MUNICIPAL SECURITIES RULEMAKING BOARD: Form 990, tax year 2017
View the entire original 990 at ProPublica ↗
- Organization
- MUNICIPAL SECURITIES RULEMAKING BOARD (EIN 52-1042433)
- Tax period
- 2017-10-01 to 2018-09-30
- Filed
- 2019-02-08
- IRS object ID
- 201910399349300226
- 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 | 2019-02-08T11:04:01-06:00 | ReturnTs |
| Tax Period End | 2018-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PricewaterhouseCoopers LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 600 13TH ST NW STE 1000 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2017-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521042433 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MUNICIPAL SECURITIES RULEMAKING BOARD | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % BONNIE MOYNIHAN | InCareOfNm |
| Business Name Control | MUNI | BusinessNameControlTxt |
| Phone | 2028381500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1300 I Street NW Suite STE 1000 | AddressLine1Txt |
| City | Washington | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LYNNETTE KELLY | PersonNm |
| Person Title | CHIEF EXEC. OFFICER | PersonTitleTxt |
| Signature | 2019-02-07 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | TRAVIS L PATTON | PreparerPersonNm |
| PTIN | P00369623 | PTIN |
| Phone | 2024141000 | PhoneNum |
| Preparation | 2019-02-06 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 155.201.188.33 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Federal Original Submission Id | 52580220190395000000 | FederalOriginalSubmissionId |
| Federal Original Submission Id | 2019-02-08 | FederalOriginalSubmissionIdDt |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 0F88DFED7540E0115A284F5DEC2A5C89A8D4765E | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 3188CC9ED81B9C6F51D1E724B8736A3BAF9980AF | 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 | Lynnette Kelly | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | SAME AS C ABOVE | AddressLine1Txt |
| City | Washington | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $42,100,901 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.MSRB.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1975 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | MSRB's mission is to promote a fair and efficient municipal securities market. | ActivityOrMissionDesc |
| Voting Members Governing Body | 21 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 21 | VotingMembersIndependentCnt |
| Total Employee | 139 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $131,987 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $36,751,638 | PYContributionsGrantsAmt |
| CY Contributions Grants | $38,301,643 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,900,218 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $2,938,970 | CYProgramServiceRevenueAmt |
| PY Investment Income | $667,045 | PYInvestmentIncomeAmt |
| CY Investment Income | $860,288 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $41,318,901 | PYTotalRevenueAmt |
| CY Total Revenue | $42,100,901 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $20,320,122 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $21,199,215 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $15,513,449 | PYOtherExpensesAmt |
| CY Other Expenses | $16,179,089 | CYOtherExpensesAmt |
| PY Total Expenses | $35,833,571 | PYTotalExpensesAmt |
| CY Total Expenses | $37,378,304 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $5,485,330 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $4,722,597 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $84,511,116 | TotalAssetsBOYAmt |
| Total Assets EOY | $88,567,608 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $10,074,504 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $9,752,147 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $74,436,612 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $78,815,461 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | See Schedule O | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | Establishing regulations and supporting guidance for municipal advisors and dealers: See Schedule O | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Collecting and disseminating market information: See Schedule O | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Engaging in education, outreach and market leadership: See 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 | false | 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 | false | 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 | Yes (true) | 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 | 70 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 139 | 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 | 21 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 21 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (true) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BONNIE MOYNIHAN | PersonNm |
| Phone | 2028381500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1300 I STREET NW SUITE 1000 | AddressLine1Txt |
| City | Washington | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (42 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 | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| Lucy Hooper | ||||||||||
| Director, Board Chair | 6.0 | 0.0 | Yes (X) | Yes (X) | $60,000 | $0 | $0 | |||
| Arthur M Miller | ||||||||||
| Director, Board Vice Chair | 4.0 | 0.0 | Yes (X) | Yes (X) | $57,800 | $0 | $0 | |||
| J Anthony Beard | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $49,050 | $0 | $0 | ||||
| Renee Boicourt | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $47,800 | $0 | $0 | ||||
| Robert C Brown | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $47,500 | $0 | $0 | ||||
| Julia H Cooper | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $47,800 | $0 | $0 | ||||
| Ronald J Dieckman | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $47,500 | $0 | $0 | ||||
| Richard K Ellis | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $52,250 | $0 | $0 | ||||
| William M Fitzgerald Sr | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $14,550 | $0 | $0 | ||||
| Jerry W Ford | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $47,800 | $0 | $0 | ||||
| Richard Froehlich | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $47,800 | $0 | $0 | ||||
| Manju S Ganeriwala | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $13,750 | $0 | $0 | ||||
| Gary Hall | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $49,050 | $0 | $0 | ||||
| Kemp J Lewis | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $47,800 | $0 | $0 | ||||
| Lakshmi Kommi | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $40,909 | $0 | $0 | ||||
| Seema Mohanty | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $14,850 | $0 | $0 | ||||
| Christopher M Ryon | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $47,500 | $0 | $0 | ||||
| Rita Sallis | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $37,500 | $0 | $0 | ||||
| Donna M Simonetti | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $14,850 | $0 | $0 | ||||
| Edward J Sisk | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $47,500 | $0 | $0 | ||||
| Dale Turnipseed | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $47,800 | $0 | $0 | ||||
| Beth Wolchock | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $14,050 | $0 | $0 | ||||
| Lynnette Kelly | ||||||||||
| Chief Executive Officer | 40.0 | 0.0 | Yes (X) | $865,397 | $0 | $169,966 | ||||
| Nanette D Lawson | ||||||||||
| Treasurer and CFO | 40.0 | 0.0 | Yes (X) | $228,159 | $0 | $54,359 | ||||
| Ronald W Smith | ||||||||||
| Corporate Secretary | 40.0 | 0.0 | Yes (X) | $223,426 | $0 | $32,273 | ||||
| Amytis G Ramos | ||||||||||
| Assistant Corporate Secretary | 40.0 | 0.0 | Yes (X) | $102,755 | $0 | $43,556 | ||||
| Mallory Bucher | ||||||||||
| Assistant Corporate Secretary | 40.0 | 0.0 | Yes (X) | $107,527 | $0 | $18,475 | ||||
| Michael Post | ||||||||||
| General Counsel | 40.0 | 0.0 | Yes (X) | $437,410 | $0 | $29,420 | ||||
| John A Bagley | ||||||||||
| Chief Market Structure Officer | 40.0 | 0.0 | $462,906 | $0 | $53,987 | Yes (X) | ||||
| Mark Kim | ||||||||||
| Chief Operating Officer | 40.0 | 0.0 | $396,690 | $0 | $39,950 | Yes (X) | ||||
| Ritta McLaughlin | ||||||||||
| Chief Education Officer | 40.0 | 0.0 | $341,652 | $0 | $43,365 | Yes (X) | ||||
| Gail Marshall | ||||||||||
| Chief Compliance Officer | 40.0 | 0.0 | $321,520 | $0 | $43,419 | Yes (X) | ||||
| Jennifer A Galloway | ||||||||||
| Chief Communications Officer | 40.0 | 0.0 | $266,220 | $0 | $60,476 | Yes (X) | ||||
| Margaret Blake | ||||||||||
| Associate General Counsel | 40.0 | 0.0 | $255,141 | $0 | $54,064 | Yes (X) | ||||
| Pamela Ellis | ||||||||||
| Associate General Counsel | 40.0 | 0.0 | $254,252 | $0 | $34,386 | Yes (X) | ||||
| Colleen Woodell | ||||||||||
| Former Director, Board Chair | 0.0 | 0.0 | $60,000 | $0 | $0 | Yes (X) | ||||
| Steve Apfelbacher | ||||||||||
| Former Director | 0.0 | 0.0 | $37,500 | $0 | $0 | Yes (X) | ||||
| Dall Forsythe | ||||||||||
| Former Director | 0.0 | 0.0 | $33,750 | $0 | $0 | Yes (X) | ||||
| Patrick Sweeney | ||||||||||
| Former Director | 0.0 | 0.0 | $22,500 | $0 | $0 | Yes (X) | ||||
| Elizabeth A Wolfe | ||||||||||
| Former Chief Risk Officer | 0.0 | 0.0 | $352,742 | $0 | $44,380 | Yes (X) | ||||
| Sara Ahmadzai | ||||||||||
| Former Asst. Corp. Secretary | 0.0 | 0.0 | $107,520 | $0 | $22,841 | Yes (X) | ||||
| Robert Fippinger | ||||||||||
| Former Chief Legal Officer | 0.0 | 0.0 | $368,802 | $0 | $33,549 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $6,141,278 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $778,466 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 63 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | 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 |
|---|---|---|---|---|---|
| CC Pace Systems Inc | |||||
| 4100 Monument Corner Drive Suite 4 | FAIRFAX | VA | 22030 | Software Development | $1,932,240 |
| Sidley Austin LLP | |||||
| 1501 K Street | WASHINGTON | DC | 20005 | LEGAL-G37 LITIGATION | $563,468 |
| Allen Interactions | |||||
| 1120 Centre Pointe Drive | MENDOTA HEIGHTS | MN | 20001 | Education Cont. Dev. | $441,349 |
| Envoy Consulting Group | |||||
| 3925 N Woodstock Street | ARLINGTON | VA | 22207 | Software Development | $388,594 |
| Sutherland Global Services | |||||
| 1160 Pittsford-Victor Rd | PITTSFORD | NY | 14534 | Call Center | $291,984 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 12 | CntrctRcvdGreaterThan100KCnt |
| Membership Dues | $38,301,643 | MembershipDuesAmt |
| Total Contributions | $38,301,643 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| DATA SUBSCRIPTIONS | 900099 | $2,164,411 | $2,164,411 |
| VIOLATION FINE REVENUE | 900099 | $317,792 | $317,792 |
| PROFESSIONAL QUALIFICATION EXAM FEES | 900099 | $384,300 | $384,300 |
| MUNIEDPRO | 900099 | $44,953 | $44,953 |
| OTHER INCOME | 900099 | $27,514 | $27,514 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $2,938,970 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $860,288 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $860,288 | RelatedOrExemptFuncIncomeAmt |
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 | $0 | TotalRevenueColumnAmt |
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 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $42,100,901 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,799,258 | RelatedOrExemptFuncIncomeAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | 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 | $5,173,729 | 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 | $12,788,729 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $903,724 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,355,850 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $977,183 | TotalAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $129,723 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $317,215 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,875 | 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 | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,872,079 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $515,095 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,371,170 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,365,275 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $552,055 | 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 | $363,152 | 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 | $4,157,031 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $253,772 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DATA AND INFORMATION SERVICES | $1,383,243 |
| DUES, REGISTRATIONS, TRAINING | $184,916 |
| PROPERTY AND OTHER TAXES | $395,149 |
| OTHER | $317,339 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,378,304 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $457,097 | BOYAmt |
| EOY | $455,520 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,407,245 | BOYAmt |
| EOY | $1,220,403 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,868,984 | BOYAmt |
| EOY | $5,744,835 | 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 | $1,460,666 | BOYAmt |
| EOY | $1,459,687 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $44,643,930 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $30,725,542 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,513,381 | BOYAmt |
| EOY | $13,918,388 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $61,803,743 | BOYAmt |
| EOY | $65,768,775 | 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 | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,511,116 | BOYAmt |
| EOY | $88,567,608 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,642,899 | BOYAmt |
| EOY | $2,771,342 | 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 | $250,648 | BOYAmt |
| EOY | $304,454 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,180,957 | BOYAmt |
| EOY | $6,676,351 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,074,504 | BOYAmt |
| EOY | $9,752,147 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,436,612 | BOYAmt |
| EOY | $78,815,461 | 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 | $74,436,612 | BOYAmt |
| EOY | $78,815,461 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,511,116 | BOYAmt |
| EOY | $88,567,608 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $4,722,597 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$343,748 | NetUnrlzdGainsLossesInvstAmt |
| 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 | false | AgreeCarryoverPriorYearInd |
| Dues Assessments | $38,301,643 | DuesAssessmentsAmt |
| Non Deductible Lbbyng Pltcl CY | $17,701 | NonDeductibleLbbyngPltclCYAmt |
| Non Deductible Lbbyng Pltcl Tot | $17,701 | NonDeductibleLbbyngPltclTotAmt |
| Taxable | $17,701 | TaxableAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| 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 | $4,051,796 | OtherCostOrOtherBasisAmt |
| Depreciation | $872,820 | DepreciationAmt |
| Book Value | $3,178,976 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,286,546 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,583,012 | DepreciationAmt |
| Book Value | $703,534 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $35,305,588 | OtherCostOrOtherBasisAmt |
| Depreciation | $25,269,710 | DepreciationAmt |
| Book Value | $10,035,878 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $13,918,388 | TotalBookValueLandBuildingsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEFERRED RENT | Desc |
| Amt | $6,676,351 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $6,676,351 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $41,757,153 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$343,748 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | -$343,748 | RevenueNotReportedAmt |
| Revenue Subtotal | $42,100,901 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $42,100,901 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $37,378,304 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $37,378,304 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $37,378,304 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCHEDULE D, PART X, LINE 2 - FIN 48 (ASC 740) FOOTNOTE | FormAndLineReferenceDesc |
| Explanation | The MSRB addresses uncertain tax positions in accordance with ASC Topic 740, Income Taxes, which provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in financial statements. During the years from 2015 to 2018, which represent the years management considers to be open for examination by taxing authorities, management did not identify the existence of any uncertain tax position. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| 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 |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| 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 (19 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Lynnette Kelly | ||||||||||||||
| Chief Executive Officer | $719,088 | $0 | $121,000 | $0 | $25,309 | $0 | $150,522 | $0 | $19,444 | $0 | $1,035,363 | $0 | $0 | $0 |
| Nanette D Lawson | ||||||||||||||
| Treasurer and CFO | $201,359 | $0 | $26,800 | $0 | $0 | $0 | $17,912 | $0 | $36,447 | $0 | $282,518 | $0 | $0 | $0 |
| Ronald W Smith | ||||||||||||||
| Corporate Secretary | $208,203 | $0 | $15,223 | $0 | $0 | $0 | $19,982 | $0 | $12,291 | $0 | $255,699 | $0 | $0 | $0 |
| Michael Post | ||||||||||||||
| General Counsel | $383,910 | $0 | $53,500 | $0 | $0 | $0 | $18,900 | $0 | $10,520 | $0 | $466,830 | $0 | $0 | $0 |
| John A Bagley | ||||||||||||||
| Chief Market Structure Officer | $401,856 | $0 | $61,050 | $0 | $0 | $0 | $18,900 | $0 | $35,087 | $0 | $516,893 | $0 | $0 | $0 |
| Mark Kim | ||||||||||||||
| Chief Operating Officer | $341,347 | $0 | $50,000 | $0 | $5,343 | $0 | $17,083 | $0 | $22,867 | $0 | $436,640 | $0 | $0 | $0 |
| Ritta McLaughlin | ||||||||||||||
| Chief Education Officer | $307,852 | $0 | $33,800 | $0 | $0 | $0 | $21,984 | $0 | $21,381 | $0 | $385,017 | $0 | $0 | $0 |
| Gail Marshall | ||||||||||||||
| Chief Compliance Officer | $298,720 | $0 | $22,800 | $0 | $0 | $0 | $20,083 | $0 | $23,336 | $0 | $364,939 | $0 | $0 | $0 |
| Jennifer A Galloway | ||||||||||||||
| Chief Communications Officer | $242,470 | $0 | $23,750 | $0 | $0 | $0 | $25,265 | $0 | $35,211 | $0 | $326,696 | $0 | $0 | $0 |
| Margaret Blake | ||||||||||||||
| Associate General Counsel | $252,441 | $0 | $2,700 | $0 | $0 | $0 | $18,362 | $0 | $35,702 | $0 | $309,205 | $0 | $0 | $0 |
| Pamela Ellis | ||||||||||||||
| Associate General Counsel | $251,552 | $0 | $2,700 | $0 | $0 | $0 | $18,002 | $0 | $16,384 | $0 | $288,638 | $0 | $0 | $0 |
| Colleen Woodell | ||||||||||||||
| Former Director, Board Chair | $60,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $60,000 | $0 | $0 | $0 |
| Steve Apfelbacher | ||||||||||||||
| Former Director | $37,500 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $37,500 | $0 | $0 | $0 |
| Dall Forsythe | ||||||||||||||
| Former Director | $33,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $33,750 | $0 | $0 | $0 |
| Patrick Sweeney | ||||||||||||||
| Former Director | $22,500 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $22,500 | $0 | $0 | $0 |
| Elizabeth A Wolfe | ||||||||||||||
| Former Chief Risk Officer | $315,742 | $0 | $37,000 | $0 | $0 | $0 | $21,314 | $0 | $23,066 | $0 | $397,122 | $0 | $0 | $0 |
| Sara Ahmadzai | ||||||||||||||
| Former Asst. Corp. Secretary | $95,375 | $0 | $7,000 | $0 | $5,145 | $0 | $9,612 | $0 | $13,229 | $0 | $130,361 | $0 | $0 | $0 |
| Robert Fippinger | ||||||||||||||
| Former Chief Legal Officer | $348,802 | $0 | $20,000 | $0 | $0 | $0 | $18,900 | $0 | $14,649 | $0 | $402,351 | $0 | $0 | $0 |
| Patrick Sweeney | ||||||||||||||
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, SCHEDULE J, PART I, LINE 1A - ADDITIONAL BENEFITS PROVIDED | The MSRB reimburses Board Members and the Chief Executive Officer for the cost of coach class air travel for flights of 3 hours or less in total one-way trip duration. For air travel more than 3 hours in total one-way trip duration, the MSRB reimburses Board Members and the Chief Executive Officer for the use of business class when available, or if only two classes of service are offered, first class. Board Members and the Chief Executive Officer are reimbursed the costs of business class rail fares. The MSRB has determined this meets the business requirement standard for not treating the benefit as compensatory on the Form W-2 or 1099. Gross-up payments are provided to the Chief Executive Officer for a taxable supplemental life insurance policy and long-term disability coverage. |
| SCHEDULE J, PART I, LINE 4b - NONQUALIFIED RETIREMENT PLAN | Lynnette Kelly, Chief Executive Officer, participated in a 457(f) supplemental nonqualified retirement plan. A contribution of $126,222 was made. |
| SCHEDULE J, PART II, COLUMN (B)(III) | Mark Kim served as a director until February 8, 2017. He then joined the MSRB as Deputy Executive Director and Chief Operating Officer. His compensation as a former director is included as other reportable compensation on Schedule J Part II, Column (B)(iii) and Part VII-A, Column (D). Sara Ahmadzai served as an officer until September 1, 2017. She then provided consulting services to the MSRB as independent contractor for the period September 2017 to August 2018. Her compensation as an independent contractor for the period within 2017 calendar year, is included as other reportable compensation on Schedule J Part II, Column (B)(iii) and Part VII-A, Column (D). |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Sara Ahmadzai | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | Officer during calendar year 2017 (through 9/1/2017) | RelationshipDescriptionTxt |
| Transaction | $34,441 | TransactionAmt |
| Transaction | Consulting services | TransactionDesc |
| Sharing Of Revenues | false | SharingOfRevenuesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCHEDULE L, PART V | FormAndLineReferenceDesc |
| Explanation | Sara Ahmadzai was an officer of the MSRB during calendar year 2017 resigning in September 2017. Following her resignation, Sara Ahmadzai signed a contract to provide consulting services to the MSRB for the period September 2017 to August 2018. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINE 7B - NET UNRELATED BUSINESS TAXABLE INCOME | The MSRB did not have any direct or indirect unrelated taxable business activities during FY 2018. However, as a result of tax reform, tax-exempt organizations are subject to unrelated business taxable income ("UBTI") tax for qualified transportation fringe benefits ("QTF") paid to employees under IRC Section 512(a)(7), effective January 1, 2018. As such, the MSRB reported QTF provided to its employees from January 1, 2018 through September 30, 2018 on 2017 Form 990, Part I Line 7b and 2017 Form 990-T accordingly. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION'S MISSION The mission of the MSRB is to protect investors, state and local government issuers, other municipal entities, and the public interest by promoting a fair and efficient municipal market through: 1. The establishment of rules for dealers and municipal advisors, 2. The collection and dissemination of market information, and 3. Market leadership, outreach and education. FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS Establishing regulations and supporting guidance for municipal advisors and dealers: The MSRB was created by Congress to regulate securities firms, banks and municipal advisors that engage in municipal securities and municipal advisory activities (collectively "regulated entities") with the goal of protecting investors, municipal entities, obligated persons and the public interest. MSRB rules seek to prevent manipulation and fraud in the municipal market, promote fair and efficient transactions, and support a free and open market in municipal securities and municipal financial products. MSRB rules generally are developed with extensive input from the public and the municipal securities industry, with an economic analysis to enhance the effectiveness and efficiency of the MSRB's rulemaking, and to meet the approval standards of the U.S. Securities and Exchange Commission (SEC). Once developed, all MSRB rules must be approved by the SEC prior to effectiveness, unless otherwise allowed by law. The MSRB also provides ongoing education, training and compliance support to ensure understanding of compliance with MSRB rules by regulated entities and operates programs that support the qualification of professionals employed by regulated entities. The MSRB does not enforce its rules but follows established procedures for coordinating with enforcement agencies charged with enforcing MSRB rules. Information regarding the MSRB's rules-including rule interpretations, requests for comment, notices to regulated entities, rule filings submitted to the SEC and compliance resources developed in conjunction with new rules or to clarify the application of existing rules-is displayed on the MSRB's website, at www.msrb.org. Regulatory, compliance and professional qualification activities during FY 2018 include: Dealer-Related Regulatory Activity 2018 Rules Approved - Amendments to MSRB Rule G-34, on CUSIP numbers, new issue, and market information requirements, to codify the MSRB's longstanding interpretive view that brokers, dealers and municipal securities dealers are "underwriters" when acting as placement agent in private placements of municipal securities, including direct purchases; - Amendments to Rule G-21, on advertising, to provide more specific content standards for advertisements by dealers, revise the rule's general standards for advertisements, reconcile analogous provisions relating to the definition of "form letter" in Rule G-21 with the definition of "correspondence" in FINRA Rule 2210, on communications, and a technical amendment to streamline the rule; - Amendments to the MSRB's facility for the Real-Time Transaction Reporting System (RTRS) to make it consistent with the re-engineering of RTRS; - Amendment to MSRB Rule A-13, on underwriting and transaction assessments for brokers, dealers and municipal securities dealers, to temporarily reduce the rate of assessment for the MSRB's underwriting, transaction and technology fees associated with market activity during the months of October 2018 through December 2018; - Amendment to Form G-45 under MSRB Rule G-45, on reporting of information on municipal fund securities, to collect additional data about the transactional fees primarily assessed by programs established to implement the Stephen Beck, Jr. Achieving a Better Life Experience (ABLE) Act of 2014. Guidance - Published new and updated frequently-asked-questions on mark-up disclosure and prevailing market price. Rules Advanced - Published request for comment on draft MSRB Rule G-36, on discretionary transactions in customer accounts, and related draft amendments to provide clarity to all dealers, securities firms and banks, on their obligations related to discretionary transactions in customer accounts, improve consistency with similar rules of other regulators and fulfill the MSRB's previously stated intention to address these types of transactions in a separate rule; - Published request for comment on retrospective review of 2012 interpretive notice concerning application of MSRB Rule G-17 to underwriters of municipal securities; - Published Request for comment on retrospective review of and draft amendments to MSRB Rule G-11 and MSRB Rule G-32 regarding syndicate practices and disclosure requirements related to primary offerings; - Published Request for comment on draft interpretive guidance on pennying and draft amendments to existing guidance on best execution. Municipal Advisor-Related Regulatory Activity 2018 Rules Approved - Establishment of new MSRB Rule G-40, on advertising by municipal advisors; - Technical amendment to MSRB Rule G-42, on duties of non-solicitor municipal advisors. Regulated Entity Compliance Resources and Activities 2018 - 32 new compliance tools and resources for municipal advisors and municipal securities dealers; - New consolidated online Compliance Center on MSRB.org; - New Compliance Tip of the Week email service; - Integration of compliance resources with relevant MSRB rules, along with a history of rule amendments. Professional Qualification Activity 2018 Rules Approved - Amendments to the Municipal Securities Representative Examination (Series 52) to make it a specialized knowledge exam; - Amendments to MSRB Rule G-3 to restructure the Municipal Securities Representative Qualification Examination and harmonize certain MSRB qualification requirements with FINRA rules; - Amendments to the content outline and selection specifications for the Series 52 examination and revisions to the content outlines for the Series 50, Series 51 and Series 53 examinations. Rules Advanced - Filed proposed rule changes to amend MSRB Rule G-3, to require municipal advisor principals to become appropriately qualified by passing the Municipal Advisor Principal Qualification Examination. Administrative Rules Adopted 2018 - As noted above, amended MSRB Rule A-13 to temporarily reduce the rate of assessment for the MSRB's underwriting, transaction and technology fees. Municipal Fund Security Activity 2018 Rules Approved - As noted above, amendment to MSRB Form G-45 to collect additional data about the transactional fees primarily assessed by programs established to implement the ABLE Act. |
| FORM 990, PART III, LINE 4B, PROGRAM SERVICE ACCOMPLISHMENTS | Collecting and disseminating market information: The MSRB collects municipal market documents and data from regulated entities, municipal entities, obligated persons and/or their agents and makes the information publicly available. The collection and dissemination of this information serves a critical role in promoting fairness and efficiency of the municipal market. The MSRB ensures that the market operates transparently and efficiently by re-disseminating this information to municipal market participants and others, to regulators charged with examining for compliance with and enforcing MSRB rules, and to other regulatory and policymaking bodies. Under its rulemaking authority, the MSRB maintains "information facilities" that provide the legal foundation for the collection and dissemination of municipal market information. These facilities support the MSRB's authority to collect municipal transaction prices (with respect to customer and inter-dealer transactions in municipal securities); official statements, preliminary official statements and advance refunding documents (in connection with new issues of municipal securities); continuing disclosure documents (in connection with outstanding issues of municipal securities); interest rate information and related documentation for certain short-term obligations (in connection with outstanding variable rate demand obligations and auction rate securities); information regarding 529 savings plans and ABLE programs (in connection with dealer underwriting of municipal fund securities); and information regarding business undertaken by, and certain political contributions made by, dealers and municipal advisors or their professionals and certain related political action committees (in connection with the MSRB's pay-to-play rule). The MSRB provides most of this information to the public, free of charge, on its Electronic Municipal Market Access (EMMA) website at emma.msrb.org. In addition, access to most information collected by the MSRB is available in bulk or by automatic feed to subscribers through paid subscription services. As of the end of FY 2018, the MSRB offered five principal data products with approximately 152 active subscription agreements. During FY 2018, the MSRB made enhancements to the EMMA website to better serve the information needs of today's - and tomorrow's - municipal securities investors and other market participants. Enhancements included: - improved homepage navigation with direct access to an interactive map to search for information about a municipal bond and its issuer by state; - quick links to information for new EMMA users about interactive tools for evaluating municipal market trends and MyEMMA, which allows investors to create custom alerts to track trading activity and the posting of new disclosure documents for specific bonds; - enhanced display of information about a specific security, including interactive graphs of trade prices and yields and a searchable listing of important disclosure documents. In 2018 the MSRB also deployed a major re-engineering of the underlying technology of its Real-Time Transaction Reporting System (RTRS) to improve data quality and enhance the MSRB's ability to prevent and respond to significant service disruptions in municipal market transparency. Additionally, during FY 2018, the MSRB conducted organizational and industry-wide business continuity testing in compliance with the SEC's Regulation Systems Compliance and Integrity. The MSRB also published the following market data and analysis reports: - MSRB Fact Book 2017, a comprehensive reference for historical trade statistics; - Municipal Bond ETFs: Liquidity Impact on the Municipal Bond Market; - Dealer Participation and Concentration in Municipal Securities; - Transaction Costs for Customer Trades in the Municipal Bond Market: What is Driving the Decline? FORM 990, PART III, LINE 4C, PROGRAM SERVICE ACCOMPLISHMENTS Engaging in education, outreach and market leadership: The MSRB engages with municipal market participants, regulators, policymakers and others to build understanding of the municipal market and to promote practices, policies and problem-solving that protect investors, municipal entities, obligated persons and the public interest. The MSRB also engages in education and outreach activities that support the understanding of the municipal market and help further protect investors, municipal entities, obligated persons and the public interest. During FY 2018, highlights in this area include: - Increased availability of quality municipal securities market education by adding eight courses to MuniEdPro, a suite of interactive, online courses about MSRB rules and municipal market transactions; - Supported understanding of MSRB regulations by publishing supporting educational content and offering 11 webinars on MSRB rules and market practices for more than 3,700 participants; - Produced educational materials for investors and issuers on topics including, getting a fair price for a municipal bond, understanding a transaction confirmation, understanding mark-up/mark-down on a bond, and how bonds are quoted and priced; - Participated in 100 industry events to an audience of approximately 13,000 market participants and others on topics such as continuing disclosure compliance and what to expect from municipal finance professionals; - Hosted the semi-annual MSRB Industry Roundtables, as well as an academic forum, consistent with the MSRB's role as a facilitator of discussions about important, market-wide issues; - Conducted mark-up disclosure implementation forum to support municipal securities dealer compliance with amendments to MSRB Rules G-15 and G-30; - Coordinated with the SEC, FINRA and bank regulators to deliver examiner training to 500 attendees at various training events; - Partnered with disability organizations to raise awareness of ABLE program regulations, including hosting a financial literacy forum with the National Disabilities Institute; - Partnered with the Municipal Forum of New York to host Municipal Finance Day in Washington, DC for high school graduates participating in the Urban Leadership Fellows Program; - Submitted letter to the SEC Office of the Investor Advocate in response to a request for the MSRB's perspective on products and practices within the municipal securities market that may have an adverse impact on retail investors; - Published a public resource, Self-Regulation in the Municipal Securities Market, that summarizes the history of self-regulation in the U.S. capital markets and details the advantages of the MSRB's distinctive SRO model; - Published issue brief, Municipal Securities: Financing the Nation's Infrastructure, and op-ed about the role of municipal securities in infrastructure finance; - Published request for information on the accessibility, methodology and utility of indices, yield curves and other benchmarks; - Published issue brief on minimum denominations of municipal securities, including historical policy issues and additional considerations related to the use of minimum denominations in the sale of municipal securities; - Published issue brief on senior investor protection that includes information on MSRB and FINRA rules, and market-wide resources available to senior investors and their financial professionals. |
| FORM 990, PART VI, SEC. A, LINE 2 - FAMILY & BUS. RELATIONSHIP | No officer, director, trustee, or key employee has a family relationship or business relationship (as such terms are defined for purposes of Form 990) with any other officer, director, trustee, or key employee. As contemplated by the Congressionally mandated structure of the MSRB's Board of Directors (which serves as the organization's governing body), and with the MSRB being a self-regulatory organization under the federal securities laws, the employers of some members of the Board of Directors, and such members in their capacities as employees of their employers, from time to time transact business with one another in the ordinary course of their business as participants in the municipal market on the same terms as are generally offered to others in the same line of business. FORM 990, PART VI, SEC. A, LINE 4 - CHANGES OF GOVERNANCE DOCUMENT Changes were made to Articles 3, 4 and 5 of the Bylaws to reflect corresponding rule changes made to Rules A-3, A-4 and A-5 to continue to help ensure that they reflect MSRB practices and improve consistency among the rules (and the Articles). Certain provisions in Rules A-4, A-5 and A-17 were amended to refer to the MSRB's most senior executive as "Chief Executive Officer" instead of "Executive Director." |
| FORM 990, PART VI, SEC. A, LINE 7B - GOVERNING BODY/MANAGEMENT | All proposed rule changes adopted by the Board of Directors of the MSRB are subject to the filing and approval or review requirements by the Securities and Exchange Commission under Section 19(b) of the Securities Exchange Act of 1934. FORM 990, PART VI, SEC. B, LINE 11B - FORM 990 REVIEW PROCESS The Board of Directors of the MSRB has an Audit and Risk Committee that is charged with reviewing with management the organization's completed form annually prior to the filing of such form and reporting any findings or conclusions to the Board of Directors in connection with the Board's review of such form. The Audit and Risk Committee conducted its review on 01/30/2019 and the Board of Directors conducted its review on 01/30/2019. |
| FORM 990, PART VI, SEC. B, LINE 12C - CONFLICT OF INTEREST POLICY | The MSRB maintains for its Board of Directors and its staff: a code of ethics and business conduct policy; a conflicts of interest policy; and a whistleblower policy with complaint handling procedures, which are available on msrb.org. All Board members and staff are trained annually on these policies and must sign various acknowledgments. The MSRB has a policy requiring that officers, directors and key employees disclose annually interests that could give rise to conflicts, and subsequently disclose updates. In connection with the election of new members of the Board of Directors, each candidate provides information to the MSRB concerning potential conflicts of interest. In addition, certain organizational conflicts are effectively prohibited under Section 15B(b) of the Securities Exchange Act of 1934 due to the statutory requirements regarding qualification for membership on the Board of Directors. In particular, public representatives must be independent of any municipal securities broker, municipal securities dealer or municipal advisor. MSRB Rule A-3 defines "independent" as having no material business relationship with any municipal securities broker, municipal securities dealer or municipal advisor, including at a minimum not currently or at any time within the last two years being associated with a municipal securities broker, municipal securities dealer or municipal advisor and not having a relationship with any municipal securities broker, municipal securities dealer or municipal advisor, whether compensatory or otherwise, that reasonably could affect the independent judgment or decision making of the individual. The MSRB's General Counsel reviews the conflicts of interest acknowledgement and disclosure forms and determines what actions, if any, need to be taken, including asking a Board member to recuse him or herself from deliberations or voting on an action. |
| FORM 990, PART VI, SEC. B, LINE 15A - COMPENSATION REVIEW PROCESS | Under the MSRB written compensation strategy and program, the Finance Committee (comprised of members of the Board of Directors) is responsible for making recommendations and the Board of Directors is responsible for approving the organization-wide compensation strategy. The annual salary budget is approved by the Board of Directors. At least once every four years, the compensation strategy and structure are reviewed and approved by the Finance Committee based on information received from an external salary consultant. Such review was completed in July 2016. The external salary consultant compares the MSRB with comparable peer organizations in the local geographic market and within the industry as appropriate. The full Board approves the compensation of the Chief Executive Officer, and the Chief Executive Officer establishes the compensation of the key employees within the parameters and philosophy of the approved compensation strategy. Additionally, the Chief Executive Officer annually provides to the Board the salary, benefits, and total compensation of the senior management. |
| FORM 990, PART VI, SECTION C, LINE 19 - GOVERNING DOCUMENTS | The organization's website (www.msrb.org) contains the following: Securities Exchange Act of 1934 Section 15B (statute creating the MSRB), Restated Articles of Incorporation, By-Laws, Governance-Related Administrative Rules, Board Committee Charters, Code of Ethics and Business Conduct, Conflicts of Interest Policy, Risk Management Program, Whistleblower Policy, audited financial statements, annual budget summary, most recent IRS Form 990 and certain financial policies. |
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