2014-11-13T16:02:51-06:00 2013-12-31 Grant Thornton LLP 2010 CORPORATE RIDGE SUITE 400 MCLEAN VA 22102 990 2013-01-01 521634508 Institute for Financial Markets % R GUY SHEETZ INST 2022231528 2001 Pennsylvania Ave NW Suite 600 Washington DC 20006 R GUY SHEETZ CFO 2022231528 2014-11-13 true Mary Torretta P00847851 2022231528 2013 2015-11-30 17:44:51Z Patricia Foshee 2001 Pennsylvania Ave NW Washington DC 20006 4136230 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. 19 16 8 16 0 -250 145000 25500 1598971 1848412 106914 117760 12969 0 1863854 1991672 87500 39725 0 0 816510 862440 0 0 0 739311 669981 1643321 1572146 220533 419526 3391507 4093855 2153028 2175790 1238479 1918065 X SEE SCHEDULE O false false 240985 39725 333090 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. 225819 312128 The development of standards and fostering best practices initiatives in the futures and related financial services industry. 691589 1203194 Market data used by academic and government researchers and industry professionals and their clients throughout the world. 1158393 true true false false false false false false false false true false false false true true false true false false false false true false false false false true true true false false false false false false false false false false false false false true false true false true 8 0 true 8 true false false false false false false false false false false X 19 16 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 Patricia Foshee EVP 60.0 X X 163806 0 23890 Peter F Borish Chairman 1.0 X X 0 0 0 Gary DeWaal Vice Chairman 1.0 X X 0 0 0 Mark E Holder Secretary/Treasurer 1.0 X X 0 0 0 Walter Lukken Board Member 1.0 64.0 X 0 1099173 46796 Thomas Russo Board Member 1.0 X 0 0 0 Thomas F Callahan Board Member 1.0 X 0 0 0 Michael C Dawley Board Member 1.0 X 0 0 0 Daniel A Driscoll Board Member 1.0 X 0 0 0 Laurie R Ferber Board Member 1.0 X 0 0 0 Scott Gordon Board Member 1.0 X 0 0 0 Arthur W Hahn Board Member 1.0 X 0 0 0 Edward A Kwalwasser Board Member 1.0 X 0 0 0 Robert G Pickel Board Member 1.0 X 0 0 0 John Lothian Board Member 1.0 X 0 0 0 Fernando Centelles Board Member 1.0 X 0 0 0 Vassilis Vergotis Board Member 1.0 X 0 0 0 Micah S Green Board Member 1.0 X 0 0 0 John Damgard Board Member 1.0 X 0 120000 0 Kevin Baldwin Director of Education 40.0 X 155109 0 22312 318915 1219173 92998 2 false true false 0 20000 5500 25500 PROGRAM MATERIAL SALES 900099 1203194 1203194 REGISTRATION FEES 900099 312128 312128 RESTRICTED GRANTS 900099 333090 333090 1848412 53409 53409 0 0 0 0 0 2208909 2144558 64351 64351 64351 0 0 0 0 1991672 1848412 117760 X 13475 13475 18750 18750 7500 7500 0 167612 122357 45255 0 527257 384898 142359 61649 45004 16645 58258 42528 15730 47664 34795 12869 0 2000 1460 540 10186 7436 2750 0 0 0 306419 223686 82733 0 35333 25792 9541 177435 129528 47907 0 93 68 25 127380 92987 34393 0 0 0 0 4092 2987 1105 5264 3843 1421 TAXES AND LICENSES 1779 1299 480 1572146 1158393 413753 0 503828 1014942 63609 63616 0 0 53962 42352 0 0 0 0 0 0 3463 5023 10825 15686 36083 30318 8335 5765 2744226 2946471 0 0 0 0 0 0 3259 0 3391507 4093855 112890 301712 0 0 2040138 1861056 0 0 0 0 0 0 0 0 0 0 0 13022 2153028 2175790 X 1238479 1918065 0 0 0 0 1238479 1918065 3391507 4093855 419526 260060 X false true X true false X 127000 107188 85000 145000 25500 489688 767067 1081472 1464791 1598971 1848412 6760713 0 0 0 894067 1188660 1549791 1743971 1873912 7250401 127000 107500 85000 145000 25000 489500 0 0 127000 107500 85000 145000 25000 489500 6760901 59105 209957 74209 60952 53409 457632 0 59105 209957 74209 60952 53409 457632 0 0 1279 8361 12969 0 22609 953172 1399896 1632361 1817892 1927321 7730642 0.87456 0.84657 0.05920 0.06156 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11953 7893 4060 24130 22425 1705 5765 0 INTERCOMPANY PAYABLE 13022 13022 X Liability for Uncertain Tax Position (ASC 740) Schedule D, Part X, Line 2 The Institute 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 Research Europe (Including Iceland and Greenland) 1 3750 Wire Research North America 1 3750 Wire false false false false false false Procedure for Monitoring Use of Grant Funds Outside U.S. Schedule F, Part I, Line 2 Grant committees determine how the money should be used, investment committees monitor the grant money, and the board of trustees receive reports regarding how the grant money was used. IFM also reviews the final product of the research grant. 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 Research 4 18750 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 receive 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 EVP 127691 0 35000 0 1115 0 15085 0 8805 0 187696 0 0 0 Kevin Baldwin Director of Education 154659 0 0 0 450 0 13984 0 8328 0 177421 0 0 0 Walter Lukken Board Member 0 476011 0 600000 0 23162 0 22950 0 23846 0 1145969 0 0 Organization's Mission Form 990, Part III, Line 1 THE INSTITUTE IS QUALIFIED AS A NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE SERVICE CODE. OUR MISSION FOCUSES ON THREE PRIMARY AREAS - EDUCATION, ETHICS AND DATA. WE SERVE AS AN INDUSTRY UTILITY AND DEVELOP AND DELIVER PRODUCTS AND SERVICES DIRECTED TO SECURITIES AND FUTURES BROKERAGE FIRMS, MARKET-USERS, AND THOSE WHO SHAPE AND IMPLEMENT PUBLIC-POLICY FOR THE FINANCIAL SERVICES INDUSTRY. THE IFM IS PARTICULARLY KNOWN FOR THE QUALITY AND BALANCE OF ITS WORK. WE PUBLISH TEXTS, DEVELOP CUSTOMIZED EDUCATION AND PRODUCE SPECIALIZED IN-HOUSE TRAINING THAT ARE USED BY A WIDE CROSS-SECTION OF FINANCIAL MARKET USERS INCLUDING INVESTORS, EXCHANGES, FINANCIAL FIRMS, U.S. AND INTERNATIONAL REGULATORS, AND MULTI-COUNTRY MEMBER ORGANIZATIONS. WE DELIVER EDUCATION IN A VARIETY OF MEDIUMS FROM ASYNCHRONOUS WEB-COURSES AND LIVE WEB-SEMINARS, TO PUBLIC-ENROLLMENT COURSES IN MAJOR FINANCIAL CENTERS AND CUSTOMIZED IN-HOUSE PROGRAMS FOR CLIENTS. FINALLY, THE IFM PARTICIPATES IN THE DEVELOPMENT OF STANDARDS AND FOSTERING BEST PRACTICES INITIATIVES IN THE FINANCIAL SERVICES INDUSTRY. AS A NONPROFIT ORGANIZATION, THE INSTITUTE FUNDS ITS ACTIVITIES AND DEVELOPMENT OF NEW SERVICES FROM TWO PRINCIPAL SOURCES: THE SALE OF ITS PRODUCTS AND SERVICES AND THE GENEROUS SUPPORT OF A BROAD RANGE OF FINANCIAL INSTITUTIONS, EXCHANGES, BROKERAGE FIRMS AND PARTICIPANTS FROM A VARIETY OF MARKET SECTORS. TAX-DEDUCTIBLE CONTRIBUTIONS TO THE IFM HELP UNDERWRITE: EDUCATIONAL RESEARCH MATERIALS, INCLUDING PRODUCT DEVELOPMENT, ETHICS TRAINING, AND DATA CENTERS. 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, review the compensation for all eight employees including the executive director. 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:INSURANCE STUDY CONSULTANT TOTAL FEES:246480 FORM 990 PART IX LINE 11G DESCRIPTION:BUSINESS CONSULTANTS TOTAL FEES:59939 FIA Asia Inc 2001 PENNSYLVANIA AVE NW WASHINGTON DC 20006 352329304 MEMBER ASSOC. DC 501(c)(6) N/A FIA false Markets Association 2001 PENNSYLVANIA AVE NW WASHINGTON DC 20006 522304754 MEMBER ASSOC. DC 501(c)(6) N/A FIA false FUTURES INDUSTRY ASSOCIATION INC 2001 PENNSYLVANIA AVE NW WASHINGTON DC 20006 135642275 MEMBERSHIP DC 501(c)(6) N/A NA false FIA Global Inc 2001 Pennsylvania Avenue NW Washington DC 20006 464617924 MEMBER ASSOC. DC 501(c)(6) N/A 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 true false false false false false false false false false true true false false false false Futures Industry Association Inc c 20000 FMV Futures Industry Association Inc n 135848 FMV Futures Industry Association Inc o 109221 FMV