SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION INC: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION INC (EIN 32-0178959)
- Tax period
- 2016-11-01 to 2017-10-31
- Filed
- 2018-08-31
- IRS object ID
- 201802439349300905
- Schema version
- 2016v3.1
- 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 | 2018-08-31T11:15:46-05:00 | ReturnTs |
| Tax Period End | 2017-10-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 757 THIRD AVENUE 4TH FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 100172013 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2016-11-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 320178959 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Securities Industry and Financial | BusinessNameLine1Txt |
| Business Name Line2 | Markets Association | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % NAM KIM | InCareOfNm |
| Business Name Control | SECU | BusinessNameControlTxt |
| Phone | 2123131371 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 120 Broadway Suite 35th Fl | AddressLine1Txt |
| City | New York | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10271 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DAVID KRASNER | PersonNm |
| Person Title | CFO & CAO | PersonTitleTxt |
| Phone | 2123131371 | PhoneNum |
| Signature | 2018-08-31 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Daniel Romano | PreparerPersonNm |
| PTIN | P00504182 | PTIN |
| Phone | 2125990100 | PhoneNum |
| Preparation | 2018-08-31 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KENNETH E BENTSEN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 120 Broadway35th Fl | AddressLine1Txt |
| City | New York | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10271 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $46,068,484 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.sifma.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2006 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | SIFMA IS THE VOICE OF THE U.S. SECURITIES INDUSTRY. WE ARE A MEMBER-DRIVEN ORGANIZATION THAT ADVOCATES FOR EFFECTIVE AND EFFICIENT CAPITAL MARKETS. (CONTINUED IN SCH. O) | ActivityOrMissionDesc |
| Voting Members Governing Body | 41 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 40 | VotingMembersIndependentCnt |
| Total Employee | 172 | TotalEmployeeCnt |
| Total Volunteers | 13417 | TotalVolunteersCnt |
| Total Gross UBI | $9,693 | TotalGrossUBIAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $63,253,574 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $44,343,353 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,454,849 | PYInvestmentIncomeAmt |
| CY Investment Income | $890,139 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,365,136 | PYOtherRevenueAmt |
| CY Other Revenue | $817,378 | CYOtherRevenueAmt |
| PY Total Revenue | $66,073,559 | PYTotalRevenueAmt |
| CY Total Revenue | $46,050,870 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $713,927 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $357,240 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $36,561,391 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $35,540,965 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $26,905,118 | PYOtherExpensesAmt |
| CY Other Expenses | $24,054,180 | CYOtherExpensesAmt |
| PY Total Expenses | $64,180,436 | PYTotalExpensesAmt |
| CY Total Expenses | $59,952,385 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,893,123 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$13,901,515 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $67,911,138 | TotalAssetsBOYAmt |
| Total Assets EOY | $54,987,555 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $30,781,884 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $30,648,220 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $37,129,254 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $24,339,335 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SIFMA IS THE VOICE OF THE U.S. SECURITIES INDUSTRY. WE ARE A MEMBER-DRIVEN ORGANIZATION THAT ADVOCATES FOR EFFECTIVE AND EFFICIENT CAPITAL MARKETS. (CONTINUED IN SCHEDULE O) | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | CONTINUED DEVELOPMENT AND MAINTENANCE OF BEST PRACTICES THAT ARE CONDUCIVE TO EFFICIENT CONDUCT OF THE BUSINESS AND MEMBERS OF THE ORGANIZATION: (CONTINUED IN SCHEDULE O) | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ADVOCACY ADVOCACY FOR ISSUES OF IMPORTANCE TO ITS MEMBERS: SIFMA BRINGS TOGETHER THE SHARED INTERESTS OF HUNDREDS OF BROKER-DEALERS, BANKS AND ASSET MANAGERS. WE ADVOCATE IN SUPPORT OF EFFECTIVE AND RESILIENT CAPITAL MARKETS. (CONTINUED IN SCHEDULE O) | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CONFERENCES AND SEMINARS SIFMA EVENTS FOSTER MEANINGFUL CONVERSATIONS ABOUT CRITICAL ISSUES IMPACTING OUR FINANCIAL MARKETS. BY PROVIDING RELEVANT AND LIVELY FORUMS, WE BRING TOGETHER INDUSTRY PROFESSIONALS WITH LEADING INDUSTRY EXECUTIVES AND EXPERTS, REGULATORS, AND POLICYMAKERS TO DISCUSS THE MOST PRESSING ISSUES FACING THE CAPITAL MARKETS TODAY. (CONTINUED IN SCHEDULE O) | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (true) | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 174 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 172 | 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 | 41 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 40 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | NAM KIM | PersonNm |
| Phone | 2123131371 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 120 BROADWAY 35TH FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10271 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (54 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| TIMOTHY C SCHEVE | ||||||||
| CHAIRMAN OF THE BOARD | 2.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| LISA KIDD HUNT | ||||||||
| CHAIR-ELECT | 2.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JAMES WALLIN | ||||||||
| TREASURER | 2.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JAMES R ALLEN | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| DAN ARNOLD | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| BARRY BAUSANO | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| CURT BRADBURY JR | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| VALERIE G BROWN | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| WILLIAM C CACCAMISE | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| DANIEL B COLEMAN | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL CROWL | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| LISA DOLLY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| ANDREW S DUFF | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JOHN ETTELSON | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| DAVID FINDLAY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| CATHERINE FLAX | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| KIM TILLOTSON FLEMING | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| SUNI HARFORD | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| TIM HOCKEY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JAMES KELLIGREW JR | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| ANDREW KOMAROFF | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| RONALD J KRUSZEWSKI | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| GERARD MCGRAW | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| BRAND MEYER | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| ROGER OCHS | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| SANDRA O'CONNOR | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| DAVID ORNSTEIN | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| EDWARD PICK | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| PAUL E PURCELL | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| PAUL REILLY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JOHN FW ROGERS | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| URSULA SCHLIESSLER | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| SUZANNE SHANK | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| PAUL STEVELMAN | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JOSEPH E SWEENEY | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JAMES A TRICARICO JR | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| JOHN VACCARO | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| LEWIS WIRSHBA | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| GARY WUNDERLICH | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| W RUFUS YATES | ||||||||
| DIRECTOR | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| DOUGLAS M HODGE | ||||||||
| DIRECTOR (THRU 11/2016) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| WILLIAM A JOHNSTONE | ||||||||
| DIRECTOR (THRU 11/2016) | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| KENNETH E BENTSEN JR | ||||||||
| PRESIDENT AND CEO | 40.0 | 0.0 | Yes (X) | Yes (X) | $2,288,268 | $0 | $77,878 | |
| RANDOLPH C SNOOK | ||||||||
| EXECUTIVE VICE PRESIDENT | 40.0 | 0.0 | Yes (X) | $1,029,078 | $0 | $69,237 | ||
| IRA D HAMMERMAN | ||||||||
| EVP & GEN. COUNSEL, SECRETARY | 40.0 | 0.0 | Yes (X) | $924,328 | $0 | $90,568 | ||
| CHERYL L CRISPEN | ||||||||
| EXECUTIVE VICE PRESIDENT | 40.0 | 0.0 | Yes (X) | $527,838 | $0 | $74,128 | ||
| ANDY BLOCKER | ||||||||
| EXECUTIVE VICE PRESIDENT | 40.0 | 0.0 | Yes (X) | $737,150 | $0 | $76,628 | ||
| DAVID B KRASNER | ||||||||
| CFO & CAO | 40.0 | 0.0 | Yes (X) | $641,650 | $0 | $74,756 | ||
| SALVATORE CHIARELLI | ||||||||
| EXECUTIVE VICE PRESIDENT | 40.0 | 0.0 | Yes (X) | $299,989 | $0 | $48,904 | ||
| TIMOTHY W CAMERON | ||||||||
| MANAGING DIRECTOR, AMG | 40.0 | 0.0 | $598,260 | $0 | $74,818 | Yes (X) | ||
| KEVIN CARROLL | ||||||||
| MANAGING DIRECTOR | 40.0 | 0.0 | $448,888 | $0 | $36,448 | Yes (X) | ||
| MICHAEL B DECKER | ||||||||
| MANAGING DIRECTOR | 40.0 | 0.0 | $475,775 | $0 | $69,365 | Yes (X) | ||
| CARTER K MCDOWELL | ||||||||
| MANAGING DIRECTOR | 40.0 | 0.0 | $486,128 | $0 | $66,619 | Yes (X) | ||
| JOHN MAURELLO | ||||||||
| MANAGING DIRECTOR | 40.0 | 0.0 | $464,478 | $0 | $76,198 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $8,921,830 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $835,547 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 91 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Davis Polk Wardwell LLP | |||||
| 450 LEXINGTON AVENUE | NEW YORK | NY | 10017 | LEGAL | $1,611,324 |
| Trustees Univ of Pennsylvania | |||||
| 255 S 38TH STREET | PHILADELPHIA | PA | 19104 | CONFERENCES | $772,735 |
| Cleary Gottlieb Steen Hamilton LL | |||||
| ONE LIBERTY PLAZA | NEW YORK | NY | 10006 | LEGAL | $500,000 |
| Upstatement LLC | |||||
| 133 Prtland Street | BOSTON | MA | 021141707 | Web Design | $430,039 |
| Gibson Dunn Crutcher LLP | |||||
| 1050 Connecticut Ave NW | WASHINGTON | DC | 200365306 | LEGAL | $349,823 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 25 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| MEMBER DUES | 541900 | $43,829,877 | $43,829,877 | |
| ONE TIME BROKER DEAL MEMBER DUES CREDIT | 541900 | -$14,985,353 | -$14,985,353 | |
| CONFERENCES | 541900 | $15,333,348 | $15,327,355 | $5,993 |
| PULICATION SALES | 900099 | $165,481 | $161,781 | $3,700 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $44,343,353 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $907,753 | TotalRevenueColumnAmt |
| Exclusion | $907,753 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $108,211 | TotalRevenueColumnAmt |
| Exclusion | $108,211 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $17,614 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -$17,614 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$17,614 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Gross Income | $0 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $0 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt |
|---|---|---|---|
| SHARED SERVICE AGREEMENT | 561000 | $551,782 | $551,782 |
| MISCELLANEOUS REVENUE | 900099 | $157,385 | $157,385 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $709,167 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $46,050,870 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $44,333,660 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $9,693 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,725,131 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $357,240 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
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 | $7,014,182 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
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 | $21,831,457 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,670,157 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,666,916 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,358,253 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $185,571 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,852,780 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $125,097 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $729,009 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
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 | $94,504 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,559,388 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,183,421 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $705,252 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,497,898 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,424,715 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,387,399 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,918,960 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| SUBSCRIPTION AND BOOKS | $597,394 | $0 | $0 | $0 |
| BANK CHARGES & CC PROCESSING | $322,712 | $0 | $0 | $0 |
| PRINTING | $269,114 | $0 | $0 | $0 |
| DUES & REGISTRATION | $189,561 | $0 | $0 | $0 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,405 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,952,385 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,778,565 | BOYAmt |
| EOY | $2,514,327 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,071,377 | BOYAmt |
| EOY | $20,807,149 | 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 | $38,032 | BOYAmt |
| EOY | $164,334 | 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 | $3,798,520 | BOYAmt |
| EOY | $2,764,722 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $30,486,486 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $22,581,425 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,233,074 | BOYAmt |
| EOY | $7,905,061 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,948,350 | BOYAmt |
| EOY | $19,383,557 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,043,220 | BOYAmt |
| EOY | $1,448,405 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,911,138 | BOYAmt |
| EOY | $54,987,555 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,574,238 | BOYAmt |
| EOY | $11,798,434 | 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 | $2,823,599 | BOYAmt |
| EOY | $3,507,322 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,347,036 | BOYAmt |
| EOY | $1,542,674 | 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 | $15,037,011 | BOYAmt |
| EOY | $13,799,790 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,781,884 | BOYAmt |
| EOY | $30,648,220 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $37,129,254 | BOYAmt |
| EOY | $24,339,335 | 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 | $37,129,254 | BOYAmt |
| EOY | $24,339,335 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,911,138 | BOYAmt |
| EOY | $54,987,555 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$13,901,515 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $557,863 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $553,733 | 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 |
| Dues Assessments | $28,844,524 | DuesAssessmentsAmt |
| Non Deductible Lbbyng Pltcl CY | $6,932,823 | NonDeductibleLbbyngPltclCYAmt |
| Non Ded Lbbyng Pltcl Cyov | $0 | NonDedLbbyngPltclCyovAmt |
| Non Deductible Lbbyng Pltcl Tot | $6,932,823 | NonDeductibleLbbyngPltclTotAmt |
| Aggregate Reported Dues Ntc | $4,326,679 | AggregateReportedDuesNtcAmt |
| Carried Over | $2,606,144 | CarriedOverAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp | |
| Land | LandGrp | |
| Buildings | BuildingsGrp |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $20,595,033 | OtherCostOrOtherBasisAmt |
| Depreciation | $13,861,701 | DepreciationAmt |
| Book Value | $6,733,332 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,891,452 | OtherCostOrOtherBasisAmt |
| Depreciation | $8,719,723 | DepreciationAmt |
| Book Value | $1,171,729 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Land Buildings | OtherLandBuildingsGrp | |
| Total Book Value Land Buildings | $7,905,061 | TotalBookValueLandBuildingsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| EMPLOYEE BENEFITS PAYABLE | $9,383,904 |
| DEFERRED RENT & CONSTR. ALLOWANCES | $4,211,596 |
| DUE TO RELATED PARTIES | $204,290 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $13,799,790 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $46,705,536 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $557,863 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $557,863 | RevenueNotReportedAmt |
| Revenue Subtotal | $46,147,673 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | -$79,189 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | -$17,614 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$96,803 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $46,050,870 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $59,495,455 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | -$536,119 | OtherExpensesIncludedAmt |
| Expenses Not Reported | -$536,119 | ExpensesNotReportedAmt |
| Expenses Subtotal | $60,031,574 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | -$79,189 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | -$79,189 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $59,952,385 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE D, PART IV | CUSTODIAL ARRANGEMENTS IN ORDER TO FINANCE CERTAIN MEMBER DRIVEN PROJECTS THAT ARE BEYOND SIFMA'S OPERATING BUDGET RESOURCES AND WHICH IMPACT ONLY A SUBSET OF MEMBERS, SIFMA SYNDICATES OUT SUCH PROJECT COST TO PARTICIPATING MEMBER FIRMS. THE 3RD PARTY PROJECT COST (AND ASSOCIATED MEMBER REIMBURSEMENT) IS MAINTAINED WITHIN THE SIFMA BALANCE SHEET. IN 2017, THE SYNDICATED FUNDS COLLECTED FROM MEMBERS AND DISBURSED FOR SUCH SPECIAL PROJECTS TOTALED $2,110,199 AND $1,914,561 RESPECTIVELY. |
| SCHEDULE D, PART X | FIN 48 THE ASSOCIATION FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE ASSOCIATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER FEDERAL INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE, THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE ASSOCIATION HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE ASSOCIATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. |
| SCHEDULE D, PART XI, LINE 4B | RECONCILIATION OF REVENUE RECLASS COST OF DISPOSED ASSETS ($17,614) |
| SCHEDULE D, PART XII, LINE 2D | RECONCILIATION OF EXPENSES POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC POSTRETIREMENT BENEFIT COST ($586,283) OTHER NONOPERATING EXPENSE $9,550 MEMBERSHIP DUES RESERVE $23,000 RECLASSED COST OF DISPOSED ASSETS $17,614 ---------- TOTAL OTHER CHANGES: ($536,119) ========== |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (16 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Purpose Of GrantPurposeOfGrantTxt | Address Line2USAddress/AddressLine2Txt |
|---|---|---|---|---|---|---|---|---|
| SCHOLARSHIP AMERICA | ||||||||
| 226 W NASSAU STREET | ST PETER | MN | 56082 | 042296967 | 501(c)(3) | $17,950 | PROGRAM SUPPORT | |
| THE BARUCH COLLEGE FUND | ||||||||
| 1 BERNARD BARUCH WAY | NEW YORK | NY | 10010 | 131988190 | 501(c)(3) | $10,000 | PROGRAM SUPPORT | |
| NCSL FOUNDATION FOR STATE LEGISLATURES | ||||||||
| 7700 EAST FIRST PLACE | DENVER | CO | 80230 | 742232576 | 501(c)(3) | $7,500 | PROGRAM SUPPORT | |
| COMMITTEE ON CAPITAL MARKETS REGULATION INC | ||||||||
| 125 MOUNT AUBURN STREET | CAMBRIDGE | MA | 02138 | 300406260 | 501(c)(3) | $50,000 | PROGRAM SUPPORT | |
| NEW YORK LAW SCHOOL | ||||||||
| 185 WEST BROADWAY | NEW YORK | NY | 10013 | 135645885 | 501(c)(3) | $10,000 | PROGRAM SUPPORT | |
| SEC HISTORICAL SOCIETY | ||||||||
| 1101 PENNSYLVANIA AVE | WASHINGTON | DC | 20004 | 522213646 | 501(c)(3) | $10,000 | PROGRAM SUPPORT | |
| NAPSA | ||||||||
| PO BOX 96503 | WASHINGTON | DC | 20090 | 300044497 | 501(c)(3) | $35,000 | PROGRAM SUPPORT | |
| NATIONAL CAPITAL AREA COUNCIL | ||||||||
| 9190 ROCKVILLE PIKE | BETHESDA | MD | 20814 | 530204610 | 501(c)(3) | $13,000 | PROGRAM SUPPORT | |
| UNITED STATES CAPITOL HISTORICAL SOCIETY | ||||||||
| 200 MARYLAND AVE NE | WASHINGTON | DC | 20002 | 520796820 | 501(c)(3) | $12,500 | PROGRAM SUPPORT | 501c3 |
| AMERICAN COUNCIL FOR CAPITAL FORMATION | ||||||||
| 1001 CONNECTICUT AVE | WASHINGTON | DC | 20036 | 520991278 | 501(c)(6) | $25,000 | PROGRAM SUPPORT | |
| PREVENT CANCER FOUNDATION | ||||||||
| 1600 DUKE ST STE 500 | ALEXANDRIA | VA | 22314 | 521429544 | 501(c)(3) | $7,000 | PROGRAM SUPPORT | |
| WASHINGTON TENNIS & EDUCATION FOUNDATION | ||||||||
| 16TH AND KENNEDY ST | WASHINGTON | DC | 20011 | 526046504 | 501(c)(3) | $10,125 | PROGRAM SUPPORT | |
| Fordham University | ||||||||
| 45 Columbus Avenue | New York | NY | 10023 | 131740451 | 501(c)(3) | $10,000 | PROGRAM SUPPORT | |
| American Action Forum | ||||||||
| 1747 Pennsylvania Ave | Washington | DC | 20006 | 270567765 | 501(c)(3) | $25,000 | PROGRAM SUPPORT | |
| Americans for Tax Reform | ||||||||
| 722 12th Street NW | Washington | DC | 20005 | 521403587 | 501(c)(4) | $15,000 | PROGRAM SUPPORT | |
| SIFMA Foundation for Investor Education Inc | ||||||||
| 120 Broadway 35th Floor | New York | NY | 10271 | 521087193 | 501(c)(3) | $37,500 | PROGRAM SUPPORT | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 14 | Total501c3OrgCnt |
| Total Other Org | 2 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE I, PART I, LINE 2 | FormAndLineReferenceDesc |
| Explanation | GRANT MONITORING SIFMA PROVIDES SUPPORT TO CHARITABLE ORGANIZATIONS TO HELP THOSE ORGANIZATIONS FURTHER THEIR EXEMPT PROGRAMS. SIFMA IS NOT A GRANT MAKING ORGANIZATION BUT WILL OCCASIONALLY AWARD A GRANT TO ORGANIZATIONS IN SUPPORT OF A PROJECT THAT ALIGNS ITSELF WITH SIFMA'S MISSION OF PROMOTING AND SUPPORTING A STRONG FINANCIAL INDUSTRY. SIFMA MAINTAINS IN ITS RECORDS THE ACKNOWLEDGMENT LETTER FROM THE RECIPIENT ORGANIZATION AND ANY FOLLOW UP REPORTS ON THE USE OF GRANT FUNDS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (12 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KENNETH E BENTSEN JR | ||||||||||||||
| PRESIDENT AND CEO | $1,484,656 | $0 | $800,000 | $0 | $3,612 | $0 | $31,800 | $0 | $46,078 | $0 | $2,366,146 | $0 | $0 | $0 |
| RANDOLPH C SNOOK | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $655,466 | $0 | $370,000 | $0 | $3,612 | $0 | $33,969 | $0 | $35,268 | $0 | $1,098,315 | $0 | $0 | $0 |
| IRA D HAMMERMAN | ||||||||||||||
| EVP & GEN. COUNSEL, SECRETARY | $577,716 | $0 | $325,000 | $0 | $21,612 | $0 | $47,550 | $0 | $43,018 | $0 | $1,014,896 | $0 | $0 | $0 |
| CHERYL L CRISPEN | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $353,406 | $0 | $172,500 | $0 | $1,932 | $0 | $31,800 | $0 | $42,328 | $0 | $601,966 | $0 | $0 | $0 |
| ANDY BLOCKER | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $535,890 | $0 | $200,000 | $0 | $1,260 | $0 | $31,800 | $0 | $44,828 | $0 | $813,778 | $0 | $0 | $0 |
| DAVID B KRASNER | ||||||||||||||
| CFO & CAO | $394,718 | $0 | $245,000 | $0 | $1,932 | $0 | $31,800 | $0 | $42,956 | $0 | $716,406 | $0 | $0 | $0 |
| SALVATORE CHIARELLI | ||||||||||||||
| EXECUTIVE VICE PRESIDENT | $198,729 | $0 | $100,000 | $0 | $1,260 | $0 | $31,800 | $0 | $17,104 | $0 | $348,893 | $0 | $0 | $0 |
| TIMOTHY W CAMERON | ||||||||||||||
| MANAGING DIRECTOR, AMG | $417,716 | $0 | $175,000 | $0 | $5,544 | $0 | $31,800 | $0 | $43,018 | $0 | $673,078 | $0 | $0 | $0 |
| KEVIN CARROLL | ||||||||||||||
| MANAGING DIRECTOR | $326,956 | $0 | $120,000 | $0 | $1,932 | $0 | $31,800 | $0 | $4,648 | $0 | $485,336 | $0 | $0 | $0 |
| MICHAEL B DECKER | ||||||||||||||
| MANAGING DIRECTOR | $358,843 | $0 | $115,000 | $0 | $1,932 | $0 | $33,969 | $0 | $35,396 | $0 | $545,140 | $0 | $0 | $0 |
| CARTER K MCDOWELL | ||||||||||||||
| MANAGING DIRECTOR | $407,516 | $0 | $75,000 | $0 | $3,612 | $0 | $31,800 | $0 | $34,819 | $0 | $552,747 | $0 | $0 | $0 |
| JOHN MAURELLO | ||||||||||||||
| MANAGING DIRECTOR | $320,934 | $0 | $120,000 | $0 | $23,544 | $0 | $59,475 | $0 | $16,723 | $0 | $540,676 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE J, PART I, LINE 1A | FIRST-CLASS TRAVEL PER THE EMPLOYMENT CONTRACT, SIFMA PROVIDED FIRST CLASS AIR TRAVEL WHEN TRAVELING FOR SIFMA BUSINESS FOR KENNETH E. BENTSEN, JR., PRESIDENT AND CEO. THE FIRST-CLASS AIR TRAVEL WAS EXCLUDED FROM TAXABLE COMPENSATION ON THE INDIVIDUAL'S FORM W-2 BECAUSE IT WAS INCURRED FOR BUSINESS REASONS. |
| SCHEDULE J, PART I, LINE 4B | SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN EVP AND GENERAL COUNSEL PARTICIPATES IN A 457(F)plan. HE RECEIVED A TAXABLE PAYMENT OF $18,000 INCLUDED IN HIS W-2. Managing Director also received $18,000 as part of the 457(f) plan, included in his W-2 wages. SIFMA CONTRIBUTED $43,425 INTO THE 457(F) PLAN DURING CALENDAR YEAR 2017 for both participants. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (12 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990 General Information | DUES REDUCTION EXPLANATION FOR FISCAL YEAR 2017, THE BOARD AUTHORIZED A ONE-TIME MEMBER DUES CREDIT FOR BROKER DEALER MEMBERS, AGGREGATING TO $15 MILLION. THE REVENUE SHORTFALL WAS FUNDED AS A DRAWDOWN OF THE ASSOCIATION'S FINANCIAL RESERVE. Part I, Line 6 VOLUNTEERS THE NUMBER OF VOLUNTEERS WAS DERIVED FROM SIFMA COMMITTEE PARTICIPANTS PER THE MEMBERSHIP DATABASE. |
| PART III, LINE 1 | ORGANIZATION MISSION CONTINUED WE REPRESENT THE BROKER-DEALERS, BANKS AND ASSET MANAGERS WHOSE NEARLY 1 MILLION EMPLOYEES PROVIDE ACCESS TO THE CAPITAL MARKETS, RAISING OVER $2.5 TRILLION FOR BUSINESSES AND MUNICIPALITIES IN THE U.S., SERVING CLIENTS WITH OVER $18.5 TRILLION IN ASSETS AND MANAGING MORE THAN $67 TRILLION IN ASSETS FOR INDIVIDUAL AND INSTITUTIONAL CLIENTS INCLUDING MUTUAL FUNDS AND RETIREMENT PLANS. |
| PART III, LINE 4A | STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS: PROGRAM SERVICES CONTINUED CYBERSECURITY SIFMA IS ACTIVELY ENGAGED IN COORDINATING THE EFFORT TO SUPPORT A SAFE, SECURE INFORMATION INFRASTRUCTURE, WHICH PROVIDES SECURITY OF CUSTOMER INFORMATION AND EFFICIENT, RELIABLE EXECUTION OF TRANSACTIONS. WE CONTINUALLY WORK WITH INDUSTRY AND GOVERNMENT LEADERS TO IDENTIFY AND COMMUNICATE CYBERSECURITY BEST PRACTICES FOR FIRMS OF ALL SIZES AND CAPABILITIES, AND EDUCATE THE INDUSTRY ON EVOLVING THREATS AND APPROPRIATE RESPONSES. PERSONAL DATA AGGREGATION THE FINANCIAL INDUSTRY IS COMMITTED TO ENSURING THE SAFETY OF THE CLIENTS WE SERVE AT EVERY TURN. SIFMA IS COORDINATING A BROAD-BASED INDUSTRY EFFORT TO PROTECT A CUSTOMERS FINANCIAL INFORMATION, WITH A FOCUS ON INVESTORS' RIGHT TO ACCESS THEIR OWN DATA. WE ARE CREATING A SET OF INDUSTRY-WIDE PRINCIPLES FOR PROTECTING, SHARING AND AGGREGATING CUSTOMER FINANCIAL INFORMATION. WE WILL LOOK AT STANDARD CONTRACTS AND OTHER WAYS THAT WE MAY PROMOTE TRANSPARENCY, EFFICIENCY AND TRUST IN THE MARKETPLACE. CONSOLIDATED AUDIT TRAIL (CAT) SIFMA ADVOCATES FOR A SECURE CAT SYSTEM THAT EXPEDITES THE RETIREMENT OF DUPLICATIVE SYSTEMS, WHILE PROMOTING AN INCLUSIVE GOVERNANCE STRUCTURE AND EQUITABLE FUNDING MODEL. AS DEVELOPMENT CONTINUES TO SUPPORT THIS MAJOR INITIATIVE, SIFMA IS ENGAGED WITH THE SEC, THE SROS AND THESYS ON DATA SECURITY AND IMPLEMENTATION ISSUES. MARKET STRUCTURE EQUITY MARKET POLICIES MUST NOT AND CANNOT BE TRANSPOSED TO FIXED INCOME, A GROUP OF UNIQUE MARKETPLACES WHERE CHANGE IS HAPPENING IN BOTH ITS INFRASTRUCTURE AND MARKET PARTICIPANT PROFILE. AS NEW REGULATIONS ARE CONTEMPLATED, THEY MUST KEEP PACE WITH AN INCREASINGLY CONNECTED AND TECHNOLOGY-DRIVEN MARKETPLACE THAT PROVIDES ACCESS TO CAPITAL IN AN EXTREMELY EFFICIENT MANNER (IN 2016 ALONE, OVER 1,300 COMPANIES RAISED $1.5 TRILLION IN THE CORPORATE BOND MARKETS TO FUND THEIR OPERATIONS AND GROWTH). SIFMA IS WORKING TO SHED LIGHT ON THE UNIQUENESS, IMPORTANCE AND DIVERSITY OF THE TREASURY MARKET AS RULEMAKINGS ARE CONSIDERED; INCREASE AWARENESS OF DEVELOPMENTS IN ELECTRONIC BOND TRADING FOR CORPORATE AND MUNICIPAL SECURITIES; AND PROMOTE LIQUIDITY AND TRANSPARENCY WITH MARKET-BASED SOLUTIONS. BEST INTEREST STANDARD SIFMA STRONGLY SUPPORTS ENHANCING INVESTOR PROTECTIONS BY ESTABLISHING A HEIGHTENED AND MORE STRINGENT BROKER-DEALER BEST INTEREST STANDARD. THE SEC SHOULD TAKE THE LEAD IN COORDINATION WITH THE DOL TO DEVELOP SUCH A PRINCIPLES-BASED STANDARD OF CONDUCT FOR THE BENEFIT OF INVESTORS. TAX POLICY AND REFORM SIFMA SUPPORTS TAX REFORM THAT ENHANCES ECONOMIC OPPORTUNITIES FOR INDIVIDUAL AMERICANS, PROMOTES SAVINGS AND ENCOURAGES INVESTMENT, AND LOWERS THE TAX RATE FOR AMERICAN BUSINESSES THAT COMPETE IN A GLOBAL MARKETPLACE WHERE THE U.S. TAX RATE IS AN OUTLIER AND THE U.S. INTERNATIONAL TAX SYSTEM IS OUT OF STEP WITH OUR GLOBAL COMPETITORS. SIFMA SUPPORTS MOVEMENT TO A TERRITORIAL TAX SYSTEM THAT RECOGNIZES THE UNIQUE CHARACTERISTICS OF THE FINANCIAL SERVICES INDUSTRY, A TRANSITION TO SUCH A SYSTEM THAT IS FAIR AND EQUITABLE FOR U.S. FINANCIAL SERVICES COMPANIES AND INVESTORS, AND TAX RULES FOR INBOUND INVESTMENT THAT ENCOURAGES FOREIGN INVESTMENT IN THE U.S. AND DOES NOT DISCRIMINATE AGAINST NON-U.S. FINANCIAL SERVICES COMPANIES SEEKING TO COMPETE IN U.S. MARKETS. INFRASTRUCTURE FINANCE AT SIFMA, WE RECOMMEND FULLY PRESERVING THE TAX EXEMPTION FOR MUNICIPAL BONDS; EXPANDING PUBLIC-PRIVATE PARTNERSHIPS (P3S), INCLUDING THE USE OF PRIVATE ACTIVITY BONDS (PABS); PROMOTING PRIVATE INVESTMENT IN PUBLIC PROJECTS; APPLYING DESIGN-BUILD STRATEGIES; AND REVIVING DIRECT-PAY BONDS. IN ORDER TO BRING OUR INFRASTRUCTURE INTO THE 21ST CENTURY, WE NEED TO INVEST MORE WITHOUT IMPOSING BURDENS THAT CAN WEIGH DOWN OUR ECONOMY. |
| PART III, LINE 4B | STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS: PROGRAM SERVICES CONTINUED ADVOCACY SIFMA, ON BEHALF OF THE FINANCIAL SERVICES INDUSTRY, ENGAGES WITH POLICYMAKERS AND REGULATORS ON A STATE, FEDERAL AND GLOBAL LEVEL THROUGH COMMENT LETTERS, TESTIMONY, STUDIES AND MORE. SIFMAS GOAL IS TO ENSURE REGULATION IS EFFECTIVE, BALANCED AND CONSISTENT WITH ITS INTENDED PURPOSE, APPROPRIATELY COORDINATED WITH OTHER REGULATORS AND REGULATORY REGIMES, AND AVOIDS CONSTRAINING CAPITAL FORMATION AND CREDIT AVAILABILITY, OR OTHERWISE IMPEDING THE FUNCTIONING OF THE MARKETS AND THE INDIVIDUALS THEY SERVE. INTERNATIONAL ISSUES THE ENVIRONMENT FOR CAPITAL FORMATION AND INVESTMENT CAN BE ENHANCED BY OPENING GLOBAL MARKETS, STRENGTHENING INVESTMENT AND REGULATORY CLIMATES IN ALL MARKETS, AND PROMOTING CONSISTENT REGULATION AND LEGISLATION GLOBALLY. WORKING IN CLOSE COORDINATION WITH SIFMAS GLOBAL AFFILIATE, THE GLOBAL FINANCIAL MARKETS ASSOCIATION (GFMA), SIFMA ADVOCATES FOR CONSISTENT AND COORDINATED REGULATION GLOBALLY RANGING FROM, FOR EXAMPLE, PRUDENTIAL REQUIREMENTS AND THE REGULATION OF OTC DERIVATIVES TO THE FACILITATION OF CROSS-BORDER IMPLEMENTATION OF MIFID II'S RESEARCH PROVISIONS. SIFMA ALSO BELIEVES FREE- AND FAIR-TRADE AGREEMENTS PROMOTE U.S. ECONOMIC GROWTH AND JOB CREATION BY EXPANDING OPPORTUNITIES FOR FINANCIAL SERVICES FIRMS TO COMPETE IN OVERSEAS MARKETS AND BETTER SERVE THEIR CLIENTS. TRADE AGREEMENTS ARE MOST BENEFICIAL TO THE REAL ECONOMY WHEN THEY ARE COMPREHENSIVE, SO SIFMA CONTINUES TO WORK WITH POLICYMAKERS TO ENSURE FINANCIAL SERVICES ARE FULLY INCLUDED IN THEM. WE STRONGLY SUPPORT A MODERNIZED NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA); CONTINUE TO ADVOCATE FOR A LEVEL PLAYING FIELD BETWEEN DOMESTIC AND FOREIGN FINANCIAL SERVICES FIRMS IN CHINA; AND COORDINATE CLOSELY WITH GFMA TO HELP THE UK AND EU TO DELIVER BREXIT IN A WAY THAT PROTECTS GLOBAL FINANCIAL STABILITY. SHORTENED SETTLEMENT CYCLE FOLLOWING A MULTI-YEAR BROAD-BASED INDUSTRY INITIATIVE, ON SEPTEMBER 5, 2017 THE FINANCIAL SERVICES INDUSTRY SUCCESSFULLY TRANSITIONED TO A SHORTENED STANDARD SETTLEMENT TIME FRAME OF TRADE DATE PLUS TWO DAYS (T+2) FOR IN-SCOPE SECURITIES. A FUNDAMENTAL CHANGE TO SETTLEMENT PRACTICES AND THE MOST SIGNIFICANT OPERATION CHANGE IN TWO DECADES, THE NEW TWO-DAY SETTLEMENT CYCLE REDUCES RISK AND ENHANCES U.S. MARKET STRUCTURE WHILE IMPROVING MARKET SAFETY AND PROVIDING EFFICIENCY FOR INVESTORS. |
| PART III, LINE 4C | STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS: PROGRAM SERVICES CONTINUED IN 2017, SIFMA DELIVERED MORE THAN 100 IN-PERSON AND VIRTUAL PROGRAMS FOR NEARLY 17,000 INDUSTRY PROFESSIONALS. IN ADDITION, COUNTLESS ROUNDTABLES AND WORKSHOPS PROVIDED THOUGHT LEADERSHIP, CRITICAL INDUSTRY AND POLICY ANALYSIS, CONTINUING EDUCATION AND PROFESSIONAL DEVELOPMENT. SIFMA ANNUAL MEETING AT SIFMAS ANNUAL MEETING, FINANCIAL MARKET PROFESSIONALS GATHERED WITH POLICYMAKERS AND REGULATORS TO EXPLORE HOW TODAYS BUSINESS AND REGULATORY ENVIRONMENT IS IMPACTING THE ABILITY OF THE CAPITAL MARKETS TO SPUR ECONOMIC GROWTH. SIFMA COMPLIANCE & LEGAL SOCIETY ANNUAL SEMINAR SIFMAS C&L ANNUAL SEMINAR GATHERED ALMOST 2,000 COMPLIANCE AND LEGAL PROFESSIONALS AND REGULATORS, INCLUDING MORE THAN 65 BREAKOUT SESSIONS FROM MORE THAN 100 ORGANIZATIONS. THESE EXPERTS COVERED BOTH CORE AND EMERGING TOPICS, AND PROVIDED AN OPPORTUNITY FOR INDUSTRY PROFESSIONALS AND REGULATORS ALIKE TO SHARE THEIR RESPECTIVE EXPERTISE AND INSIGHT WITH THE GOAL OF PRESERVING OUR CAPITAL MARKETS AS THE MOST FAIR, TRANSPARENT AND ETHICAL IN THE WORLD. PRIVATE CLIENT CONFERENCE SIFMAS ANNUAL PRIVATE CLIENT CONFERENCE HAS SERVED AS NORTH AMERICAS LEADING EVENT FOR FINANCIAL PROFESSIONALS WHO SERVICE THE INDIVIDUAL INVESTOR. THE EVENT BRINGS TOGETHER THE TOP INDUSTRY LEADERS TO DISCUSS RELEVANT AND PRESSING TOPICS AFFECTING OUR INDUSTRY TODAY, WHILE DELIVERING PRACTICAL STRATEGIES TO ENHANCE THE CLIENT EXPERIENCE, HELP ADVISORS SUCCEED, AND OPERATE MORE EFFECTIVELY. OPERATIONS CONFERENCE & EXHIBITION THE TRUSTED RESOURCE FOR BROKER-DEALERS AND ASSET MANAGERS ON THE EVOLUTION OF OPERATIONS AND REGULATION SINCE 1973, THE ANNUAL OPERATIONS CONFERENCE & EXHIBITION GATHERED INDUSTRY LEADERS TO DISCUSS INSIGHTS AND STRATEGIES ADDRESSING INDUSTRY CHALLENGES INCLUDING THE DEPARTMENT OF LABORS FIDUCIARY RULE, T+2 IMPLEMENTATION, REGULATORY CHANGES, OPERATIONAL RISK, CYBERSECURITY, BLOCKCHAIN, THE CONSOLIDATED AUDIT TRAIL AND MORE. THE SECURITIES INDUSTRY INSTITUTE THE SECURITIES INDUSTRY INSTITUTE (R)(SII) IS AN EXECUTIVE EDUCATION PROGRAM UNIQUELY TAILORED TO FINANCIAL SERVICES PROFESSIONALS, DELIVERED THROUGH SIFMAS PARTNERSHIP WITH THE WHARTON SCHOOL OF BUSINESS AT THE UNIVERSITY OF PENNSYLVANIA. HELD ON THE WHARTON CAMPUS, PARTICIPANTS MEET FOR ONE WEEK EACH MARCH TO COMPLETE REQUIRED COURSEWORK OVER THREE CONSECUTIVE YEARS. HIGH-PERFORMANCE TALENT IS NURTURED WITH FORWARD-THINKING, RELEVANT CURRICULUM THAT DELIVERS LONG-TERM IMPACT; THE HIGHEST STANDARDS OF INTEGRITY, ETHICS AND PROFESSIONAL EXCELLENCE; AND TREMENDOUS NETWORKING OPPORTUNITIES. GRADUATES OF SII HAVE ADVANCED TO INCREASINGLY HIGHER LEVELS OF MANAGEMENT AND LEADERSHIP WITHIN THEIR FIRMS AND THE INDUSTRY. |
| PART III, LINE 4D | STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS: OTHER PROGRAM SERVICES CONTINUED SERVING AS A SOURCE OF MARKET INFORMATION, INCLUDING STATISTICS ON MANY FACETS OF THE MARKET PLACE AND PUBLISHING RESEARCH REPORTS, TRADE NEWSLETTERS AND OTHER PERIODICALS AND BOOKS. |
| PART VI, SECTION A, LINE 6 | MEMBERS SIFMA IS A MEMBERSHIP ORGANIZATION WITH THE FOLLOWING CLASSES OF MEMBERSHIP: BROKER-DEALER MEMBERS AND ASSET MANAGER MEMBERS EACH BROKER-DEALER MEMBER AND ASSET MANAGER MEMBER SHALL BE ENTITLED TO VOTE WITH RESPECT TO THE ELECTION OF DIRECTORS AND OTHER MATTERS AS MAY BE SUBMITTED AT ANY ANNUAL OR OTHER MEETING OF MEMBERS ENTITLED TO VOTE. ASSOCIATE MEMBERS ASSOCIATE MEMBERS SHALL NOT BE ENTITLED TO VOTE WITH RESPECT TO THE ELECTION OF DIRECTORS AND OTHER MATTERS AS MAY BE SUBMITTED AT ANY ANNUAL OR OTHER MEETING OF MEMBERS ENTITLED TO VOTE, AND SHALL NOT BE ELIGIBLE TO SERVE AS DIRECTORS OF THE ASSOCIATION. |
| PART VI, SECTION B, LINE 11A | FORM 990 REVIEW PROCESS THE ACCOUNTING DEPARTMENT OF THE ORGANIZATION PREPARES THE FORM 990 BASED ON AUDITED FINANCIAL INFORMATION. THE DRAFT FORM 990 IS THEN REVIEWED BY MANAGEMENT AND AN EXTERNAL INDEPENDENT ACCOUNTING FIRM. THE AUDIT AND FINANCE COMMITTEE WILL REVIEW THE FINAL DRAFT SIGNED OFF BY THE EXTERNAL INDEPENDENT TAX ACCOUNTANT. THIS REVIEW WILL BE NOTED AS AN AGENDA ITEM AT AN AUDIT AND FINANCE COMMITTEE MEETING AND WILL BE DULY NOTED IN THE MINUTES. THE FORM 990 WILL BE PROVIDED TO ALL VOTING MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO SUBMISSION TO THE IRS. |
| PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT ANY EMPLOYEE IN A POSITION WHERE HIS OR HER OBJECTIVITY MAY BE QUESTIONED BECAUSE OF AN INDIVIDUAL INTEREST OR FAMILY OR PERSONAL RELATIONSHIP IS REQUIRED TO NOTIFY THE GENERAL COUNSEL. SIMILARLY, ANY EMPLOYEE AWARE OF ANY TRANSACTION OR RELATIONSHIP THAT COULD REASONABLY BE EXPECTED TO GIVE RISE TO A PERSONAL CONFLICT OF INTEREST IS REQUIRED TO DISCUSS THE MATTER PROMPTLY WITH THE GENERAL COUNSEL. IN ADDITION, ONCE EVERY YEAR, DIRECTORS, OFFICERS, KEY EMPLOYEES, AND ALL THE EMPLOYEES OF SIFMA ARE REQUIRED TO REVIEW A COPY OF THE CONFLICT OF INTEREST POLICY AND TO ACKNOWLEDGE IN WRITING THAT HE OR SHE IS COMPLIANT. |
| PART VI, SECTION B, LINE 15 | PROCESS FOR DETERMINING COMPENSATION THE EXECUTIVE COMMITTEE AND THE BOARD ACTING AS COMPENSATION COMMITTEE HIRE CONSULTANTS TO REVIEW COMPARABLE PACKAGES FOR ANY NEW INCOMING CEO AND OFFICERS. THE CONSULTANT PRESENTS DATA FOR COMPARABLE POSITIONS BOTH LOCALLY AND NATIONALLY AND THE BOARD'S EXECUTIVE COMMITTEE MAKES THE FINAL DECISION FOR THE SALARY PACKAGE. CURRENTLY, THE CEO HAS AN EMPLOYMENT CONTRACT WHICH WAS APPROVED BY THE EXECUTIVE COMMITTEE AND THE BOARD, GOVERNING ANNUAL SALARY INCREASE AND ANY BONUS PAYMENTS. FOR THE REMAINING SENIOR OFFICERS, THE ANNUAL SALARY INCREASE AND BONUS PAYMENTS ARE DETERMINED BY THE ANNUAL EVALUATION PROCESS WHICH MUST BE APPROVED BY THE BOARD'S COMPENSATION COMMITTEE. |
| PART VI, SECTION C, LINE 19 | AVAILABILITY OF DOCUMENTS ANY REQUEST FOR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS WILL BE PROVIDED UPON REQUEST AT MANAGEMENT'S DISCRETION. |
| PART XI, LINE 9 | RECONCILIATION OF NET ASSETS POSTRETIREMENT-RELATED CHANGES OTHER THAN NET PERIODIC POSTRETIREMENT BENEFIT COST ($586,283) MEMBERSHIP DUES RESERVE $23,000 ---------- TOTAL OTHER CHANGES: ($563,283) ========== |