2015-11-11T19:04:54-06:00 2014-12-31 Grant Thornton LLP 2010 CORPORATE RIDGE SUITE 400 MCLEAN VA 22102 990 2014-01-01 521634508 The Institute for Financial Markets % R GUY SHEETZ INST 2022231528 2001 Pennsylvania Ave NW Ste 600 Washington DC 20006 PATRICIA FOSHEE PRESIDENT 2022231528 2015-11-11 true Mary Torretta P00847851 7038477500 2014 2016-04-25 22:37:26Z Patricia Foshee 2001 Pennsylvania Ave NW Washington DC 20006 2237296 false X www.theifm.org X 1989 DC The Institute's mission focuses on three primary areas - education, ethics and data directed at improving the financial services industry. 15 13 11 13 0 -250 25500 5000 1848412 1866734 117760 59936 0 4800 1991672 1936470 39725 10000 0 0 862440 825778 0 0 0 669981 758552 1572146 1594330 419526 342140 4093855 4629936 2175790 2194551 1918065 2435385 X SEE SCHEDULE O. false false 16853 10000 25000 The development of products and market-based educational materials directed to industry professionals, market users, journalists, academics and those who shape and implement public policy for the financial services industry. 231051 342749 The development of standards and fostering best practices initiatives in the futures and related financial services industry. 1013718 1498985 Market data used by academic and government researchers and industry professionals and their clients throughout the world. 1261622 true true false false false false false false false false true false false false true true false 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 true false true 14 0 true 11 true false false false false false false false false false false X 15 13 false false false false false false false true true false false false true true true true true true false false DC IL NY X R GUY SHEETZ 2022231528 2001 PENNSYLVANIA AVE NW SUITE 60 Washington DC 20006 X Patricia Foshee PRESIDENT 60.0 0.0 X X 130958 0 23444 Walter Lukken Board Member 1.0 64.0 X 0 495250 33974 Michael C Dawley Chairman 1.0 0.0 X X 0 0 0 Gary DeWaal Co-Vice Chairman 1.0 0.0 X X 0 0 0 Thomas Russo Co-Vice Chairman 1.0 0.0 X X 0 0 0 Mark E Holder Secretary/Treasurer 1.0 0.0 X X 0 0 0 Peter F Borish Board Member 1.0 0.0 X 0 0 0 Gerald Corcoran Board Member 1.0 0.0 X 0 0 0 Daniel A Driscoll Board Member 1.0 0.0 X 0 0 0 John Damgard Board Member 1.0 0.0 X 30000 0 0 Scott Gordon Board Member 1.0 0.0 X 0 0 0 Micah S Green Board Member 1.0 0.0 X 0 0 0 Arthur W Hahn Board Member 1.0 0.0 X 0 0 0 John Lothian Board Member 1.0 0.0 X 0 0 0 Vassilis Vergotis Board Member 1.0 0.0 X 0 0 0 Thomas F Callahan Board Member 1.0 0.0 X 0 0 0 Laurie R Ferber Board Member 1.0 0.0 X 0 0 0 Edward A Kwalwasser Board Member 1.0 0.0 X 0 0 0 Robert G Pickel Board Member 1.0 0.0 X 0 0 0 160958 495250 57418 1 false true false Evergreen Financial Management 4201 Wilson Blvd Suite 110-583 ARLINGTON VA 22203 Technology Services 133980 Bluetext 2121 Wisconsin Ave NW 320 WASHINGTON DC 20007 Strategic Planning 120719 2 5000 5000 PROGRAM MATERIAL SALES 900099 1498985 1498985 REGISTRATION FEES 900099 342749 342749 RESTRICTED OPERATIONAL FUNDS 900099 25000 25000 1866734 32323 32323 0 4800 4800 0 0 0 328439 300826 27613 27613 27613 0 0 0 0 1936470 1866734 64736 10000 10000 0 0 0 130958 103457 27501 0 544105 429843 114262 50567 39948 10619 54359 42944 11415 45789 36173 9616 0 3836 3030 806 13996 11057 2939 0 0 21331 16851 4480 251651 198804 52847 15382 12152 3230 69607 54990 14617 290626 229595 61031 0 21 17 4 31045 24526 6519 0 50580 39958 10622 0 0 3128 2471 657 5678 4486 1192 TAXES AND LICENSES 1671 1320 351 1594330 1261622 332708 0 1014942 1517632 63616 163630 0 0 42352 20392 0 0 0 0 0 0 5023 9912 15686 28414 23454 19126 5765 4328 2946471 2885628 0 0 0 0 0 0 0 0 4093855 4629936 301712 166659 0 0 1861056 1986830 0 0 0 0 0 0 0 0 0 0 13022 41062 2175790 2194551 X 1918065 2435385 0 0 0 0 1918065 2435385 4093855 4629936 342140 175180 X false true X true false X 107188 85000 145000 25500 5000 367688 1081472 1464791 1598971 1848412 1866734 7860380 0 0 0 1188660 1549791 1743971 1873912 1871734 8228068 107500 85000 145000 25000 5000 367500 0 107500 85000 145000 25000 5000 367500 7860568 209957 74209 60952 53409 37123 435650 0 209957 74209 60952 53409 37123 435650 0 1279 8361 12969 0 0 22609 1399896 1632361 1817892 1927321 1908857 8686327 0.90494 0.87456 0.05015 0.05920 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 15135 10807 4328 0 8319 8319 4328 0 INTERCOMPANY PAYABLE 41062 41062 X Liability for Uncertain Tax Position (ASC 740) Schedule D, Part X, Line 2 Per GAAP requirements, IFM is reported as part of Futures Industry Association's consolidated audited financial statements. FIA's notes to its audited statements includes the following relevant parts: 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 thresholds of "more likely than not" to be successful under regulatory challenge. IFM is exempt from income tax under Section 501(c)(3) of the Code, and has been designated a publicly supported organization under Sections 509(a)(2) and 170 of the Code. No taxable unrelated business income was generated and, accordingly, no provision for income taxes is reflected in the accompanying financial statements. true Review for Futures Markets PO Box 164 Massillon OH 44648 274149803 501(c)(3) 10000 Research Paper Research Paper Research Paper Research Paper Research Paper Research Paper Research Paper Research Paper 1 Procedure for Monitoring Use of Grant Funds Inside U.S. Schedule I, Part I, Line 2 Grant committees determine how the money should be used, investment committees monitor the grant money, and the board of trustees receives reports regarding how the grant money was used. IFM also reviews the final product of the research grant. X X X false false false false false false false false false Patricia Foshee PRESIDENT 129823 0 0 0 1135 0 12150 0 11294 0 154402 0 0 0 Walter Lukken Board Member 0 476719 0 0 0 18531 0 23400 0 10574 0 529224 0 0 Organization's Mission Form 990, Part III, Line 1 THE INSTITUTE'S MISSION FOCUSES ON THREE PRIMARY AREAS - EDUCATION, ETHICS AND DATA. The purpose of The Institute for Financial Markets (IFM) is to increase public awareness and understanding of the importance of financial markets and the financial service industry to the global economy, and to improve the technical competence of those in the industry who deal with the public. As such, the Institute engages in activities such as research, data, ethics and anti-money compliance laundering training, publications dissemination, course development, workshops, and conferences. Form 990 Review Process Form 990, Part VI, Line 11b THE CHIEF FINANCIAL OFFICER OF THE FUTURES INDUSTRY ASSOCIATION, INC. CONDUCTED THE REVIEW IN COLLABORATION WITH THE EXTERNAL ACCOUNTING FIRM. DISCUSSION WAS HELD AT THE EXECUTIVE LEVEL WITHIN THE ORGANIZATION. Conflict of Interest Policy Monitoring & Enforcement Form 990, Part VI, Line 12c Officers, trustees and key employees are covered under the policy. The level at which determinations of whether a conflict exists includes but is not limited to the following: ownership interest in an entity the organization is procuring goods or services from, other transactions where an insider has the possibility of personal gain at the expense of the organization or any transaction in which the organization is doing business with a family member or business partner. Any conflicts are reviewed first by the executive director and then by the board of trustees. Restrictions include removal of participation or any personal influence in the discussion of the subject and all decision making regarding the topic. Process for Determining Compensation Form 990, Part VI, Line 15a The compensation committee, which are the officers of the independent board of trustees, reviews the compensation. 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. The compensation committee approves upon recommendation of management with contemporaneous substantiation of the deliberation and decision. How Documents are Made Available to the Public Form 990, Part VI, Line 19 The governing documents, conflict of interest policy, and financial statements are available to the public upon request to the extent required by law. FORM 990 PART IX LINE 11G DESCRIPTION:COURSE INSTRUCTORS TOTAL FEES:156812 FORM 990 PART IX LINE 11G DESCRIPTION:STRATEGIC PLANNING CONSULTANT TOTAL FEES:76415 FORM 990 PART IX LINE 11G DESCRIPTION:OTHER FEES TOTAL FEES:18424 FIA Asia Inc 2001 PENNSYLVANIA AVE NW WASHINGTON DC 20006 352329304 MEMBER ASSOC. DC 501(c)(6) FIA false Markets Association 2001 PENNSYLVANIA AVE NW WASHINGTON DC 20006 522304754 MEMBER ASSOC. DC 501(c)(6) FIA false FUTURES INDUSTRY ASSOCIATION INC 2001 PENNSYLVANIA AVE NW WASHINGTON DC 20006 135642275 MEMBERSHIP DC 501(c)(6) NA false FIA Global Inc 2001 PENNSYLVANIA AVE NW WASHINGTON DC 20006 464617924 MEMBER ASSOC. DC 501(c)(6) FIA false FIA TECHNOLOGY SERVICES INC 2001 PENNSYLVANIA AVENW STE 600 WASHINGTON DC 20006 300472383 DATA STORAGE DC FIA C Corp 0 0 false false false false false false false false false false false false false true true false false false false Futures Industry Association Inc o 115124 FMV Futures Industry Association Inc n 141102 FMV