2016-11-15T14:59:50-06:00 2015-12-31 Grant Thornton LLP 1000 WILSON BLVD SUITE 1400 ARLINGTON VA 22209 990 2015-01-01 135642275 Futures Industry Association Inc % R GUY SHEETZ FUTU 2024665460 2001 Pennsylvania Ave NW Suite 600 Washington DC 200061807 R GUY SHEETZ CFO, CAO 2024665460 2016-11-15 true Mary Torretta P00847851 7038477500 2015 2017-02-10 21:41:12Z Walter Lukken 2001 Pennsylvania Ave NW 600 Washington DC 20006 25305480 false X www.futuresindustry.org X 1955 NY THE FUTURES INDUSTRY ASSOCIATION'S MISSION IS TO BE THE GLOBAL THOUGHT LEADER, ADVOCATE AND EDUCATOR FOR FUTURES AND SWAPS WHICH ARE CENTRALLY CLEARED. 26 23 49 23 141848 -130741 0 0 18269093 25180308 2587 81 39910 125091 18311590 25305480 45830 68135 0 0 7715395 7645657 0 0 0 10277635 17798743 18038860 25512535 272730 -207055 14473041 14741961 5757917 6318459 8715124 8423502 X See Schedule O. false false The association is a US based international association which acts as a principal spokesman for the futures, options and financial risk management industry. FIA's membership represents all facets of the industry. FIA works actively to preserve the system of free and competitive markets by representing the interests of the industry in connection with business, regulatory exchange, international and legislative issues. CCP Risk Review is a plain language summary and analysis of the rules and procedures of CCPs worldwide. It serves as a comprehensive guide to the complex and frequently updated rules governing CCPs and their associated services. CCP Risk Review assists market participants and regulators in scrutinizing and understanding the risks relating to CCPs for both clearing members and clients. The interactive nature of the product allows a client to compare CCP rules across the various CCPs. false false false true false false false false false true false false true true true false true false false true false false false false false false true false true false false false false false false false false false false false true true true false true 42 0 true 49 true true true true UK false false false false X 26 23 false false false false true true true true true false true true false true true true true true true true true true DC X R GUY SHEETZ 2024665460 2001 PENNSYLVANIA AVE NW SUITE 60 Washington DC 20006 Walter Lukken President & CEO 50.0 15.0 X X 1147039 0 50248 Michael R Schaefer Public Director 1.0 0.0 X 20000 0 0 Alice P White Public Director 1.0 0.0 X 20000 0 0 Gerald Corcoran Chairman 1.0 0.0 X X 0 0 0 Emily Portney Secretary 1.0 0.0 X X 0 0 0 M Clark Hutchison Treasurer 1.0 0.0 X X 0 0 0 Craig Abruzzo Member - BOD 1.0 0.0 X 0 0 0 Antoine Babule Member - BOD 1.0 0.0 X 0 0 0 Jan Bart de Boer Member - BOD 1.0 0.0 X 0 0 0 Patrice Blanc Member - BOD 1.0 0.0 X 0 0 0 Clive Christison Member - BOD 1.0 0.0 X 0 0 0 Robert Creamer Member - BOD 1.0 0.0 X 0 0 0 Michael Dawley Member - BOD 1.0 0.0 X 0 0 0 Maureen Downs Member - BOD 1.0 0.0 X 0 0 0 Thomas Erickson Member - BOD 1.0 0.0 X 0 0 0 Richard Gorelick Member - BOD 1.0 0.0 X 0 0 0 Arthur W Hahn Member - BOD 1.0 0.0 X 0 0 0 Chris Hehmeyer Member - BOD 1.0 0.0 X 0 0 0 Jeffrey D Jennings Member - BOD 1.0 0.0 X 0 0 0 Thomas Kadlec Member - BOD 1.0 0.0 X 0 0 0 Raymond Kahn Member - BOD 1.0 0.0 X 0 0 0 Jerome D Kemp Member - BOD 1.0 0.0 X 0 0 0 Najib Lamhaouar Member - BOD 1.0 0.0 X 0 0 0 Edward Pla Member - BOD 1.0 0.0 X 0 0 0 Kenneth m Raisler Member - BOD 1.0 0.0 X 0 0 0 George Simonetti Member - BOD 1.0 0.0 X 0 0 0 George Crapple Member - BOD (End March 2015) 1.0 0.0 X 0 0 0 Jeffrey Howard Member - BOD (End March 2015) 1.0 0.0 X 0 0 0 Peter Johnson Member - BOD (End March 2015) 1.0 0.0 X 0 0 0 Edward J Rosen Member - BOD (End March 2015) 1.0 0.0 X 0 0 0 Mary Ann Burns EVP & COO 35.0 30.0 X 771722 0 45567 R Guy Sheetz SVP, CFO & CAO 45.0 20.0 X 379613 0 45450 Allison Lurton General Counsel 45.0 0.0 X 456240 0 50126 William Acworth SVP, Communications 45.0 0.0 X 219500 0 45800 Dawn Stump SVP, Government Affairs 45.0 0.0 X 318852 0 27126 Antoinette Chan VP, Business Development 37.5 0.0 X 262548 0 49930 Jacqueline Mesa SVP & Director Intl Relations 37.5 0.0 X 470447 0 33332 Charles Jones VP, Global Brand Management 37.5 0.0 X 193921 0 26945 Barbara Wierzynski Former Officer (End 12/31/14) 40.0 0.0 X 360000 0 0 4619882 0 374524 10 true true false Millbank One Chase Manhattan Plaza NEW YORK NY 10005 Legal 1770941 Boca Raton Resort and Club 501 East Camino Real BOCA RATON FL 33432 Venue 607555 Cadwalader Wickersham Taft PO Box 5929 NEW YORK NY 10087 Legal 445478 Bryan Cave LLP PO Box 503089 ST LOUIS MO 63150 Legal 324029 Delta Strategy Group 600 Pennsylvania Ave SE WASHINGTON DC 20003 Consulting 323540 5 0 CONFERENCE REGISTRATION, SPONSORSHIPS 900099 5462941 5462941 MEMBER DUES 900099 11923522 11923522 MAGAZINE ADVERTISING REVENUE 900099 103098 103098 CCP RISK REVIEW STUDIES 900099 7686547 7686547 VOLUME REPORT REVENUE 900099 4200 4200 25180308 81 81 0 13163 13163 0 0 0 0 0 0 0 CONFERENCE MANAGEMENT FEE 900099 62500 62500 SERVICE FEE MARKUP 900099 38750 38750 MISCELLANEOUS 900099 10678 10678 111928 25305480 25139710 141848 23922 68135 0 0 0 1607575 0 4779151 372675 492590 393666 0 8816077 78268 714719 0 0 1827166 22737 613527 89202 0 709461 604431 0 3267375 0 250352 240139 33710 BANK CHARGES 173193 SPEAKER FEES 153758 RECRUITMENT FEES 58366 TAXES AND LICENSES 26470 119792 25512535 10029850 10966759 0 0 0 0 949033 1385036 0 0 0 0 0 0 0 0 1871850 344116 1384043 719083 669965 664960 0 0 0 0 0 0 0 0 952343 1381090 14473041 14741961 2737819 3787857 0 0 2357939 1914063 0 0 0 0 0 0 0 0 0 0 662159 616539 5757917 6318459 X 8715124 8423502 0 0 0 0 8715124 8423502 14473041 14741961 X -207055 -84567 X false true X true false false false true 11923522 714719 714719 715411 218262 90643 127619 414827 232816 182011 750954 395624 355330 664960 DUE FROM RELATED ENTITIES 691770 INVESTMENT IN SUBSIDIARY 689320 1381090 0 DEFERRED RENT 616539 616539 X LIABILITY FOR UNCERTAIN TAX POSITION (ASC 740) PART X, LINE 2 The Association is recognized by the IRS as exempt from income tax under Section 501(c)(6) of the Code. Pursuant to the Code and applicable state regulations, the Association is exempt from income tax except for income taxes on unrelated business activities. For financial statement purposes, the Association is required to record a liability for any material tax position taken which does not meet the minimum threshold of "more likely than not" to be successful under regulatory challenge. Revenue from advertising and service transaction agreements is taxable as unrelated business income. For 2015 and 2014, the Association has recorded a provision for income taxes of $4,329 and $5,812, respectively, for unrelated business income. false Europe (Including Iceland and Greenland) Program Services Industry trade show 637019 East Asia and the Pacific Program Services Industry trade show 812800 Europe (Including Iceland and Greenland) Program Services Euro member support 607905 2057724 2057724 false false false false false false Accounting Method Used SCHEDULE F, PART I, LINE 3, COLUMN F THE EXPENDITURES, PER REGION, ARE PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. true Scholarship America Inc One Scholarship Way Saint Peter MN 56082 042296967 501(c)(3) 25000 General support Greater Chicago Food Depository 4100 W Ann Lurie Place Chicago IL 60632 362971864 501(c)(3) 31140 General support 2 PROCEDURE FOR MONITORING USE OF GRANT FUNDS INSIDE U.S. Schedule I, Part I, Line 2 Assistance is provided to unrelated organizations as determined by the FIA Divisions. The FIA Divisions have working relationships with each charitable organization and informally monitor the use of funds for assistance through consistent interaction. X X X false false false Walter Lukken President & CEO 478458 0 650000 0 18581 0 23850 0 26398 0 1197287 0 0 0 Mary Ann Burns EVP & COO 328722 0 425000 0 18000 0 23850 0 21717 0 817289 0 0 0 R Guy Sheetz SVP, CFO & CAO 201032 0 160000 0 18581 0 23850 0 21600 0 425063 0 0 0 Allison Lurton General Counsel 365659 0 90000 0 581 0 23850 0 26276 0 506366 0 0 0 William Acworth SVP, Communications 184500 0 35000 0 0 0 19755 0 26045 0 265300 0 0 0 Dawn Stump SVP, Government Affairs 243271 0 75000 0 581 0 23850 0 3276 0 345978 0 0 0 Antoinette Chan VP, Business Development 262548 0 0 0 0 0 23629 0 26301 0 312478 0 0 0 Jacqueline Mesa SVP & Director Intl Relations 369866 0 100000 0 581 0 23850 0 9482 0 503779 0 0 0 Charles Jones VP, Global Brand Management 173190 0 20150 0 581 0 17453 0 9492 0 220866 0 0 0 Barbara Wierzynski Former Officer (End 12/31/14) 360000 0 0 0 0 0 0 0 0 0 360000 0 0 0 Bonus and Compensation Schedule J, Part II The Compensation Committee of the Board of Futures Industry Association was diligent in obtaining and reviewing market data to assess a bonus payment to Mr. Lukken. His compensation, as well as the compensation of others, was discussed and reviewed in detail at a meeting of the Board. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1 THE FUTURES INDUSTRY ASSOCIATION'S MISSION IS TO BE THE GLOBAL THOUGHT LEADER, ADVOCATE AND EDUCATOR FOR FUTURES AND SWAPS WHICH ARE CENTRALLY CLEARED. AS THE PRIMARY INDUSTRY ASSOCIATION FOR CENTRALLY CLEARED FUTURES AND SWAPS, FIA: - STRIVES TO PRESERVE THE SYSTEM OF FREE AND COMPETITIVE MARKETS AND PROTECT THE PUBLIC INTEREST THROUGH ADHERENCE TO HIGH STANDARDS OF PROFESSIONAL CONDUCT AND FINANCIAL INTEGRITY, AND PROMOTE PUBLIC TRUST AND CONFIDENCE IN THE CLEARED MARKETS - ENGAGES IN REGULATORY AND LEGISLATIVE ADVOCACY THAT IS BASED UPON COMPREHENSIVE ANALYSIS, MEMBER CONSENSUS, INDUSTRY BEST PRACTICES, AND IN THE INTEREST OF FAIR AND EFFICIENT CAPITAL MARKETS - SEEKS TO COLLABORATE WITH REGULATORS, LEGISLATORS, AND OTHER TRADE ASSOCIATIONS GLOBALLY TO ANTICIPATE AND FULFILL MEMBERS' CURRENT AND FUTURE NEEDS - PROVIDES A FORUM FOR DISCUSSION ON CORE ISSUES WITH A GOAL OF BUILDING CONSENSUS ACROSS INDUSTRY STAKEHOLDERS - DELIVERS ACTIONABLE SOLUTIONS AND TECHNOLOGICAL TOOLS TO ADDRESS MARKET INEFFICIENCIES AND OTHER CHALLENGES - SERVES AS A CRITICAL SOURCE OF INDUSTRY INFORMATION THROUGH CONFERENCES, EDUCATIONAL PROGRAMS, PUBLICATIONS, AND RAPID DISSEMINATION OF INDUSTRY NEWS, ALL RICH WITH IN-DEPTH DISCUSSION AND ANALYSIS OF CORE INDUSTRY ISSUES. Information about Membership Form 990, Part VI, Line 1B The FIA is a membership corporation with global reach and strives to promote good communications and better decision making by engaging a broadly representative group of Board Directors. The FIA Board has not more than 29 Directors who are elected by the Association's Regular Member or Associate Member firms. Not more than 10 Directors shall be Associate-member Directors. At the pleasure of the Board, there may also be up to four (4) Public Directors. In addition, the President of FIA serves on the Board as a voting member. All Board members have one vote each. The FIA Board includes up to four (4) voting members who may be, but are not required to be, independent of Association members. These independent members (Public Directors) are individuals who, in the opinion of the Board, have demonstrated the ability to represent the public interest, including the broad spectrum of "users" of the futures markets If employed by a regular or associate member firm, a Public Director must be an individual whose primary responsibility is not associated with futures brokerage, commodity pool operators, or commodity trading advisors. Supply specialized areas of expertise or perspectives that either are not appropriate to obtain or not available from Regular and Associate Member firms. For the purposes of Form 990, a member of FIA's governing body is considered "independent" only if all four of the following circumstances applied at all times during FIA's January 1, 2015 - December 31, 2015 tax year: 1. Not compensated as an FIA officer or other employee or related organization 2. Did not receive more than $10,000 compensation in 2015 from FIA or related organizations as an independent contractor, other than for his/her services as a member of FIA's governing body 3. Did not otherwise receive, directly or indirectly, more than $50,000 in 2015 financial benefits from FIA or a related organization 4. Did not have a family member who received compensation or other material financial benefits from FIA or a related organization Under this definition, the FIA's Public Directors qualify as "independent" with the exception of FIA's President, Walter Lukken, who is a full-time paid employee of FIA. MEMBERS OR STOCKHOLDERS Form 990, Part VI, Line 6 FIA membership classes are composed of Regular Members, and Associate Members as defined below. FIA members have the right to elect FIA Board Directors when a seat becomes available through resignation, term expiration, or other events. Regular Members Definition: Any partnership, corporation, association or sole proprietorship registered as a futures commission merchant or as an introducing broker with the Commodity Futures Trading Commission is eligible for election as a regular member of the Association, subject to provisions as stated in Bylaws. Associate Members Definition: Any person, partnership, association or corporation directly or indirectly associated with the commodity futures business, international or domestic (other than a futures commission merchant eligible for election as a regular member) or whose primary business purpose is the solicitation, recruitment or placement of executives, representatives, agents, brokers or other employees, is eligible for election as an associate member of the Association provided that they are of good business reputation. The FIA ByLaws further detailing the eligibility, rights and responsibilities of Association and Board members are available upon request. MEMBERS OR STOCKHOLDERS WHO MAY ELECT & DECISIONS SUBJECT TO APPROVAL FORM 990, PART VI, LINE 7A & 7B Representatives of the regular and associate member firms elect the individuals who serve on the board of directors. Our trade association's members cannot vote directly on governance issues. That authority is reserved for the Board Directors representing them. Governance responsibilities are concentrated into four or five officers of the board of directors and Committees of the Board of Directors. Officers consist of the President, Chairman, Vice Chairman, a Secretary-Treasurer and one or more Vice Presidents as determined by the Board. Officers are elected by the FIA Board. Committees consist of Executive Audit; Dues Membership; Nominating; and Compensation. FORM 990 REVIEW PROCESS Form 990, Part VI, Line 11b CFO conducted review in collaboration with an independent accounting firm. Discussion was held at the executive level within the organization. CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT Form 990, Part VI, Line 12c FIA Conflict of Interest Policy: An FIA officer, member of the board or employee ("such persons") assumes a fiduciary duty that carries with it broad and unbending loyalty to the FIA. The Board, officers and employees have the responsibility to administer the affairs of the association honestly and prudently for the sole benefit of the organization. Such persons shall exercise the utmost good faith in all matters involved in their duties, and they shall not use their positions within the organization or knowledge gained from the organization for their personal benefit. It is the policy of the FIA to require such persons to supply a written declaration of their engagement in any activity that relates to those activities of the FIA and could contribute to or affect the success of the FIA, or may create a conflict of interest with the FIA. The conflicts may include an ownership interest in an entity from which the organization procures goods or services, or other transactions carrying the possibility of personal gain at the expense of FIA, or any transaction in which FIA is doing business with a family member or business partner of such persons. Known or possible conflicts calling for disclosure also include: -Any other entity involvement conflicts; -Subject matter conflicts; -Conflicts of current or potential financial interest, ownership, compensation in an organization that is a vendor to FIA apart from known partnerships or memberships; -Family conflicts; -Other Board/Client conflicts; -Other conflicts that such person recognizes to be as such through analogy of those mentioned above. The FIA recognizes that disclosure of a conflict or a possible conflict does not preclude the entity from doing business with a related party. However, such persons having a conflict of interest shall not participate or use any personal influence in the discussion of the subject or make any recommendations regarding the subject and will excuse him or herself from all decision-making regarding the topic. The FIA Audit Committee is charged with responsibility for reviewing all disclosures or related activities or conflicts of interest. All officers, members of the board, and employees of FIA are required to report annually, or upon occurrence, their disclosure of conflicts using the standard FIA form provided. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, LINE 15A The Chairman of the FIA Board of Directors serves as Chair for both the Executive Committee and the Compensation Committee. The Executive Committee also has authority to determine the number and compensation of any paid Directors. All officers, except as the Board determines, serve without compensation. In the Fourth Quarter of each calendar year, the FIA Board's Executive Committee and Compensation Committee determines the following year's compensation of FIA's senior management with contemporaneous substantiation of the deliberation and decision. In addition, during the Fourth Quarter of each year the Compensation Committee reviews and approves the following year's compensation proposals for all other FIA employees after considering compensation metrics for similar organizations. Compensation guidelines and recommendations are based upon employee responsibility and performance and on industry and position-specific market data from sources such as the ASAE. Therefore, THE PROCESS FOR DETERMINING THE COMPENSATION OF ALL EMPLOYEES INCLUDED A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. This process was most recently completed in the Fourth Quarter of 2015. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, LINE 15B THE PROCESS FOR DETERMINING THE COMPENSATION OF ALL EMPLOYEES INCLUDED A REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC Form 990, Part VI, Line 19 The FIA makes its governing documents, conflict of interest policy, and financial statements available to the public upon request to the extent required by law. OTHER CHANGES IN NET ASSETS OR FUND BALANCES Form 990, Part XI, Line 9 Foreign Exchange Rate Adjustment $(84,567) ----------- Total Other Changes in Net Assets $(84,567) The Institute for Financial Markets 2001 Pennsylvania Ave NW Washington DC 20006 521634508 Educational DC 501(C)(3) 09 FIA true FIA Asia Inc 2002 Pennsylvania Ave NW Washington DC 20006 352329204 Member Assoc. DE 501(C)(6) N/A FIA true Markets Association 2003 Pennsylvania Ave NW Washington DC 20006 522304754 Member Assoc. DC 503(C)(6) N/A FIA true FIA Global Inc 2001 Pennsylvania Ave NW Washington DC 20006 464617924 Member Assoc. DC 501(c)(6) N/A FIA true FIA Technology Services Inc 2001 Pennsylvania Ave ste 600 Washington DC 20006 300472383 Data Storage DC FIA C Corp 6629260 5851978 1.00000 true true true false false false false false false false false false false false true true false true false false FIA Technology Services Inc a 160000 Institute for Financial Markets n 133729 FIA Technology Services Inc n 160600 Institute for Financial Markets o 116623 FIA Technology Services Inc o 192740