2025-11-13T03:56:54-06:00 2024-12-31 420714325 RSM US LLP 1001 WATER ST STE 500 TAMPA FL 33602 990 2024-01-01 462258052 STRUCTURED FINANCE INDUSTRY GROUP INC STRU 2025246300 1776 I STREET NW 200 WASHINGTON DC 20006 COVELL ADAMS CHIEF OPERATING OFFICER 2025246300 2025-11-12 1 0 KRISTEN BARNETT P01234578 8133162300 2025-11-12 2024 2025-03-06 01:10:19Z X STRUCTURED FINANCE ASSOCIATION MICHAEL BRIGHT 1776 I STREET NW 200 WASHINGTON DC 20006 15423194 0 X WWW.STRUCTUREDFINANCE.ORG X 2013 DE STRUCTURED FINANCE ASSOCIATION WAS ESTABLISHED WITH THE CORE MISSION OF SUPPORTING A ROBUST AND LIQUID SECURITIZATION MARKET, RECOGNIZING THAT SECURITIZATION IS AN ESSENTIAL SOURCE OF CORE FUNDING FOR THE REAL ECONOMY. 35 35 25 3500 0 0 0 0 14046498 14494056 483315 924915 3514 4223 14533327 15423194 0 0 0 0 6661460 7505016 0 0 0 5071896 5689586 11733356 13194602 2799971 2228592 24551087 27559428 10903432 11654495 13647655 15904933 STRUCTURED FINANCE ASSOCIATION WAS ESTABLISHED WITH THE CORE MISSION OF SUPPORTING A ROBUST AND LIQUID SECURITIZATION MARKET, RECOGNIZING THAT SECURITIZATION IS AN ESSENTIAL SOURCE OF CORE FUNDING FOR THE REAL ECONOMY. 0 0 CONFERENCES OUR EVENTS WERE ATTENDED BY OVER 10,000 MEMBERS OF THE STRUCTURED FINANCE INDUSTRY IN 2024, INCLUDING OUR FLAGSHIP CONFERENCE, SFVEGAS. WITH OVER 300 SPEAKERS, MORE THAN 70 PANELS, OVER A DOZEN KEYNOTES, AND COUNTLESS OPPORTUNITIES FOR NETWORKING, SFVEGAS IS THE PREMIER EVENT IN THE STRUCTURED FINANCE INDUSTRY. EDUCATION SFA'S NEWEST EDUCATIONAL INITIATIVE, SFACADEMY, RELEASED 10 MODULES IN 2024 FEATURING MEMBERS THAT ARE USED IN TRAINING STAFF, INCREASING KNOWLEDGE, AND UPDATING VIEWERS ON NEW ISSUES IN THE FIELD OF STRUCTURED FINANCE. CONSENSUS WITH OVER 360 MEMBERS, WE RUN OVER 30 COMMITTEES AND TASK FORCES WHICH EVALUATE THE LATEST IN POLICY ANNOUNCEMENTS AND DETERMINE THE INDUSTRY RESPONSE 0 0 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 25 0 1 25 1 0 0 0 0 1 1 0 1 0 X 35 35 0 0 0 0 1 0 0 1 0 0 0 0 1 0 1 0 0 1 1 0 X COVELL ADAMS COO 2025246300 1776 I STREET NW 200 WASHINGTON DC 20006 NANCY MUELLER HANDAL CHAIR 1.50 1.00 X X 0 0 0 DONEENE DAMON VICE CHAIR 1.50 X X 0 0 0 MARLO YOUNG SECRETARY 1.50 X X 0 0 0 AASHH PAREKH TREASURER 1.50 1.00 X X 0 0 0 MICHAEL BROWN DIRECTOR - EXECUTIVE COMMITTEE 1.00 X 0 0 0 JENNIFER DOYLE DIRECTOR - EXEC COMM (UNTIL 12/2024) 1.00 X 0 0 0 ARMANDO FALCON DIRECTOR - EXEC COMM (UNTIL 12/2024) 1.00 X 0 0 0 KYRA FECTEAU DIRECTOR - EXECUTIVE COMMITTEE 1.00 X 0 0 0 SHELI FITZGERALD DIRECTOR - EXEC COMM (UNTIL 12/2024) 1.00 X 0 0 0 FERRA AZEEZ-MELLAND DIRECTOR 1.00 X 0 0 0 NATALEE BINKHOLDER DIRECTOR (UNTIL 12/2024) 1.00 X 0 0 0 JON BOSWELL DIRECTOR (UNTIL 12/2024) 1.00 X 0 0 0 MICHAEL CANTER DIRECTOR 1.00 X 0 0 0 WENDY COHN DIRECTOR 1.00 X 0 0 0 MATTHEW HAYS DIRECTOR 1.00 X 0 0 0 ADAMA KAH DIRECTOR (UNTIL 12/2024) 1.00 X 0 0 0 SONG KIM DIRECTOR 1.00 X 0 0 0 ALBERTA KNOWLES DIRECTOR 1.00 X 0 0 0 MIA KOO DIRECTOR 1.00 X 0 0 0 DAVE KUCERA DIRECTOR 1.00 X 0 0 0 ANDI MANDELL DIRECTOR (UNTIL 12/2024) 1.00 X 0 0 0 AMY MCDANIEL WILLIAMS DIRECTOR 1.00 X 0 0 0 MARK MICHAEL DIRECTOR (UNTIL 12/2024) 1.00 X 0 0 0 STEVE MOFFITT DIRECTOR (UNTIL 12/2024) 1.00 X 0 0 0 MICHELE OLDS DIRECTOR (UNTIL 12/2024) 1.00 X 0 0 0 CHARLIE SWEET DIRECTOR (UNTIL 12/2024) 1.00 X 0 0 0 BRYAN TSU DIRECTOR 1.00 X 0 0 0 WILLIAM CHANG DIRECTOR (UNTIL 12/2024) 1.00 X 0 0 0 LORITTA CHENG DIRECTOR 1.00 X 0 0 0 PATRICK DOLAN DIRECTOR 1.00 X 0 0 0 JOANNE GASKIN DIRECTOR (UNTIL 9/2024) 1.00 X 0 0 0 ROSEMARY KELLEY DIRECTOR 1.00 X 0 0 0 RICH LAWRENCE DIRECTOR 1.00 X 0 0 0 MATTHEW MARTEL DIRECTOR 1.00 X 0 0 0 JENNIFER THOMAS DIRECTOR 1.00 X 0 0 0 JASON VALENTINO DIRECTOR (UNTIL 12/2024) 1.00 X 0 0 0 JULIE MAY DIRECTOR (FROM 10/2024) 1.00 X 0 0 0 DAVID ELLS DIRECTOR (FROM 10/2024) 1.00 X 0 0 0 CHRISTIE TINTLE-MURPHY DIRECTOR (FROM 12/2024) 1.00 X 0 0 0 MATTHEW JOSEPH DIRECTOR (FROM 12/2024) 1.00 X 0 0 0 BRIAN APPEL DIRECTOR (FROM 12/2024) 1.00 X 0 0 0 CHRISTOPHER SCOTT DIRECTOR (FROM 12/2024) 1.00 X 0 0 0 ELIZA KWONG DIRECTOR (FROM 12/2024) 1.00 X 0 0 0 JASON SOLOMON DIRECTOR (FROM 12/2024) 1.00 X 0 0 0 JULIE GILLESPIE DIRECTOR (FROM 12/2024) 1.00 X 0 0 0 KEVIN LUNDQUIST DIRECTOR (FROM 12/2024) 1.00 X 0 0 0 NATHAN HERBERT DIRECTOR (FROM 12/2024) 1.00 X 0 0 0 NICK SMITH DIRECTOR (FROM 12/2024) 1.00 X 0 0 0 SPENCER MOSNESS DIRECTOR (FROM 12/2024) 1.00 X 0 0 0 GREG WESTON DIRECTOR (UNTIL 12/2024) 1.00 X 0 0 0 MICHAEL BRIGHT CHIEF EXECUTIVE OFFICER 39.00 1.00 X 1336601 0 67635 COVELL ADAMS CHIEF OPERATING OFFICER 39.00 1.00 X 737746 0 70428 SCOTT FRAME CHIEF ECONOMIST 40.00 X 583612 0 24986 ELEN CALLAHAN HEAD OF RESEARCH 40.00 X 449398 0 61636 LESLIE SACK DIRECTOR OF GOVERNMENT RELATIONS 40.00 X 378024 0 62003 DAVID DWYER GENERAL COUNSEL 40.00 X 413001 0 37403 DALLIN MERRILL SENIOR DIRECTOR MBS POLICY 40.00 X 304635 0 55341 4203017 0 379432 13 0 1 0 MORGAN LEWIS & BOCKIUS LLP 1701 MARKET STREET PHILADELPHIA PA 19103 LEGAL SERVICES 314387 CAPSTONE 1401 NEW YORK AVE NW SUITE 600 WASHINGTON DC 20005 CONSULTING 270000 LEADING AUTHORITIES 1725 I STREET NW SUITE 200 WASHINGTON DC 20006 SPEAKER AT EVENT 232650 BGR GOVERNMENT AFFAIRS LLC 601 13TH STREET NW WASHINGTON DC 20005 PUBLIC RELATIONS CONSULTING 222000 HARRY WALKER AGENCY 355 LEXINGTON AVE 21ST FLOOR NEW YORK NY 10017 SPEAKER AT EVENT 186807 10 CONFERENCE REVENUE 900099 8100131 2729444 5370687 MEMBERSHIP DUES 900099 6393925 6393925 14494056 924915 924915 OTHER INCOME 900099 4223 4223 4223 15423194 9123369 0 6299825 2229973 4341482 181793 372264 379504 213151 115212 846667 473263 342833 56048 199889 529948 253763 2161676 41676 7860 COMMENT LETTERS 231903 DUES, LICENSES AND SUBS 117453 OTHER EXPENSES 98244 13194602 22814112 25863339 5000 609098 878195 453790 411322 75841 42468 1052036 770426 24551087 27559428 1481033 2175731 8224476 8647323 1197923 831441 10903432 11654495 X 13647655 15904933 13647655 15904933 24551087 27559428 2228592 28686 0 X 0 1 X 1 0 0 0 1 6393925 797325 797325 391179 406146 453790 411322 42468 42468 LEASE LIABILITY, NET - OPERATING 631441 DUE TO FOUNDATION 200000 831441 X 15541780 28686 89900 118586 15423194 0 15423194 13319786 125184 125184 13194602 0 13194602 PART X, LINE 2: SFA AND SFC HAVE BEEN APPROVED FOR TAX EXEMPT STATUS UNDER SECTION 501(C)(6) AND THE FOUNDATION HAS BEEN APPROVED FOR TAX EXEMPT STATUS UNDER 501(C)(3) OF THE CODE AND HAS BEEN DETERMINED TO NOT BE A PRIVATE FOUNDATION. SFC PAC IS EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER SECTION 527(F)(3) OF THE CODE ON ITS EXEMPT ACTIVITIES INCOME. NO SIGNIFICANT UNRELATED BUSINESS INCOME TAX EXPENSE HAS BEEN RECOGNIZED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT EVALUATED EACH ENTITY'S TAX POSITION AND CONCLUDED THAT THE ENTITIES HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITY REVENUE INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 89,900. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITY EXPENSES INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS 125,184. X X X X 0 0 0 MICHAEL BRIGHT CHIEF EXECUTIVE OFFICER 767403 0 567938 0 1260 0 20700 0 46935 0 1404236 0 0 0 COVELL ADAMS CHIEF OPERATING OFFICER 511486 0 225000 0 1260 0 20700 0 49728 0 808174 0 0 0 SCOTT FRAME CHIEF ECONOMIST 550000 0 30000 0 3612 0 20700 0 4286 0 608598 0 0 0 ELEN CALLAHAN HEAD OF RESEARCH 370786 0 75000 0 3612 0 14269 0 47367 0 511034 0 0 0 DAVID DWYER GENERAL COUNSEL 396069 0 15000 0 1932 0 17367 0 20036 0 450404 0 0 0 LESLIE SACK DIRECTOR OF GOVERNMENT RELATIONS 317184 0 60000 0 840 0 11725 0 50278 0 440027 0 0 0 DALLIN MERRILL SENIOR DIRECTOR MBS POLICY 243795 0 60000 0 840 0 10475 0 44866 0 359976 0 0 0 FORM 990, PART I, LINE 6, NUMBER OF VOLUNTEERS: WE ARE A MEMBER DRIVEN ORGANIZATION, AND OUR COMMENT LETTERS REFLECT THE OPINIONS OF OUR MEMBERSHIP. INDIVIDUALS CONTRIBUTING THEIR OPINIONS MAY BE APPROXIMATELY 3,500. FORM 990, PART VI, SECTION A, LINE 6 STRUCTURED FINANCE ASSOCIATION HAD APPROXIMATELY 360 MEMBERS AS OF DECEMBER 31, 2024. THERE ARE TWO TYPES OF CLASSES AS DEFINED IN THE BY-LAWS. PRIMARY MEMBERSHIPS ARE OPEN TO INSTITUTIONAL CORPORATIONS AND ASSOCIATE MEMBERSHIPS ARE OPEN TO INDIVIDUALS (NON-VOTING RIGHTS). FORM 990, PART VI, SECTION A, LINE 8B STRUCTURED FINANCE ASSOCIATION HAD 35 INSTITUTIONAL MEMBERS ON ITS BOARD AS OF DECEMBER 31, 2024, MOST OF WHOM SERVE ON ONE OR MORE COMMITTEES. ACTIONS TAKEN BY THE STANDING COMMITTEES AS DEFINED IN THE BYLAWS ARE APPROVED BY BOD DURING THE QUARTERLY MEETINGS FORM 990, PART VI, SECTION B, LINE 11B THE CHIEF OPERATING OFFICER REVIEWS THE 990 IN DETAIL WITH THE CONTROLLER PRIOR TO FILING; GENERAL REVIEW IS CONDUCTED BY THE CEO AND THE CHAIR OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C PER OUR BYLAWS ARTICLE VIII, COMMITTEES, SECTION 5, QUORUM & VOTING - IF A MEMBER IS COMPRISED OF MULTIPLE ENTITIES, EACH PERFORMING AN INDEPENDENT FUNCTION (E.G. FINANCIAL GUARANTOR, ISSUER, BROKER/DEALER, INVESTOR, ETC.), SUCH MEMBER'S REPRESENTATIVES SHALL BE ENTITLED TO VOTE ON MORE THAN ONE MEMBER COMMITTEE; PROVIDED THAT SUCH MEMBER, WITH REGARD TO THE COMMITTEE AT ISSUE, DOES NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE SUBJECT MATTER OF THE RELEVANT VOTE INCLUDING, FOR EXAMPLE, ON ACCOUNT OF THE CONTROL OF ONE RELATED ENTITY BY ANOTHER OR THE OVERWHELMING INTEREST OF THE INSTITUTION AS A WHOLE. ANY COMMITTEE MEMBER WHO BELIEVES THAT ANOTHER COMMITTEE MEMBER HAS BEEN IMPROPERLY PERMITTED TO VOTE ON A MATTER WHERE THE RELEVANT MEMBER HAS SUCH CONFLICT OF INTEREST MAY APPEAL SUCH CONFLICTED COMMITTEE MEMBER'S VOTE TO THE CEO, WHO SHALL REVIEW AND DECIDE WHETHER TO PERMIT THE VOTE TO COUNT, IN CONSULTATION WITH THE EXECUTIVE COMMITTEE. THE DECISION OF THE CEO, IN CONSULTATION WITH THE EXECUTIVE COMMITTEE, SHALL BE CONCLUSIVE AND BINDING AND APPEALABLE SOLELY TO THE CONFLICT RESOLUTION COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 STRUCTURED FINANCE INDUSTRY GROUP HAS ORGANIZED A COMPENSATION COMMITTEE THAT CONSISTS OF SEVEN (7) MEMBERS: AT LEAST FOUR (4) MEMBERS OF THE BOARD, OF WHICH AT LEAST TWO (2) OF WHOM SHALL NOT BE OFFICERS, AND UP TO TWO (2) NON-BOARD MEMBER REPRESENTATIVES. THE COMPENSATION STRUCTURE FOR SFIG IS TO A DEGREE DISCRETIONARY, DUE TO THE REQUIREMENTS OF STAFF NEEDING TO APPLY A SIGNIFICANT DEGREE OF STRUCTURED FINANCE EXPERTISE COMBINED WITH SKILLSETS RELATED TO D.C. ADVOCACY WITHIN A NON-PROFIT/TRADE ORGANIZATION STRUCTURE. THIS HYBRID EXPERIENCE REQUIREMENT MAKES SPECIFIC BENCHMARKING DIFFICULT IN THAT THE AVAILABILITY OF RELEVANT PUBLIC DATA IS EXTREMELY LIMITED. AS SUCH, THE ORGANIZATION RELIES UPON THE DEEP EXPERIENCE PROVIDED VIA THE MEMBERS OF THE COMPENSATION COMMITTEE ACROSS MULTIPLE INDUSTRY PLATFORMS, GIVING REGARD TO THE FOLLOWING FIVE KEY FACTORS: I) KNOWLEDGE OF EXISTING COMPENSATION FOR SUCCESSFUL CANDIDATES (BENCHMARKING TO SIMILAR POSITIONS), II) KNOWLEDGE OF REQUIRED COMPENSATION FOR ALL VIABLE CANDIDATES (I.E., THOSE SELECTED FOR INTERVIEW (RANGE BOUNDING COMPENSATION), III) REFERENCE TO BUDGET BASED OFF ASSESSMENT OF ACHIEVEMENT OF INDIVIDUAL, DEPARTMENTAL AND CORPORATE GOALS THAT ARE ESTABLISHED ANNUALLY, IV) REFERENCE TO GENERALLY "WELL-KNOWN" FINANCIAL SERVICES COMPENSATION MODELS, AND V) BENCHMARK AGAINST OTHER ASSOCIATIONS OF SIMILAR SIZE AND NATURE WITH SPECIFIC EMPHASIS ON KEY RATIOS SUCH AS SALARIES TO INCOME, SALARIES TO PROFITS, SALARIES TO MEMBERSHIP FEES. THE PROCESS ALSO APPLIES TO OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE AVAILABLE UPON EMAIL REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). BY-LAWS ARE AVAILABLE TO MEMBERS ONLY, BY EMAIL REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). SFIG FOUNDATION INC 1776 I STREET NW STE 200 WASHINGTON DC 20006 813982260 CHARITABLE ORGANIZATION NY 501(C)(3) LINE 12A, I STRUCTURED FINANCE INDUSTRY GROUP INC 1 STRUCTURED FINANCE COALITION INC 1776 I STREET NW STE 200 WASHINGTON DC 20006 815393177 TRADE ASSOCIATION DE 501(C)(6) STRUCTURED FINANCE INDUSTRY GROUP INC 1 STRUCTURED FINANCE COALITION INC POLITICAL ACTION COMMITTEE 1776 I STREET NW STE 200 WASHINGTON DC 20006 815400419 PAC DE 527 STRUCTURED FINANCE COALITION INC 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 SFIG FOUNDATION O 106394 TIMESHEETS STRUCTURED FINANCE COALITION INC O 201487 TIMESHEETS SFIG FOUNDATION P 200000 COST SFIG FOUNDATION Q 215605 COST