MUNICIPAL SECURITIES RULEMAKING BOARD: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- MUNICIPAL SECURITIES RULEMAKING BOARD (EIN 52-1042433)
- Tax period
- 2015-10-01 to 2016-09-30
- Filed
- 2017-02-03
- IRS object ID
- 201740349349300309
- Schema version
- 2015v3.0
- 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 | 2017-02-03T08:09:24-06:00 | ReturnTs |
| Tax Period End | 2016-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 861065772 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DELOITTE TAX LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7900 TYSONS ONE PLACE SUITE 800 | AddressLine1Txt |
| City | MCLEAN | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 22102 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-10-01 | 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) |
|---|---|---|
| Business Name Control | MUNI | BusinessNameControlTxt |
| Phone | 2028381500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1300 I STREET NW NO 1000 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | LYNNETTE KELLY | PersonNm |
| Person Title | EXECUTIVE DIRECTOR | PersonTitleTxt |
| Phone | 2028381500 | PhoneNum |
| Signature | 2017-01-30 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOHN W SADOFF JR | PreparerPersonNm |
| PTIN | P00540589 | PTIN |
| Phone | 7032511000 | PhoneNum |
| Preparation | 2017-01-30 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | 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 | 1300 I STREET NW NO 1000 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $35,340,191 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | 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 | 129 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $36,108,884 | PYContributionsGrantsAmt |
| CY Contributions Grants | $31,011,375 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $4,700,257 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,809,759 | CYProgramServiceRevenueAmt |
| PY Investment Income | $390,556 | PYInvestmentIncomeAmt |
| CY Investment Income | $513,134 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $41,199,697 | PYTotalRevenueAmt |
| CY Total Revenue | $35,334,268 | 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 | $17,690,553 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $19,490,795 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $14,511,054 | PYOtherExpensesAmt |
| CY Other Expenses | $16,096,375 | CYOtherExpensesAmt |
| PY Total Expenses | $32,201,607 | PYTotalExpensesAmt |
| CY Total Expenses | $35,587,170 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $8,998,090 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$252,902 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $74,829,468 | TotalAssetsBOYAmt |
| Total Assets EOY | $79,547,955 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $5,314,474 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $10,233,151 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $69,514,994 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $69,314,804 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE OTHE 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, AND3. MARKET LEADERSHIP, OUTREACH AND EDUCATION. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | ESTABLISHING REGULATIONS FOR MUNICIPAL ADVISORS AND DEALERS: SEE SCHEDULE OESTABLISHING REGULATIONS 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 MSRB'S 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. IN ADDITION, THE MSRB'S ACTIVITIES ARE SUBJECT TO THE GENERAL OVERSIGHT OF THE SEC. THE MSRB DOES NOT ENFORCE ITS RULES BUT FOLLOWS ESTABLISHED PROCEDURES FOR COORDINATING COOPERATIVELY WITH ENFORCEMENT AGENCIES CHARGED WITH ENFORCING MSRB RULES. THE MSRB ALSO OPERATES PROGRAMS THAT SUPPORT THE QUALIFICATION OF PROFESSIONALS EMPLOYED BY REGULATED ENTITIES.CURRENT AND HISTORICAL INFORMATION REGARDING THE MSRB'S RULES AND RULEMAKING-INCLUDING RULE INTERPRETATIONS, REQUESTS FOR COMMENT, NOTICES TO REGULATED ENTITIES AND RULE FILINGS SUBMITTED TO THE SEC-IS DISPLAYED ON THE MSRB'S CORPORATE WEBSITE, AT WWW.MSRB.ORG.REGULATORY HIGHLIGHTS THAT OCCURRED DURING FY 2016 INCLUDE: MUNICIPAL ADVISOR-RELATED ACTIVITY* RULES APPROVED - CORE STANDARDS OF CONDUCT REQUIREMENTS (MSRB RULE G-42) - AMENDMENTS TO REGULATIONS ON GIFTS, GRATUITIES AND NON-CASH COMPENSATION (MSRB RULE G-20 AND RELATED AMENDMENTS TO MSRB RULE G-8) - AMENDMENTS TO POLITICAL CONTRIBUTIONS REGULATIONS (MSRB RULE G-37)* RULES ADVANCED- CONTINUING EDUCATION REQUIREMENTS (MSRB RULE G-3)* OTHER ACTIVITY - LAUNCHED PERMANENT MUNICIPAL ADVISOR REPRESENTATIVE QUALIFICATION EXAM (SERIES 50) - PUBLISHED FIRST COMPLIANCE ADVISORY FOR MUNICIPAL ADVISORS- SOUGHT PUBLIC COMMENT ON POTENTIAL RULEMAKING TO IMPROVE TRANSPARENCY FOR DIRECT PURCHASES AND BANK LOANSDEALER-RELATED ACTIVITY* RULES APPROVED - SHORTENED TIMEFRAME FOR RESOLUTION OF OPEN INTER-DEALER TRANSACTIONS (MSRB RULE G-12)- FACILITATED INDUSTRY SHIFT TO TWO-DAY SETTLEMENT CYCLE (MSRB RULES G-12 AND G-15)- MODERNIZED MATHEMATICAL FORMULA FOR CALCULATION OF DOLLAR PRICE OF INTEREST-BEARING MUNICIPAL SECURITIES WITH PERIODIC INTEREST PAYMENTS (MSRB RULE G-33)* RULES ADVANCED - DISCLOSURE OF DEALER COMPENSATION ON CUSTOMER CONFIRMATIONS (MSRB RULE G-15)- POLICIES GOVERNING DEALER DETERMINATIONS OF THE PREVAILING MARKET PRICE OF A SECURITY FOR FAIR-PRICING AND OTHER PURPOSES (MSRB RULE G-30)- MODERNIZATION OF PROCESS OF HANDLING CUSTOMER COMPLAINTS (MSRB RULE G-10)- CLARIFICATION OF MINIMUM DENOMINATION REGULATIONS (MSRB RULE G-15 AND DRAFT NEW RULE G-49)* OTHER ACTIVITY- PROVIDED IMPLEMENTATION GUIDANCE TO FACILITATE COMPLIANCE WITH NEW BEST-EXECUTION STANDARD FOR MUNICIPAL MARKET TRANSACTIONS (MSRB RULE G-18)- ISSUED INTERPRETIVE GUIDANCE ON APPLICATION OF MSRB INVESTOR PROTECTION RULES TO ACHIEVING A BETTER LIFE EXPERIENCE (ABLE) PROGRAMS - PUBLISHED 2016 COMPLIANCE ADVISORY FOR DEALERSADMINISTRATIVE ACTIVITY* RULES ADOPTED- LENGTHENED TERM OF SERVICE ON MSRB BOARD OF DIRECTORS TO FOUR YEARS (MSRB RULE A-3) | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | COLLECTING AND DISSEMINATING MARKET INFORMATION: SEE SCHEDULE OCOLLECTING 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 ESTABLISHED "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 MSRB'S 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 2016, THE MSRB OFFERED FIVE PRINCIPAL DATA PRODUCTS WITH APPROXIMATELY 161 ACTIVE SUBSCRIPTION AGREEMENTS.DURING FY 2016, THE MSRB MADE ENHANCEMENTS TO MARKET INFORMATION PROVIDED ON EMMA THAT INCLUDE: - ADDITIONAL POST-TRADE TRANSPARENCY INFORMATION, INCLUDING NEW INDICATORS FOR TRANSACTIONS INVOLVING ALTERNATIVE TRADING SYSTEMS, NON-TRANSACTION-BASED COMPENSATION AND OTHER SPECIAL CONDITIONS ON EMMA (MSRB RULE G-14)- FREE ECONOMIC CALENDAR ON EMMA TO DISPLAY UPCOMING ECONOMIC REPORTS AND EVENTS THAT MAY HAVE AN IMPACT ON THE MUNICIPAL MARKET- OFFERING DOCUMENTS FOR ABLE PROGRAMS MADE AVAILABLE ON EMMA THROUGH VOLUNTARY SUBMISSIONS BY STATES AND PER MSRB REGULATIONS BY MUNICIPAL SECURITIES DEALERS - STREAMLINED PROCESS BY WHICH MUNICIPAL SECURITIES ISSUERS VOLUNTARILY SUBMIT BANK LOAN DISCLOSURES AND MADE THESE DISCLOSURES EASIER TO FIND FOR INVESTORSTHE 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 2017.THE MSRB ALSO FACILITATED ACADEMIC RESEARCH INTO THE MUNICIPAL MARKET BY MAKING TRADE DATA FREELY AVAILABLE TO ACADEMIC INSTITUTIONS THROUGH THE WHARTON RESEARCH DATA SERVICES (WRDS) PLATFORM AND ADVANCING A PLAN TO CREATE A NEW ACADEMIC HISTORICAL TRANSACTION DATA PRODUCT THAT WILL ENABLE ACADEMICS TO DISTINGUISH TRANSACTIONS EXECUTED BY DIFFERENT DEALERS. ADDITIONALLY, DURING FY 2016, THE MSRB IMPLEMENTED ALL REQUIRED POLICIES AND PROCEDURES TO ENSURE READINESS TO COMPLY WITH THE SEC REGULATION SYSTEMS COMPLIANCE AND INTEGRITY RULES (REGULATION SCI) AND CONDUCTED INDUSTRY-WIDE BUSINESS CONTINUITY TESTING. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ENGAGING IN EDUCATION, OUTREACH AND MARKET LEADERSHIP: SEE SCHEDULE OENGAGING 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 2016, HIGHLIGHTS IN THIS AREA INCLUDE: - INCREASED AVAILABILITY OF QUALITY MUNICIPAL SECURITIES MARKET EDUCATION WITH THE LAUNCH OF MUNIEDPRO, A SUITE OF INTERACTIVE, ONLINE COURSES ABOUT MARKET ACTIVITIES AND MSRB RULES;- ENHANCED DELIVERY OF FREE MUNICIPAL MARKET EDUCATION THROUGH A NEW ON-DEMAND WEBINAR PORTAL ON THE MSRB WEBSITE;- EARNED DESIGNATION AS A REGISTERED SPONSOR OF CPE IN ACCORDANCE WITH THE REQUIREMENTS OF THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA);- SUPPORTED UNDERSTANDING OF MUNICIPAL ADVISOR REGULATIONS BY PUBLISHING SUPPORTING EDUCATIONAL CONTENT AND OFFERING TWELVE TARGETED WEBINARS;- PRODUCED EDUCATIONAL MATERIALS FOR INVESTORS AND ISSUERS ON TOPICS SUCH AS WAYS TO BUY BONDS AND WHAT TO EXPECT FROM A MUNICIPAL ADVISOR;- PARTICIPATED IN 92 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, CONSISTENT WITH THE MSRB'S ROLE AS A FACILITATOR OF MARKET-WIDE DISCUSSIONS ABOUT IMPORTANT ISSUES;- CONDUCTED THE BIENNIAL REGULATOR SUMMIT WITH THE AGENCIES THAT SHARE RESPONSIBILITY FOR EXAMINING FOR COMPLIANCE WITH AND ENFORCING MSRB RULES; - COORDINATED WITH SEC AND FINRA TO DELIVER MUNICIPAL ADVISOR TRAINING FOR EXAMINERS TO A TOTAL OF 660 ATTENDEES AT THE 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 TWO OP-EDS ON KEY MARKET LEADERSHIP ISSUES: IMPROVING TRANSPARENCY OF BANK LOANS AND ADDRESSING PAY-TO-PLAY PRACTICES IN THE MUNICIPAL ADVISORY BUSINESS;- SENT LETTER TO CONGRESSIONAL TASK FORCE ON ECONOMIC GROWTH IN PUERTO RICO OUTLINING A SET OF PRINCIPLES FOR CONSIDERATION BY PUERTO RICO ISSUERS SEEKING TO ENHANCE INVESTOR CONFIDENCE;- SENT A LETTER TO CONGRESS ON MSRB ACTIVITIES RELATED TO DODD-FRANK; AND- TESTIFIED BEFORE CONGRESS ON THE MSRB'S PRIORITIES FOR FY 2017. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (1) | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 59 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 129 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Form8282 Filed | 0 | Form8282FiledCnt |
| Indoor Tanning Services | 0 | 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 | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BONNIE MOYNIHAN | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 (43 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|
| ANDREW SANFORD | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $12,350 | $0 | $0 | ||||
| ARTHUR MILLER | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $46,550 | $0 | $0 | ||||
| BRIAN L WYNNE | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $46,550 | $0 | $0 | ||||
| CHRISTOPHER M RYON | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $45,000 | $0 | $0 | ||||
| DALE TURNIPSEED | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $12,350 | $0 | $0 | ||||
| DALL FORSYTHE | |||||||||
| DIRECTOR | 5.00 | Yes (X) | $46,724 | $0 | $0 | ||||
| EDWARD TISHELMAN | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $4,977 | $0 | $0 | ||||
| GARY HALL | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $45,300 | $0 | $0 | ||||
| JAMES D MCKINNEY | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $45,000 | $0 | $0 | ||||
| LAKSHMI KOMMI | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $45,300 | $0 | $0 | ||||
| LUCY HOOPER | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $45,000 | $0 | $0 | ||||
| MARCY EDWARDS | |||||||||
| DIRECTOR | 5.00 | Yes (X) | $42,300 | $0 | $0 | ||||
| MARK KIM | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $12,350 | $0 | $0 | ||||
| PATRICK SWEENEY | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $7,373 | $0 | $0 | ||||
| RENEE BOICOURT | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $12,350 | $0 | $0 | ||||
| RICHARD FROEHLICH | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $45,300 | $0 | $0 | ||||
| RICHARD K ELLIS | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $46,100 | $0 | $0 | ||||
| RITA SALLIS | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $45,300 | $0 | $0 | ||||
| ROBERT P COCHRUN | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $45,000 | $0 | $0 | ||||
| RONALD DIECKMAN | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $12,050 | $0 | $0 | ||||
| STEVE APFELBACHER | |||||||||
| DIRECTOR | 4.00 | Yes (X) | $45,300 | $0 | $0 | ||||
| COLLEEN WOODELL | |||||||||
| DIRECTOR, BOARD VICE CHAIR | 4.00 | Yes (X) | $52,500 | $0 | $0 | Yes (X) | |||
| NATHANIEL SINGER | |||||||||
| DIRECTOR, BOARD CHAIR | 6.00 | Yes (X) | $57,800 | $0 | $0 | Yes (X) | |||
| AMYTIS G RAMOS | |||||||||
| ASSISTANT SECRETARY | 40.00 | $89,345 | $0 | $48,440 | Yes (X) | ||||
| ELIZABETH A WOLFE | |||||||||
| TREASURER AND CFO | 40.00 | $450,721 | $0 | $49,583 | Yes (X) | ||||
| LYNNETTE KELLY | |||||||||
| EXECUTIVE DIRECTOR | 40.00 | $1,207,958 | $0 | $176,219 | Yes (X) | ||||
| NANETTE D LAWSON | |||||||||
| DEPUTY CFO | 40.00 | $171,672 | $0 | $47,296 | Yes (X) | ||||
| RONALD W SMITH | |||||||||
| CORPORATE SECRETARY | 40.00 | $199,370 | $0 | $29,971 | Yes (X) | ||||
| SARA MAJROH | |||||||||
| ASSISTANT SECRETARY | 40.00 | $134,754 | $0 | $21,313 | Yes (X) | ||||
| ALAN MORISATO | |||||||||
| CHIEF OPS & TECH OFFR | 40.00 | $457,029 | $0 | $33,573 | Yes (X) | ||||
| JOHN A BAGLEY | |||||||||
| CHIEF MARKET STRUCTURE OFFICER | 40.00 | $471,591 | $0 | $61,639 | Yes (X) | ||||
| ROBERT FIPPINGER | |||||||||
| CHIEF LEGAL OFFICER | 40.00 | $524,097 | $0 | $36,134 | Yes (X) | ||||
| GAIL MARSHALL | |||||||||
| ASSOC GC - ENFORCEMENT | 40.00 | $238,998 | $0 | $29,300 | Yes (X) | ||||
| JENNIFER A GALLOWAY | |||||||||
| CHIEF COMMUNICATIONS OFFICER | 40.00 | $283,545 | $0 | $42,794 | Yes (X) | ||||
| MICHAEL POST | |||||||||
| GEN COUNSEL - REG AFFAIRS | 40.00 | $467,854 | $0 | $35,090 | Yes (X) | ||||
| RITTA MCLAUGHLIN | |||||||||
| CHIEF EDUCATION OFFICER | 40.00 | $342,352 | $0 | $38,773 | Yes (X) | ||||
| SHARON K ZACKULA | |||||||||
| ASSOCIATE GENERAL COUNSEL | 40.00 | $223,313 | $0 | $27,697 | Yes (X) | ||||
| CRAIG A NOBLE | |||||||||
| DIRECTOR | 4.00 | $37,500 | $0 | $0 | Yes (X) | ||||
| KYM S ARNONE | |||||||||
| DIRECTOR, BOARD CHAIR | 10.00 | $60,000 | $0 | $0 | Yes (X) | ||||
| LAWRENCE P SANDOR | |||||||||
| DEPUTY GENERAL COUNSEL | 40.00 | $135,413 | $0 | $16,990 | Yes (X) | ||||
| MARIANNE F EDMONDS | |||||||||
| DIRECTOR | 4.00 | $33,750 | $0 | $0 | Yes (X) | ||||
| ROBIN L WIESSMANN | |||||||||
| DIRECTOR | 4.00 | $33,750 | $0 | $0 | Yes (X) | ||||
| W BARTLEY HILDRETH | |||||||||
| DIRECTOR | 4.00 | $33,750 | $0 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $6,415,586 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $694,812 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 55 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| C C PACE SYSTEMS INC | |||||
| 4100 MONUMENT CORNER DRIVE SUITE 4 | FAIRFAX | VA | 22030 | SOFTWARE DEVELOPMENT | $1,694,010 |
| SUTHERLAND GLOBAL SERVICES | |||||
| 1160 PITTSFORD-VICTOR ROAD | PITTSFORD | NY | 14534 | CALL CENTER | $315,404 |
| LOGICBOOST INC | |||||
| 1101 17TH STREET NW SUITE 1102 | WASHINGTON | DC | 20036 | SOFTWARE DEVELOPMENT | $253,640 |
| GREENBERG TRAURIG LLP | |||||
| 2101 L STREET NW SUITE 1000 | WASHINGTON | DC | 20037 | LEGAL SERVICES | $157,163 |
| NOETIC PARTNERS INC | |||||
| 445 PARK AVENUE 9TH FLOOR | NEW YORK | NY | 10022 | DATABASE SUPPORT | $146,125 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
| Membership Dues | $31,011,375 | MembershipDuesAmt |
| Total Contributions | $31,011,375 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| DATA SUBSCRIPTIONS | 900099 | $1,833,931 | $1,833,931 |
| RULE VIOLATION FINE REVENUE | 900099 | $1,219,081 | $1,219,081 |
| PROF QUALIFICATION EXAM FEES | 900099 | $493,645 | $493,645 |
| OTHER INCOME | 900099 | $263,102 | $263,102 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,809,759 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $488,316 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $488,316 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $30,741 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $5,923 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $24,818 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $24,818 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $24,818 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $35,334,268 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,322,893 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,980,451 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,540,476 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $810,668 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,287,394 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $871,806 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $426,119 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $184,807 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,542,717 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $780,491 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,006,783 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,709,783 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $556,951 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $344,275 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,215,115 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $210,049 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| ELECTRONIC INFO FEE | $1,306,097 |
| DUES, REGIST. & TRAININ | $249,118 |
| PROPERTY & OTHER TAXES | $203,104 |
| TEMP AGENCY STAFF | $95,340 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $265,626 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,587,170 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $668,600 | BOYAmt |
| EOY | $631,066 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $712,414 | BOYAmt |
| EOY | $3,121,200 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,815,028 | BOYAmt |
| EOY | $6,077,791 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,740,081 | BOYAmt |
| EOY | $1,026,330 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $41,210,412 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $28,636,318 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,967,085 | BOYAmt |
| EOY | $12,574,094 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $57,926,260 | BOYAmt |
| EOY | $56,117,474 | 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 | $74,829,468 | BOYAmt |
| EOY | $79,547,955 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,337,680 | BOYAmt |
| EOY | $3,941,300 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $273,419 | BOYAmt |
| EOY | $278,210 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,703,375 | BOYAmt |
| EOY | $6,013,641 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,314,474 | BOYAmt |
| EOY | $10,233,151 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $69,514,994 | BOYAmt |
| EOY | $69,314,804 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $69,514,994 | BOYAmt |
| EOY | $69,314,804 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $74,829,468 | BOYAmt |
| EOY | $79,547,955 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$252,902 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $52,712 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | 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 (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nonded | 0 | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | 0 | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | 0 | AgreeCarryoverPriorYearInd |
| Dues Assessments | $31,011,375 | DuesAssessmentsAmt |
| Non Deductible Lbbyng Pltcl CY | $42,194 | NonDeductibleLbbyngPltclCYAmt |
| Non Deductible Lbbyng Pltcl Tot | $42,194 | NonDeductibleLbbyngPltclTotAmt |
| Taxable | $42,194 | TaxableAmt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,033,851 | OtherCostOrOtherBasisAmt |
| Depreciation | $263,276 | DepreciationAmt |
| Book Value | $3,770,575 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,973,274 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,686,844 | DepreciationAmt |
| Book Value | $2,286,430 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $32,203,287 | OtherCostOrOtherBasisAmt |
| Depreciation | $25,686,198 | DepreciationAmt |
| Book Value | $6,517,089 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $12,574,094 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| DEFERRED RENT | $5,872,836 |
| DEFERRED COMPENSATION | $140,805 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $6,013,641 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $35,386,980 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $52,712 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $52,712 | RevenueNotReportedAmt |
| Revenue Subtotal | $35,334,268 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $35,334,268 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $35,587,170 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $35,587,170 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $35,587,170 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | 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 2013 TO 2016, 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 (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | 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 | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (19 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ELIZABETH A WOLFE | ||||||||||||||
| TREASURER AND CFO | $380,543 | $0 | $43,890 | $0 | $26,288 | $0 | $26,799 | $0 | $22,784 | $0 | $500,304 | $0 | $0 | $0 |
| LYNNETTE KELLY | ||||||||||||||
| EXECUTIVE DIRECTOR | $734,894 | $0 | $444,440 | $0 | $28,624 | $0 | $143,492 | $0 | $32,727 | $0 | $1,384,177 | $0 | $0 | $0 |
| NANETTE D LAWSON | ||||||||||||||
| DEPUTY CFO | $161,172 | $0 | $10,500 | $0 | $0 | $0 | $12,167 | $0 | $35,129 | $0 | $218,968 | $0 | $0 | $0 |
| RONALD W SMITH | ||||||||||||||
| CORPORATE SECRETARY | $196,870 | $0 | $2,500 | $0 | $0 | $0 | $17,244 | $0 | $12,727 | $0 | $229,341 | $0 | $0 | $0 |
| SARA MAJROH | ||||||||||||||
| ASSISTANT SECRETARY | $121,254 | $0 | $13,500 | $0 | $0 | $0 | $10,524 | $0 | $10,789 | $0 | $156,067 | $0 | $0 | $0 |
| ALAN MORISATO | ||||||||||||||
| CHIEF OPS & TECH OFFR | $369,823 | $0 | $35,050 | $0 | $52,156 | $0 | $30,338 | $0 | $3,235 | $0 | $490,602 | $0 | $0 | $0 |
| JOHN A BAGLEY | ||||||||||||||
| CHIEF MARKET STRUCTURE OFFICER | $417,091 | $0 | $54,500 | $0 | $0 | $0 | $25,173 | $0 | $36,466 | $0 | $533,230 | $0 | $0 | $0 |
| ROBERT FIPPINGER | ||||||||||||||
| CHIEF LEGAL OFFICER | $448,461 | $0 | $70,000 | $0 | $5,636 | $0 | $18,550 | $0 | $17,584 | $0 | $560,231 | $0 | $0 | $0 |
| GAIL MARSHALL | ||||||||||||||
| ASSOC GC - ENFORCEMENT | $210,998 | $0 | $28,000 | $0 | $0 | $0 | $12,056 | $0 | $17,244 | $0 | $268,298 | $0 | $0 | $0 |
| JENNIFER A GALLOWAY | ||||||||||||||
| CHIEF COMMUNICATIONS OFFICER | $252,995 | $0 | $30,550 | $0 | $0 | $0 | $22,350 | $0 | $20,444 | $0 | $326,339 | $0 | $0 | $0 |
| MICHAEL POST | ||||||||||||||
| GEN COUNSEL - REG AFFAIRS | $377,372 | $0 | $35,150 | $0 | $55,332 | $0 | $25,668 | $0 | $9,422 | $0 | $502,944 | $0 | $0 | $0 |
| RITTA MCLAUGHLIN | ||||||||||||||
| CHIEF EDUCATION OFFICER | $305,450 | $0 | $36,902 | $0 | $0 | $0 | $22,811 | $0 | $15,962 | $0 | $381,125 | $0 | $0 | $0 |
| SHARON K ZACKULA | ||||||||||||||
| ASSOCIATE GENERAL COUNSEL | $200,813 | $0 | $22,500 | $0 | $0 | $0 | $14,278 | $0 | $13,419 | $0 | $251,010 | $0 | $0 | $0 |
| CRAIG A NOBLE | ||||||||||||||
| DIRECTOR | $37,500 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $37,500 | $0 | $0 | $0 |
| KYM S ARNONE | ||||||||||||||
| DIRECTOR, BOARD CHAIR | $60,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $60,000 | $0 | $0 | $0 |
| LAWRENCE P SANDOR | ||||||||||||||
| DEPUTY GENERAL COUNSEL | $134,937 | $0 | $0 | $0 | $476 | $0 | $15,639 | $0 | $1,351 | $0 | $152,403 | $0 | $0 | $0 |
| MARIANNE F EDMONDS | ||||||||||||||
| DIRECTOR | $33,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $33,750 | $0 | $0 | $0 |
| ROBIN L WIESSMANN | ||||||||||||||
| DIRECTOR | $33,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $33,750 | $0 | $0 | $0 |
| W BARTLEY HILDRETH | ||||||||||||||
| DIRECTOR | $33,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $33,750 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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. |
| PART I, LINE 4B | LYNNETTE KELLY, EXECUTIVE DIRECTOR PARTICIPATED IN A 457(F) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. A CONTRIBUTION OF $105,000 WAS MADE; A DISTRIBUTION OF $317,107 WAS PROVIDED. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | THE ARTICLES OF INCORPORATION AND BY-LAWS WERE AMENDED TO LENGTHEN THE TERM OF SERVICE FOR MEMBERS OF THE MSRB BOARD OF DIRECTORS TO FOUR YEARS FROM THREE YEARS AND TO MODIFY THE BOARD OF DIRECTORS MEMBER CLASS STRUCTURE. |
| 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, 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 CONDUCTED ITS REVIEW ON 01/24/2017 AND THE BOARD OF DIRECTORS CONDUCTED ITS REVIEW ON 01/25/2017. |
| 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 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. |
| FORM 990, PART VI, SECTION B, LINE 15A | 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. |
| 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. |
| 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. |
Comments