MUNICIPAL SECURITIES RULEMAKING BOARD: Form 990, tax year 2016
View the entire original 990 at ProPublica ↗
- Organization
- MUNICIPAL SECURITIES RULEMAKING BOARD (EIN 52-1042433)
- Tax period
- 2016-10-01 to 2017-09-30
- Filed
- 2018-01-30
- IRS object ID
- 201800309349300920
- 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 | 2018-01-30T10:48:34-05:00 | ReturnTs |
| Tax Period End | 2017-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PricewaterhouseCoopers LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 600 13TH ST NW | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2016-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521042433 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MUNICIPAL SECURITIES RULEMAKING BOARD | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of | % Bonnie Moynihan | InCareOfNm |
| Business Name Control | MUNI | BusinessNameControlTxt |
| Phone | 2028381500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1300 I Street NW Suite STE 1000 | AddressLine1Txt |
| City | Washington | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LYNETTE KELLY | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Signature | 2018-01-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | TRAVIS L PATTON | PreparerPersonNm |
| PTIN | P00369623 | PTIN |
| Phone | 2024141000 | PhoneNum |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 155.201.188.33 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Federal Original Submission Id | 52580220180305000000 | FederalOriginalSubmissionId |
| Federal Original Submission Id | 2018-01-30 | FederalOriginalSubmissionIdDt |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | 0F88DFED7540E0115A284F5DEC2A5C89A8D4765E | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | 0F88DFED7540E0115A284F5DEC2A5C89A8D4765E | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2016 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Lynnette Kelly | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | SAME AS C ABOVE | AddressLine1Txt |
| City | Washington | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $41,318,901 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.MSRB.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1975 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | MSRB's mission is to promote a fair and efficient municipal securities market. | ActivityOrMissionDesc |
| Voting Members Governing Body | 21 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 21 | VotingMembersIndependentCnt |
| Total Employee | 142 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| PY Contributions Grants | $31,011,375 | PYContributionsGrantsAmt |
| CY Contributions Grants | $36,751,638 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,809,759 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,900,218 | CYProgramServiceRevenueAmt |
| PY Investment Income | $513,134 | PYInvestmentIncomeAmt |
| CY Investment Income | $667,045 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $35,334,268 | PYTotalRevenueAmt |
| CY Total Revenue | $41,318,901 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $19,490,795 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $20,320,122 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $16,096,375 | PYOtherExpensesAmt |
| CY Other Expenses | $15,513,449 | CYOtherExpensesAmt |
| PY Total Expenses | $35,587,170 | PYTotalExpensesAmt |
| CY Total Expenses | $35,833,571 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$252,902 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $5,485,330 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $79,547,955 | TotalAssetsBOYAmt |
| Total Assets EOY | $84,511,116 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $10,233,151 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $10,074,504 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $69,314,804 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $74,436,612 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | See Schedule O | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | Establishing regulations and supporting guidance for municipal advisors and dealers: See Schedule O | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Collecting and disseminating market information: See Schedule O | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Engaging in education, outreach and market leadership: See Schedule O | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (true) | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 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 | 106 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 142 | 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 |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 21 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 21 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Bonnie Moynihan | PersonNm |
| Phone | 2028381500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1300 I STREET NW SUITE 1000 | AddressLine1Txt |
| City | Washington | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (42 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| Colleen Woodell | ||||||||||
| Director, Board Chair | 6.0 | 0.0 | Yes (X) | Yes (X) | $65,000 | $0 | $0 | |||
| Arthur M Miller | ||||||||||
| Director, Board Vice Chair | 4.0 | 0.0 | Yes (X) | Yes (X) | $51,550 | $0 | $0 | |||
| Steve Apfelbacher | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $46,550 | $0 | $0 | ||||
| J Anthony Beard | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $12,350 | $0 | $0 | ||||
| Renee Boicourt | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $45,300 | $0 | $0 | ||||
| Robert C Brown | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $12,050 | $0 | $0 | ||||
| Julia H Cooper | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $12,350 | $0 | $0 | ||||
| Ronald Dieckman | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $45,000 | $0 | $0 | ||||
| Richard K Ellis | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $45,300 | $0 | $0 | ||||
| Jerry W Ford | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $11,550 | $0 | $0 | ||||
| Dall Forsythe | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $48,750 | $0 | $0 | ||||
| Richard Froehlich | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $45,300 | $0 | $0 | ||||
| Gary Hall | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $45,300 | $0 | $0 | ||||
| Lucy Hooper | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $46,250 | $0 | $0 | ||||
| Mark Kim | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $46,550 | $0 | $0 | ||||
| Lakshmi Kommi | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $33,750 | $0 | $0 | ||||
| Kemp J Lewis | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $12,350 | $0 | $0 | ||||
| Christopher M Ryon | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $45,000 | $0 | $0 | ||||
| Rita Sallis | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $46,550 | $0 | $0 | ||||
| Edward J Sisk | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $11,250 | $0 | $0 | ||||
| Patrick Sweeney | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $45,300 | $0 | $0 | ||||
| Dale Turnipseed | ||||||||||
| Director | 4.0 | 0.0 | Yes (X) | $45,300 | $0 | $0 | ||||
| Lynnette Kelly | ||||||||||
| Executive Director | 40.0 | 0.0 | Yes (X) | $878,305 | $0 | $170,516 | ||||
| Elizabeth A Wolfe | ||||||||||
| Treasurer, CFO and CRO | 40.0 | 0.0 | Yes (X) | $428,680 | $0 | $43,903 | ||||
| Nanette D Lawson | ||||||||||
| Treasurer and CFO | 40.0 | 0.0 | Yes (X) | $186,119 | $0 | $52,552 | ||||
| Ronald W Smith | ||||||||||
| Corporate Secretary | 40.0 | 0.0 | Yes (X) | $210,302 | $0 | $32,982 | ||||
| Sara Majroh | ||||||||||
| Assistant Corporate Secretary | 40.0 | 0.0 | Yes (X) | $144,566 | $0 | $23,690 | ||||
| Amytis G Ramos | ||||||||||
| Assistant Corporate Secretary | 40.0 | 0.0 | Yes (X) | $99,758 | $0 | $45,151 | ||||
| Mallory Bucher | ||||||||||
| Assistant Corporate Secretary | 40.0 | 0.0 | Yes (X) | $95,407 | $0 | $17,528 | ||||
| Robert Fippinger | ||||||||||
| Chief Legal Officer | 40.0 | 0.0 | $673,222 | $0 | $42,074 | Yes (X) | ||||
| John A Bagley | ||||||||||
| Chief Market Structure Officer | 40.0 | 0.0 | $470,800 | $0 | $54,427 | Yes (X) | ||||
| Alan Morisato | ||||||||||
| Chief Ops and Tech Officer | 40.0 | 0.0 | $488,974 | $0 | $30,029 | Yes (X) | ||||
| Michael Post | ||||||||||
| General Counsel | 40.0 | 0.0 | $460,228 | $0 | $31,058 | Yes (X) | ||||
| Ritta McLaughlin | ||||||||||
| Chief Education Officer | 40.0 | 0.0 | $364,242 | $0 | $39,130 | Yes (X) | ||||
| Gail Marshall | ||||||||||
| Chief Compliance Officer | 40.0 | 0.0 | $286,764 | $0 | $44,414 | Yes (X) | ||||
| Jennifer A Galloway | ||||||||||
| Chief Communications Officer | 40.0 | 0.0 | $275,634 | $0 | $37,339 | Yes (X) | ||||
| Margaret Blake | ||||||||||
| Associate General Counsel | 40.0 | 0.0 | $246,163 | $0 | $53,653 | Yes (X) | ||||
| Robert P Cochran | ||||||||||
| Former Director | 0.0 | 0.0 | $33,750 | $0 | $0 | Yes (X) | ||||
| Marcy Edwards | ||||||||||
| Former Director | 0.0 | 0.0 | $30,183 | $0 | $0 | Yes (X) | ||||
| James D McKinney | ||||||||||
| Former Director | 0.0 | 0.0 | $33,750 | $0 | $0 | Yes (X) | ||||
| Nathaniel Singer | ||||||||||
| Former Director, Board Chair | 0.0 | 0.0 | $60,000 | $0 | $0 | Yes (X) | ||||
| Brian L Wynne | ||||||||||
| Former Director | 0.0 | 0.0 | $37,500 | $0 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $6,322,997 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $718,446 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 53 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (true) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| CC Pace Systems Inc | |||||
| 4100 Monument Corner Drive Suite 4 | FAIRFAX | VA | 22030 | Software Development | $1,594,610 |
| Sidley Austin LLP | |||||
| 1501 K Street | WASHINGTON | DC | 20005 | Legal Representation | $328,811 |
| Sutherland Global Services | |||||
| 1160 Pittsford-Victor Rd | PITTSFORD | NY | 14534 | Call Center | $310,240 |
| Summit Consulting LLC | |||||
| 601 New Jersey Ave NW Suite 400 | WASHINGTON | DC | 20001 | Economic Consulting | $279,293 |
| LogicBoost Inc | |||||
| 1904 Vermont Ave Apt B | WASHINGTON | DC | 20001 | Software Development | $236,080 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 12 | CntrctRcvdGreaterThan100KCnt |
| Membership Dues | $36,751,638 | MembershipDuesAmt |
| Total Contributions | $36,751,638 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| DATA SUBSCRIPTIONS | 900099 | $1,882,413 | $1,882,413 |
| VIOLATION FINE REVENUE | 900099 | $994,738 | $994,738 |
| PROFESSIONAL QUALIFICATION EXAM FEES | 900099 | $623,700 | $623,700 |
| MUNIEDPRO | 900099 | $8,463 | $8,463 |
| OTHER INCOME | 900099 | $390,904 | $390,904 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,900,218 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $667,045 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $667,045 | RelatedOrExemptFuncIncomeAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $0 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gaming Gross Income | $0 | GamingGrossIncomeAmt |
| Gaming Direct Expenses | $0 | GamingDirectExpensesAmt |
Net Income From Gaming NetIncomeFromGamingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $0 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $0 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $0 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $41,318,901 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,567,263 | RelatedOrExemptFuncIncomeAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,641,665 | 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 | $11,560,806 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $834,998 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,355,675 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $926,978 | 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 | $784,088 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $218,175 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,275 | TotalAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,270,338 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $476,249 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,139,473 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,859,911 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $547,857 | 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 | $346,711 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,133,849 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $252,573 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| DATA AND INFORMATION SERVICES | $1,379,368 |
| DUES, REGISTRATIONS, TRAINING | $230,947 |
| PROPERTY AND OTHER TAXES | $433,165 |
| BAD DEBT EXPENSE | $105,255 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $331,215 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,833,571 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $631,066 | BOYAmt |
| EOY | $457,097 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,121,200 | BOYAmt |
| EOY | $1,407,245 | 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 | $6,077,791 | BOYAmt |
| EOY | $5,868,984 | 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 | $1,026,330 | BOYAmt |
| EOY | $1,460,666 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $45,803,725 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $32,290,344 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,574,094 | BOYAmt |
| EOY | $13,513,381 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $56,117,474 | BOYAmt |
| EOY | $61,803,743 | 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 | $79,547,955 | BOYAmt |
| EOY | $84,511,116 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,941,300 | BOYAmt |
| EOY | $2,642,899 | 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 | $278,210 | BOYAmt |
| EOY | $250,648 | 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 | $6,013,641 | BOYAmt |
| EOY | $7,180,957 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,233,151 | BOYAmt |
| EOY | $10,074,504 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $69,314,804 | BOYAmt |
| EOY | $74,436,612 | 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 | $69,314,804 | BOYAmt |
| EOY | $74,436,612 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $79,547,955 | BOYAmt |
| EOY | $84,511,116 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $5,485,330 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$363,522 | NetUnrlzdGainsLossesInvstAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grassroots Lobbying | TotalGrassrootsLobbyingGrp | |
| Total Direct Lobbying | TotalDirectLobbyingGrp | |
| Total Lobbying Expend | TotalLobbyingExpendGrp | |
| Other Exempt Purpose Expend | OtherExemptPurposeExpendGrp | |
| Total Exempt Purpose Expend | TotalExemptPurposeExpendGrp | |
| Lobbying Nontaxable Amount | LobbyingNontaxableAmountGrp | |
| Grassroots Nontaxable | GrassrootsNontaxableGrp | |
| Tot Lbbyng Grassroot Mns Non Tx | TotLbbyngGrassrootMnsNonTxGrp | |
| Tot Lbby Expend Mns Lbbyng Non Tx | TotLbbyExpendMnsLbbyngNonTxGrp | |
| Substantially All Dues Nonded | false | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | false | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | false | AgreeCarryoverPriorYearInd |
| Dues Assessments | $36,751,638 | DuesAssessmentsAmt |
| Non Deductible Lbbyng Pltcl CY | $28,755 | NonDeductibleLbbyngPltclCYAmt |
| Non Deductible Lbbyng Pltcl Tot | $28,755 | NonDeductibleLbbyngPltclTotAmt |
| Taxable | $28,755 | TaxableAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amounts | ArtPublicExhibitionAmountsGrp | |
| Held Works Art | HeldWorksArtGrp | |
| CY Minus3 Yr Endwmt Fund | CYMinus3YrEndwmtFundGrp | |
| CY Minus4 Yr Endwmt Fund | CYMinus4YrEndwmtFundGrp | |
| Land | LandGrp | |
| Buildings | BuildingsGrp |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,040,651 | OtherCostOrOtherBasisAmt |
| Depreciation | $567,601 | DepreciationAmt |
| Book Value | $3,473,050 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,009,614 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,593,878 | DepreciationAmt |
| Book Value | $1,415,736 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $36,753,460 | OtherCostOrOtherBasisAmt |
| Depreciation | $28,128,865 | DepreciationAmt |
| Book Value | $8,624,595 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $13,513,381 | TotalBookValueLandBuildingsAmt |
| Federal Income Tax Liability | $0 | FederalIncomeTaxLiabilityAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| Deferred Rent | $6,910,709 |
| DEFERRED COMPENSATION | $270,248 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $7,180,957 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $40,955,379 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$363,522 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | -$363,522 | RevenueNotReportedAmt |
| Revenue Subtotal | $41,318,901 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $41,318,901 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $35,833,571 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $35,833,571 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $35,833,571 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | TEXT OF FIN 48 (ASC 740) FOOTNOTE- FORM 990, SCHEDULE D, PART X, LINE 2 | FormAndLineReferenceDesc |
| Explanation | The MSRB addresses uncertain tax positions in accordance with ASC Topic 740, Income Taxes, which provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in financial statements. During the years from 2014 to 2017, which represent the years management considers to be open for examination by taxing authorities, management did not identify the existence of any uncertain tax position. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (true) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (true) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (true) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (18 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Robert P Cochran | |||||||||||||
| Former Director | $33,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $33,750 | $0 | $0 |
| Marcy Edwards | |||||||||||||
| Former Director | $30,183 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $30,183 | $0 | $0 |
| James D McKinney | |||||||||||||
| Former Director | $33,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $33,750 | $0 | $0 |
| Nathaniel Singer | |||||||||||||
| Former Director, Board Chair | $60,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $60,000 | $0 | $0 |
| Brian L Wynne | |||||||||||||
| Former Director | $37,500 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $37,500 | $0 | $0 |
| Lynnette Kelly | |||||||||||||
| Executive Director | $710,294 | $0 | $141,480 | $0 | $26,531 | $0 | $150,072 | $0 | $20,444 | $0 | $1,048,821 | $0 | $0 |
| Elizabeth A Wolfe | |||||||||||||
| Treasurer, CFO and CRO | $371,180 | $0 | $57,500 | $0 | $0 | $0 | $21,200 | $0 | $22,703 | $0 | $472,583 | $0 | $0 |
| Nanette D Lawson | |||||||||||||
| Treasurer and CFO | $175,119 | $0 | $11,000 | $0 | $0 | $0 | $13,940 | $0 | $38,612 | $0 | $238,671 | $0 | $0 |
| Ronald W Smith | |||||||||||||
| Corporate Secretary | $202,302 | $0 | $8,000 | $0 | $0 | $0 | $18,930 | $0 | $14,052 | $0 | $243,284 | $0 | $0 |
| Sara Majroh | |||||||||||||
| Assistant Corporate Secretary | $134,066 | $0 | $10,500 | $0 | $0 | $0 | $13,159 | $0 | $10,531 | $0 | $168,256 | $0 | $0 |
| Robert Fippinger | |||||||||||||
| Chief Legal Officer | $593,222 | $0 | $80,000 | $0 | $0 | $0 | $18,550 | $0 | $23,524 | $0 | $715,296 | $0 | $0 |
| John A Bagley | |||||||||||||
| Chief Market Structure Officer | $409,300 | $0 | $61,500 | $0 | $0 | $0 | $18,550 | $0 | $35,877 | $0 | $525,227 | $0 | $0 |
| Alan Morisato | |||||||||||||
| Chief Ops and Tech Officer | $381,474 | $0 | $57,500 | $0 | $50,000 | $0 | $23,850 | $0 | $6,179 | $0 | $519,003 | $0 | $0 |
| Michael Post | |||||||||||||
| General Counsel | $382,428 | $0 | $47,800 | $0 | $30,000 | $0 | $18,550 | $0 | $12,508 | $0 | $491,286 | $0 | $0 |
| Ritta McLaughlin | |||||||||||||
| Chief Education Officer | $309,842 | $0 | $54,400 | $0 | $0 | $0 | $21,290 | $0 | $17,840 | $0 | $403,372 | $0 | $0 |
| Gail Marshall | |||||||||||||
| Chief Compliance Officer | $268,764 | $0 | $18,000 | $0 | $0 | $0 | $20,162 | $0 | $24,252 | $0 | $331,178 | $0 | $0 |
| Jennifer A Galloway | |||||||||||||
| Chief Communications Officer | $256,884 | $0 | $18,750 | $0 | $0 | $0 | $23,568 | $0 | $13,771 | $0 | $312,973 | $0 | $0 |
| Margaret Blake | |||||||||||||
| Associate General Counsel | $243,163 | $0 | $3,000 | $0 | $0 | $0 | $17,710 | $0 | $35,943 | $0 | $299,816 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| ADDITIONAL BENEFITS PROVIDED- FORM 990, SCHEDULE J, PART I, LINE 1A | The MSRB reimburses Board Members and the Executive Director for the cost of coach class air travel for flights of 3 hours or less in total one-way trip duration. For air travel more than 3 hours in total one-way trip duration, the MSRB reimburses Board Members and the Executive Director for the use of business class when available, or if only two classes of service are offered, first class. Board Members and the Executive Director are reimbursed the costs of business class rail fares. The MSRB has determined this meets the business requirement standard for not treating the benefit as compensatory on the Form W-2 or 1099. Gross-up payments are provided to the Executive Director for a taxable supplemental life insurance policy and long-term disability coverage. |
| NON-QUALIFIED RETIREMENT PLAN - FORM 990, SCHEDULE J, PART I, LINE 4 | Lynnette Kelly, Executive Director, participated in a 457(f) supplemental nonqualified retirement plan. A contribution of $126,222 was made. |
| Part VII-A and schedule J - FY 2017 CFO Position | Elizabeth Wolfe served as CFO and Treasurer until April 1, 2017; Nanette Lawson served as Deputy CFO and Assistant Treasurer until April 1, 2017 and assumed the CFO and Treasurer role on April 1, 2017. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION'S MISSION | The mission of the MSRB is to protect investors, state and local government issuers, other municipal entities, and the public interest by promoting a fair and efficient municipal market through: 1. The establishment of rules for dealers and municipal advisors, 2. The collection and dissemination of market information, and 3. Market leadership, outreach and education. |
| FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS | Establishing regulations and supporting guidance for municipal advisors and dealers: The MSRB was created by Congress to regulate securities firms, banks and municipal advisors that engage in municipal securities and municipal advisory activities (collectively "regulated entities") with the goal of protecting investors, municipal entities, obligated persons and the public interest. MSRB rules seek to prevent manipulation and fraud in the municipal market, promote fair and efficient transactions, and support a free and open market in municipal securities and municipal financial products. MSRB rules generally are developed with extensive input from the public and the municipal securities industry, with an economic analysis to enhance the effectiveness and efficiency of the MSRBs rulemaking, and to meet the approval standards of the Securities and Exchange Commission (SEC). Once developed, all MSRB rules must be approved by the SEC prior to effectiveness, unless otherwise allowed by law. The MSRB also provides ongoing education, training and compliance support to ensure understanding by and compliance with MSRB rules by regulated entities, and operates programs that support the qualification of professionals employed by regulated entities. The MSRB does not enforce its rules but follows established procedures for coordinating cooperatively with enforcement agencies charged with enforcing MSRB rules. Information regarding the MSRB's rules, rulemaking--including rule interpretations, requests for comment, notices to regulated entities, rule filings submitted to the SEC and compliance resources developed in conjunction with new rules or to clarify the application of existing rules--is displayed on the MSRB's corporate website, at www.msrb.org. Regulatory, professional qualification and compliance activities during FY 2017 include: Municipal Advisor-Related Activity Rules Approved - Continuing education requirements for municipal advisors (MSRB Rules G-3 and G-8) - Investor and municipal advisory client education and protection and related recordkeeping rules (MSRB Rule G-8, G-9, and G-10) Rules Advanced - Published request for comment on a draft new rule on advertising standards for municipal advisors (MSRB Draft Rule G-40) Guidance Published - Publication of guidance comprehensively summarizing the regulatory framework for municipal advisors and addressing how the framework applies to solicitor municipal advisors, who solicit municipal entities and obligated persons for business on behalf of certain other financial professionals - Publication of guidance addressing the applicability of Rule G-42, on municipal advisor standards of conduct, to several scenarios that may arise in connection with the issuance of municipal securities for a conduit borrower - Publication of guidance regarding the electronic delivery and receipt of information by municipal advisors under Rule G-32, on disclosures in connection with primary offerings Other Activity - Engaged in a year-long outreach effort to promote understanding of and compliance with the September 12, 2017 deadline for the Municipal Advisor Representative Qualification Exam (Series 50). Throughout this engagement, the MSRB provided resources and assistance to firms and individuals preparing to take the exam, including educational webinars and answers to frequently asked questions - Published Compliance Advisory for Municipal Advisors - Published FAQs on MSRB Rules on Investor and Municipal Advisory Client Education and Protection Dealer-Related Activity Rules Approved - Modernization of customer complaint and related recordkeeping rules for municipal securities dealers (MSRB Rule G-8, G-9, G-10 and G-32) - Amendments to MSRB Rule G-26, on customer account transfers, to modernize the rule and promote a uniform customer account transfer standard for all brokers, dealers, municipal securities brokers and municipal securities dealers - Amendments to MSRB Rule G-15 and G-30 requiring dealers to disclose additional information on retail customer confirmations for a specified class of principal transactions, including the dealers mark-up or mark-down as determined from the prevailing market price of the security - Amendments to provisions related to municipal fund security product advertisements (Rule G-21) Rules Advanced - Publication of two requests for comment on draft amendments to and clarifications of MSRB Rule G-34, on obtaining CUSIP Numbers - Publication of request for comment on draft amendments to MSRB Form G-45 under Rule G-45, on reporting of information on municipal fund securities - Publication of a request for comment on a concept proposal on primary offering practices (Rules G-11 and G-32) Guidance - Provided implementation guidance to facilitate compliance with amendments to MSRB Rule G-15 requiring dealers to disclose additional information on retail customer confirmations for a specified class of principal transactions, including the dealers mark-up or mark-down as determined from the prevailing market price of the security - Publication of Compliance Advisory for Municipal Securities Dealers - Issued interpretive notice on the application of MSRB rules to transactions in managed accounts - Guidance on application of MSRB investor protection rules to Achieving a Better Life Experience (ABLE) programs - Published 2016 compliance advisory for dealers Administrative Activity Rules Adopted - Amendment to MSRB Rule A-13 on underwriting and transaction assessments for brokers, dealers and municipal securities dealers, to assess an underwriting fee on dealers that are underwriters of primary offerings of plans as defined under Rule G-45, at an annual assessment of $0.005 per $1,000 par in total aggregate assets, effective in FY 2018 - Amendment to MSRB Rule A-11 on assessments for municipal advisor professionals, to modify the fee charged from $300 to $500, effective in FY 2018 |
| FORM 990, PART III, LINE 4B, PROGRAM SERVICE ACCOMPLISHMENTS | Collecting and disseminating market information: The MSRB collects municipal market documents and data from regulated entities, municipal entities, obligated persons and/or their agents and makes the information publicly available. The collection and dissemination of this information serves a critical role in preserving fairness and efficiency of the municipal market. The MSRB ensures that the market operates transparently and efficiently by redisseminating this information to municipal market participants, and to regulators charged with examining for compliance with and enforcing MSRB rules, and other regulatory and policymaking bodies. Under its rulemaking authority, the MSRB has establsihed "information facilities" that provide the legal foundation for the collection and dissemination of municipal market information. These facilities provide the MSRB with the authority to collect municipal transaction prices (with respect to customer and inter-dealer transactions in municipal securities); official statements, preliminary official statements, and advance refunding documents (in connection with new issues of municipal securities); continuing disclosure documents (in connection with outstanding issues of municipal securities); interest rate information and related documentation for certain short-term obligations (in connection with outstanding variable rate demand obligations and auction rate securities); and information regarding business undertaken by, and certain political contributions made by, dealers and municipal advisors or their professionals and certain related political action committees (in connection with the MSRBs pay-to-play rule). The MSRB provides most of this information to the public, free of charge, on its Electronic Municipal Market Access (EMMA) website at emma.msrb.org. In addition, access to most information collected by the MSRB is available to subscribers through paid automated subscription services. As of the end of FY 2017, the MSRB offered five principal data products with approximately 152 active subscription agreements. During FY 2017, the MSRB made enhancements to market information provided on EMMA that includes: - A free new issue calendar listing the municipal bond issues scheduled to come to market and those recently sold that enables individual investors, issuers and other market participants to see the breadth and depth of new bond issues coming to market as well as final pricing information for bond issues sold through competitive and negotiated sales. - Improved EMMA Alerts that allow users to modify their preferences to subscribe to specific types of continuing disclosure filings, such as audited financial statements or bond calls. An improved email design provides more descriptive information about specific securities and the trade activity or newly filed disclosure documents that triggered the alert. - Availability of public access to municipal market yield curves and indices from third-party providers on EMMA. Each market indicator is based on tax-exempt bonds and can be useful for understanding the general level and direction of municipal bond interest rates and comparing the relative yields of specific municipal securities. - Enhanced municipal market statistics on EMMA which include views of the most actively traded securities and most active issuers by par amount or number of trades. The enhanced statistics also provide a state-by-state view of trading in the primary and secondary market. The MSRB made significant progress on a long-term effort to reengineer its Real-Time Transaction Reporting System (RTRS) to prepare for parallel processing during FY 2018. The MSRB facilitated academic research into the municipal market by making its Academic Historical Transaction Data Product, which consists of post-trade municipal securities transaction data including anonymized dealer information, available to academic institutions. The MSRB also makes trade data available through the Wharton Research Data Services (WRDS) platform. Additionally, during FY 2017, the MSRB conducted organizational and industry-wide business continuity testing in compliance with SECs Regulation Systems Compliance and Integrity rules. |
| FORM 990, PART III, LINE 4C, PROGRAM SERVICE ACCOMPLISHMENTS | Engaging in education, outreach and market leadership: The MSRB engages with municipal market participants, regulators and policy makers to build understanding of the municipal market and to promote practices and policies, as well as problem-solving, that protect investors, municipal entities, obligated persons and the public interest. The MSRB also engages in education and outreach activities to support the understanding of the municipal market and to help further protect investors, municipal entities, obligated persons and the public interest. During FY 2017, highlights in this area include: - Increased availability of quality municipal securities market education by adding eight courses to (MuniEdPro), a suite of interactive, online courses about market activities and MSRB rules. Course additions included one free course each for municipal securities investors and issuers, and six courses covering MSRB rules - Supported understanding of MSRB regulations by publishing supporting educational content, and offering 13 webinars on MSRB rules and activities for more than 3,600 participants - Produced educational materials for investors and issuers on topics such as getting a fair price for municipal bonds and how bonds are quoted and priced - Participated in 100 industry events to an audience of approximately 13,000 market participants on topics such as continuing disclosure compliance and what to expect from municipal finance professionals - Hosted the semi-annual MSRB Industry roundtable, as well as a policy roundtable discussion on infrastructure, consistent with the MSRBs role as a facilitator of market-wide discussions about important issues - Conducted Municipal Advisor Summit with municipal advisor firms to support compliance with MSRB rules - Coordinated with SEC, FINRA and bank regulators to deliver examiner training to a total of 565 attendees at various training events - Partnered with Municipal Forum of New York to host Municipal Finance Day in Washington, DC for high school graduates participating in Urban Leadership Fellows Program - Published market advisory and op-ed on issuer's designation of underwriters counsel - Published market advisory and op-ed on the practice of certain municipal securities issuers making selective disclosure of information to certain investors - Published policymaker resource, Municipal Securities: Financing the Nations Infrastructure, and op-ed about the role of municipal securities in infrastructure finance - Published op-ed on the MSRB's approach to keeping its regulations for municipal securities dealers and municipal advisors up-to-date - Published column in the Journal of Government Financial Mangement, the quarterly publication from the Association of Government Accountants, discussing the importance of disclosure by municipal securities issuers - Submitted a comment letter to the Governmental Accounting Standards Board (GASB) in response to the organization's ongoing research and outreach efforts on the topic of disclosure by state and local government bond issuers related to debt, including direct borrowings and direct placements - Submitted a comment letter to the Securities and Exchange Commission on proposed amendments to require issuers and obligated persons to post event notices that would include their incurrence of a material bank loan or direct purchase of municipal securities - Submitted letter to the SEC Office of the Investor Advocate in response to a request for the MSRB's perspective on products and practices within the municipal securities market that may have an adverse impact on retail investors. |
| FAMILY & BUS. RELATIONSHIP - FORM 990, PART VI, SECTION A, LINE 2 | NO OFFICER, DIRECTOR, TRUSTEE, OR KEY EMPLOYEE HAS A FAMILY RELATIONSHIP OR BUSINESS RELATIONSHIP (AS SUCH TERMS ARE DEFINED FOR PURPOSES OF FORM 990) WITH ANY OTHER OFFICER, DIRECTOR, TRUSTEE, OR KEY EMPLOYEE. AS CONTEMPLATED BY THE CONGRESSIONALLY MANDATED STRUCTURE OF THE MSRB'S BOARD OF DIRECTORS (WHICH SERVES AS THE ORGANIZATION'S GOVERNING BODY) AS A SELF-REGULATORY ORGANIZATION UNDER THE FEDERAL SECURITIES LAWS, THE EMPLOYERS OF SOME MEMBERS OF THE BOARD OF DIRECTORS, AND SUCH MEMBERS IN THEIR CAPACITIES AS EMPLOYEES OF THEIR EMPLOYERS, FROM TIME TO TIME TRANSACT BUSINESS WITH ONE ANOTHER IN THE ORDINARY COURSE OF THEIR BUSINESS AS PARTICIPANTS IN THE MUNICIPAL MARKET ON THE SAME TERMS AS ARE GENERALLY OFFERED TO OTHERS IN THE SAME LINE OF BUSINESS. |
| GOVERNING BODY/MANAGEMENT - FORM 990, PART VI, SECTION A, LINE 7B | All proposed rule changes adopted by the Board of Directors of the MSRB are subject to the filing and approval or review requirements by the Securities and Exchange Commission under Section 19(b) of the Securities Exchange Act of 1934. |
| FORM 990 REVIEW PROCESS - FORM 990, PART VI, SECTION B, LINE 11 | The Board of Directors of the MSRB has an Audit Committee that is charged with reviewing with management the organization's completed form annually prior to the filing of such form and reporting any findings or conclusions to the Board of Directors in connection with the Board's review of such form. The Audit Committee and the Board of Directors conducted their review prior to filing the form. |
| CONFLICT OF INTEREST POLICY - FORM 990, PART VI, SECTION B, LINE 12C | The MSRB maintains for its Board of Directors and its staff: a code of ethics and business conduct policy; a conflicts of interest policy; and a whistleblower policy with complaint handling procedures, which are available on msrb.org. All Board members and staff are trained annually on these policies and must sign an acknowledgment. The MSRB has a policy requiring that officers, directors and key employees disclose annually interests that could give rise to conflicts. In connection with the election of new members of the Board of Directors, each candidate provides information to the MSRB concerning potential conflicts of interest. In addition, certain organizational conflicts are effectively prohibited under Section 15B(b) of the Securities Exchange Act of 1934 due to the statutory requirements regarding qualification for membership on the Board of Directors. In particular, public representatives must be independent of any municipal securities broker, municipal securities dealer or municipal advisor. MSRB rule A-3 defines "independent" as having no material business relationship with any municipal securities broker, municipal securities dealer or municipal advisor, including at a minimum not currently or at any time within the last two years being associated with a municipal securities broker, municipal securities dealer or municipal advisor and not having a relationship with any municipal securities broker, municipal securities dealer or municipal advisor, whether compensatory or otherwise, that reasonably could affect the independent judgment or decision making of the individual. The MSRB's Chief Legal Officer or General Counsel reviews the conflicts of interest acknowledgement and disclosure forms and determines what actions, if any, need to be taken, including asking a Board member to recuse him or herself from deliberations or voting on an action. |
| COMPENSATION REVIEW PROCESS - FORM 990, PART VI, SECTION B, LINE 15 | Under the MSRB written compensation strategy and program, the Finance Committee (comprised of members of the Board of Directors) is responsible for making recommendations and the Board of Directors is responsible for approving the organization-wide compensation strategy. The annual salary budget is approved by the Board of Directors. At least once every four years, the compensation strategy and structure are reviewed and approved by the Finance Committee based on information received from an external salary consultant. Such review was completed in July 2016. The external salary consultant compares our organization with comparable peer organizations in our local geographic market and within the industry as appropriate. The full Board approves the compensation of the Executive Director, and the Executive Director establishes the compensation of the key employees within the parameters and philosophy of the approved compensation strategy. Additionally, the Executive Director annually provides to the Board the salary, benefits, and total compensation of the senior management. |
| GOVERNING DOCUMENTS - FORM 990, PART VI, SECTION C, LINE 19 | The organization's website (www.msrb.org) contains the following: Securities Exchange Act Section 15B (statute creating the MSRB), Restated Articles of Incorporation, By-Laws, Governance-Related Administrative Rules, Board Committee Charters, Code of Ethics and Business Conduct, Conflicts of Interest Policy and Disclosure Form, Risk Management Program, Whistleblower Policy, audited financial statements, IRS Form 990 and certain financial policies. |
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