MUNICIPAL SECURITIES RULEMAKING BOARD: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- MUNICIPAL SECURITIES RULEMAKING BOARD (EIN 52-1042433)
- Tax period
- 2012-10-01 to 2013-09-30
- Filed
- 2014-02-12
- IRS object ID
- 201430439349301713
- Schema version
- 2012v2.1
- 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) |
|---|---|---|
| Timestamp | 2014-02-12T14:30:08-06:00 | Timestamp |
| Tax Period End Date | 2013-09-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 861065772 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DELOITTE TAX LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1750 TYSONS BLVD | AddressLine1 |
| City | MCLEAN | City |
| State | VA | State |
| ZIP Code | 221024219 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-10-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521042433 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MUNICIPAL SECURITIES RULEMAKING BOARD | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | MUNI | NameControl |
| Phone | 7037976600 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1900 DUKE STREET | AddressLine1 |
| City | ALEXANDRIA | City |
| State | VA | State |
| ZIP Code | 223143412 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | LYNNETTE KELLY | Name |
| Title | EXECUTIVE DIRECTOR | Title |
| Phone | 7037976600 | Phone |
| Date Signed | 2014-02-12 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | YVETTE WOODS | Name |
| PTIN | P00364424 | PTIN |
| Phone | 7032511000 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | LYNNETTE KELLY | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1900 DUKE STREET | AddressLine1 |
| City | ALEXANDRIA | City |
| State | VA | State |
| ZIP Code | 223143412 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 39270359 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.MSRB.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1975 | YearFormation |
| State Legal Domicile | VA | StateLegalDomicile |
| Activity Or Mission Description | PROTECT INVESTORS AND MUNICIPAL ENTITIES BY PROMOTING A FAIR AND EFFICIENT MUNICIPAL MARKET. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 21 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 21 | NbrIndependentVotingMembers |
| Total Nbr Employees | 121 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 35445924 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 35067556 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 4405387 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 4098182 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 41352 | InvestmentIncomePriorYear |
| Investment Income Current Year | 104621 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 39892663 | TotalRevenuePriorYear |
| Total Revenue Current Year | 39270359 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 150000 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 13993705 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 15423472 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 12843007 | OtherExpensePriorYear |
| Other Expenses Current Year | 12204858 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 26836712 | TotalExpensesPriorYear |
| Total Expenses Current Year | 27778330 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 13055951 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 11492029 | RevenuesLessExpensesCY |
| Total Assets BOY | 50041243 | TotalAssetsBOY |
| Total Assets EOY | 60813189 | TotalAssetsEOY |
| Total Liabilities BOY | 3646681 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 2933965 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 46394562 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 57879224 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | 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. ESTABLISHING RULES FOR DEALERS AND MUNICIPAL ADVISORS; 2. COLLECTING AND DISSEMINATING MARKET INFORMATION, AND 3. ENGAGING IN MARKET LEADERSHIP, OUTREACH AND EDUCATION. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | ESTABLISHING REGULATIONS FOR DEALERS AND MUNICIPAL ADVISORS: SEE SCHEDULE OESTABLISHING REGULATIONS FOR DEALERS AND MUNICIPAL ADVISORS: 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, SAFE AND EFFICIENT TRANSACTIONS, AND SUPPORT A FREE AND OPEN MARKET IN MUNICIPAL SECURITIES AND MUNICIPAL FINANCIAL PRODUCTS. MSRB RULES ARE DEVELOPED WITH EXTENSIVE INPUT FROM THE PUBLIC AND THE MUNICIPAL SECURITIES INDUSTRY, AND MUST BE APPROVED BY THE SECURITIES AND EXCHANGE COMMISSION (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 FOLLOWS ESTABLISHED PROCEDURES FOR COORDINATING COOPERATIVELY WITH ENFORCEMENT AGENCIES CHARGED WITH ENFORCING MSRB RULES. THE MSRB ALSO HAS ESTABLISHED PROGRAMS IN CONNECTION WITH THE QUALIFICATION OF PROFESSIONALS EMPLOYED BY REGULATED ENTITIES.INFORMATION REGARDING THE MSRB'S RULES AND OTHER IMPORTANT INFORMATION OR DEVELOPMENTS WITH AN IMPACT ON THE PROTECTION OF INVESTORS, MUNICIPAL ENTITIES AND OBLIGATED PERSONS IS DISPLAYED ON THE MSRB'S CORPORATE WEBSITE, AT WWW.MSRB.ORG.DURING FY 2013, REGULATORY HIGHLIGHTS INCLUDE: - MSRB RULES G-11, G-8 AND G-32: INCLUDED PROVISIONS SPECIFICALLY TAILORED FOR RETAIL ORDER PERIODS;- MSRB RULE G-39: AMENDED TELEMARKETING RULE TO ALIGN WITH RULES OF OTHER REGULATORS;- MSRB RULES G-37 AND G-8: AMENDED RULES TO REQUIRE PUBLIC DISCLOSURE OF ADDITIONAL INFORMATION RELATED TO MUNICIPAL SECURITIES DEALER CONTRIBUTIONS TO BOND BALLOT CAMPAIGNS; AND,- MSRB RULES G-32 AND G-34: STREAMLINED NEW ISSUE INFORMATION SUBMISSION REQUIREMENTS FOR MUNICIPAL SECURITIES DEALERS. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | COLLECTING AND DISSEMINATING MARKET INFORMATION: SEE SCHEDULE OCOLLECTING AND DISSEMINATING MARKET INFORMATION: THE MSRB COLLECTS MUNICIPAL MARKET DOCUMENTS AND DATA (COLLECTIVELY "INFORMATION") FROM REGULATED ENTITIES, MUNICIPAL ENTITIES, OBLIGATED PERSONS, AND/OR THEIR AGENTS AND MAKES THE INFORMATION WIDELY AVAILABLE. MSRB'S COLLECTION OF INFORMATION SERVES A CRITICAL ROLE IN PRESERVING FAIRNESS AND EFFICIENCY OF THE MUNICIPAL MARKET. 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, THE MSRB ENSURES THAT THE MARKET OPERATES TRANSPARENTLY AND EFFICIENTLY.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, BROKERS, DEALERS, AND MUNICIPAL SECURITIES DEALERS 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 2013, THE MSRB OFFERED FIVE PRINCIPAL DATA PRODUCTS WITH APPROXIMATELY 125 ACTIVE SUBSCRIPTION AGREEMENTS.ENHANCEMENTS TO MARKET INFORMATION PROVIDED ON EMMA, AS WELL AS THE FUNCTIONALITY OF THE WEBSITE, PROVIDED BY THE MSRB DURING FY 2013 INCLUDE: - ENHANCED THE EMMA MARKET STATISTICS PAGE TO INCLUDE MONTHLY DATA ON NEW ISSUANCE VOLUME;- BEGAN TO DISPLAY BOTH THE INITIAL OFFERING DOLLAR PRICE AND YIELD FOR A BOND AS WELL AS THE TIME OF FORMAL AWARD AND TIME OF FIRST EXECUTION FOR MOST NEW ISSUES OF MUNICIPAL SECURITIES;- ADDED ACCESS ON EMMA TO MUNICIPAL SECURITIES DEALERS' DISCLOSURES OF POLITICAL CONTRIBUTIONS AND EXPANDED DISCLOSURES CONCERNING DEALER CONTRIBUTIONS TO BOND BALLOT CAMPAIGNS;- BEGAN TO DISPLAY IN REAL-TIME ON EMMA PAR VALUE ON ALL TRANSACTIONS OF $5 MILLION OR LESS TO PROVIDE MORE COMPLETE AND TIMELY INFORMATION ABOUT MUNICIPAL SECURITIES TRADES;- REQUIRED MUNICIPAL SECURITIES DEALERS TO REPORT THE CONTRACTUAL DOLLAR PRICE AT WHICH INTER-DEALER TRANSACTIONS WERE EXECUTED AND ADDED YIELD TO THIS INFORMATION;- CONFORMED BID-TO-COVER RATIOS FOR AUCTION RATE SECURITIES TO A CALCULATION THAT IS MORE CONSISTENT WITH TREASURY AUCTION RESULTS;- DEVELOPED A FREE EMAIL REMINDER SERVICE TO NOTIFY MUNICIPAL SECURITIES ISSUERS IN ADVANCE OF THEIR FILING DEADLINES FOR FINANCIAL DISCLOSURES TO HELP ENSURE USERS HAVE THE MOST CURRENT INFORMATION;- ENHANCED THE SEARCH FUNCTIONALITY ON EMMA TO ALLOW USERS TO SEARCH BY A COMBINATION OF DESCRIPTIVE CHARACTERISTICS OF MUNICIPAL SECURITIES AS WELL AS TRADE DATA AND DISCLOSURES;- ADDED ALERTS FOR DISCLOSURES RELATED TO 529 COLLEGE SAVINGS PLANS;- FACILITATED MONITORING OF SECURITIES OR A MARKET SEGMENT BY ENABLING SPECIFIC SECURITIES TO BE SAVED IN GROUPS AND SEARCHES TO BE CONDUCTED ON THOSE SECURITIES, AND ADDED THE ABILITY TO SAVE FREQUENTLY USED SETS OF SEARCH CRITERIA;- INTRODUCED A LIMITED PILOT "ISSUER HOMEPAGE" THAT WOULD PROVIDE A NEW MEANS FOR NAVIGATING ON EMMA TO FIND ISSUERS AND DATA AND DISCLOSURES ABOUT THEIR BONDS, AS WELL AS ENABLING ISSUERS TO IMPROVE COMMUNICATION WITH INVESTORS THROUGH EMMA; AND, - INTRODUCED MYEMMA, WHICH PROVIDES CUSTOMIZED ACCESS TO MUNICIPAL SECURITIES INFORMATION BY ALLOWING USERS TO SET UP ALERTS TO BE NOTIFIED WHEN NEW INFORMATION ON A PARTICULAR SECURITY OR GROUP OF SECURITIES BECOMES AVAILABLE ON EMMA. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | ENGAGING IN EDUCATION, OUTREACH AND MARKET LEADERSHIP: SEE SCHEDULE OENGAGING IN EDUCATION, OUTREACH AND MARKET LEADERSHIP: THE MSRB ENGAGES 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 FYI 2013, HIGHLIGHTS IN THIS AREA INCLUDE:- SPONSORED THE SEMI-ANNUAL MSRB INDUSTRY ROUNDTABLE, REINFORCING THE MSRB'S REPUTATION AS A FACILITATOR IN MARKET-WIDE DISCUSSIONS ABOUT IMPORTANT ISSUES;- SPONSORED A SERIES OF ROUNDTABLES ON PUBLIC PENSION PLANS;- PRODUCED THREE INVESTOR EDUCATION VIDEOS ON THE ROLE OF THE MSRB IN THE MUNICIPAL MARKET, HOW TO USE THE EMMA WEBSITE TO MAKE INFORMED DECISIONS AND WHAT INVESTORS SHOULD EXPECT WHEN WORKING WITH A BROKER;- ADDED NEW RESOURCES TO THE ONLINE "MSRB INVESTOR TOOLKIT" TO HELP MUNICIPAL BOND INVESTORS NAVIGATE THE MARKET AND MAKE DECISIONS ABOUT MUNICIPAL BONDS;- ADDED A SERIES OF NEW RESOURCES ON FINANCIAL DISCLOSURE AND OTHER TOPICS TO THE ELECTRONIC "MSRB STATE AND LOCAL GOVERNMENT TOOLKIT" TO HELP MUNICIPAL BOND ISSUERS BETTER UNDERSTAND THE BOND ISSUANCE PROCESS AND THE EMMA WEBSITE;- HOSTED FREE, PUBLIC WEBINARS ON NEW MSRB RULES AND MARKET TRANSPARENCY INITIATIVES; AND, - TESTIFIED AT A SECURITIES AND EXCHANGE COMMISSION ROUNDTABLE ON FIXED INCOME MARKETS ON "POTENTIAL IMPROVEMENTS TO MARKET STRUCTURE FOR MUNICIPAL SECURITIES". | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 1 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 1 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 38 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 121 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Number Of8282 Filed | 0 | NumberOf8282Filed |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 21 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 21 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Own Website | X | OwnWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BONNIE MOYNIHAN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 7037976600 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1900 DUKE STREET SUITE 600 | AddressLine1 |
| City | ALEXANDRIA | City |
| State | VA | State |
| ZIP Code | 223143412 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (43 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|---|
| ALAN D POLSKY | |||||||||
| DIRECTOR | 11.00 | X | 80300 | 0 | 0 | ||||
| BENJAMIN S THOMPSON | |||||||||
| DIRECTOR | 5.00 | X | 50300 | 0 | 0 | ||||
| CRAIG A NOBLE | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| DALL FORSYTHE | |||||||||
| DIRECTOR | 5.00 | X | 46100 | 0 | 0 | ||||
| DANIEL HEIMOWITZ | |||||||||
| DIRECTOR | 5.00 | X | 45000 | 0 | 0 | ||||
| DAVID J MADIGAN | |||||||||
| DIRECTOR | 5.00 | X | 50300 | 0 | 0 | ||||
| EDWARD J DE LA ROSA | |||||||||
| DIRECTOR | 5.00 | X | 45000 | 0 | 0 | ||||
| GENE SAFFOLD | |||||||||
| DIRECTOR | 5.00 | X | 984 | 0 | 0 | ||||
| JOSEPH J GERACI | |||||||||
| DIRECTOR | 5.00 | X | 46100 | 0 | 0 | ||||
| KYM S ARNONE | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| MARCY EDWARDS | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| MARIANNE F EDMONDS | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| MILROY ALEXANDER | |||||||||
| DIRECTOR | 5.00 | X | 45300 | 0 | 0 | ||||
| NOREEN P WHITE | |||||||||
| DIRECTOR | 5.00 | X | 50300 | 0 | 0 | ||||
| PETER J TAYLOR | |||||||||
| DIRECTOR | 5.00 | X | 46100 | 0 | 0 | ||||
| RICHARD ELLIS | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| ROBERT A FIPPINGER | |||||||||
| DIRECTOR | 5.00 | X | 45300 | 0 | 0 | ||||
| ROBERT A LAMB | |||||||||
| DIRECTOR | 5.00 | X | 55300 | 0 | 0 | ||||
| ROBIN L WIESSMANN | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| SHERYL D BAILEY | |||||||||
| DIRECTOR | 5.00 | X | 45300 | 0 | 0 | ||||
| W BARTLEY HILDRETH | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| JAY M GOLDSTONE | |||||||||
| DIRECTOR, BOARD CHAIR | 7.00 | X | 50300 | 0 | 0 | X | |||
| STEPHEN E HEANEY | |||||||||
| DIRECTOR, BD VICE CHAIR | 5.00 | X | 50000 | 0 | 0 | X | |||
| AMYTIS G RAMOS | |||||||||
| ASSISTANT SECRETARY | 40.00 | 76434 | 0 | 32107 | X | ||||
| ELIZABETH A WOLFE | |||||||||
| TREASURER AND CFO | 40.00 | 315454 | 0 | 34929 | X | ||||
| LYNNETTE KELLY | |||||||||
| EXECUTIVE DIRECTOR | 40.00 | 968627 | 0 | 149780 | X | ||||
| RONALD W SMITH | |||||||||
| SECRETARY | 40.00 | 178322 | 0 | 26530 | X | ||||
| SARA MAJROH | |||||||||
| ASSISTANT SECRETARY | 40.00 | 95766 | 0 | 14714 | X | ||||
| ALAN MORISATO | |||||||||
| CHIEF OPS AND TECH OFF | 40.00 | 306319 | 0 | 20320 | X | ||||
| ERNESTO A LANZA | |||||||||
| DEPUTY EXECUTIVE DIR | 40.00 | 485971 | 0 | 28104 | X | ||||
| MARGARET HENRY | |||||||||
| GENERAL COUNSEL MARK REG | 40.00 | 167020 | 0 | 18984 | X | ||||
| KAREN DU BRUL | |||||||||
| ASSOC GENERAL COUNSEL | 40.00 | 249702 | 0 | 30767 | X | ||||
| KATHLEEN MILES | |||||||||
| ASSOC GENERAL COUNSEL | 40.00 | 256360 | 0 | 23092 | X | ||||
| LAWRENCE P SANDOR | |||||||||
| DEPUTY GENERAL COUNSEL | 40.00 | 316092 | 0 | 20766 | X | ||||
| LESLIE CAREY | |||||||||
| ASSOC GENERAL COUNSEL | 40.00 | 238645 | 0 | 30380 | X | ||||
| RITTA MCLAUGHLIN | |||||||||
| CHIEF EDUCATION OFFICER | 40.00 | 267940 | 0 | 30979 | X | ||||
| ADELA CEPEDA | |||||||||
| DIRECTOR | 5.00 | 42414 | 0 | 0 | X | ||||
| C CHRISTOPHER TROWER | |||||||||
| DIRECTOR | 5.00 | 45300 | 0 | 0 | X | ||||
| JOHN E PETERSON | |||||||||
| DIRECTOR | 5.00 | 23292 | 0 | 0 | X | ||||
| KATHLEEN A MCDONOUGH | |||||||||
| DIRECTOR | 5.00 | 22313 | 0 | 0 | X | ||||
| KEVIN L WILLENS | |||||||||
| DIRECTOR | 5.00 | 50000 | 0 | 0 | X | ||||
| MARK G MULLER | |||||||||
| DIRECTOR | 5.00 | 45300 | 0 | 0 | X | ||||
| MICHAEL G BARTOLOTTA | |||||||||
| DIRECTOR | 5.00 | 45000 | 0 | 0 | X | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 4948255 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 461452 | TotalOtherCompensation |
| Number Individuals GT100 K | 33 | NumberIndividualsGT100K |
| Formers Listed | 1 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (4 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| C C PACE SYSTEMS INC | |||||
| 4100 MONUMENT CORNER DRIVE SUITE 4 | FAIRFAX | VA | 22030 | SOFTWARE DEVELOPMENT | 1598198 |
| SUTHERLAND GLOBAL SERVICES | |||||
| 1160 PITTSFORD-VICTOR ROAD | PITTSFORD | NY | 14534 | CALL CENTER | 305562 |
| GRANT THORNTON LLP | |||||
| 33562 TREASURY CENTER | CHICAGO | IL | 60694 | INTERNAL AUDIT | 102900 |
| QUATT ASSOCIATES | |||||
| 2233 WISCONSIN AVENUE NW SUITE 50 | WASHINGTON | DC | 20007 | COMPENSATION CONSULTANTS | 102657 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 4 | NumberOfContractorsGT100K |
| Membership Dues | 35067556 | MembershipDues |
| Total Contributions | 35067556 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| RULE VIOLATION REVENUE | 900099 | 2364098 | 2364098 |
| DATA SUBSCRIPTIONS | 900099 | 1596614 | 1596614 |
| PROF QUAL EXAM FEES | 900099 | 122820 | 122820 |
| OTHER | 900099 | 14650 | 14650 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 4098182 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 104621 | TotalRevenueColumn |
| Related Or Exempt Function Income | 104621 | RelatedOrExemptFunctionIncome |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 39270359 | TotalRevenueColumn |
| Related Or Exempt Function Income | 4202803 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $0 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 150000 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4247803 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8815666 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 655939 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 996320 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 707744 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 99787 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 132361 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1970279 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 493222 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1143507 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2230243 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 536427 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 248426 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3419279 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 188312 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| ELECTRONIC INFO FEE | 1208347 |
| DUES, REGIST. & TRAININ | 209229 |
| MSRB PUBLICATIONS | 96554 |
| TEMP AGENCY STAFF | 69051 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 159834 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 27778330 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2646902 | BOY |
| EOY | 1048336 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 38785 | BOY |
| EOY | 3065112 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8087805 | BOY |
| EOY | 6288424 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 393609 | BOY |
| EOY | 584622 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 29747344 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 23264411 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6412406 | BOY |
| EOY | 6482933 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 32461736 | BOY |
| EOY | 43343762 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50041243 | BOY |
| EOY | 60813189 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2081436 | BOY |
| EOY | 1727316 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1565245 | BOY |
| EOY | 1206649 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3646681 | BOY |
| EOY | 2933965 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 46394562 | BOY |
| EOY | 57879224 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 46394562 | BOY |
| EOY | 57879224 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50041243 | BOY |
| EOY | 60813189 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 11492029 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | -7367 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | 0 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Separate | X | FinancialStatementSeparate |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 1 | AuditCommittee |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nondeduct | 0 | SubstantiallyAllDuesNondeduct |
| Only In House Lobbying | 1 | OnlyInHouseLobbying |
| Agree To Carryover Prior Year | 0 | AgreeToCarryoverPriorYear |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1874816 | OtherCostOrOtherBasis |
| Depreciation | 1292544 | Depreciation |
| Book Value | 582272 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 3023837 | OtherCostOrOtherBasis |
| Depreciation | 2012474 | Depreciation |
| Book Value | 1011363 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 24848691 | OtherCostOrOtherBasis |
| Depreciation | 19959393 | Depreciation |
| Book Value | 4889298 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 6482933 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DEFERRED RENT | $1,070,070 |
| DEFERRED COMPENSATION | $136,579 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 1206649 | TotalOfAmounts |
| Tot Revenue Etc Audited Fincl Stmt | 39262992 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -7367 | NetUnrealizedGainsInvestments |
| Revenue Not Rptd F990 | -7367 | RevenueNotRptdF990 |
| Revenue Subtotal | 39270359 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 39270359 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 27778330 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 27778330 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 27778330 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | THE MSRB IS EXEMPT FROM FEDERAL AND STATE TAXES ON INCOME (OTHER THAN UNRELATED BUSINESS INCOME) UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AND APPLICABLE INCOME TAX REGULATIONS OF THE COMMONWEALTH OF VIRGINIA. THE MSRB FILES AN ANNUAL INFORMATIONAL TAX FORM, FORM 990, WITH THE INTERNAL REVENUE SERVICE. THE MSRB REALIZED NO UNRELATED BUSINESS INCOME IN FISCAL YEARS 2013 AND 2012 AND NO PROVISION FOR INCOME TAXES HAS BEEN MADE AS OF SEPTEMBER 30, 2013 AND 2012. | Explanation |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Recipient Table RecipientTable
Recipient Name Business RecipientNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SECURITIES AND EXCHANGE COMMISSION HISTORICAL SOCIETY | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1101 PENNSLYVANIA AVENUE NW | AddressLine1 |
| City | WASHINGTON | City |
| State | DC | State |
| ZIP Code | 20004 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN Of Recipient | 522213646 | EINOfRecipient |
| IRC Section | 501(C)(3) | IRCSection |
| Amount Of Cash Grant | 150000 | AmountOfCashGrant |
| Purpose Of Grant | MUNICIPAL SECURITIES VIRTUAL MUSEUM | PurposeOfGrant |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 1 | TotalNbrOf501C3AndGovtGrants |
| Total Nbr Of Other Organizations | 0 | TotalNbrOfOtherOrganizations |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: THE ORGANIZATION IS NOT IN THE BUSINESS OF MAKING GRANTS, BUT IN FY 2013 THE ORGANIZATION MADE A GRANT COMMITMENT TO THE SEC HISTORICAL SOCIETY (SOCIETY), IN COMMEMORATION OF THE MSRB'S 40TH ANNIVERSARY, TO SPONSOR THE SOCIETY'S GALLERY ON MUNICIPAL SECURITIES WHICH WILL PERMANENTLY RESIDE IN THE SOCIETY'S VIRTUAL MUSEUM AND ARCHIVE OF THE HISTORY OF FINANCIAL REGULATION. THE MSRB FINANCE COMMITTEE REVIEWED AND APPROVED THE GRANT. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | X | FirstClassOrCharterTravel |
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (18 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ELIZABETH A WOLFE | ||||||||||||||
| TREASURER AND CFO | 315454 | 0 | 0 | 0 | 0 | 0 | 17500 | 0 | 17429 | 0 | 350383 | 0 | 0 | 0 |
| LYNNETTE KELLY | ||||||||||||||
| EXECUTIVE DIRECTOR | 652455 | 0 | 129468 | 0 | 186704 | 0 | 122500 | 0 | 27280 | 0 | 1118407 | 0 | 165000 | 0 |
| RONALD W SMITH | ||||||||||||||
| SECRETARY | 168822 | 0 | 9500 | 0 | 0 | 0 | 16513 | 0 | 10017 | 0 | 204852 | 0 | 0 | 0 |
| ALAN MORISATO | ||||||||||||||
| CHIEF OPS AND TECH OFF | 305077 | 0 | 0 | 0 | 1242 | 0 | 17500 | 0 | 2820 | 0 | 326639 | 0 | 0 | 0 |
| ERNESTO A LANZA | ||||||||||||||
| DEPUTY EXECUTIVE DIR | 485077 | 0 | 0 | 0 | 894 | 0 | 22500 | 0 | 5604 | 0 | 514075 | 0 | 0 | 0 |
| MARGARET HENRY | ||||||||||||||
| GENERAL COUNSEL MARK REG | 167020 | 0 | 0 | 0 | 0 | 0 | 12250 | 0 | 6734 | 0 | 186004 | 0 | 0 | 0 |
| KAREN DU BRUL | ||||||||||||||
| ASSOC GENERAL COUNSEL | 247058 | 0 | 2500 | 0 | 144 | 0 | 17387 | 0 | 13380 | 0 | 280469 | 0 | 0 | 0 |
| KATHLEEN MILES | ||||||||||||||
| ASSOC GENERAL COUNSEL | 251309 | 0 | 4500 | 0 | 551 | 0 | 17500 | 0 | 5592 | 0 | 279452 | 0 | 0 | 0 |
| LAWRENCE P SANDOR | ||||||||||||||
| DEPUTY GENERAL COUNSEL | 292350 | 0 | 22500 | 0 | 1242 | 0 | 17500 | 0 | 3266 | 0 | 336858 | 0 | 0 | 0 |
| LESLIE CAREY | ||||||||||||||
| ASSOC GENERAL COUNSEL | 236145 | 0 | 2500 | 0 | 0 | 0 | 16966 | 0 | 13414 | 0 | 269025 | 0 | 0 | 0 |
| RITTA MCLAUGHLIN | ||||||||||||||
| CHIEF EDUCATION OFFICER | 267940 | 0 | 0 | 0 | 0 | 0 | 17500 | 0 | 13479 | 0 | 298919 | 0 | 0 | 0 |
| ADELA CEPEDA | ||||||||||||||
| DIRECTOR | 42414 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 42414 | 0 | 0 | 0 |
| C CHRISTOPHER TROWER | ||||||||||||||
| DIRECTOR | 45300 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 45300 | 0 | 0 | 0 |
| JOHN E PETERSON | ||||||||||||||
| DIRECTOR | 23292 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 23292 | 0 | 0 | 0 |
| KATHLEEN A MCDONOUGH | ||||||||||||||
| DIRECTOR | 22313 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22313 | 0 | 0 | 0 |
| KEVIN L WILLENS | ||||||||||||||
| DIRECTOR | 50000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50000 | 0 | 0 | 0 |
| MARK G MULLER | ||||||||||||||
| DIRECTOR | 45300 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 45300 | 0 | 0 | 0 |
| MICHAEL G BARTOLOTTA | ||||||||||||||
| DIRECTOR | 45000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 45000 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| 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 PARTICIPATED IN A 457(F) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. A DISTRIBUTION OF $177,931 WAS MADE DURING THE YEAR. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (6 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| 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 AND THE BOARD OF DIRECTORS CONDUCTED THEIR REVIEWS ON 01/29/2014 AND 1/30/2014 RESPECTIVELY. |
| 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. ALL BOARD MEMBERS AND STAFF ARE ANNUALLY TRAINED 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 GENERAL COUNSEL 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. 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 (ESTABLISHING STATUTE), 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, THE IRS FORM 990, CERTAIN FINANCIAL POLICIES AND OTHER GOVERNANCE-RELATED POLICIES AND PROCEDURES. |
| 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. |
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