIRST WHEN IN FINANCIAL DISTRESS, AND WHETHER FAMILIES MAKE DELINQUENT-DEBT DECISIONS THAT MINIMIZE FINANCIAL HARM OVER TIME. URBAN INSTITUTE IS ALSO STUDYING HOW THESE DELINQUENT-DEBT DECISIONS RELATE TO FAMILIES' CHARACTERISTICS AND WHETHER CONSUMERS WITH BETTER FINANCIAL KNOWLEDGE ARE MORE LIKELY TO MAKE LESS HARMFUL DEFAULT DECISIONS. 12 1 2019 KETCHUM PRIZE FOR INVESTOR PROTECTION 1 10000 1613 Cost Travel, Gift Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. 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. false true false false false false false false false Robert W Cook Chairman 0 980673 0 1500000 0 914170 0 236400 0 17067 0 3648310 0 490018 Eileen M Famiglietti Treasurer 0 268987 0 129000 0 2107 0 304202 0 46921 0 751217 0 0 Jennifer P Mitchell Corporate Secretary 0 203071 0 165000 0 7629 0 146658 0 43813 0 566171 0 0 Geraldine M Walsh President 0 298564 0 195000 0 205978 0 130392 0 14741 0 844675 0 94734 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 2019 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 OF THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. 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. TWO PARTICIPANTS IN THE SUPPLEMENTAL NON-QUALIFIED DEFINED CONTRIBUTION PLAN WHO HAD A VESTING EVENT OR RECEIVED A PAYOUT DURING TAX YEAR 2019: ROBERT W. COOK - $886,584 (VESTING) GERALDINE M WALSH - $166,524 (VESTING) Form 990, Part III, Line 4 THE FOUNDATION HELPS AMERICANS BUILD FINANCIAL CAPABILITY, INVEST FOR LIFE GOALS, AND GUARD AGAINST FRAUD. THE FOUNDATION'S RESEARCH, MOREOVER, FURTHERS DIVERSE EFFORTS TO ADDRESS THE NEEDS OF INVESTORS, MILITARY SERVICE MEMBERS, AND LOWER-INCOME WORKING AMERICANS AND THEIR FAMILIES. MUCH OF THIS WORK IS ACCOMPLISHED IN PARTNERSHIP WITH ORGANIZATIONS THAT SHARE A DEEP COMMITMENT TO THE FOUNDATION'S MISSION. THE FOUNDATION EMPOWERS ITS GRANTEES AND PROGRAMMING PARTNERS TO REACH PEOPLE WHERE THEY LIVE, WORK AND LEARN. IT FOCUSES ON BUILDING CAPACITY AND NURTURING SUPPORTIVE NETWORKS THAT STAND READY AND WELL EQUIPPED TO GUIDE AMERICANS THROUGH LIFE'S FINANCIAL DECISIONS AND CHALLENGES. Form 990, Part III, Line 4b PROTECT CONSUMERS FROM FINANCIAL FRAUD (2019 ALLOCATION: $1,089,983 INCLUDING GRANTS OF $259,000) THE FOUNDATION EDUCATES AMERICANS ABOUT FINANCIAL FRAUD, HOW TO AVOID AND REPORT IT, AND THE STEPS TO TAKE IF VICTIMIZED. THROUGH RESEARCH (ON FRAUD SUSCEPTIBILITY AND OTHER CRITICALLY IMPORTANT TOPICS), EDUCATION, AND OUTREACH, THE FOUNDATION INCREASES FRAUD PREVENTION AND AWARENESS, EMPOWERS CONSUMERS, AND TRAINS LAW ENFORCEMENT TO RECOGNIZE AND TAKE ACTION AGAINST 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 FOUNDATION; ALLIANCE FOR RETIRED AMERICANS; COUNCIL OF BETTER BUSINESS BUREAUS AND THE BBB INSTITUTE; FIRST NATIONS DEVELOPMENT INSTITUTE; NATIONAL CENTER FOR VICTIMS OF CRIME; NATIONAL WHITE COLLAR CRIME CENTER; AND STANFORD UNIVERSITY (THE STANFORD CENTER ON LONGEVITY). Form 990, Part III, Line 4a FOSTER SUSTAINABLE FINANCIAL EDUCATION: (2019 ALLOCATION - $1,112,817) THE FOUNDATION SUPPORTS AND MANAGES PERSONAL FINANCE PROGRAMS, PROFESSIONAL TRAINING, RESEARCH, AND SERVICES TO ASSIST A WIDE VARIETY OF AUDIENCES. THESE EFFORTS COMPRISE WORKPLACE AND COMMUNITY-LEVEL INITIATIVES THAT IMPROVE FINANCIAL STABILITY, FINANCIAL PLANNING, AND INVESTING KNOWLEDGE AND DECISION-MAKING. THE FOUNDATION'S FINANCIAL WELLNESS AT WORK PROJECT-ADMINISTERED IN COLLABORATION WITH UNITED WAY WORLDWIDE (UWW)-HELPS NONPROFITS IN THE COMMUNITY PROVIDE WORKPLACE FINANCIAL WELLNESS SERVICES FOR LOWER-INCOME EMPLOYEES. TOGETHER, THE FOUNDATION AND UWW MAINTAIN A NATIONAL NETWORK OF NONPROFIT ORGANIZATIONS THAT HELP EMPLOYERS IN ALL SECTORS OF THE ECONOMY MAKE FINANCIAL WELLNESS A SEAMLESS PART OF THE WORKDAY. THROUGH PROFESSIONAL DEVELOPMENT INSTITUTES, MODEL PROGRAMS AND SERVICES, GRANT FUNDING, AND OPPORTUNITIES TO SHARE BEST PRACTICES, THIS GROWING NETWORK IS RETHINKING OUR APPROACH TO FINANCIAL CAPABILITY IN WAYS THAT FIT WORKERS' DAILY LIVES AND MAKE SENSE FOR HOW, WHERE, AND WHEN PEOPLE MAKE DECISIONS ABOUT MONEY. OTHER PARTNERS INCLUDE CATHOLIC CHARITIES USA AND THE FILENE RESEARCH INSTITUTE. 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. Form 990, Part III, Line 4c ADVANCE MILITARY FINANCIAL READINESS (2019 ALLOCATION $804,301) THE FOUNDATION'S MILITARY FINANCIAL READINESS PROJECT DELIVERS FREE, HIGH-QUALITY, UNBIASED INFORMATION AND TOOLS TO MILITARY SERVICE MEMBERS AND THEIR FAMILIES. THROUGH TRAINING, EDUCATION, AND OUTREACH, THE FOUNDATION INCREASES PERSONAL 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. NONPROFIT ORGANIZATIONS THAT HAVE ENTERED INTO PARTNERSHIP AGREEMENTS WITH THE FOUNDATION AS PART OF THIS PROJECT INCLUDE THE FOLLOWING: ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION; CONSUMER FEDERATION OF AMERICA; AND THE MILITARY FAMILY ADVISORY NETWORK. Form 990, Part III, Line 4d Description of other program services (Expenses $ 564,936 including grants of $ 166,673) TRACK AND COMMUNICATE FINANCIAL CAPABILITY (2019 ALLOCATION $564,936) THE FOUNDATION CONDUCTS THE NATIONAL FINANCIAL CAPABILITY STUDY (NFCS), 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 ENABLES STUDIES TO HELP DECISION-MAKERS AND PRACTITIONERS ADVANCE FINANCIAL WELL-BEING IN COMMUNITIES NATIONWIDE. THE FOUNDATION ALSO PURSUES AN ACTIVE RESEARCH AGENDA FOCUSING ON FINANCIAL FRAUD IN AMERICA, AND IT COLLABORATES ON A VARIETY OF STUDIES TO HELP DECISION-MAKERS UNDERSTAND WHAT WORKS WHEN IT COMES TO FINANCIAL EDUCATION AND PROTECTION. 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 SEPTEMBER 30, 2020. 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 2019 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 AND AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. Form 990, Part VII, Section B, Line 1, Column (B) FORM 990, PART VII, SECTION B, LINE 1, COLUMN (B) AMERICAN LIBRARY ASSOCIATION DEVELOPED AND CONDUCTED A COMPREHENSIVE FINANCIAL EDUCATION INITIATIVE SERVING U.S. LIBRARIES. ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION DEVELOPED AND MANAGED TRAINING AND CERTIFICATION PROGRAM FOR THE FOUNDATION MILITARY SPOUSE FELLOWSHIP PROGRAM; CREATED AND DELIVERED CONTENT FOR MILITARY FINANCIAL COUNSELOR CONTINUING EDUCATION PROGRAM. AARP FOUNDATION CONDUCTED PROACTIVE PEER COUNSELING TO VULNERABLE CONSUMERS AND VICTIMS OF FINANCIAL FRAUD. CRUSADERS FOR CHANGE LLC ASSIST FOUNDATION BY DEVELOPING AND MANAGING THE FOUNDATION'S MILITARY FINANCIAL READINESS INITIATIVES. NATIONAL CENTER FOR VICTIMS OF CRIME DESIGNED, DEVELOPED AND IMPLEMENTED A PLAN TO HELP ASSIST VICTIMS OF FINANCIAL FRAUD AND COUNSEL THEM ON HOW TO AVOID BECOMING TARGETS IN THE FUTURE. Form 990, Part IX, Line 11g Other Fees PARTNERSHIP SUPPORT/CONSULTING - Total Expense: 1415474, Program Service Expense: 1415474, Management and General Expenses: , Fundraising Expenses: ; CONSULTING SERVICES - Total Expense: 873735, Program Service Expense: 873735, Management and General Expenses: , Fundraising Expenses: ; MILITARY PROGRAM - Total Expense: 458235, Program Service Expense: 458235, Management and General Expenses: , Fundraising Expenses: ; OTHER - Total Expense: 19144, Program Service Expense: 19144, Management and General Expenses: , 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 $2,963,626, INVESTMENT EXPENSES $109,593 AND ROUNDING ADJUSTMENTS $2. - -3073221; FORM 990, PART I, LINES 4 & 6 SEVEN OF THE EIGHT MEMBERS OF THE BOARD OF DIRECTORS, ACTIVE ON DECEMBER 31, 2019, ARE CONSIDERED INDEPENDENT VOTING MEMBERS AND SERVE ON A VOLUNTEER BASIS. AS DISCLOSED IN LINES (5), (6) AND (7) OF FORM 990, PART VII, SECTION A, LINE 1A, THREE BOARD MEMBERS RECEIVED COMPENSATION FROM FINRA, THE FOUNDATION'S PARENT. ONE BOARD MEMBER RECEIVES COMPENSATION AS AN OFFICER OF FINRA AND IS NEITHER CONSIDERED INDEPENDENT NOR COUNTED AS A VOLUNTEER. THREE ARE COMPENSATED FOR THEIR WORK AS MEMBERS OF THE BOARD OF FINRA. THESE MEMBERS ARE CONSIDERED INDEPENDENT AND COUNTED AS VOLUNTEERS. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR APPROVING PROJECTS AND GRANTS. 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, LINES 15A AND 15B 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 PERFORMANCE 5) COMPETITIVE COMPENSATION LEVELS AS PREPARED BY MERCER, INC., A THIRD-PARTY COMPENSATION CONSULTANT. THE COMMITTEE'S MINUTES OF THE FEBRUARY 28, 2019 MEETING WERE REVIEWED AND APPROVED AS ACCURATE AND COMPLETE. THE FULL BOARD FURTHER APPROVED THE 2018 INCENTIVE COMPENSATION OF THE CEO AT ITS MEETING ON MARCH 1, 2019. FOR FURTHER INFORMATION REGARDING THE COMPENSATION OF OFFICERS, PLEASE REFER TO THE 2019 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 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. FINANCIAL INDUSTRY REGULATORY AUTHORITY INC 1735 K STREET NW WASHINGTON DC 20006 530088710 REGULATORY DE 501(c)(6) NA false FINRA REGULATION INC 1735 K STREET NW WASHINGTON DC 20006 521959501 REGULATORY DE 501(c)(6) FINANCIAL INDUSTRY REGULATORY AUTHORITY INC true HIGHVISTA II LP 200 CLARENDON ST BOSTON MA 02116 260125223 INVESTMENT DE NA N/A false false false false true false false false false false false false false false false true true true true false false