SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION INC: Form 990, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION INC (EIN 32-0178959)
- Tax period
- 2017-11-01 to 2018-10-31
- Filed
- 2019-09-09
- IRS object ID
- 201902529349300335
- Schema version
- 2017v2.3
- 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 | 2019-09-09T10:47:11-05:00 | ReturnTs |
| Tax Period End | 2018-10-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 757 THIRD AVENUE 4TH FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 100172013 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2017-11-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 320178959 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Securities Industry and Financial | BusinessNameLine1Txt |
| Business Name Line2 | Markets Association | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % NAM KIM | InCareOfNm |
| Business Name Control | SECU | BusinessNameControlTxt |
| Phone | 2123131371 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 120 Broadway Suite 35 FL | AddressLine1Txt |
| City | New York | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10271 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DAVID KRASNER | PersonNm |
| Person Title | CFO & CAO | PersonTitleTxt |
| Phone | 2123131371 | PhoneNum |
| Signature | 2019-09-09 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Daniel Romano | PreparerPersonNm |
| PTIN | P00504182 | PTIN |
| Phone | 2125990100 | PhoneNum |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 209.220.136.124 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Federal Original Submission Id | 26377520192525000018 | FederalOriginalSubmissionId |
| Federal Original Submission Id | 2019-09-09 | FederalOriginalSubmissionIdDt |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | F3025B962F5CDC81089D134DBE2E83273904A17C | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | ECE9D2D48766BBADCAFDCE56D2F3F971EEE3C114 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2017 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KENNETH E BENTSEN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 120 Broadway | AddressLine1Txt |
| City | New York | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10271 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $60,335,877 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.sifma.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2006 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | SIFMA IS THE LEADING TRADE ASSOCIATION FOR BROKER-DEALERS, INVESTMENT BANKS AND ASSET MANAGERS OPERATING IN THE U.S. AND GLOBAL CAPITAL MARKETS. CONTINUED IN SCHEDULE O. | ActivityOrMissionDesc |
| Voting Members Governing Body | 39 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 38 | VotingMembersIndependentCnt |
| Total Employee | 175 | TotalEmployeeCnt |
| Total Volunteers | 12777 | TotalVolunteersCnt |
| Total Gross UBI | $190,034 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $227,281 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $44,343,353 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $58,627,281 | CYProgramServiceRevenueAmt |
| PY Investment Income | $890,139 | PYInvestmentIncomeAmt |
| CY Investment Income | $930,698 | CYInvestmentIncomeAmt |
| PY Other Revenue | $817,378 | PYOtherRevenueAmt |
| CY Other Revenue | $777,898 | CYOtherRevenueAmt |
| PY Total Revenue | $46,050,870 | PYTotalRevenueAmt |
| CY Total Revenue | $60,335,877 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $357,240 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $529,054 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $35,540,965 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $36,033,074 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $24,054,180 | PYOtherExpensesAmt |
| CY Other Expenses | $24,766,918 | CYOtherExpensesAmt |
| PY Total Expenses | $59,952,385 | PYTotalExpensesAmt |
| CY Total Expenses | $61,329,046 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$13,901,515 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$993,169 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $54,987,555 | TotalAssetsBOYAmt |
| Total Assets EOY | $50,021,840 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $30,648,220 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $26,432,106 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $24,339,335 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $23,589,734 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SIFMA IS THE VOICE OF THE U.S. SECURITIES INDUSTRY. WE ARE A MEMBER-DRIVEN ORGANIZATION THAT ADVOCATES FOR EFFECTIVE AND EFFICIENT CAPITAL MARKETS. (CONTINUED IN SCHEDULE O) | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | CONTINUED DEVELOPMENT AND MAINTENANCE OF BEST PRACTICES THAT ARE CONDUCIVE TO EFFICIENT CONDUCT OF THE BUSINESS AND MEMBERS OF THE ORGANIZATION: (CONTINUED IN SCHEDULE O) | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ADVOCACY ADVOCACY FOR ISSUES OF IMPORTANCE TO ITS MEMBERS: SIFMA BRINGS TOGETHER THE SHARED INTERESTS OF HUNDREDS OF BROKER-DEALERS, BANKS AND ASSET MANAGERS. WE ADVOCATE IN SUPPORT OF EFFECTIVE AND RESILIENT CAPITAL MARKETS. (CONTINUED IN SCHEDULE O) | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CONFERENCES AND SEMINARS SIFMA EVENTS FOSTER MEANINGFUL CONVERSATIONS ABOUT CRITICAL ISSUES IMPACTING OUR FINANCIAL MARKETS. BY PROVIDING RELEVANT AND LIVELY FORUMS, WE BRING TOGETHER INDUSTRY PROFESSIONALS WITH LEADING INDUSTRY EXECUTIVES AND EXPERTS, REGULATORS, AND POLICYMAKERS TO DISCUSS THE MOST PRESSING ISSUES FACING THE CAPITAL MARKETS TODAY. (CONTINUED IN SCHEDULE O) | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (true) | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 143 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 175 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (true) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (true) | Form990TFiledInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 39 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 38 | 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 | false | 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 | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | NAM KIM | PersonNm |
| Phone | 2123131371 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 120 BROADWAY 35TH FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10271 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (56 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| LISA KIDD HUNT | ||||||||
| CHAIRMAN OF THE BOARD | 2.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JAMES R ALLEN | ||||||||
| CHAIR-ELECT | 2.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| WILLIAM CACCAMISE | ||||||||
| VICE CHAIR | 2.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JAMES WALLIN | ||||||||
| TREASURER | 2.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| DAN ARNOLD | ||||||||
| DIRECTOR (THRU 06/2018) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| KEVIN BAILEY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| BARRY BAUSANO | ||||||||
| DIRECTOR (THRU 06/2018) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| VALERIE G BROWN | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| SYLVAIN CARTIER | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| KENNETH CELLA | ||||||||
| DIRECTOR (FROM 01/2018) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL CROWL | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| LISA DOLLY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JOHN ETTELSON | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| DAVID FINDLAY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| KIM TILLOTSON FLEMING | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| TIM HOCKEY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JAMES KELLIGREW JR | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JIM KERR | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| ANDREW KOMAROFF | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| RONALD J KRUSZEWSKI | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| THOMAS MCDONALD | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| GERARD MCGRAW | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| CHARLOTTE MCLAUGHLIN | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| BRAND MEYER | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| SANDRA O'CONNOR | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| EDWARD PICK | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| PAUL E PURCELL | ||||||||
| DIRECTOR (THRU 04/2018) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| PAUL REILLY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JOHN FW ROGERS | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| THIERRY ROLAND | ||||||||
| DIRECTOR (THRU 09/2018) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| TIMOTHY C SCHEVE | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| URSULA SCHLIESSLER | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| PETER SCHNEIDER | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| SUZANNE SHANK | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| PAUL STEVELMAN | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JOSEPH E SWEENEY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| LEWIS WIRSHBA | ||||||||
| DIRECTOR (THRU 06/2018) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| GARY WUNDERLICH | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| W RUFUS YATES | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JAMES A TRICARICO JR | ||||||||
| DIRECTOR (THRU 05/2018) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| KENNETH E BENTSEN JR | ||||||||
| PRESIDENT AND CEO | 40.0 | 0.0 | Yes (X) | Yes (X) | $2,367,963 | $0 | $77,138 | |
| MATTHEW K ENYEDI | ||||||||
| DIRECTOR (FROM 07/2018) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| DAVID MILLER | ||||||||
| DIRECTOR (FROM 10/2018) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| BRENDAN T REILLY | ||||||||
| DIRECTOR (FROM 07/2018) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JOHN G TAFT | ||||||||
| DIRECTOR (FROM 04/2018) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| RANDOLPH C SNOOK | ||||||||
| EXECUTIVE VICE PRESIDENT | 40.0 | 0.0 | Yes (X) | $1,071,620 | $0 | $69,572 | ||
| IRA D HAMMERMAN | ||||||||
| EVP & GEN. COUNSEL, SECRETARY | 40.0 | 0.0 | Yes (X) | $980,523 | $0 | $90,828 | ||
| CHERYL L CRISPEN | ||||||||
| EXECUTIVE VICE PRESIDENT | 40.0 | 0.0 | Yes (X) | $560,674 | $0 | $73,388 | ||
| ANDY BLOCKER | ||||||||
| EXECUTIVE VP (THRU 01/2018) | 40.0 | 0.0 | Yes (X) | $757,539 | $0 | $76,888 | ||
| DAVID B KRASNER | ||||||||
| CFO & CAO | 40.0 | 0.0 | Yes (X) | $669,340 | $0 | $75,028 | ||
| SALVATORE CHIARELLI | ||||||||
| EXECUTIVE VICE PRESIDENT | 40.0 | 0.0 | Yes (X) | $340,169 | $0 | $56,694 | ||
| TIMOTHY W CAMERON | ||||||||
| MANAGING DIRECTOR | 40.0 | 0.0 | $615,765 | $0 | $68,047 | Yes (X) | ||
| KEVIN CARROLL | ||||||||
| MANAGING DIRECTOR | 40.0 | 0.0 | $461,104 | $0 | $37,083 | Yes (X) | ||
| MICHAEL B DECKER | ||||||||
| MANAGING DIRECTOR | 40.0 | 0.0 | $476,288 | $0 | $58,678 | Yes (X) | ||
| CARTER K MCDOWELL | ||||||||
| MANAGING DIRECTOR | 40.0 | 0.0 | $504,189 | $0 | $66,866 | Yes (X) | ||
| JOHN MAURELLO | ||||||||
| MANAGING DIRECTOR | 40.0 | 0.0 | $474,074 | $0 | $75,052 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $9,279,248 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $825,262 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 76 | 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 |
|---|---|---|---|---|---|
| Sidley Austin LLP | |||||
| PO Box 0642 | CHICAGO | IL | 60690 | LEGAL | $371,879 |
| Cleary Gottlieb Steen Hamilton LL | |||||
| 2000 Pennsylvania Avenue NW | WASHINGTON | DC | 200061801 | LEGAL | $752,229 |
| Oliver Wyman | |||||
| PO Box 3800-28 | BOSTON | MA | 02241 | CONSULTANCY | $345,000 |
| Trustees Univ of Pennsylvania | |||||
| Lock Box 9726 POBox 8500 | PHILADELPHIA | PA | 191789726 | EXEC EDU PROGRAM | $435,825 |
| Davis Polk Wardwell LLP | |||||
| 901 15th Street NW | WASHINGTON | DC | 20005 | LEGAL | $1,169,614 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 11 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| MEMBER DUES | 541900 | $43,051,684 | $43,051,684 | |
| CONFERENCES | 541900 | $15,537,316 | $15,529,279 | $8,037 |
| PUBLICATION SALES | 900099 | $38,281 | $34,631 | $3,650 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $58,627,281 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $930,698 | TotalRevenueColumnAmt |
| Exclusion | $930,698 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $182,706 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $178,347 | UnrelatedBusinessRevenueAmt |
| Exclusion | $4,359 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Gross Income | $0 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $0 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt |
|---|---|---|---|
| SHARED SERVICE AGREEMENT | 561000 | $474,903 | $474,903 |
| MISCELLANEOUS REVENUE | 900099 | $120,289 | $120,289 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $595,192 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $60,335,877 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $58,615,594 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $190,034 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,530,249 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $529,054 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,713,022 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,794,948 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,368,331 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,834,826 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,321,947 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $234,506 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,113,958 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $148,075 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $835,293 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,643 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,515,650 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,144,056 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $682,734 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,429,427 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,499,412 | TotalAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,517,658 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,980,487 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $239,706 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| SUBSCRIPTION AND BOOKS | $646,503 |
| BANK CHARGES & CC PROCESSING | $288,383 |
| PRINTING | $223,375 |
| DUES & REGISTRATION | $205,052 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $61,329,046 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,514,327 | BOYAmt |
| EOY | $2,682,432 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,807,149 | BOYAmt |
| EOY | $14,913,658 | 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 | $164,334 | BOYAmt |
| EOY | $2,432,399 | 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 | $2,764,722 | BOYAmt |
| EOY | $2,407,969 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $30,481,617 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $24,324,824 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,905,061 | BOYAmt |
| EOY | $6,156,793 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,383,557 | BOYAmt |
| EOY | $19,530,546 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,448,405 | BOYAmt |
| EOY | $1,898,043 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $54,987,555 | BOYAmt |
| EOY | $50,021,840 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,798,434 | BOYAmt |
| EOY | $11,039,817 | 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 | $3,507,322 | BOYAmt |
| EOY | $3,498,952 | 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 | $1,542,674 | BOYAmt |
| EOY | $1,159,364 | 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 | $13,799,790 | BOYAmt |
| EOY | $10,733,973 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,648,220 | BOYAmt |
| EOY | $26,432,106 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,339,335 | BOYAmt |
| EOY | $23,589,734 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| 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 | $24,339,335 | BOYAmt |
| EOY | $23,589,734 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $54,987,555 | BOYAmt |
| EOY | $50,021,840 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$993,169 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$419,859 | NetUnrlzdGainsLossesInvstAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Other Changes In Net Assets | $663,427 | 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) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grassroots Lobbying | TotalGrassrootsLobbyingGrp | |
| Total Direct Lobbying | TotalDirectLobbyingGrp | |
| Total Lobbying Expend | TotalLobbyingExpendGrp | |
| Other Exempt Purpose Expend | OtherExemptPurposeExpendGrp | |
| Total Exempt Purpose Expend | TotalExemptPurposeExpendGrp | |
| Lobbying Nontaxable Amount | LobbyingNontaxableAmountGrp | |
| Grassroots Nontaxable | GrassrootsNontaxableGrp | |
| Tot Lbbyng Grassroot Mns Non Tx | TotLbbyngGrassrootMnsNonTxGrp | |
| Tot Lbby Expend Mns Lbbyng Non Tx | TotLbbyExpendMnsLbbyngNonTxGrp | |
| Substantially All Dues Nonded | false | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | false | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | Yes (true) | AgreeCarryoverPriorYearInd |
| Dues Assessments | $43,051,684 | DuesAssessmentsAmt |
| Non Deductible Lbbyng Pltcl CY | $5,741,147 | NonDeductibleLbbyngPltclCYAmt |
| Non Ded Lbbyng Pltcl Cyov | $2,606,144 | NonDedLbbyngPltclCyovAmt |
| Non Deductible Lbbyng Pltcl Tot | $8,347,291 | NonDeductibleLbbyngPltclTotAmt |
| Aggregate Reported Dues Ntc | $6,457,753 | AggregateReportedDuesNtcAmt |
| Carried Over | $1,889,538 | CarriedOverAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp | |
| Land | LandGrp | |
| Buildings | BuildingsGrp |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $20,594,613 | OtherCostOrOtherBasisAmt |
| Depreciation | $15,441,788 | DepreciationAmt |
| Book Value | $5,152,825 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,887,004 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,883,036 | DepreciationAmt |
| Book Value | $1,003,968 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Land Buildings | OtherLandBuildingsGrp | |
| Total Book Value Land Buildings | $6,156,793 | TotalBookValueLandBuildingsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| EMPLOYEE BENEFITS PAYABLE | $7,372,589 |
| DEFERRED RENT & CONSTR. ALLOWANCES | $3,361,384 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $10,733,973 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $59,976,473 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$419,859 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | -$419,859 | RevenueNotReportedAmt |
| Revenue Subtotal | $60,396,332 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | -$60,455 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | -$60,455 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $60,335,877 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $60,726,074 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$663,427 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$663,427 | ExpensesNotReportedAmt |
| Expenses Subtotal | $61,389,501 | ExpensesSubtotalAmt |
| Other Expenses Not Included | -$60,455 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | -$60,455 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $61,329,046 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE D, PART IV | CUSTODIAL ARRANGEMENTS IN ORDER TO FINANCE CERTAIN MEMBER DRIVEN PROJECTS THAT ARE BEYOND SIFMA'S OPERATING BUDGET RESOURCES AND WHICH IMPACT ONLY A SUBSET OF MEMBERS, SIFMA SYNDICATES OUT SUCH PROJECT COSTS TO PARTICIPATING MEMBER FIRMS. THIRD-PARTY PROJECT COSTS (AND ASSOCIATED MEMBER REIMBURSEMENTS) ARE INCLUDED IN SIFMA'S BALANCE SHEET. IN 2018, THE SYNDICATED FUNDS COLLECTED FROM MEMBERS AND DISBURSED FOR SUCH SPECIAL PROJECTS TOTALED $2,147,898 AND $2,531,208, RESPECTIVELY. |
| SCHEDULE D, PART X | FIN 48 THE ASSOCIATION FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE ASSOCIATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE, THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE ASSOCIATION HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE TAX YEARS ENDING OCTOBER 31, 2014, 2015, 2016, AND 2017 ARE STILL OPEN FOR AUDIT FOR BOTH FEDERAL AND STATE PURPOSES. THE ASSOCIATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. |
| SCHEDULE D, PART XII, LINE 2D | RECONCILIATION OF EXPENSES POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC POSTRETIREMENT BENEFIT COST ($713,150) OTHER NONOPERATING EXPENSES $48,473 MEMBERSHIP DUES RESERVE $1,250 ---------- TOTAL OTHER CHANGES: ($663,427) ========== |
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 | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt | Address Line2USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|---|---|---|
| SCHOLARSHIP AMERICA | |||||||||
| 226 W NASSAU STREET | ST PETER | MN | 56082 | 042296967 | 501 (c ) (3) | $12,500 | $0 | PROGRAM SUPPORT | |
| THE BARUCH COLLEGE FUND | |||||||||
| 1 BERNARD BARUCH WAY | NEW YORK | NY | 10010 | 131988190 | 501 (c ) (3) | $15,000 | $0 | PROGRAM SUPPORT | |
| NCSL FOUNDATION FOR STATE LEGISLATURES | |||||||||
| 7700 EAST FIRST PLACE | DENVER | CO | 80230 | 742232576 | 501 (c ) (3) | $7,500 | $0 | PROGRAM SUPPORT | |
| COMMITTEE ON CAPITAL MARKETS REGULATION INC | |||||||||
| 125 MOUNT AUBURN STREET | CAMBRIDGE | MA | 02138 | 300406260 | 501 (c ) (3) | $50,000 | $0 | PROGRAM SUPPORT | |
| Smithsonian American Art Museum | |||||||||
| 750 9TH ST NW 3800 | WASHINGTON | DC | 20001 | 530206027 | 501 (c ) (3) | $27,500 | $0 | PROGRAM SUPPORT | |
| SEC HISTORICAL SOCIETY | |||||||||
| 1101 PENN AVE NW | WASHINGTON | DC | 20004 | 522213646 | 501 (c ) (3) | $10,000 | $0 | PROGRAM SUPPORT | |
| NAPSA | |||||||||
| PO BOX 96503 PMB 74669 | WASHINGTON | DC | 20090 | 300044497 | 501 (c ) (3) | $17,500 | $0 | PROGRAM SUPPORT | |
| WOMEN'S INSTITUTE FOR A SECURE RETIREMENT | |||||||||
| 1140 19TH ST NW 550 | WASHINGTON | DC | 20036 | 521997317 | 501 (c ) (3) | $20,000 | $0 | PROGRAM SUPPORT | |
| UNITED STATES CAPITOL HISTORICAL SOCIETY | |||||||||
| 200 MARYLAND AVE NE | WASHINGTON | DC | 20002 | 520796820 | 501 (c ) (3) | $20,000 | $0 | PROGRAM SUPPORT | 501c3 |
| AMERICAN COUNCIL FOR CAPITAL FORMATION | |||||||||
| 1001 CONNECTICUT AVE | WASHINGTON | DC | 20036 | 520991278 | 501 (c ) (6) | $10,000 | $0 | PROGRAM SUPPORT | |
| PREVENT CANCER FOUNDATION | |||||||||
| 1600 DUKE ST 500 | ALEXANDRIA | VA | 22314 | 521429544 | 501 (c ) (3) | $10,000 | $0 | PROGRAM SUPPORT | |
| WASHINGTON TENNIS & EDUCATION FOUNDATION | |||||||||
| 16TH KENNEDY ST NW | WASHINGTON | DC | 20011 | 526046504 | 501 (c ) (3) | $7,625 | $0 | PROGRAM SUPPORT | |
| FORMER MEMBERS OF CONGRESS INC | |||||||||
| 1401 K ST NW 503 | WASHINGTON | DC | 20005 | 540883744 | 501 (c ) (3) | $6,000 | $0 | PROGRAM SUPPORT | |
| American Action Forum | |||||||||
| 1747 Penn Ave NW | Washington | DC | 20006 | 270567765 | 501 (c ) (3) | $25,000 | $0 | PROGRAM SUPPORT | |
| Americans for Tax Reform | |||||||||
| 722 12th Street NW | Washington | DC | 20005 | 521403587 | 501 (c ) (4) | $25,000 | $0 | PROGRAM SUPPORT | |
| The Brookings Institution | |||||||||
| 1775 Mass Ave NW | WASHINGTON | DC | 20036 | 530196577 | 501 (c ) (3) | $100,000 | $0 | PROGRAM SUPPORT | |
| Bipartisan Policy Center | |||||||||
| 1225 Eye Street NW | WASHINGTON | DC | 20005 | 731628382 | 501 (c ) (3) | $100,000 | $0 | PROGRAM SUPPORT | |
| Competitive Enterprise Institute | |||||||||
| 1310 L ST NW 7TH FLOOR | WASHINGTON | DC | 20005 | 521351785 | 501 (c ) (3) | $17,500 | $0 | PROGRAM SUPPORT | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 16 | Total501c3OrgCnt |
| Total Other Org | 2 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE I, PART I, LINE 2 | FormAndLineReferenceDesc |
| Explanation | GRANT MONITORING SIFMA PROVIDES SUPPORT TO CHARITABLE ORGANIZATIONS TO HELP THOSE ORGANIZATIONS FURTHER THEIR EXEMPT PROGRAMS. SIFMA IS NOT A GRANT MAKING ORGANIZATION BUT WILL OCCASIONALLY AWARD A GRANT TO ORGANIZATIONS IN SUPPORT OF A PROJECT THAT ALIGNS ITSELF WITH SIFMA'S MISSION OF PROMOTING AND SUPPORTING A STRONG FINANCIAL INDUSTRY. SIFMA MAINTAINS IN ITS RECORDS THE ACKNOWLEDGMENT LETTER FROM THE RECIPIENT ORGANIZATION AND ANY FOLLOW UP REPORTS ON THE USE OF GRANT FUNDS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (12 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KENNETH E BENTSEN JR | ||||||||||||||
| PRESIDENT AND CEO | $1,514,282 | $0 | $850,000 | $0 | $3,681 | $0 | $32,400 | $0 | $44,738 | $0 | $2,445,101 | $0 | $0 | $0 |
| RANDOLPH C SNOOK | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $667,939 | $0 | $400,000 | $0 | $3,681 | $0 | $34,644 | $0 | $34,928 | $0 | $1,141,192 | $0 | $0 | $0 |
| IRA D HAMMERMAN | ||||||||||||||
| EVP & GEN. COUNSEL, SECRETARY | $588,842 | $0 | $370,000 | $0 | $21,681 | $0 | $48,150 | $0 | $42,678 | $0 | $1,071,351 | $0 | $0 | $0 |
| CHERYL L CRISPEN | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $361,205 | $0 | $197,500 | $0 | $1,969 | $0 | $32,400 | $0 | $40,988 | $0 | $634,062 | $0 | $0 | $0 |
| ANDY BLOCKER | ||||||||||||||
| EXECUTIVE VP (THRU 01/2018) | $546,255 | $0 | $210,000 | $0 | $1,284 | $0 | $32,400 | $0 | $44,488 | $0 | $834,427 | $0 | $0 | $0 |
| DAVID B KRASNER | ||||||||||||||
| CFO & CAO | $402,371 | $0 | $265,000 | $0 | $1,969 | $0 | $32,400 | $0 | $42,628 | $0 | $744,368 | $0 | $0 | $0 |
| SALVATORE CHIARELLI | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $223,885 | $0 | $115,000 | $0 | $1,284 | $0 | $32,400 | $0 | $24,294 | $0 | $396,863 | $0 | $0 | $0 |
| TIMOTHY W CAMERON | ||||||||||||||
| MANAGING DIRECTOR | $427,614 | $0 | $182,500 | $0 | $5,651 | $0 | $32,400 | $0 | $35,647 | $0 | $683,812 | $0 | $0 | $0 |
| KEVIN CARROLL | ||||||||||||||
| MANAGING DIRECTOR | $334,135 | $0 | $125,000 | $0 | $1,969 | $0 | $32,400 | $0 | $4,683 | $0 | $498,187 | $0 | $0 | $0 |
| MICHAEL B DECKER | ||||||||||||||
| MANAGING DIRECTOR | $367,607 | $0 | $105,000 | $0 | $3,681 | $0 | $34,644 | $0 | $24,034 | $0 | $534,966 | $0 | $0 | $0 |
| CARTER K MCDOWELL | ||||||||||||||
| MANAGING DIRECTOR | $415,508 | $0 | $85,000 | $0 | $3,681 | $0 | $32,400 | $0 | $34,466 | $0 | $571,055 | $0 | $0 | $0 |
| JOHN MAURELLO | ||||||||||||||
| MANAGING DIRECTOR | $330,423 | $0 | $120,000 | $0 | $23,651 | $0 | $60,075 | $0 | $14,977 | $0 | $549,126 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE J, PART I, LINE 1A | FIRST-CLASS TRAVEL PER THE EMPLOYMENT CONTRACT, SIFMA PROVIDED FIRST CLASS AIR TRAVEL WHEN TRAVELING FOR SIFMA BUSINESS FOR KENNETH E. BENTSEN, JR., PRESIDENT AND CEO. THE FIRST-CLASS AIR TRAVEL WAS EXCLUDED FROM TAXABLE COMPENSATION ON THE INDIVIDUAL'S FORM W-2 BECAUSE IT WAS INCURRED FOR BUSINESS REASONS. |
| SCHEDULE J, PART I, LINE 4B | SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN EVP AND GENERAL COUNSEL PARTICIPATES IN A 457(F)PLAN. HE RECEIVED A TAXABLE PAYMENT OF $18,000 INCLUDED IN HIS W-2. MANAGING DIRECTOR ALSO RECEIVED $18,000 AS PART OF THE 457(F) PLAN, INCLUDED IN HIS W-2 WAGES. SIFMA CONTRIBUTED $43,425 INTO THE 457(F) PLAN DURING CALENDAR YEAR 2017 FOR BOTH PARTICIPANTS. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART 1, LINE 6 | VOLUNTEERS THE NUMBER OF VOLUNTEERS WAS DERIVED FROM SIFMA COMMITTEE PARTICIPANTS PER THE MEMBERSHIP DATABASE. |
| PART III, LINE 1 | MISSION (CONTINUED) SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. Our principal role is to advocate on behalf of our members interests before policymakers, regulators, the media and the public. Our primary focus is on legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. SIFMA also serves as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. |
| PART III, LINE 4A | STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS: PROGRAM SERVICES CONTINUED CYBERSECURITY Cybersecurity is a top priority in the financial industry to ensure the security of customer assets and information and the efficient, reliable execution of transactions within markets. It is a shared objective that demands an integrated approach but is often complicated with an overlapping patchwork of regulation. In fact, no fewer than 11 federal agencies impose some form of cybersecurity requirements. This is in addition to individual state, SRO and jurisdictional requirements, as well as standards from the National Institute of Standards and Technology (NIST) and International Organization for Standardization (ISO). As a global industry, all market participants are interconnected and part of the same ecosystem and need to work together to protect the sector as a whole. An effective and efficient cybersecurity policy is achieved most easily through harmonized, risk-based global standards that leverage extensive investments already made. The financial industry is committed to furthering the development of industry-wide cybersecurity initiatives that protect our clients and critical business infrastructure, improve data sharing between public and private entities and safeguard customer information. SIFMA is actively engaged in coordinating the effort to support a safe, secure information infrastructure, with cybersecurity resources which provide security of customer information and efficient, reliable execution of transactions. PERSONAL DATA AGGREGATION Clients have the ability to aggregate personal financial information on third-party platforms to assess their financial position. This data aggregation creates valuable opportunities for clients but also has the potential to put their data at risk if it is misused, mishandled or misappropriated. An individuals personal information is invaluable, and its protection is of paramount importance. The financial industry is committed to ensuring the safety of the clients we serve at every turn. SIFMA is coordinating a broad-based industry effort to protect a customers financial information, with a focus on investors right to securely access their own data. We have created a set of industry-wide Principles for protecting, sharing and aggregating customer financial information. SIFMA has also introduced consumer resources for our members to help consumers better protect their data and discuss this important issue with their clients and is a founding member and serves on the Board of the Financial Data Exchange (FDX). CONSOLIDATED AUDIT TRAIL (CAT) The SEC and the SROs continue to develop a comprehensive Consolidated Audit Trail (CAT) that would enable regulators to efficiently and accurately track all activity throughout the U.S. for equities and options trades. The CAT will allow regulators to link every order through its entire life cycle, including cancellations, modifications and executions, and the CAT database will link all orders with the account holder. As such, the CAT will enable regulators to conduct cross-market surveillance and market reconstruction by pulling together detailed trading data from all market centers. SROs began reporting data to the CAT in November 2018; they will develop analytic capabilities for CAT data in early 2019. Large broker-dealers are scheduled to begin reporting in November 2019 and remaining market participants in November 2020. SIFMA has focused on concerns around risks related to the collection of Personally Identifiable Information (PII). SIFMA has engaged the SEC and the SROs for adjustments to the CAT to ensure adequate data protection and response, as well as restricting access to any submitted data to a strictly controlled environment. BEST INTEREST STANDARD SIFMA strongly supports enhancing investor protections by establishing a heightened and more stringent broker-dealer best interest standard. The SEC should establish such a best interest of the customer standard through its rulemaking authority under the Securities Exchange Act of 1934. Regulation Best Interest does just that. Reg BI a decade in the making is a key development for retail brokerages and the clients they serve because it clearly and significantly raises the regulatory bar. Reg BI would require broker-dealers to act in the best interest of their retail customers when making a recommendation of any securities transaction or investment strategy involving securities to a retail customer. This new standard would apply across all brokerage accounts, would preserve a clients right to choose, and would effectively bring regulation up-to-date to where the industry is already operating. The SEC proposal also included two additional components, a proposed Form Customer Relationship Summary (Form CRS), and an interpretation regarding the standard of conduct for investment advisers. Notwithstanding SIFMAs general support, SIFMA has recommended that various aspects of Reg BI, as well as the other two component proposals, should be modified and/or clarified in order to allow firms to implement the regulation in a manner that would most effectively benefit investors. Protecting Senior Investors It is vital that we are able to protect our senior investors from financial exploitation and the dangers of cognitive decline. SIFMA has been working with industry members, academics, and state and federal lawmakers to advance policies, practices, rules, regulations and statutes which enhance senior investor protections. A growing number of states have enacted senior investor protection laws that extend to broker-dealers, and several others are currently working to develop a similar path. Additionally, FINRA Rule 2165, permitting pauses on certain suspicious activity, and FINRA Rule 4512, requiring firms to request trusted contact information from certain clients, went into effect in February 2018. SIFMA continues to push for updated laws and regulations to get ahead of this emerging threat and better equip advisors - through regional workshops, toolkits and more - to protect their aging client base. This is an issue of increasing importance, and SIFMA looks to continue to lead on this issue, as it has for the past several years. Fixing the Broken Fee Structure for Market Data Market data is the information on quotations and trades in each of the thousands of securities traded daily in U.S. financial markets. High-quality and reliable market data products are essential to enable all investors to make informed investment decisions. The SEC's Regulations NMS requires exchanges to provide quote and trade information to Securities Information Processors (SIPs), which distribute the public feed of "top-of-book" market data. In addition, Regulation NMS allows exchanges to sell proprietary products, which provide "depth-of-book" market data. Each exchange is a monopoly source of its own depth-of-book data, and broker-dealers rely on that complete set of market data to achieve best execution for their customers. SIFMA has long argued that the exchanges charge excessive fees for both top-of-book and depth-of-book market data. These excessive fees lead to unnecessary trading costs for all investors. In October 2018, the SEC agreed with SIFMA, unanimously ruling against two exchanges and finding that the exchanges had not adequately justified their price increases. SIFMA will continue to push for reform of this broken system, including changes to the market data monopoly advantage that exchanges enjoy under Regulation NMS. |
| PART III, LINE 4B | STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS: PROGRAM SERVICES CONTINUED ADVOCACY SIFMA, ON BEHALF OF THE FINANCIAL SERVICES INDUSTRY, ENGAGES WITH POLICYMAKERS AND REGULATORS ON A STATE, FEDERAL AND GLOBAL LEVEL THROUGH COMMENT LETTERS, TESTIMONY, STUDIES AND MORE. SIFMAS GOAL IS TO ENSURE REGULATION IS EFFECTIVE, BALANCED AND CONSISTENT WITH ITS INTENDED PURPOSE, APPROPRIATELY COORDINATED WITH OTHER REGULATORS AND REGULATORY REGIMES, AND AVOIDS CONSTRAINING CAPITAL FORMATION AND CREDIT AVAILABILITY, OR OTHERWISE IMPEDING THE FUNCTIONING OF THE MARKETS AND THE INDIVIDUALS THEY SERVE. INTERNATIONAL ISSUES Financial services are crucial to U.S. economic prosperity, helping fuel economic activity across all industries, including manufacturing, agriculture and technology. SIFMA believes free- and fair-trade agreements promote U.S. economic growth and job creation by expanding opportunities for financial services firms to compete in overseas markets and better serve their clients. The U.S. relationship with China, the U.K. and the EU are some of the most important in the world. SIFMA continues to advocate for a level playing field between domestic and foreign financial services firms in China and supports efforts to strengthen the U.S.-China economic relationship through the U.S.-China Comprehensive Economic Dialogue. In Europe, Brexit has potentially huge implications for the financial services industry, and will fundamentally transform the U.S. relationship with U.K. and EU. With just two years until the prospective transition period ends (conditional on the two sides agreeing on the terms of separation), we continue to coordinate closely with our colleagues at the Association for Financial Markets in Europe (AFME) and Global Financial Markets Association (GFMA) to help the U.K. and EU deliver Brexit in a way that protects global financial stability. In the western hemisphere, SIFMA welcomed the news that the United States, Canada and Mexico reached agreement on a trilateral trade and investment deal to succeed NAFTA. For the first time ever in a trade and investment agreement, provisions prohibiting data localization and improving the free flow of data across borders, which are so important to many of our members businesses, is protected. SIFMA is also engaged in the financial services aspects of prospective bilateral trade and investment agreements between the U.S. and the U.K., EU and Japan. |
| PART III, LINE 4C | STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS: PROGRAM SERVICES CONTINUED SIFMA ANNUAL MEETING Each fall, SIFMAs Annual Meeting gathers the most influential voices shaping todays capital markets. Through candid one-on-one conversations, expert panel discussions and in-depth breakout sessions, we assess challenges and gain insights into opportunities ahead. SIFMA COMPLIANCE & LEGAL SOCIETY ANNUAL SEMINAR SIFMAs C&L Annual Seminar is the premier event for compliance and legal professionals working in the financial services industry. This seminar provides a unique opportunity for industry leaders and regulators to gather for three days of information sharing, networking and collaboration. With noted keynote speakers and 60+ in-depth breakout sessions, participants earn CLE credit while discussing the latest industry developments and collaborating on best practices. OPERATIONS CONFERENCE & EXHIBITION SIFMAs annual Operations Conference & Exhibition gathers operations, technology and regulatory leaders from across the securities industry for three days of collaboration, addressing key priorities and challenges. With the industry continuing to evolve in response to policy, risk, technology and regulatory changes, Ops delves into the dynamic and complex environment that is reshaping operations, the customer experience and market requirements. THE SECURITIES INDUSTRY INSTITUTE The Securities Industry Institute (SII) is the premier executive development program for financial industry professionals, hosted by SIFMA and Wharton. For 69 years, SIFMA and The Wharton School at the University of Pennsylvania have partnered to develop the industrys high-potential, rising leaders. Each March, SII brings together 800 participants from across the industry with a world-class faculty on the campus of The Wharton School in Philadelphia. Participants meet for one week over three consecutive years to develop leadership and managerial skills, and enhance investment and industry knowledge. SIIs cost-effective talent development approach delivers actionable knowledge that is implementable today: the mission of the Institute is to equip each participant with practical information, ideas, and answers directly applicable to their present and future responsibilities. Its customized curriculum is redesigned each year to reflect the needs of an ever-changing industry landscape. |
| PART III, LINE 4D | STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS: OTHER PROGRAM SERVICES CONTINUED SERVING AS A SOURCE OF MARKET INFORMATION, INCLUDING STATISTICS ON MANY FACETS OF THE MARKET PLACE AND PUBLISHING RESEARCH REPORTS, TRADE NEWSLETTERS AND OTHER PERIODICALS AND BOOKS. |
| PART VI, SECTION A, LINE 6 | MEMBERS SIFMA IS A MEMBERSHIP ORGANIZATION WITH THE FOLLOWING CLASSES OF MEMBERSHIP: BROKER-DEALER MEMBERS AND ASSET MANAGER MEMBERS EACH BROKER-DEALER MEMBER AND ASSET MANAGER MEMBER SHALL BE ENTITLED TO VOTE WITH RESPECT TO THE ELECTION OF DIRECTORS AND OTHER MATTERS AS MAY BE SUBMITTED AT ANY ANNUAL OR OTHER MEETING OF MEMBERS ENTITLED TO VOTE. ASSOCIATE MEMBERS ASSOCIATE MEMBERS SHALL NOT BE ENTITLED TO VOTE WITH RESPECT TO THE ELECTION OF DIRECTORS AND OTHER MATTERS AS MAY BE SUBMITTED AT ANY ANNUAL OR OTHER MEETING OF MEMBERS ENTITLED TO VOTE, AND SHALL NOT BE ELIGIBLE TO SERVE AS DIRECTORS OF THE ASSOCIATION. |
| PART VI, SECTION B, LINE 11A | FORM 990 REVIEW PROCESS THE ACCOUNTING DEPARTMENT OF THE ORGANIZATION PREPARES THE FORM 990 BASED ON AUDITED FINANCIAL INFORMATION. THE DRAFT FORM 990 IS THEN REVIEWED BY MANAGEMENT AND AN EXTERNAL INDEPENDENT ACCOUNTING FIRM. THE AUDIT AND FINANCE COMMITTEE WILL REVIEW THE FINAL DRAFT SIGNED OFF BY THE EXTERNAL INDEPENDENT TAX ACCOUNTANT. THIS REVIEW WILL BE NOTED AS AN AGENDA ITEM AT AN AUDIT AND FINANCE COMMITTEE MEETING AND WILL BE DULY NOTED IN THE MINUTES. THE FORM 990 WILL BE PROVIDED TO ALL VOTING MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO SUBMISSION TO THE IRS. |
| PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT ANY EMPLOYEE IN A POSITION WHERE HIS OR HER OBJECTIVITY MAY BE QUESTIONED BECAUSE OF AN INDIVIDUAL INTEREST OR FAMILY OR PERSONAL RELATIONSHIP IS REQUIRED TO NOTIFY THE GENERAL COUNSEL. SIMILARLY, ANY EMPLOYEE AWARE OF ANY TRANSACTION OR RELATIONSHIP THAT COULD REASONABLY BE EXPECTED TO GIVE RISE TO A PERSONAL CONFLICT OF INTEREST IS REQUIRED TO DISCUSS THE MATTER PROMPTLY WITH THE GENERAL COUNSEL. IN ADDITION, ONCE EVERY YEAR, DIRECTORS, OFFICERS, KEY EMPLOYEES, AND ALL THE EMPLOYEES OF SIFMA ARE REQUIRED TO REVIEW A COPY OF THE CONFLICT OF INTEREST POLICY AND TO ACKNOWLEDGE IN WRITING THAT HE OR SHE IS COMPLIANT. |
| PART VI, SECTION B, LINE 15 | PROCESS FOR DETERMINING COMPENSATION THE EXECUTIVE COMMITTEE AND THE BOARD ACTING AS COMPENSATION COMMITTEE HIRE CONSULTANTS TO REVIEW COMPARABLE PACKAGES FOR ANY NEW INCOMING CEO AND OFFICERS. THE CONSULTANT PRESENTS DATA FOR COMPARABLE POSITIONS BOTH LOCALLY AND NATIONALLY AND THE BOARD'S EXECUTIVE COMMITTEE MAKES THE FINAL DECISION FOR THE SALARY PACKAGE. CURRENTLY, THE CEO HAS AN EMPLOYMENT CONTRACT WHICH WAS APPROVED BY THE EXECUTIVE COMMITTEE AND THE BOARD, GOVERNING ANNUAL SALARY INCREASE AND ANY BONUS PAYMENTS. FOR THE REMAINING SENIOR OFFICERS, THE ANNUAL SALARY INCREASE AND BONUS PAYMENTS ARE DETERMINED BY THE ANNUAL EVALUATION PROCESS WHICH MUST BE APPROVED BY THE BOARD'S COMPENSATION COMMITTEE. |
| PART VI, SECTION C, LINE 19 | AVAILABILITY OF DOCUMENTS ANY REQUEST FOR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS WILL BE PROVIDED UPON REQUEST AT MANAGEMENT'S DISCRETION. |
| PART XI, LINE 9 | RECONCILIATION OF NET ASSETS POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC POSTRETIREMENT BENEFIT COST ($713,150) OTHER NONOPERATING EXPENSE $48,473 MEMBERSHIP DUES RESERVE $1,250 ---------- TOTAL OTHER CHANGES: ($663,427) ========== |
Comments