2017-11-13T16:57:43-06:00 2016-12-31 ERNST & YOUNG US LLP 1900 SCRIPPS CENTER 312 WALNUT ST CINCINNATI OH 45202 990 2016-01-01 200863779 FINRA INVESTOR EDUCATION FOUNDATION % JENNIFER P MITCHELL FINR 2027288949 1735 K STREET NW WASHINGTON DC 200061506 ROBERT A RENNER VICE PRESIDENT 2403865303 2017-11-13 true JULIE L SPARKS P01268401 5136121400 108.206.163.59 86597020173175000010 2017-11-13 P F0221F55EBF6EDBC8C96953E88092F7B5405D009 582F47EFACDD6166E52205D1FBFEA2601660FA18 2016 2017-02-10 21:41:12Z GERALDINE M WALSH 1735 K STREET NW WASHINGTON DC 200061506 9344000 false X WWW.FINRAFOUNDATION.ORG X 2004 DE THE MISSION IS TO PROVIDE UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS NECESSARY FOR FINANCIAL SUCCESS THROUGHOUT LIFE. 7 6 0 6 14193 13193 50760645 3737659 0 0 4560247 1072257 0 0 55320892 4809916 3100430 1901708 0 0 0 0 0 0 0 5632704 3884283 8733134 5785991 46587758 -976075 74291756 76240005 253337 363660 74038419 75876345 X THE MISSION IS TO PROVIDE UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS NECESSARY FOR FINANCIAL SUCCESS THROUGHOUT LIFE. false false 2919226 1718697 EXPAND GRASSROOTS CAPACITY FOR FINANCIAL EDUCATION - SEE SCHEDULE O 1199863 50000 PROTECT CONSUMERS FROM FINANCIAL FRAUD - SEE SCHEDULE O 660405 ENSURE MILITARY FINANCIAL READINESS - SEE SCHEDULE O 562535 133011 5342029 false true false false false false false false true false true false false true true true true false false false false false false false false false true false true false false false false false false false false false false false false false true false false true 9 0 true 0 true true false false false false false X 7 6 false false false false true true true true true false false true true true true true true false false false X JENNIFER P MITCHELL 2027288949 1735 K STREET NW WASHINGTON DC 200061506 X ROBERT W COOK CHAIRMAN 1.0 59.0 X 0 348888 93424 RICHARD G KETCHUM CHAIRMAN (thru 8/14/16) 1.0 59.0 X 0 2679262 86547 JAYNE W BARNARD BOARD MEMBER 1.0 0.0 X 0 0 0 CAMILLE M BUSETTE BOARD MEMBER 1.0 0.0 X 0 0 0 T GRANT CALLERY BOARD MEMBER 1.0 0.0 X 0 0 0 JOHN T DOOLEY BOARD MEMBER 1.0 0.0 X 0 0 0 ROBERT W SCULLY BOARD MEMBER (THRU 5/6/16) 1.0 2.0 X 0 40363 0 G DONALD STEEL BOARD MEMBER 1.0 0.0 X 0 0 0 ELISSE B WALTER BOARD MEMBER 3.0 5.0 X 0 87975 0 GERALDINE M WALSH PRESIDENT 48.0 12.0 X 0 697225 64573 EILEEN M FAMIGLIETTI TREASURER 6.0 54.0 X 0 417246 102708 JENNIFER P MITCHELL CORPORATE SECRETARY 3.0 57.0 X 0 276482 78255 MARCIA E ASQUITH FMR CORPORATE SECRETARY 0.0 60.0 X 0 738994 83536 0 5286435 509043 0 true true false AMERICAN LIBRARY ASSOCIATION 50 EAST HURON STREET CHICAGO IL 60611 SEE SCHEDULE O 530000 UNITED WAY WORLDWIDE PO BOX 630568 BALTIMORE MD 21263 SEE SCHEDULE O 432100 APPLIED RESEARCH CONSULTING 30-30 47TH AVENUE LONG ISLAND CITY NY 11101 SEE SCHEDULE O 453901 AARP FOUNDATION 601 EAST STREET NW WASHINGTON DC 20049 SEE SCHEDULE O 230308 ASSOCIATION FOR FINANCIAL COUNSELIN 79 S STATE STREET WESTERVILLE OH 43081 SEE SCHEDULE O 165880 10 3737659 3737659 0 1087403 14193 1073210 0 0 0 0 0 4518938 4534084 -15146 -15146 -15146 0 0 0 0 0 0 0 0 0 0 4809916 14193 1058064 1901708 1901708 0 0 0 0 0 0 0 0 0 2962405 2915405 47000 0 44650 44650 0 0 115214 115214 11681 10751 930 7784 7342 442 137877 77729 60148 126669 101191 25478 0 129229 38490 90739 92473 82000 10473 0 186236 145272 40964 0 0 0 0 PUBLICATIONS/PRINTING 53397 53050 347 MISCELLANEOUS EXPENSE 9041 9041 DUES/MEMBERSHIP FEE 250 50 200 BANK SERVICE FEES 7377 7377 5785991 5342029 443962 0 342845 2772309 0 0 0 0 199650 626600 0 0 0 0 0 0 0 0 261722 50612 0 0 49509293 49728589 23978246 23061895 0 0 0 0 0 0 74291756 76240005 210683 346581 32681 0 0 0 0 0 0 0 0 0 0 0 0 0 9973 17079 253337 363660 X 74038419 75776345 0 100000 0 0 74038419 75876345 74291756 76240005 X -976075 2469887 3328245 115214 -3099345 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 100000 100000 1.00000 false false PRIVATE INVESTMENTS 23061895 F 23061895 0 DUE TO RELATED ORGANIZATION 17079 17079 X 10887892 2469887 3328245 5798132 5089760 -279844 -279844 4809916 9049966 3328245 -64270 3263975 5785991 5785991 SCHEDULE D, PART X, LINE 2 ASC740 FOOTNOTE THE FOUNDATION IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(4)OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, HAS MADE NO PROVISION FOR FEDERAL OR STATE INCOME TAXES. FOR YEARS ENDED DECEMBER 31, 2013 THROUGH DECEMBER 31, 2016, WHICH REPRESENT THE PERIODS MANAGEMENT CONSIDERS TO BE OPEN FOR EXAMINATION BY TAXING AUTHORITIES, MANAGEMENT DID NOT IDENTIFY THE EXISTENCE OF ANY UNCERTAIN TAX POSITIONS. UNRELATED BUSINESS INCOME UNRELATED BUSINESS INCOME ACTIVITIES ARE TAXED AT NORMAL CORPORATE RATES TO THE EXTENT THAT THEY GENERATE TAXABLE NET INCOME. SUCH UNRELATED BUSINESS INCOME MAY BE GENERATED BY CERTAIN ACTIVITIES WITHIN THE FOUNDATION'S LIMITED PARTNERSHIP INVESTMENT. SCHEDULE D, PART XI, LINE 4B THE FOUNDATION AUDITED FINANCIAL REPORT WAS ISSUED PRIOR TO THE RECEIPT OF THE K-1 RELATED TO THEIR PARTNERSHIP INTEREST IN THE HIGHVISTA II LIMITED PARTNERSHIP. ADDITIONAL LOSSES GENERATED WERE REPORTED IN FORM 990, PART VIII, LINE 12 THAT WERE NOT REFLECTED IN THE AUDITED FINANCIAL STATEMENTS AT THE TIME OF ISSUANCE. SCHEDULE D, PART XII, LINE 2D AMOUNTS INCLUDED ON LINE 1 BUT NOT ON FORM 990, PART IX, LINE 25 RELATE TO REFUNDS OF PRIOR YEAR'S UNUSED GRANTS. SCHEDULE D, PART V, LINE 4 THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. (FINRA) CONTRIBUTED A ONE-TIME TEMPORARILY RESTRICTED CONTRIBUTION OF $0.1 MILLION TO THE FOUNDATION. THE TEMPORARILY RESTRICTED CONTRIBUTION FUNDED THE KETCHUM PRIZE FUND, NAMED FOR FORMER FINRA CHAIRMAN AND CHIEF EXECUTIVE OFFICER AND FOUNDATION CHAIRMAN RICHARD G. KETCHUM, TO AWARD AN ANNUAL PRIZE IN HONOR OF EXEMPLARY CONTRIBUTIONS TO THE FIELD OF INVESTOR PROTECTION AND FINANCIAL CAPABILITY IN THE UNITED STATES. THE PRIZE FUND WILL BE USED TO RECOGNIZE OUTSTANDING SERVICE AND RESEARCH TO ADVANCE INVESTOR PROTECTION AND FINANCIAL CAPABILITY IN THE UNITED STATES. THE PRIZE CONSISTS OF NATIONAL RECOGNITION AND $10,000. THE AWARD WILL BE GIVEN EACH YEAR BY THE FINRA FOUNDATION'S BOARD OF DIRECTORS FOLLOWING A REVIEW OF NOMINEES. true BERKSHIRE UNITED WAY 200 SOUTH STREET PITTSFIELD MA 01201 042104841 501(C)(3) 20000 SEE PART IV BOONSHOFT MUSEUM OF DISCOVERY 2600 DEWEESE PARKWAY DAYTON OH 45414 310585917 501(C)(3) 50000 SEE PART IV BRUNSWICK PUBLIC LIBRARY ASSOCIATION 21 PLEASANT STREET BRUNSWICK ME 04011 016000787 501(C)(3) 26779 SEE PART IV CHICAGO PUBLIC LIBRARY 20 NORTH MICHIGAN AVENUE CHICAGO IL 60602 363480353 501(C)(3) 50000 SEE PART IV CLAYTON COLLABORATIVE AUTHORITY 696 MOUNT ZION ROAD JONESBORO GA 30236 582516726 501(C)(3) 50000 SEE PART IV COLORADO LIBRARY CONSORTIUM 7400 E ARAPAHONE RD CENTENNIAL CO 80112 840691967 501(C)(3) 74965 SEE PART IV CONSUMER CREDIT COUNSELING SERVICES 1608 WALNUT STREET PHILADELPHIA PA 19103 231671903 501(C)(3) 70900 SEE PART IV ENGLISH SKILLS LEARNING CENTER 444 SO 700 EAST SALT LAKE CITY UT 84107 870467902 501(C)(3) 49500 SEE PART IV FINANCIAL HOPE COLLABORATIVE OF CREIGHTON 519 FLORENCE BOULEVARD OMAHA NE 68178 470376583 501(C)(3) 20000 SEE PART IV FOUNDATION OF FULTON MONTGOMERY COMMUNITY 2805 STATE HIGHWAY 67 JOHNSTOWN NY 12095 141584150 501(C)(3) 45694 SEE PART IV FRIENDS OF THE ASHE COUNTY PUBLIC LIBRARY 148 LIBRARY DRIVE WEST JEFFERSON NC 28694 561386281 501(C)(3) 29651 SEE PART IV FRIENDS OF LIBRARIES IN OKLAHOMA PO BOX 702585 TULSA OK 74170 731053431 501(C)(3) 45770 SEE PART IV FRIENDS OF THE SAN FRANCISCO PUBLIC LIBRARY 710 VAN NESS AVE SAN FRANCISCO CA 94102 946085452 501(C)(3) 50000 SEE PART IV GEORGIA STATE UNIVERSITY COLLEGE OF LAW PO BOX 3999 ATLANTA GA 30302 581845423 501(C)(3) 25000 SEE PART IV INNOVATIVE CHANGES 2010 LLOYD CENTER PORTLAND OR 97232 800516996 501(C)(3) 42185 SEE PART IV JOB OPPORTUNITIES TASK FORCE 217 EAST REDWOOD ST BALTIMORE MD 21202 522778450 501(C)(3) 63816 SEE PART IV KANSAS CITY PUBLIC LIBRARY 14 WEST 10TH STREET KANSAS CITY KS 64105 431497955 501(C)(3) 50000 SEE PART IV LAKE REGION COMMUNITY COLLEGE FND 1801 COLLEGE DRIVE DEVILS LAKE ND 58301 510242987 501(C)(3) 38625 SEE PART IV LEBANON COMMUNITY LIBRARY 125 N 7TH STREET LEBANON PA 17046 231413687 501(C)(3) 46250 SEE PART IV METRO UNITED WAY INC 334 EAST BROADWAY LOUISVILLE KY 40204 610444680 501(C)(3) 60927 SEE PART IV MICHIGAN STATE UNIVERSITY COLLEGE OF LAW 628 N SHAW LANE EAST LANSING MI 48824 381358000 501(C)(3) 20127 SEE PART IV MONTANA STATE UNIVERSITY EXTENSION 309 MONTANA HALL BOZEMAN MT 59717 816010045 501(C)(3) 68332 SEE PART IV NEIGHBORHOOD ECONOMIC DEVELOPMENT CORP 212 MAIN STREET SPRINGFIELD OR 97477 930739188 501(C)(3) 75000 SEE PART IV NEW YORK UNIVERSITY 105 E 17TH STREET NEW YORK NY 10003 135562308 501(C)(3) 20233 SEE PART IV NORTHWEST SIDE HOUSING CENTER 5233 WEST DIVERSITY AVE CHICAGO IL 60639 201413891 501(C)(3) 62500 SEE PART IV OPERATION HOPE 707 WILSHIRE BLVD LOS ANGELES CA 90017 954378084 501(C)(3) 32681 SEE PART IV PIKE COUNTY PUBLIC LIBRARY PO BOX 1276 PIKEVILLE NY 41502 800415553 501(C)(3) 40338 SEE PART IV PIONEER LIBRARY SYSTEM 300 NORMAN CENTER COURT NORMAN OK 73072 010946757 501(C)(3) 19789 SEE PART IV STANFORD UNIVERSITY 578 SERRA MALL STANFORD CA 94305 941156365 501(C)(3) 50000 SEE PART IV THE GREATER PATCHOGUE FOUNDATION 15 NORTH OCEAN AVENUE PATCHOGUE NY 11772 611417255 501(C)(3) 29876 SEE PART IV THE MOUNTAIN BROOK LIBRARY FOUNDATION 50 OAK STREET MOUNTAIN BROOK AL 35213 582094979 501(C)(3) 38500 SEE PART IV UNITED WAY OF CENTRAL INDIANA 3901 NORTH MERIDIAN INDIANAPOLIS IN 46208 351007590 501(C)(3) 59018 SEE PART IV UNITED WAY OF GREATER AUSTIN 2000 E MLK JR DRIVE AUSTIN TX 78702 741193439 501(C)(3) 75000 SEE PART IV UNITED WAY OF GREATER CLEVELAND 209 CENTER STREET CHARDON OH 44024 346516654 501(C)(3) 20000 SEE PART IV UNITED WAY OF GREATER MILWAUKEE & WAUKESHA CTY 225 WEST VINE STREET MILWAUKEE WI 53005 390806190 501(C)(3) 75000 SEE PART IV UNITED WAY OF HENRY COUNTY AND MARTINSVILLE 149 EAST MAIN ST MARTINSVILLE VA 24112 540753318 501(C)(3) 20000 SEE PART IV UNITED WAY OF STORY COUNTY 315 CLARK AVENUE AMES IA 50010 420947489 501(C)(3) 57481 SEE PART IV UNITED WAY OF THE INLAND VALLEYS 6215 RIVER CREST DRIVE RIVERSIDE CA 92507 951742174 501(C)(3) 62336 SEE PART IV UNITED WAY OF WINDHAM COUNTY 1 HOLSTEIN PLACE BRATTLEBORO VT 05302 036003074 501(C)(3) 20000 SEE PART IV UNIVERSITY OF MARYLAND BALTIMORE 620 WEST LEXINGTON BALTIMORE MD 21201 526002033 501(C)(3) 35278 SEE PART IV URBAN INSTITUTE 2100 M STREET NW WASHINGTON DC 20037 520880375 501(C)(3) 77500 SEE PART IV VIRGINIA BEACH PUBLIC LIBRARY 2416 COURTHOUSE VIRGINIA BEACH VA 23456 273077402 501(C)(3) 33050 SEE PART IV 42 FORM 990, SCHEDULE I, PART I, LINE 2 DESCRIPTION OF ORGANIZATION'S PROCEDURES FOR MONITORING THE USE OF GRANTS FOLLOWING APPROVAL OF A GRANT APPLICATION BY THE BOARD OF DIRECTORS, THE FOUNDATION EXECUTES A GRANT AGREEMENT WITH THE APPLICANT. THIS AGREEMENT SPECIFIES THE TERMS AND CONDITIONS OF THE GRANT, AS WELL AS THE REPORTING AND PAYMENT SCHEDULE. GRANTS ARE DISBURSED IN INSTALLMENTS TIED TO THE SUBMISSION OF NARRATIVE AND FINANCIAL PROGRESS REPORTS AND THE COMPLETION OF DELIVERABLES, WHICH ARE REVIEWED BY THE FOUNDATION TO ENSURE QUALITY AND COMPLIANCE WITH THE GRANT AGREEMENT. AT ITS DISCRETION, THE FOUNDATION MAY CONDUCT SITE VISITS TO OBSERVE PROJECTS AND EXAMINE OUTCOMES. THE FOUNDATION MAY ALSO UNDERTAKE OR COMMISSION EVALUATION ANALYSIS ACROSS GRANT SITES. IN ADDITION TO PROGRESS REPORTS, GRANTEES ARE REQUIRED TO COMPLETE A FINAL NARRATIVE AND FINANCIAL REPORT DETAILING PROJECT OUTCOMES AND ACCOUNTING FOR THE USE OF GRANT FUNDS. FORM 990, SCHEDULE I, PART II, COLUMN (H) GRANTS AND OTHER ASSISTANCE - PURPOSE OF GRANT OR ASSISTANCE berkshire united way, pittsfield, ma (04-2104841) financial wellness at work berkshire united way will pilot a program with local employers to provide onsite services for workers, including financial education workshops and free tax preparation. a shared staff person will have dedicated hours at participating worksites to provide one-on-one financial education and counseling, referrals, and problem-solving help. washington-centerville public library, centerville, oh (31-0585917) smart investing@your library through partnerships with the local school district and a nearby childrens museum, the washington-centerville public library will provide hands-on family financial literacy activities for county residents, while building the capacity of parents and educators to boost the financial literacy of children and teens. learning outcomes will align with the financial literacy strand of the ohio revised standards in social studies. library staff will work with school faculty and exhibit specialists from the boonshoft museum of discovery to create a traveling financial literacy exhibit. the exhibit will help children and teens learn how to lead financially responsible lives. Circulating money-themed kits will extend learning into the home and serve as a springboard for parent-child conversations about financial responsibility. A series of workshops and contests for children and teens will complement the exhibit and challenge participants to practice their new skills. Following a period of use at the Washington-Centerville public library and the museum, the exhibit will travel to schools and other libraries throughout the region. Curtis memorial library, Brunswick, me (01-6000787) smart investing@your library Curtis memorial library will undertake a community-wide financial literacy campaign to assist low- to moderate-income individuals and FAMILIES WHO ARE "JUST GETTING BYWHO WANT TO LEARN SIMPLE strategies to improve their financial health. the library will help residents in need through a diverse series of financial literacy experiences using multiple venues and formats, including: a family financial fair and how-to festival to showcase financial education opportunities available to residents and introduce the resources available at the library; short, easy-to-understand weekly workshops on practical ways to save money, supplement income and protect wealth; "Curtis money meet-ups" to supplement the workshops with facilitated book group discussions about spending mindfully, understanding financial psychology, managing and eliminating debt and building assets; and interactive financial literacy exhibits at the library to promote intergenerational learning and explore the mathematics of money. Chicago public library, Chicago, IL (36-3480353) smart investing@your library The Chicago public library will collaborate with the citys office of financial inclusion to improve access to financial education and online financial skill-building for local communities in need, especially unbanked residents and new immigrant populations. As a component of this effort, the library will train and deputize its corps of "cybernavigators" to provide on-demand assistance to library patrons seeking access to reliable financial information. the cybernavigators are an existing group of technology experts present in most of the librarys 80 locations. they work directly with patrons to improve basic digital skills and expand access to digital information. clayton county library system, jonesboro, ga (58-2516726) smart investing@your library clayton county library system will provide financial education experiences tailored to the needs of four audiences-entrepreneurs, financially disenfranchised families, senior citizens and youth. the project will enhance their prospects for self-sufficiency through financial literacy training, provide the fundamentals for economic decision-making and connect them to community resources. for entrepreneurs, the library will join forces with clayton state universitys small business development center and the countys economic development department to deliver an investing 101 series. for financially disenfranchised families, the library will partner with social service agencies and faith-based organizations to provide money management guidance. for senior citizens, the library and department of senior services will provide sessions at senior centers on estate planning, savvy investing and managing retirement income. for youth, the library will work with 4-h, scout groups and the parks and recreation department to integrate financial literacy lessons into the countys summer reading program. colorado library consortium, centennial, co (84-0691967) smart investing@your library the colorado library consortium, the estes valley library and the colorado state library will convene a network of small and medium-size libraries to help residents set financial goals, establish a plan for reaching these goals, understand investment concepts and common investment types, save for retirement and manage money in retirement. this will be accomplished through training for library staff and direct delivery of financial capability programs and services to the public. clarifi (consumer credit counseling service of delaware valley), philadelphia, pa (23-1671903) financial education in your community clarifi will partner with home care associates (a worker-owned home healthcare agency) to integrate financial education, coaching and related services into existing employee training and staff support services for lower-wage employees. salt lake county library services, west jordan, ut (87-0467902) smart investing@your library salt lake county library and the english skills learning center will coordinate basic financial education for recent refugees and immigrant families who have low income and limited literacy skills (even in their own languages). the program will integrate financial instruction into well established services for the target audience, and will increase participants skills related to the u.s. banking system, budgeting, credit products and financial planning. the local refugee and immigrant population arrives in salt lake county primarily from burma, iraq, bhutan, somalia, eritrea, afghanistan and the congo. the project partners will help these communities: (1) master the vocabulary and understanding to conduct banking transactions, create a budget, recognize predatory lending practices and avoid fraud; and (2) comprehend asset-building strategies and plan for the future. financial hope collaborative at creighton university, omaha, ne (47-0376583) financial wellness at work the financial hope collaborative will adapt a successful community-based financial wellness program for delivery in the nonprofit workplace. the program will offer six weeks of financial education followed by six months of one-of-one financial coaching. additional supports will include free credit reports, access to level payment plans with local utility companies and access to an employer-sponsored income advance loan. fulton-montgomery community college library, johnstown, ny (14-1584150) smart investing@your library evans library at fulton-montgomery community college will serve students enrolled at the college and at high schools in the mohawk valley region of upstate new york with programming about college financing and general financial literacy. learning will take the form of workshops, tutorials and web-based instruction. faculty in the colleges business division and staff from the financial aid office will provide overall instructional leadership for the project. among other topics, programs will address: budgeting; credit card education; the importance of banking relationships; the financial aid process and fafsa filing; managing student loan debt; choice of college major and lifetime earning potential; wise use of the financial aid refund; fitting college costs into the family budget; and benefits available through the gi bill. appalachian regional library system, west jefferson, nc (56-1386281) smart investing@your library in partnership with community agencies and educational institutions, appalachian regional library system will provide financial capability programming for women across three generations. for young adults in high school and college, programming will focus on financing educational costs, basic budgeting, saving for major purchases and an introduction to investing. for women in midlife and nearing or in retirement, programs will help participants prepare for their childrens education expenses, manage household budgets, recover from financial setbacks and stick to a retirement saving and investing plan while caring for aging parents. additional sessions for seniors will help participants manage retirement income, avoid financial fraud and understand estate planning. friends of l false true false false false false false false false ROBERT W COOK CHAIRMAN 328109 20779 92865 559 442312 RICHARD G KETCHUM CHAIRMAN (thru 8/14/16) 770809 1500000 408453 68094 18453 2765809 GERALDINE M WALSH PRESIDENT 290643 232000 174582 46798 17775 761798 93516 EILEEN M FAMIGLIETTI TREASURER 270519 144675 2052 60196 42512 519954 JENNIFER P MITCHELL CORPORATE SECRETARY 170237 105000 1245 33802 44453 354737 MARCIA E ASQUITH FMR CORPORATE SECRETARY 262392 300000 176602 46097 37439 822530 91671 SCHEDULE J, PART I, LINES 3 AND 4B SUPPLEMENTAL COMPENSATION INFORMATION THE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. ALL SERVICES ARE PROVIDED BY EMPLOYEES OF FINRA OR ITS SUBSIDIARIES. THE FOUNDATION DOES NOT COMPENSATE THESE EMPLOYEES FOR THEIR SERVICES. LINE 3) COMPENSATION FOR THE CEO/EXECUTIVE DIRECTOR IS ESTABLISHED AT AND PAID BY THE PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FOR FURTHER DETAILS REGARDING COMPENSATION OF OFFICERS, PLEASE REFER TO THE 2016 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 OF THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. LINE 4B) FINRA'S SUPPLEMENTAL DEFINED CONTRIBUTION PLAN IS A NON-QUALIFIED PLAN THAT IS OPEN TO VICE PRESIDENTS AND ABOVE WITH AN ANNUAL BASE PAY ABOVE THE QUALIFIED LIMIT. IT IS ONLY OPEN TO THOSE NOT PARTICIPATING IN THE CLOSED NON-QUALIFIED DEFINED BENEFIT PLAN DESCRIBED ABOVE. IT IS A FINRA FUNDED PLAN WITH A THREE YEAR VESTING CYCLE WITH ANNUAL VESTING BEGINNING AT AGE 62. PARTICIPANTS IN THE SUPPLEMENTAL NON-QUALIFIED DEFINED CONTRIBUTION PLAN WITH CONTRIBUTIONS VESTING IN 2016 INCLUDE: MARCIA E. ASQUITH - $152,376 RICHARD G. KETCHUM - $300,020 GERALDINE M. WALSH - $154,084 FORM 990, PART I, LINES 4 & 6 SIX OF THE SEVEN MEMBERS OF THE BOARD OF DIRECTORS, ACTIVE ON DECEMBER 31, 2016, ARE CONSIDERED INDEPENDENT VOTING MEMBERS AND SERVE ON A VOLUNTEER BASIS. AS DISCLOSED IN LINES (1) AND (9) OF FORM 990, PART VII, SECTION A, LINE 1A, TWO BOARD MEMBERS RECEIVE COMPENSATION FROM FINRA, THE FOUNDATION'S PARENT. ONE BOARD MEMBER RECEIVES COMPENSATION AS AN OFFICER OF FINRA AND IS NEITHER CONSIDERED INDEPENDENT NOR COUNTED AS A VOLUNTEER. THE OTHER BOARD MEMBER IS COMPENSATED FOR HER WORK AS A MEMBER OF THE BOARD OF FINRA AND IS CONSIDERED INDEPENDENT AND COUNTED AS A VOLUNTEER. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR APPROVING GRANTS AND PROJECTS. FORM 990,PART III, LINE 4 4A) EXPAND GRASSROOTS CAPACITY FOR FINANCIAL EDUCATION THE FOUNDATION SUPPORTS AND MANAGES PERSONAL FINANCE PROGRAMS, PROFESSIONAL TRAINING, RESEARCH AND SERVICES TO ASSIST A WIDE VARIETY OF AUDIENCES. THESE EFFORTS COMPRISE WORKPLACE AND COMMUNITY-LEVEL INITIATIVES THAT IMPROVE FINANCIAL STABILITY, FINANCIAL PLANNING, AND INVESTING KNOWLEDGE AND DECISION-MAKING. THE FOUNDATION'S GRANTS AND PROGRAMS ARE ADMINISTERED IN PARTNERSHIP WITH MISSION-DRIVEN ORGANIZATIONS SUCH AS UNITED WAY WORLDWIDE, THE AMERICAN LIBRARY ASSOCIATION AND OTHERS COMMITTED TO THE FINANCIAL EMPOWERMENT OF AMERICANS. 4B) PROTECT CONSUMERS FROM FINANCIAL FRAUD THE FOUNDATION EDUCATES AMERICANS ABOUT FINANCIAL FRAUD, HOW TO AVOID AND REPORT IT, AND THE STEPS TO TAKE IF VICTIMIZED. THROUGH RESEARCH, EDUCATION AND OUTREACH, THE FOUNDATION INCREASES FRAUD PREVENTION AWARENESS, EMPOWERS CONSUMERS, AND TRAINS LAW ENFORCEMENT TO RECOGNIZE AND TAKE ACTION AGAINST FINANCIAL FRAUD. 4C) ENSURE MILITARY FINANCIAL READINESS THE FOUNDATION DELIVERS HIGH-QUALITY INFORMATION AND TOOLS TO MILITARY SERVICE MEMBERS AND THEIR FAMILIES. THROUGH EDUCATION AND OUTREACH, THE FOUNDATION INCREASES PERSONAL FINANCE EXPERTISE AND SERVICES IN MILITARY COMMUNITIES, IMPROVES THE CREDIT MANAGEMENT OF SERVICE MEMBERS AND THEIR SPOUSES, AND PROVIDES OUTREACH SERVICES TO THE MILITARY COMMUNITY. 4D) BENCHMARK, TRACK AND BETTER UNDERSTAND AMERICANS' FINANCIAL CAPABILITY THE FOUNDATION IS THE LEAD AGENCY FOR THE NATIONAL FINANCIAL CAPABILITY STUDY, A LARGE-SCALE, MULTI-YEAR PROJECT THAT ADVANCES COMPREHENSIVE UNDERSTANDING OF THE FINANCIAL CAPABILITY OF ADULTS IN THE UNITED STATES. THE STUDY BENCHMARKS KEY INDICATORS OF FINANCIAL CAPABILITY AND EVALUATES HOW THESE INDICATORS VARY OVER TIME AND WITH UNDERLYING DEMOGRAPHIC, BEHAVIORAL, ATTITUDINAL AND FINANCIAL LITERACY CHARACTERISTICS. THE FOUNDATION ALSO PROVIDES RESEARCH GRANTS THAT ENABLE EXPERIMENTS AND DATA ANALYSIS THAT FURTHER UNDERSTANDING OF THE RELATIONSHIPS AMONG FINANCIAL LITERACY, FINANCIAL CAPABILITY AND FINANCIAL WELL-BEING. FORM 990, PART VI, LINES 6, 7A AND 7B LINE 6 - THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. (FINRA) IS THE SOLE MEMBER OF THE FOUNDATION. LINE 7A - FINRA, AS SOLE MEMBER, ELECTS ALL MEMBERS OF THE GOVERNING BODY. LINE 7B - THE BYLAWS OF THE CORPORATION MAY BE AMENDED BY THE SOLE MEMBER, FINRA. THE CERTIFICATE OF INCORPORATION OF THE CORPORATION MAY BE AMENDED OR REPEALED IN WHOLE OR IN PART ONLY WITH THE AFFIRMATIVE APPROVAL OF THE MEMBER, FINRA. FORM 990, PART VI, LINE 11B THE FORM 990 WAS REVIEWED BY SENIOR MANAGEMENT AT VARIOUS STEPS THROUGHOUT THE PREPARATION CYCLE. THE FOUNDATION BOARD REVIEWED THE FINAL VERSION ON SEPTEMBER 13, 2017. FORM 990, PART VI EMPLOYMENT RULES AND POLICIES THE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. ALL SERVICES ARE PROVIDED BY EMPLOYEES OF FINRA. THE FOUNDATION DOES NOT PAY FOR THEIR SERVICES. AS SUCH, THOSE INDIVIDUALS ARE SUBJECT TO THE EMPLOYMENT RULES AND POLICIES OF FINRA. FORM 990, PART VI, LINE 12C THE FINRA INVESTOR EDUCATION FOUNDATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT GOVERNS THE PROFESSIONAL AND ETHICAL CONDUCT OF BOARD MEMBERS, OFFICERS AND STAFF. AMONG OTHER THINGS, MEMBERS, OFFICERS, AND STAFF ARE PROHIBITED FROM DERIVING ANY PERSONAL PROFIT OR GAIN, DIRECTLY OR INDIRECTLY, BY REASON OF THEIR SERVICE TO THE FOUNDATION. MOREOVER, THE POLICY EXPRESSLY PROHIBITS SELF-DEALING. THE WRITTEN CONFLICT OF INTEREST POLICY REQUIRES BOARD MEMBERS AND OFFICERS TO MAKE INITIAL DISCLOSURE OF INTERESTS THAT COULD GIVE RISE TO CONFLICTS AS WELL AS ANNUAL DISCLOSURE BY THE SAME BOARD MEMBERS AND OFFICERS. ADDITIONALLY, THE WRITTEN POLICY CONTAINS AN ONGOING OBLIGATION OF BOARD MEMBERS, OFFICERS AND STAFF TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST AS THEY ARISE. THE ORGANIZATION'S OFFICERS AND STAFF ARE EMPLOYEES OF FINRA, AND, AS SUCH, ARE ALSO REQUIRED TO CERTIFY ANNUALLY AS TO THEIR COMPLIANCE WITH FINRA'S WRITTEN CONFLICT OF INTEREST POLICY. FOR FURTHER INFORMATION REGARDING FINRA'S WRITTEN CONFLICT OF INTEREST POLICY, PLEASE REFER TO THE 2016 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 FOR THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FORM 990, PART VI, LINES 15A AND 15B THE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. ALL SERVICES ARE PROVIDED BY EMPLOYEES OF FINRA. THE FOUNDATION DOES NOT COMPENSATE THESE EMPLOYEES OF FINRA FOR THEIR SERVICE. THE PRESIDENT OF THE FOUNDATION SERVES AS THE LEAD OFFICER DIRECTING THE ACTIVITIES OF THE ORGANIZATION. IN DETERMINING SPECIFIC SALARY AND INCENTIVE COMPENSATION LEVELS FOR OFFICERS AND KEY EMPLOYEES OF FINRA, FINRA MANAGEMENT AND THE MANAGEMENT COMPENSATION COMMITTEE (THE "COMMITTEE") OF THE FINRA BOARD OF GOVERNORS CONSIDER: 1) OPERATONAL RESULTS 2) STRATEGIC INITIATIVES 3) FINANCIAL HEALTH/RESULTS 4) INDIVIDUAL PERFORMANCE 5) COMPETITIVE COMPENSATION LEVELS AS PREPARED BY MERCER, INC., A THIRD-PARTY COMPENSATION CONSULTANT. THE COMMITTEE'S MINUTES OF THE NOVEMBER 12, 2015 AND DECEMBER 14, 2015 MEETINGS WERE REVIEWED AND APPROVED AS ACCURATE AND COMPLETE FOLLOWING THE COMMITTEE'S APPROVAL OF THE SENIOR EXECUTIVE COMPENSATION PACKAGES. THE FULL BOARD FURTHER APPROVED THE 2015 INCENTIVE COMPENSATION OF THE CEO AT ITS MEETING ON DECEMBER 14, 2015. ALL COMPENSATION COMMITTEE MEMBERS VOTED FOR THE PROPOSED LEVEL OF EXECUTIVE COMPENSATION. FOR FURTHER INFORMATION REGARDING THE COMPENSATION OF OFFICERS, PLEASE REFER TO THE 2016 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 FOR THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FORM 990, PART VI, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART VII, SECTION B AMERICAN LIBRARY ASSOCIATION - DEVELOPED AND CONDUCTED A COMPREHENSIVE FINANCIAL EDUCATION INITIATIVE SERVING U.S. LIBRARIES. UNITED WAY WORLDWIDE - ADMINISTERED AND MAINTAINED FINANCIAL CAPABILITY INITIATIVES SERVING COMMUNITY-BASED NON-PROFIT ORGANIZATIONS. APPLIED RESEARCH & CONSULTING - PROVIDED RESEARCH SERVICES FOR THE NATIONAL FINANCIAL CAPABILITY STUDY AS WELL AS CONSULTING SERVICES REGARDING STRATEGIC PLANNING. AARP FOUNDATION - CONDUCTED PROACTIVE PEER COUNSELING TO VULNERABLE CONSUMERS AND VICTIMS OF FINANCIAL FRAUD. ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION - DEVELOPED CONTENT FOR MILITARY SPOUSE FINANCIAL COUNSELOR TRAINING. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES PRIMARILY RELATE TO CONTRIBUTED SERVICES $3,328,245, INVESTMENT EXPENSES $115,214 AND THE REVERSAL OF GRANT EXPENSES RELATING TO PRIOR PERIODS ($64,270), AND REALIZED GAIN/LOSS ON ASSETS ($279,844). FINANCIAL IND REGULATORY AUTHORITY INC 1735 K STREET NW WASHINGTON DC 20006 530088710 REGULATORY DE 501(C)(6) N/A NA false FINRA REGULATION INC 1735 K STREET NW WASHINGTON DC 20006 521959501 REGULATORY DE 501(C)(6) N/A FINRA false HIGHVISTA II LP 200 CLARENDON STREET BOSTON MA 02116 260125223 INVESTMENT DE NA EXCLUDED 1483466 23237760 false 14193 false 0.20593 false false true false false false false false false false false false true true true false false true