SECURITIES INVESTOR PROTECTION CORPORATION: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- SECURITIES INVESTOR PROTECTION CORPORATION (EIN 52-0910763)
- Tax period
- 2018-01-01 to 2018-12-31
- Filed
- 2019-06-19
- IRS object ID
- 201911709349300831
- Schema version
- 2018v3.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2019-06-19T12:43:51-05:00 | ReturnTs |
| Tax Period End | 2018-12-31 | 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 | 1000 WILSON BLVD SUITE 1400 | AddressLine1Txt |
| City | ARLINGTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 22209 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 520910763 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Securities Investor Protection Corporation | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % CHARLES E GLOVER VP-FINANC | InCareOfNm |
| Business Name Control | SECU | BusinessNameControlTxt |
| Phone | 2023718300 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1667 K St NW Suite 1000 | AddressLine1Txt |
| City | Washington | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 200061620 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOSEPHINE WANG | PersonNm |
| Person Title | President and CEO | PersonTitleTxt |
| Phone | 2023718300 | PhoneNum |
| Signature | 2019-06-18 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Mary Torretta | PreparerPersonNm |
| PTIN | P00847851 | PTIN |
| Phone | 7038477500 | PhoneNum |
| Preparation | 2019-06-13 | PreparationDt |
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 | 54681420191705000000 | FederalOriginalSubmissionId |
| Federal Original Submission Id | 2019-06-19 | FederalOriginalSubmissionIdDt |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | AA918D8483008E32154F6CC583B06457B9AF9E42 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 93B6A5B2B9E73C0D543A64C04FD842B0CEFC817E | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2019-02-21 02:37:17Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $355,846,775 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.sipc.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1970 | FormationYr |
| Legal Domicile State | DC | LegalDomicileStateCd |
| Activity Or Mission | PROTECTION OF CUSTOMERS OF SIPC MEMBERS PURSUANT TO THE SECURITIES INVESTOR PROTECTION ACT OF 1970. MEMBERS AS OF 12/31/18 IS 3,621. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 5 | VotingMembersIndependentCnt |
| Total Employee | 39 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $335,525,137 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $355,846,775 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $0 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $335,525,137 | PYTotalRevenueAmt |
| CY Total Revenue | $355,846,775 | 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 | $11,397,789 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $12,382,252 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $55,820,251 | PYOtherExpensesAmt |
| CY Other Expenses | $169,984,205 | CYOtherExpensesAmt |
| PY Total Expenses | $67,218,040 | PYTotalExpensesAmt |
| CY Total Expenses | $182,366,457 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $268,307,097 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $173,480,318 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $3,106,021,784 | TotalAssetsBOYAmt |
| Total Assets EOY | $3,296,907,939 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $870,123,241 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $904,021,139 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $2,235,898,543 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $2,392,886,800 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | WHEN A BROKERAGE FIRM IS CLOSED DUE TO BANKRUPTCY OR OTHER FINANCIAL DIFFICULTIES AND CUSTOMER ASSETS ARE MISSING, SIPC STEPS IN AS QUICKLY AS POSSIBLE AND, WITHIN CERTAIN LIMITS, WORKS TO RETURN CUSTOMERS' CASH, STOCK AND OTHER SECURITIES, AND OTHER CUSTOMER PROPERTY. WITHOUT SIPC, INVESTORS AT FINANCIALLY TROUBLED BROKERAGE FIRMS MIGHT LOSE THEIR SECURITIES OR MONEY FOREVER OR WAIT YEARS WHILE THEIR ASSETS ARE TIED UP IN COURT. MISSION IS STATUTORY. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | SIPC INITIATED NO NEW CUSTOMER PROTECTION PROCEEDING IN 2018. TOTAL PROCEEDINGS COMMENCED UNDER SIPC TO DATE ARE 330. IN 2018, 1 PROCEEDING WAS COMPLETED AND 2 PROCEEDINGS HAD SATISFIED CUSTOMER CLAIMS WITH LITIGATION MATTERS PENDING. CASH AND SECURITIES DISTRIBUTED FOR ACCOUNTS OF CUSTOMERS DURING 2018 TOTALED APPROXIMATELY $1.1 BILLION. APPROXIMATELY 13 ADDITIONAL CUSTOMERS RECEIVED DISTRIBUTIONS. | Desc |
| Total Program Service Expenses | $182,366,457 | TotalProgramServiceExpensesAmt |
| 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 | false | 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 | 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 | 19 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 39 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 5 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | 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 | Yes (true) | 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 | CHARLES E GLOVER VP-FINANC | PersonNm |
| Phone | 2023718300 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1667 K ST NW STE 1000 | AddressLine1Txt |
| City | Washington | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 200061620 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (16 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| Daniel M Covitz | ||||||||
| Director | 3.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| Anthony D'Agostino | ||||||||
| Director | 2.0 | 0.0 | Yes (X) | $6,250 | $0 | $0 | ||
| W Moses Kim | ||||||||
| Director (from 8/27/18) | 3.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| William S Jasien | ||||||||
| Director | 3.0 | 0.0 | Yes (X) | $6,250 | $0 | $0 | ||
| Gregory S Karawan | ||||||||
| Director | 3.0 | 0.0 | Yes (X) | $6,250 | $0 | $0 | ||
| Jared C Sawyer | ||||||||
| Director (through 6/29/18) | 2.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| Stephen P Harbeck | ||||||||
| President & CEO | 40.0 | 0.0 | $934,782 | $0 | -$326,720 | Yes (X) | ||
| Josephine Wang | ||||||||
| General Counsel & Secretary | 40.0 | 0.0 | $984,825 | $0 | -$117,834 | Yes (X) | ||
| Joseph S Furr Jr | ||||||||
| VP - Finance (through 1/31/18) | 40.0 | 0.0 | $103,102 | $0 | $9,516 | Yes (X) | ||
| Karen L Saperstein | ||||||||
| Vice President - Operations | 40.0 | 0.0 | $390,081 | $0 | $94,195 | Yes (X) | ||
| Charles E Glover | ||||||||
| AVP-Fin., VP-Fin.(from 2/1/18) | 40.0 | 0.0 | $328,941 | $0 | -$80,843 | Yes (X) | ||
| Kevin H Bell | ||||||||
| SR ASSOC GEN COUN FOR DISP RES | 40.0 | 0.0 | $337,154 | $0 | -$299,869 | Yes (X) | ||
| Kenneth J Caputo | ||||||||
| SR Associate General Counsel | 40.0 | 0.0 | $420,351 | $0 | -$267,974 | Yes (X) | ||
| Christopher H LaRosa | ||||||||
| Sr Assoc. Gen. Coun Litigation | 40.0 | 0.0 | $318,248 | $0 | $23,482 | Yes (X) | ||
| Abraham L Wons | ||||||||
| Director - Risk Management | 40.0 | 0.0 | $289,028 | $0 | $133,389 | Yes (X) | ||
| Hemant Sharma | ||||||||
| Sr Assoc Gen Counsel-Int'l | 40.0 | 0.0 | $280,444 | $0 | $5,300 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $4,405,706 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | -$827,358 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 27 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| McGinn and Company | |||||
| 2111 Wilson Boulevard Suite 200 | ARLINGTON | VA | 22201 | Investor Education | $215,000 |
| Buck Global LLC | |||||
| 420 Lexington Avenue Suite 2220 | NEW YORK | NY | 10170 | Actuarial Services | $177,340 |
| Korn Ferry International | |||||
| 200 Park Avenue 37th Floor | NEW YORK | NY | 10166 | Staff Recruitment | $150,000 |
| Grant Thornton | |||||
| 1000 Wilson Boulevard Suite 1400 | ARLINGTON | VA | 222093927 | Accounting Fees | $132,750 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| MEMBER ASSESSMENTS | 900099 | $291,940,037 | $291,940,037 |
| INTEREST ON U.S. GOV'T SECURITIES | 900099 | $63,906,738 | $63,906,738 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $355,846,775 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
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 |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $355,846,775 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $355,846,775 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
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 | $3,207,097 | 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 | $5,940,706 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,111,558 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,716,914 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $405,977 | 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 | $154,430 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $185,898 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,730 | 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 | $357,450 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $163,053 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $657,729 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,247,440 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,021,065 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $124,915 | 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 | $35,771 | 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 | $672,878 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,193 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| CUSTOMER PROTECTION | $165,002,562 |
| PERSONAL PROPERTY TAX | $39,367 |
| DIRECTOR'S EXPENSES | $13,813 |
| TEMPORARY SERVICES | $40,311 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $221,600 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $182,366,457 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $849,459 | BOYAmt |
| EOY | $25,865,236 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $155,003,478 | BOYAmt |
| EOY | $148,852,878 | 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 | $1,727,675 | BOYAmt |
| EOY | $1,760,910 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $7,936,844 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $5,709,614 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,641,782 | BOYAmt |
| EOY | $2,227,230 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,945,799,390 | BOYAmt |
| EOY | $3,118,201,685 | 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 | $3,106,021,784 | BOYAmt |
| EOY | $3,296,907,939 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,484,769 | BOYAmt |
| EOY | $17,582,537 | 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 | $5,338,472 | BOYAmt |
| EOY | $2,638,602 | 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 | $847,300,000 | BOYAmt |
| EOY | $883,800,000 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $870,123,241 | BOYAmt |
| EOY | $904,021,139 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow SFAS117 | Yes (X) | OrgDoesNotFollowSFAS117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,235,898,543 | BOYAmt |
| EOY | $2,392,886,800 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,235,898,543 | BOYAmt |
| EOY | $2,392,886,800 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,106,021,784 | BOYAmt |
| EOY | $3,296,907,939 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $173,480,318 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$18,197,141 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $1,705,080 | 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 | false | AgreeCarryoverPriorYearInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE C, PART III-A | FormAndLineReferenceDesc |
| Explanation | The Securities Investor Protection Corporation ("SIPC") is a non-profit membership organization created under the Securities Investor Protection Act, 15 U.S.C. 78aaa et seq. ("SIPA"). SIPA provides that "SIPC, its property, its franchise, capital, reserves, surplus, and its income, shall be exempt from all taxation now or hereafter imposed by the United States or by any State or local taxing authority, except that any real property and any tangible personal property (other than cash and securities) of SIPC shall be subject to State and local taxation to the same extent according to its value as other real and tangible personal property is taxed." During its 2018 tax year, SIPC made lobbying expenditures to outside firms in the amount of $7,730. | ExplanationTxt |
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 | $1,455,533 | OtherCostOrOtherBasisAmt |
| Depreciation | $644,770 | DepreciationAmt |
| Book Value | $810,763 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,269,076 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,523,232 | DepreciationAmt |
| Book Value | $745,844 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,212,235 | OtherCostOrOtherBasisAmt |
| Depreciation | $541,612 | DepreciationAmt |
| Book Value | $670,623 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $2,227,230 | TotalBookValueLandBuildingsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | EST COST TO COMPL CUST PROTEC PROCEE | Desc |
| Amt | $883,800,000 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $883,800,000 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $337,649,634 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$18,197,141 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | -$18,197,141 | RevenueNotReportedAmt |
| Revenue Subtotal | $355,846,775 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $355,846,775 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $180,661,377 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$1,705,080 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$1,705,080 | ExpensesNotReportedAmt |
| Expenses Subtotal | $182,366,457 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $182,366,457 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | OTHER ADJUSTMENTS TO REVENUE | FormAndLineReferenceDesc |
| Explanation | SCHEDULE D, PART XII, LINE 2D PENSION AND POST-RETIREMENT BENEFIT CHANGES OTHER THAN NET PERIODIC PENSION COSTS $(1,705,080) | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Written Policy Ref T And E Expnss | false | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stephen P Harbeck | ||||||||||||||
| President & CEO | $564,478 | $0 | $364,123 | $0 | $6,181 | $0 | -$364,100 | $0 | $37,380 | $0 | $608,062 | $0 | $0 | $0 |
| Josephine Wang | ||||||||||||||
| General Counsel & Secretary | $458,642 | $0 | $522,373 | $0 | $3,810 | $0 | -$133,417 | $0 | $15,583 | $0 | $866,991 | $0 | $0 | $0 |
| Karen L Saperstein | ||||||||||||||
| Vice President - Operations | $310,170 | $0 | $76,101 | $0 | $3,810 | $0 | $58,815 | $0 | $35,380 | $0 | $484,276 | $0 | $0 | $0 |
| Charles E Glover | ||||||||||||||
| AVP-Fin., VP-Fin.(from 2/1/18) | $278,651 | $0 | $49,000 | $0 | $1,290 | $0 | -$96,954 | $0 | $16,111 | $0 | $248,098 | $0 | $0 | $0 |
| Kenneth J Caputo | ||||||||||||||
| SR Associate General Counsel | $315,368 | $0 | $103,693 | $0 | $1,290 | $0 | -$297,933 | $0 | $29,959 | $0 | $152,377 | $0 | $0 | $0 |
| Christopher H LaRosa | ||||||||||||||
| Sr Assoc. Gen. Coun Litigation | $275,330 | $0 | $42,228 | $0 | $690 | $0 | $3,628 | $0 | $19,854 | $0 | $341,730 | $0 | $0 | $0 |
| Abraham L Wons | ||||||||||||||
| Director - Risk Management | $259,048 | $0 | $28,000 | $0 | $1,980 | $0 | $87,853 | $0 | $45,536 | $0 | $422,417 | $0 | $0 | $0 |
| Hemant Sharma | ||||||||||||||
| Sr Assoc Gen Counsel-Int'l | $253,364 | $0 | $26,780 | $0 | $300 | $0 | -$15,684 | $0 | $20,984 | $0 | $285,744 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FIRST-CLASS TRAVEL | SCHEDULE J, PART I, LINE 1A First class train fare was allowed pursuant to policy and paid for Mr. Harbeck, Ms. Saperstein, Mr. Bell and Mr. Sharma when it was less than or equivalent to the cost of coach airfare and related ground transportation. First class airfare was allowed for Mr. Harbeck on an international flight. Companion expenses for meals were paid for Mr. D'Agostino ($203.51), Mr. Jasien ($339.51), Mr. Karawan ($339.51) and Ms. Saperstein ($357.61). These de minimis amounts were not reported on 1099-Misc for the individuals. |
| Retirement and Other Deferred Compensation | Schedule J, Part II, Column C The DECREASE IN ACTUARIAL VALUE OF A DEFINED BENEFIT RETIREMENT AND A DEFINED BENEFIT POST RETIREMENT HEALTH PLAN is INCLUDED IN SCHEDULE J, PART II, COLUMN (C) AS PART OF DEFERRED COMPENSATION. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Signing Officer | Form 990, Part II, Signature Block Josephine Wang became the President and CEO of SIPC effective April 1, 2019. MEMBERS AND STOCKHOLDERS FORM 990, PART VI, SECTION A, LINE 6 SIPC IS A MEMBERSHIP CORPORATION. MEMBERSHIP IS BY OPERATION OF LAW. |
| STOCKHOLDERS OR PERSONS OTHER THAN GOVERNING BODIES | FORM 990, PART VI, SECTION A, LINE 7B NO DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY MEMBERS. HOWEVER, PROPOSED RULE CHANGES AND BYLAW CHANGES ARE SUBJECT TO REVIEW BY THE U.S. SECURITIES AND EXCHANGE COMMISSION. |
| NAME AND ADDRESS OF OFFICERS WHO CANNOT BE REACHED IN THE | ORGANIZATION'S MAILING ADDRESS FORM 990, PART VI, SECTION A, LINE 9 -Daniel M. Covitz, Deputy Dir., Fed Res. Bd., Div of Research & Statistics, Bd. of Gov. of the Fed Res. System, 20th & Constitution Avenue, N.W., Washington, DC 20551 -Anthony D'Agostino, Maven Medical, 2321 Cavesdale Road, Owings Mills, MD 21117 -W. Moses Kim, Director, Office of Fin'l Inst. Policy, U.S. Dept. of the Treasury, 1500 Pennsylvania Ave., N.W., Washington, DC 20220 -William S. Jasien, Stonehedge Global Partners, 7421 Dunquin Court, Clifton, VA 20124 -Gregory S. Karawan, Genworth Financial, 6620 W. Broad St., Building 2 - 8th floor, Richmond, VA 23230 -Jared C. Sawyer, Deputy Asst. Sec'y for Fin'l Inst. Policy, U.S. Dept. of the Treasury, 15th & Pennsylvania Ave., N.W., Washington, DC 20220 |
| FORM 990 REVIEW PROCESS | FORM 990, PART VI, SECTION B, LINE 11B The Form 990 was prepared by Grant Thornton, an independent accounting firm, with support from the SIPC accounting staff, directed by the Vice President-Finance, using the books and records of the corporation after the completion of an audit by independent Certified Public Accountants. The filing was reviewed by the President & CEO of SIPC. Prior to the filing, copies of the completed Form 990, including required schedules, as it was filed with the IRS, were provided for review to the Audit and Budget Committee of the SIPC Board of Directors at its June 2019 meeting. The Form 990 was also provided to the SIPC Board of Directors for its review at its June 2019 meeting with recommendations by the Audit and Budget Committee. |
| CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT | FORM 990, PART VI, SECTION B, LINES 12B AND 12C SIPC has written Business Ethics and Whistleblower Policies which include provisions regarding conflicts of interests. They are incorporated into the written Personnel Guide. Upon employment and annually thereafter each employee, including officers, must sign a document stating that they have read and understand those provisions. During the annual audit, the independent Certified Public Accountants inquire of the staff on a test basis as to their understanding of the policies and report their findings to the Audit and Budget Committee of the SIPC Board of Directors. Upon appointment and at least annually thereafter, each non-government Director shall certify in writing that he or she has read and understood and will adhere to the Code of Ethics for Directors: that he or she has no known conflicts of interest. The Government Directors must adhere to their government standards and codes of ethics. Each director also must immediately disclose any conflict as it arises and recuse themselves from any decision so affected. Any such event is documented in the meeting minutes. |
| PROCESS FOR DETERMINING COMPENSATION | FORM 990, PART VI, SECTION B, LINES 15A AND 15B Compensation for all SIPC officers is set by the SIPC Board of Directors annually in conformity with compensation guidelines adopted by the Board and based on the recommendations of the Compensation Committee of the SIPC Board of Directors. They review Form 990 data for other organizations, salary studies, U.S. Government pay scales, securities industry data, and inflation statistics from the U.S. Department of Labor, Bureau of Labor Statistics, as well as performance and work loads. Generally, an independent compensation study is commissioned every three years. The last study was done in 2016. |
| HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC | FORM 990, PART VI, SECTION C, LINE 19 SIPC WAS CREATED BY THE SECURITIES INVESTOR PROTECTION ACT (15 U.S.C. 78AAA. ET SEQ.). THIS STATUTE, SIPC RULES AND THE SIPC BYLAWS, WHICH INCLUDES "CONDUCT OF EMPLOYEES OF THE SECURITIES INVESTOR PROTECTION CORPORATION" IN SECTION 5, ARE POSTED ON THE SIPC WEBSITE: WWW.SIPC.ORG. THE CURRENT, AS WELL AS THE ENTIRE PRIOR 47 YEAR HISTORY OF, SIPC ANNUAL REPORTS, INCLUDING THE AUDITED FINANCIAL STATEMENTS, ARE ALSO POSTED ON THE WEBSITE. COPIES WILL BE MAILED UPON REQUEST. |
| OTHER CHANGES IN NET ASSETS AND FUND BALANCES | FORM 990, PART XI, LINE 9 PENSION AND POST-RETIREMENT BENEFIT RELATED CHANGES OTHER THAN NET PERIODIC PENSION COSTS $1,705,080 |
Comments