2019-11-15T12:44:35-06:00 2018-12-31 ERNST & YOUNG US LLP 221 E 4TH STREET SUITE 2900 CINCINNATI OH 45202 990 2018-01-01 200863779 FINRA INVESTOR EDUCATION FOUNDATION % JENNIFER P MITCHELL FINR 2027288949 1735 K STREET NW WASHINGTON DC 200061506 ROBERT A RENNER VICE PRESIDENT 2403865303 2019-11-14 true JULIE L SPARKS P01268401 5136121400 190.247.210.75 86597020193195000023 2019-11-15 P 34163F381DEDE5EE0CABDD6E8F3BD042227F3C04 5BBAE5511E2DD1F7FEB97130453AA58C07BF2DC6 2018 2020-03-31 21:24:44Z GERALDINE M WALSH 1735 K STREET NW WASHINGTON DC 200061506 5300865 false X WWW.FINRAFOUNDATION.ORG X 2004 DE THE MISSION IS TO EMPOWER UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS TO MAKE SOUND FINANCIAL DECISIONS THROUGHOUT LIFE. 8 7 0 7 0 0 81673 1134746 0 0 9301819 1020006 0 0 9383492 2154752 403994 319178 0 0 0 0 0 0 0 2882421 3661889 3286415 3981067 6097077 -1826315 80001624 75542347 219561 318500 79782063 75223847 X THE MISSION IS TO EMPOWER UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS TO MAKE SOUND FINANCIAL DECISIONS THROUGHOUT LIFE. false false 1429244 PROTECT CONSUMERS FROM FINANCIAL FRAUD - SEE SCHEDULE O 957537 174574 FOSTER SUSTAINABLE FINANCIAL EDUCATION - SEE SCHEDULE O 679389 ADVANCE MILITARY FINANCIAL READINESS - SEE SCHEDULE O 575005 132249 3641175 false true false false false false false false true false true false false true true true true false false true false false false false false false true true true false false false false false false false false false false false false false true false false true 13 0 true 0 false false false false false false false false X 8 7 false false false false true true true true true false false true true true true true true false false false X JENNIFER P MITCHELL 2027288949 1735 K STREET NW WASHINGTON DC 200061506 X ROBERT W COOK CHAIRMAN 1.0 59.0 X 0 2358157 522215 JAYNE W BARNARD BOARD MEMBER 1.0 0.0 X 0 0 0 MARI J BUECHNER BOARD MEMBER - AS OF 2/13/18 1.0 0.0 X 0 0 0 CAMILLE M BUSETTE BOARD MEMBER 1.0 0.0 X 0 0 0 T GRANT CALLERY BOARD MEMBER 1.0 0.0 X 0 0 0 LAURA FISHER BOARD MEMBER - AS OF 2/13/18 1.0 0.0 X 0 0 0 JOHN W THIEL BOARD MEMBER - AS OF 2/13/18 1.0 2.0 X 0 20000 0 ELISSE B WALTER BOARD MEMBER 3.0 5.0 X 0 91530 0 GERALDINE M WALSH PRESIDENT 48.0 12.0 X 0 521247 103321 EILEEN M FAMIGLIETTI TREASURER 6.0 54.0 X 0 390808 76820 JENNIFER P MITCHELL CORPORATE SECRETARY 3.0 57.0 X 0 329399 81213 MARCIA E ASQUITH FMR CORPORATE SECRETARY 0.0 0.0 X 0 750633 149415 0 4461774 932984 0 true true false AMERICAN LIBRARY ASSOCIATION 50 EAST HURON STREET CHICAGO IL 60611 SEE SCHEDULE O 500000 ASSOCIATION FOR FINANCIAL COUNSELIN 79 S STATE STREET WESTERVILLE OH 43081 SEE SCHEDULE O 275000 APPLIED RESEARCH CONSULTING 321 WEST 13TH STREET NEW YORK NY 10014 SEE SCHEDULE O 215000 AARP FOUNDATION 601 EAST STREET NW WASHINGTON DC 20049 SEE SCHEDULE O 215000 NATIONAL CENTER FOR VICTIMS OF CRIM 2000 M STREET NW WASHINGTON DC 20036 SEE SCHEDULE O 145000 12 772946 361800 1134746 0 903609 903609 0 0 0 0 0 3262510 3146113 116397 116397 116397 0 0 0 0 0 0 0 0 0 0 2154752 1020006 306823 306823 12355 12355 0 0 0 0 0 0 0 0 137 137 0 50865 50865 0 0 127128 127128 2499117 2498455 662 59304 59304 410426 350781 59645 62005 62005 0 110083 40720 69363 91027 69775 21252 0 158698 150118 8580 0 0 0 0 DUES/MEMBERSHIP FEE 51555 50355 1200 PUBLICATIONS/PRINTING 40984 40484 500 TAXES 560 560 3981067 3641175 339892 0 731651 689299 0 0 0 0 1430 611870 0 0 0 0 0 0 0 0 57701 63643 0 0 51514288 46417125 27696554 27760410 0 0 0 0 0 0 80001624 75542347 189897 315958 0 0 0 0 0 0 0 0 0 0 0 0 0 0 29664 2542 219561 318500 X 79686435 75131685 95628 92162 0 0 79782063 75223847 80001624 75542347 X -1826315 -2781353 2971223 127128 -3048899 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 95628 1533 5000 92161 100000 628 5000 95628 100000 100000 1.00000 false false POOLED INVESTMENT FUND 27760410 F 27760410 0 DUE TO RELATED ORGANIZATION 2542 2542 X 2217494 -2781353 2971223 189870 2027624 127128 127128 2154752 6775712 2971223 -49450 2921773 3853939 127128 127128 3981067 SCHEDULE D, PART X, LINE 2 ASC740 FOOTNOTE THE FINRA INVESTOR EDUCATION FOUNDATION (THE FOUNDATION) IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(4)OF THE INTERNAL REVENUE CODE. FOR YEARS ENDED DECEMBER 31, 2015 THROUGH DECEMBER 31, 2018, WHICH REPRESENT THE PERIODS MANAGEMENT CONSIDERS TO BE OPEN FOR EXAMINATION BY TAXING AUTHORITIES, MANAGEMENT DID NOT IDENTIFY THE EXISTENCE OF ANY UNCERTAIN TAX POSITIONS. UNRELATED BUSINESS INCOME UNRELATED BUSINESS INCOME ACTIVITIES ARE TAXED AT NORMAL CORPORATE RATES TO THE EXTENT THAT THEY GENERATE TAXABLE NET INCOME. SUCH UNRELATED BUSINESS INCOME MAY BE GENERATED BY CERTAIN ACTIVITIES WITHIN THE FOUNDATION'S LIMITED PARTNERSHIP INVESTMENT. AS OF DECEMBER 31, 2017, THE FOUNDATION FULLY REDEEMED ITS INTEREST IN THE LIMITED PARTNERSHIP. SCHEDULE D, PART XII, LINE 2D AMOUNTS INCLUDED ON LINE 1 BUT NOT ON FORM 990, PART IX, LINE 25 RELATE TO REFUNDS OF PRIOR YEAR'S UNUSED GRANTS. SCHEDULE D, PART V, LINE 4 IN 2016, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. (FINRA) CONTRIBUTED A ONE-TIME DONOR-RESTRICTED CONTRIBUTION OF $0.1 MILLION TO THE FOUNDATION. THE DONOR-RESTRICTED CONTRIBUTION FUNDED THE KETCHUM PRIZE FUND, NAMED FOR FORMER FINRA CHAIRMAN AND CHIEF EXECUTIVE OFFICER AND FOUNDATION CHAIRMAN RICHARD G. KETCHUM, TO AWARD AN ANNUAL PRIZE IN HONOR OF EXEMPLARY CONTRIBUTIONS TO THE FIELD OF INVESTOR PROTECTION AND FINANCIAL CAPABILITY IN THE UNITED STATES. Central America and the Caribbean 0 0 Investments 27760410 0 0 0 0 27760410 27760410 false false true true true false true CATHOLIC CHARITIES OF IDAHO PO BOX 190123 BOISE ID 83719 820524367 501(C)(3) 20000 SCHEDULE I, PART IV CATHOLIC CHARITIES OF OREGON 2740 SE POWELL BLVD PORTLAND OR 97202 930386801 501(C)(3) 20000 SCHEDULE I, PART IV FRIENDS OF LIBRARIES IN OKLAHOMA PO BOX 702585 TULSA OK 74170 731053431 501(C)(3) 45770 SCHEDULE I, PART IV IOWA STATE UNIVERSITY 505 MORRILL ROAD AMES IA 50011 426004224 501(C)(3) 59739 SCHEDULE I, PART IV NATIONAL DISABILITY INSTITUTE 1667 K STREET NW WASHINGTON DC 20006 204205838 501(C)(3) 50000 SCHEDULE I, PART IV NEW YORK UNIVERSITY 105 EAST 17TH ST NEW YORK NY 10003 135562308 501(C)(3) 30349 SCHEDULE I, PART IV URBAN INSTITUTE 500 LENFANT PLAZA SW WASHINGTON DC 20024 520880375 501(C)(3) 51900 SCHEDULE I, PART IV 7 0 2018 KETCHUM PRIZE FOR INVESTOR PROTECTION 1 10000 230 COST GIFT FORM 990, SCHEDULE I, PART II, COLUMN (H) GRANTS AND OTHER ASSISTANCE - PURPOSE OF GRANT OR ASSISTANCE CATHOLIC CHARITIES OF IDAHO - (82-0524367) CATHOLIC CHARITIES OF IDAHO IS COLLABORATING WITH EMPLOYERS TO LAUNCH A SUSTAINABLE PROGRAM TO PROVIDE WORKPLACE FINANCIAL WELLNESS SERVICES TARGETING LOW- TO MODERATE-INCOME EMPLOYEES. CATHOLIC CHARITIES OF OREGON - (93-0386801) CATHOLIC CHARITIES OF Oregon IS COLLABORATING WITH EMPLOYERS TO LAUNCH A SUSTAINABLE PROGRAM TO PROVIDE WORKPLACE FINANCIAL WELLNESS SERVICES TARGETING LOW- TO MODERATE-INCOME EMPLOYEES. FRIENDS OF LIBRARIES IN OKLAHOMA - (73-1053431) SMART INVESTING@YOUR LIBRARY: FRIENDS OF LIBRARIES IN OKLAHOMA (FOLIO) IS EXPANDING A SUCCESSFUL FINANCIAL EDUCATION MODE TO LIBRARIES ACROSS THE STATE, GIVING PRIMARY ATTENTION TO MEETING THE NEEDS OF MILITARY PERSONNEL AND THEIR FAMILIES, SENIOR CITIZENS, YOUNG ADULTS, AND LOW-INCOME HOUSEHOLDS. THIS FINANCIAL FITNESS SERIES, DELIVERED IN COLLABORATION WITH LOCAL AND STATE PARTNERS, PROMPTS PARTICIPANTS TO MAKE CONCRETE CHANGES TO THEIR PERSONAL FINANCE PRACTICES AND HELPS THEM GAIN CONTROL OF THEIR FINANCIAL FUNDAMENTALS WHILE POSITIONING THEM TO BEGIN INVESTING FOR LONGER-TERM GOALS. IOWA STATE UNIVERSITY - (42-6004224) SMART INVESTING@YOUR LIBRARY: IOWA STATE UNIVERSITY EXTENSION IS WORKING IN PARTNERSHIP WITH THE STATE LIBRARY OF IOWA TO BUILD THE FINANCIAL CAPABILITY OF IOWA'S LIBRARIANS AND OTHER PUBLIC EMPLOYEES. THE PROJECT COMBINES ELEMENTS OF WORKPLACE FINANCIAL EDUCATION, PROFESSIONAL DEVELOPMENT, CAPACITY BUILDING, AND INCENTIVIZED GAME-BASED LEARNING. IT TARGETS PUBLIC EMPLOYEES (INCLUDING PUBLIC LIBRARIANS, SCHOOL LIBRARIANS, TEACHERS, AND OTHER MUNICIPAL AND COUNTY EMPLOYEES) FOR THEIR OWN BENEFIT AND BECAUSE THEY ARE WELL-POSITIONED TO HELP OTHERS IMPROVE THEIR FINANCIAL SKILLS AND KNOWLEDGE. THE LEARNING ADDRESSES FINANCIAL PLANNING, CREDIT, INSURANCE, SAVING, INVESTING, RETIREMENT, AND ESTATE PLANNING. THE PROJECT BLENDS FACE-TO-FACE AND ONLINE LEARNING, WHILE LEVERAGING THE REACH OF COOPERATIVE EXTENSION EDUCATORS INTO ALL PARTS OF THE STATE. NATIONAL DISABILITY INSTITUTE - (20-4205838) FINANCIAL CAPABILITY OF ADULTS WITH DISABILITIES: USING DATA FROM THE FINRA FOUNDATION'S NATIONAL FINANCIAL CAPABILITY STUDY, INCLUDING SIX QUESTIONS DEVELOPED BY THE BUREAU OF LABOR STATISTICS, THE NATIONAL DISABILITY INSTITUTE (NDI) EXAMINED THE IMPACT OF DISABILITY ON FINANCIAL CAPACITY. NDI ALSO STUDIED HOW FINANCIAL CAPABILITY VARIES BY DISABILITY TYPE AND SOCIOECONOMIC AND DEMOGRAPHIC CHARACTERISTICS. THE FINDINGS PROVIDE INFORMATION CRITICAL FOR DEVELOPING AND IMPLEMENTING FINANCIAL EDUCATION PROGRAMS FOR PEOPLE WITH DISABILITIES. NEW YORK UNIVERSITY - (13-5562308) TRANSFORMING DISCLOSURE THROUGH INTERACTION: THE NEW YORK UNIVERSITY, IN PARTNERSHIP WITH THE UNIVERSITY OF SOUTHERN CALIFORNIA'S CENTER FOR ECONOMIC AND SOCIAL RESEARCH, USED ITS EXPERIMENTAL ONLINE SAVING PLATFORM TO STUDY THE EFFECTS OF INTERACTIVE ONLINE DISCLOSURES ON CONSUMERS' INVESTMENT BEHAVIOR, DISCLOSURE UNDERSTANDING, AND PERCEPTION OF MAKING INFORMED DECISIONS. RESEARCHERS EXAMINED HOW INTERACTIVE DISCLOSURES IMPACT CONSUMERS' WILLINGNESS TO INVEST, CHOICE OF FUNDS, UNDERSTANDING OF INVESTMENT PRODUCTS, AND SUBJECTIVE PERCEPTIONS OF MAKING SOUND INVESTMENT DECISIONS. URBAN INSTITUTE - (52-0880375) DELINQUENT DEBT DECISIONS AND THEIR CONSEQUENCES OVER TIME: RESEARCHERS ARE USING A NATIONALLY REPRESENTATIVE CREDIT BUREAU DATABASE, ALONG WITH THE FINRA FOUNDATION'S NATIONAL FINANCIAL CAPABILITY STUDY STATE-BY-STATE DATA, TO INVESTIGATE WHICH BILLS FAMILIES DECIDE TO STOP PAYING FIRST WHEN IN FINANCIAL DISTRESS, AND WHETHER FAMILIES MAKE DELINQUENT-DEBT DECISIONS THAT MINIMIZE FINANCIAL HARM OVER TIME. URBAN INSTITUTE IS ALSO STUDYING HOW THESE DELINQUENT-DEBT DECISIONS RELATE TO FAMILIES' CHARACTERISTICS AND WHETHER CONSUMERS WITH BETTER FINANCIAL KNOWLEDGE ARE MORE LIKELY TO MAKE LESS HARMFUL DEFAULT DECISIONS. TO LEARN MORE ABOUT THE OTHER WAYS THE FOUNDATION IS FULFILLING THEIR MISSION OF EMPOWERING AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS TO MAKE SOUND DECISIONS THROUGHOUT LIFE THROUGH THEIR NETWORK OF PROGRAM SERVICES, PLEASE REFER TO SCHEDULE O. FORM 990, SCHEDULE I, LINE 2 DESCRIPTION OF ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF GRANTS: FOLLOWING APPROVAL OF A GRANT APPLICATION BY THE BOARD OF DIRECTORS, THE FOUNDATION EXECUTES A GRANT AGREEMENT WITH THE APPLICANT. THIS AGREEMENT SPECIFIES THE TERMS AND CONDITIONS OF THE GRANT, AS WELL AS THE REPORTING AND PAYMENT SCHEDULE. NARRATIVE AND FINANCIAL PROGRESS REPORTS AND ALL DELIVERABLES ARE REVIEWED BY THE FOUNDATION TO ENSURE QUALITY AND COMPLIANCE WITH THE GRANT AGREEMENT. IN ADDITION TO PROGRESS REPORTS, GRANTEES ARE REQUIRED TO COMPLETE A FINAL NARRATIVE AND FINANCIAL REPORT DETAILING PROJECT OUTCOMES AND ACCOUNTING FOR THE USE OF FUNDS. false true false false false false false false false ROBERT W COOK CHAIRMAN 0 981342 0 1350000 0 26815 0 520268 0 1947 0 2880372 0 GERALDINE M WALSH PRESIDENT 0 292101 0 191000 0 38146 0 83441 0 19880 0 624568 0 EILEEN M FAMIGLIETTI TREASURER 0 269401 0 119300 0 2107 0 30660 0 46160 0 467628 0 JENNIFER P MITCHELL CORPORATE SECRETARY 0 200996 0 121600 0 6803 0 36500 0 44713 0 410612 0 MARCIA E ASQUITH FMR CORPORATE SECRETARY 0 340953 0 370000 0 39680 0 115437 0 33978 0 900048 0 SCHEDULE J, PART I, LINES 3 AND 4B SUPPLEMENTAL COMPENSATION INFORMATION THE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. ALL SERVICES ARE PROVIDED BY EMPLOYEES OF FINRA OR ITS SUBSIDIARIES. THE FOUNDATION DOES NOT COMPENSATE THESE EMPLOYEES FOR THEIR SERVICES. LINE 3) COMPENSATION FOR THE CEO/EXECUTIVE DIRECTOR IS ESTABLISHED AT AND PAID BY THE PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FOR FURTHER DETAILS REGARDING COMPENSATION OF OFFICERS, PLEASE REFER TO THE 2018 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 OF THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. LINE 4B) FINRA'S SUPPLEMENTAL DEFINED CONTRIBUTION PLAN IS A NON-QUALIFIED PLAN THAT IS OPEN TO VICE PRESIDENTS AND ABOVE WITH AN ANNUAL BASE PAY ABOVE THE QUALIFIED LIMIT. IT IS ONLY OPEN TO THOSE NOT PARTICIPATING IN THE CLOSED NON-QUALIFIED DEFINED BENEFIT PLAN. IT IS A FINRA FUNDED PLAN WITH A THREE YEAR VESTING CYCLE WITH ANNUAL VESTING BEGINNING AT AGE 62. NO PARTICIPANTS IN THE SUPPLEMENTAL NON-QUALIFIED DEFINED CONTRIBUTION PLAN HAD A VESTING EVENT OR RECEIVED A PAYOUT DURING TAX YEAR 2018. DECREASES IN ACTUARIAL VALUE OF CERTAIN EMPLOYEES' BENEFIT PLANS ARE REPORTED BELOW. THESE AMOUNTS ARE EXCLUDED FROM SCHEDULE J, COLUMN C IN ORDER TO AVOID DISTORTION OF TOTAL COMPENSATION. PARTICIPANTS IN THE FOUNDATION'S EMPLOYEE RETIREMENT PLAN WHO HAD A DECREASE IN ACTUARIAL VALUE IN 2018 INCLUDE: MARCIA E. ASQUITH - ($62,142) EILEEN M. FAMIGLIETTI - ($32,258) JENNIFER PIORKO-MITCHELL - ($36,540) GERALDINE M. WALSH - ($47,546) FORM 990, PART I, LINES 4 & 6 SEVEN OF THE EIGHT MEMBERS OF THE BOARD OF DIRECTORS, ACTIVE ON DECEMBER 31, 2018, ARE CONSIDERED INDEPENDENT VOTING MEMBERS AND SERVE ON A VOLUNTEER BASIS. AS DISCLOSED IN LINES (1), (7) AND (8) OF FORM 990, PART VII, SECTION A, LINE 1A, THREE BOARD MEMBERS RECEIVED COMPENSATION FROM FINRA, THE FOUNDATION'S PARENT. ONE BOARD MEMBER RECEIVES COMPENSATION AS AN OFFICER OF FINRA AND IS NEITHER CONSIDERED INDEPENDENT NOR COUNTED AS A VOLUNTEER. THE OTHER TWO BOARD MEMBERS ARE COMPENSATED FOR THEIR WORK AS MEMBERS OF THE BOARD OF FINRA AND ARE CONSIDERED INDEPENDENT AND COUNTED AS VOLUNTEERS. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR APPROVING PROJECTS AND GRANTS. FORM 990, PART III, LINE 4 THE FOUNDATION HELPS AMERICANS BUILD FINANCIAL CAPABILITY, INVEST FOR LIFE GOALS, AND GUARD AGAINST FRAUD. THE FOUNDATION'S RESEARCH, MOREOVER, FURTHERS DIVERSE EFFORTS TO ADDRESS THE NEEDS OF INVESTORS, MILITARY SERVICE MEMBERS, AND LOWER-INCOME WORKING AMERICANS AND THEIR FAMILIES. MUCH OF THIS WORK IS ACCOMPLISHED IN PARTNERSHIP WITH ORGANIZATIONS THAT SHARE A DEEP COMMITMENT TO THE FOUNDATION'S MISSION. THE FOUNDATION EMPOWERS ITS GRANTEES AND PROGRAMMING PARTNERS TO REACH PEOPLE WHERE THEY LIVE, WORK AND LEARN. IT FOCUSES ON BUILDING CAPACITY AND NURTURING SUPPORTIVE NETWORKS THAT STAND READY AND WELL EQUIPPED TO GUIDE AMERICANS THROUGH LIFE'S FINANCIAL DECISIONS AND CHALLENGES. 4A) PROTECT CONSUMERS FROM FINANCIAL FRAUD (2018 ALLOCATION: $1,429,244) THE FOUNDATION EDUCATES AMERICANS ABOUT FINANCIAL FRAUD, HOW TO AVOID AND REPORT IT, AND THE STEPS TO TAKE IF VICTIMIZED. THROUGH RESEARCH (ON FRAUD SUSCEPTIBILITY AND OTHER CRITICALLY IMPORTANT TOPICS), EDUCATION, AND OUTREACH, THE FOUNDATION INCREASES FRAUD PREVENTION AND AWARENESS, EMPOWERS CONSUMERS, AND TRAINS LAW ENFORCEMENT TO RECOGNIZE AND TAKE ACTION AGAINST FINANCIAL FRAUD. NONPROFIT ORGANIZATIONS AND ACADEMIC INSTITUTIONS THAT HAVE ENTERED INTO PARTNERSHIP AGREEMENTS WITH THE FOUNDATION AS PART OF ITS INVESTOR PROTECTION CAMPAIGN INCLUDE THE FOLLOWING: AARP FOUNDATION; ALLIANCE FOR RETIRED AMERICANS; COMMONWEALTH; COUNCIL OF BETTER BUSINESS BUREAUS AND THE BBB INSTITUTE; FIRST NATIONS DEVELOPMENT INSTITUTE; NATIONAL CENTER FOR VICTIMS OF CRIME; NATIONAL TELEMARKETING VICTIM CALL CENTER; NATIONAL WHITE COLLAR CRIME CENTER; AND STANFORD UNIVERSITY (THE STANFORD CENTER ON LONGEVITY). 4B) FOSTER SUSTAINABLE FINANCIAL EDUCATION: (2018 ALLOCATION - $957,537) THE FOUNDATION SUPPORTS AND MANAGES PERSONAL FINANCE PROGRAMS, PROFESSIONAL TRAINING, RESEARCH, AND SERVICES TO ASSIST A WIDE VARIETY OF AUDIENCES. THESE EFFORTS COMPRISE WORKPLACE AND COMMUNITY-LEVEL INITIATIVES THAT IMPROVE FINANCIAL STABILITY, FINANCIAL PLANNING, AND INVESTING KNOWLEDGE AND DECISION-MAKING. THE FOUNDATION'S FINANCIAL WELLNESS AT WORK PROJECT-ADMINISTERED IN COLLABORATION WITH UNITED WAY WORLDWIDE (UWW)-HELPS NONPROFITS IN THE COMMUNITY PROVIDE WORKPLACE FINANCIAL WELLNESS SERVICES FOR LOWER-INCOME EMPLOYEES. TOGETHER, THE FOUNDATION AND UWW MAINTAIN A NATIONAL NETWORK OF NONPROFIT ORGANIZATIONS THAT HELP EMPLOYERS IN ALL SECTORS OF THE ECONOMY MAKE FINANCIAL WELLNESS A SEAMLESS PART OF THE WORKDAY. THROUGH PROFESSIONAL DEVELOPMENT INSTITUTES, MODEL PROGRAMS AND SERVICES, GRANT FUNDING, AND OPPORTUNITIES TO SHARE BEST PRACTICES, THIS GROWING NETWORK IS RETHINKING OUR APPROACH TO FINANCIAL CAPABILITY IN WAYS THAT FIT WORKERS' DAILY LIVES AND MAKE SENSE FOR HOW, WHERE, AND WHEN PEOPLE MAKE DECISIONS ABOUT MONEY. OTHER PARTNERS INCLUDE CATHOLIC CHARITIES USA AND THE FILENE RESEARCH INSTITUTE. IN ADDITION, THE FOUNDATION AND THE AMERICAN LIBRARY ASSOCIATION HAVE WORKED TOGETHER SINCE 2007 TO BUILD THE CAPACITY OF PUBLIC LIBRARIES TO HELP PATRONS, YOUNG AND ADULT, LEARN ABOUT MONEY AND ACHIEVE FINANCIAL GOALS. THIS SUPPORT HAS ENCOMPASSED THE DEVELOPMENT OF MODEL FINANCIAL EDUCATION PROGRAMS AND EXHIBITS AT LIBRARIES, COLLECTION DEVELOPMENT, ASSISTANCE FOR LIBRARIES HELPING FAMILIES RECOVER FINANCIALLY FROM MAJOR NATURAL DISASTERS, THE PROVISION OF JUST-IN-TIME INFORMATION MATERIALS, AND GRANT FUNDING. THE FOUNDATION ALSO HOSTS A FULL PLATFORM OF ONLINE STAFF DEVELOPMENT COURSES CREATED BY AND FOR LIBRARY PROFESSIONALS. 4C) ADVANCE MILITARY FINANCIAL READINESS (2018 ALLOCATION $679,389) THE FOUNDATION'S MILITARY FINANCIAL READINESS PROJECT DELIVERS FREE, HIGH-QUALITY, UNBIASED INFORMATION AND TOOLS TO MILITARY SERVICE MEMBERS AND THEIR FAMILIES. THROUGH TRAINING, EDUCATION, AND OUTREACH, THE FOUNDATION INCREASES PERSONAL FINANCIAL EXPERTISE AND SERVICES IN MILITARY COMMUNITIES, IMPROVES THE CREDIT MANAGEMENT OF SERVICE MEMBERS AND THEIR SPOUSES, AND PROVIDES OUTREACH SERVICES TO THE MILITARY COMMUNITY. NONPROFIT ORGANIZATIONS THAT HAVE ENTERED INTO PARTNERSHIP AGREEMENTS WITH THE FOUNDATION AS PART OF THIS PROJECT INCLUDE THE FOLLOWING: ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION; CONSUMER FEDERATION OF AMERICA; AND THE MILITARY FAMILY ADVISORY NETWORK. 4D) TRACK AND COMMUNICATE FINANCIAL CAPABILITY (2018 ALLOCATION $575,005) THE FOUNDATION CONDUCTS THE NATIONAL FINANCIAL CAPABILITY STUDY (NFCS), A LARGE-SCALE, MULTI-YEAR PROJECT THAT ADVANCES COMPREHENSIVE UNDERSTANDING OF THE FINANCIAL CAPABILITY OF ADULTS IN THE UNITED STATES. THE STUDY TRACKS KEY INDICATORS OF FINANCIAL CAPABILITY AND EVALUATES HOW THESE INDICATORS VARY OVER TIME WITH UNDERLYING DEMOGRAPHIC, BEHAVIORAL, ATTITUDINAL, AND FINANCIAL LITERACY CHARACTERISTICS. THE NFCS, IN TURN, INSPIRES ADDITIONAL STUDIES ON MAJOR FINANCIAL CAPABILITY ISSUES AFFECTING AMERICANS. IN 2018, FOR EXAMPLE, THE FOUNDATION PUBLISHED "GENDER, GENERATION, AND FINANCIAL KNOWLEDGE: A SIX YEAR PERSPECTIVE," WHICH WAS BASED ON NFCS DATA. IN ADDITION TO PROVIDING RESEARCH GRANTS AS IDENTIFIED ON SCHEDULE I, THE FOUNDATION ENABLES STUDIES TO HELP DECISION-MAKERS AND PRACTITIONERS ADVANCE FINANCIAL WELL-BEING IN COMMUNITIES NATIONWIDE. THE FOUNDATION ALSO PURSUES AN ACTIVE RESEARCH AGENDA FOCUSING ON FINANCIAL FRAUD IN AMERICA, AND IT COLLABORATES ON A VARIETY OF STUDIES TO HELP DECISION-MAKERS UNDERSTAND WHAT WORKS WHEN IT COMES TO FINANCIAL EDUCATION AND PROTECTION. FOR EXAMPLE, THE FOUNDATION COLLABORATED WITH CFA INSTITUTE ON A 2018 STUDY DETAILING THE INVESTING KNOWLEDGE, ATTITUDES, AND BEHAVIORS OF MILLENNIALS AND COMPARING THEM TO OTHER GENERATIONS OF AMERICANS. FORM 990, PART VI, LINE 15 EXCISE TAX FOR ROBERT W. COOK, A COVERED EMPLOYEE OF THE FOUNDATION'S PARENT, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, WAS REPORTED AND PAID BY FINRA WHERE HE SERVES AS THE PRESIDENT & CEO. FORM 990, PART VI, LINES 6, 7A AND 7B LINE 6 - THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. (FINRA) IS THE SOLE MEMBER OF THE FOUNDATION. LINE 7A - FINRA, AS SOLE MEMBER, ELECTS ALL MEMBERS OF THE GOVERNING BODY. LINE 7B - THE BYLAWS OF THE CORPORATION MAY BE AMENDED BY THE SOLE MEMBER, FINRA. THE CERTIFICATE OF INCORPORATION OF THE CORPORATION MAY BE AMENDED OR REPEALED IN WHOLE OR IN PART ONLY WITH THE AFFIRMATIVE APPROVAL OF THE MEMBER, FINRA. FORM 990, PART VI, LINE 11B THE FORM 990 WAS REVIEWED BY SENIOR MANAGEMENT AT VARIOUS STEPS THROUGHOUT THE PREPARATION CYCLE. THE FOUNDATION BOARD REVIEWED THE FINAL VERSION ON OCTOBER 3, 2019. FORM 990, PART VI EMPLOYMENT RULES AND POLICIES THE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. ALL SERVICES ARE PROVIDED BY EMPLOYEES OF FINRA. THE FOUNDATION DOES NOT PAY FOR THEIR SERVICES. AS SUCH, THOSE INDIVIDUALS ARE SUBJECT TO THE EMPLOYMENT RULES AND POLICIES OF FINRA. FORM 990, PART VI, LINE 12C THE FOUNDATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT GOVERNS THE PROFESSIONAL AND ETHICAL CONDUCT OF BOARD MEMBERS, OFFICERS AND STAFF. AMONG OTHER THINGS, MEMBERS, OFFICERS, AND STAFF ARE PROHIBITED FROM DERIVING ANY PERSONAL PROFIT OR GAIN, DIRECTLY OR INDIRECTLY, BY REASON OF THEIR SERVICE TO THE FOUNDATION. MOREOVER, THE POLICY EXPRESSLY PROHIBITS SELF-DEALING. THE WRITTEN CONFLICT OF INTEREST POLICY REQUIRES BOARD MEMBERS AND OFFICERS TO MAKE INITIAL DISCLOSURE OF INTERESTS THAT COULD GIVE RISE TO CONFLICTS AS WELL AS ANNUAL DISCLOSURE BY THE SAME BOARD MEMBERS AND OFFICERS. ADDITIONALLY, THE WRITTEN POLICY CONTAINS AN ONGOING OBLIGATION OF BOARD MEMBERS, OFFICERS AND STAFF TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST AS THEY ARISE. THE ORGANIZATION'S OFFICERS AND STAFF ARE EMPLOYEES OF FINRA, AND, AS SUCH, ARE ALSO REQUIRED TO CERTIFY ANNUALLY AS TO THEIR COMPLIANCE WITH FINRA'S WRITTEN CONFLICT OF INTEREST POLICY. FOR FURTHER INFORMATION REGARDING FINRA'S WRITTEN CONFLICT OF INTEREST POLICY, PLEASE REFER TO THE 2018 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 FOR THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FORM 990, PART VI, LINES 15A AND 15B THE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. ALL SERVICES ARE PROVIDED BY EMPLOYEES OF FINRA. THE FOUNDATION DOES NOT COMPENSATE THESE EMPLOYEES OF FINRA FOR THEIR SERVICE. THE PRESIDENT OF THE FOUNDATION SERVES AS THE LEAD OFFICER DIRECTING THE ACTIVITIES OF THE ORGANIZATION. IN DETERMINING SPECIFIC SALARY AND INCENTIVE COMPENSATION LEVELS FOR OFFICERS AND KEY EMPLOYEES OF FINRA, FINRA MANAGEMENT AND THE MANAGEMENT COMPENSATION COMMITTEE (THE "COMMITTEE") OF THE FINRA BOARD OF GOVERNORS CONSIDER: 1) OPERATIONAL RESULTS 2) STRATEGIC INITIATIVES 3) FINANCIAL HEALTH/RESULTS 4) INDIVIDUAL PERFORMANCE 5) COMPETITIVE COMPENSATION LEVELS AS PREPARED BY MERCER, INC., A THIRD-PARTY COMPENSATION CONSULTANT. THE COMMITTEE'S MINUTES OF THE MARCH 7, 2018 MEETING WERE REVIEWED AND APPROVED AS ACCURATE AND COMPLETE. THE FULL BOARD FURTHER APPROVED THE 2017 INCENTIVE COMPENSATION OF THE CEO AT ITS MEETING ON MARCH 8, 2018. FOR FURTHER INFORMATION REGARDING THE COMPENSATION OF OFFICERS, PLEASE REFER TO THE 2018 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 FOR THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FORM 990, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART VII, SECTION B AMERICAN LIBRARY ASSOCIATION - DEVELOPED AND CONDUCTED A COMPREHENSIVE FINANCIAL EDUCATION INITIATIVE SERVING U.S. LIBRARIES. ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION - DEVELOPED AND MANAGED TRAINING AND CERTIFICATION PROGRAM FOR THE FOUNDATION MILITARY SPOUSE FELLOWSHIP PROGRAM; CREATED AND DELIVERED CONTENT FOR MILITARY FINANCIAL COUNSELOR CONTINUING EDUCATION PROGRAM. APPLIED RESEARCH & CONSULTING - PROVIDED RESEARCH SERVICES FOR THE NATIONAL FINANCIAL CAPABILITY STUDY AS WELL AS CONSULTING SERVICES REGARDING STRATEGIC PLANNING. AARP FOUNDATION - CONDUCTED PROACTIVE PEER COUNSELING TO VULNERABLE CONSUMERS AND VICTIMS OF FINANCIAL FRAUD. NATIONAL CENTER FOR VICTIMS OF CRIME - DESIGNED, DEVELOPED AND IMPLEMENTED PLAN TO HELP ASSIST VICTIMS OF FINANCIAL FRAUD AND COUNSEL THEM ON HOW TO AVOID BECOMING TARGETS IN THE FUTURE. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES PRIMARILY RELATE TO CONTRIBUTED SERVICES $2,971,223, INVESTMENT EXPENSES $127,128, AND THE REVERSAL OF GRANT EXPENSES RELATING TO PRIOR PERIODS ($49,450). 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