MUNICIPAL SECURITIES RULEMAKING BOARD: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- MUNICIPAL SECURITIES RULEMAKING BOARD (EIN 52-1042433)
- Tax period
- 2011-10-01 to 2012-09-30
- Filed
- 2013-02-11
- IRS object ID
- 201300429349300505
- Schema version
- 2011v1.2
- 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 | 2013-02-11T07:44:44-06:00 | Timestamp |
| Tax Period End Date | 2012-09-30 | 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 | 2011-10-01 | 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 | 2013-01-31 | 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 | 2011 | TaxYear |
| Build TS | 2016-02-25 16:41:14Z | 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 | 39892663 | 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 | 119 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 30277882 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 35445924 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 3141462 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 4405387 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 87871 | InvestmentIncomePriorYear |
| Investment Income Current Year | 41352 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 33507215 | TotalRevenuePriorYear |
| Total Revenue Current Year | 39892663 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 13754600 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 13993705 | 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 | 12321279 | OtherExpensePriorYear |
| Other Expenses Current Year | 12843007 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 26075879 | TotalExpensesPriorYear |
| Total Expenses Current Year | 26836712 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 7431336 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 13055951 | RevenuesLessExpensesCY |
| Total Assets BOY | 36651410 | TotalAssetsBOY |
| Total Assets EOY | 50041243 | TotalAssetsEOY |
| Total Liabilities BOY | 3312474 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 3646681 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 33338936 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 46394562 | 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 O ESTABLISHING REGULATIONS FOR DEALERS AND MUNICIPAL ADVISORS:THE MSRB WAS CREATED BY CONGRESS AND IS EMPOWERED 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 MARKET STAKEHOLDERS INCLUDING ISSUERS, INVESTORS, DEALERS, ADVISORS, AND OTHERS, AND MUST BE APPROVED BY THE SECURITIES AND EXCHANGE COMMISSION (SEC) PRIOR TO EFFECTIVENESS. 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 2012, REGULATORY HIGHLIGHTS INCLUDE: - MSRB RULE G-17: EXPANDED THE DUTIES OF UNDERWRITERS TO STATE AND LOCAL GOVERNMENT ISSUERS;- MSRB RULE G-23: REVISED RULE CONCERNING THE ACTIVITIES OF FINANCIAL ADVISORS TO MINIMIZE CONFLICTS OF INTERESTS;- MSRB RULE G-3: CREATED NEW CATEGORY OF REGISTERED MUNICIPAL SECURITIES REPRESENTATIVE;- MSRB RULE G-14: AMENDED THE MSRB'S REAL-TIME TRANSACTION REPORTING SYSTEM TO ENHANCE LARGE TRADE PRICE TRANSPARENCY;- MSRB RULE G-16 AND G-9: AMENDED RULES TO FACILITATE THE ESTABLISHMENT OF A RISK-BASED COMPLIANCE EXAMINATION PROGRAM FOR BROKERS, DEALERS AND MUNICIPAL SECURITIES DEALERS;- MSRB RULE G-43: CREATED NEW REGULATIONS FOR THE ACTIVITIES OF BROKER'S BROKERS AND THE DEALERS THAT USE THEIR SERVICES;- MSRB RULES G-13, G-17, G-18 AND G-19: REVISED DEFINITION OF THE TERM "SOPHISTICATED MUNICIPAL MARKET PROFESSIONAL"; AND,- MSRB RULE G-34: ADOPTED PROHIBITION ON THE USE OF "NOT REOFFERED" DESIGNATION WITHOUT ALSO INCLUDING PRICE OR YIELD INFORMATION. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | COLLECTION AND DISSEMINATING MARKET INFORMATION: SEE SCHEDULE O COLLECTION AND DISSEMINATING MARKET INFORMATION: IN ORDER TO ACHIEVE ITS EXEMPT PURPOSE, 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. INFORMATION ABOUT POLITICAL CONTRIBUTIONS IS CURRENTLY AVAILABLE FREE OF CHARGE ON WWW.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 2012, THE MSRB OFFERED FIVE PRINCIPAL DATA PRODUCTS WITH APPROXIMATELY 100 ACTIVE SUBSCRIPTION AGREEMENTS.ENHANCEMENTS TO DATA COLLECTION AND INFORMATION PROVIDED BY THE MSRB DURING FY 2012 INCLUDE: - PROVIDED ON THE EMMA WEBSITE CURRENT CREDIT RATINGS FOR MUNICIPAL SECURITIES; - PROVIDED ON THE EMMA WEBSITE STATISTICAL DATA ON NEW ISSUES OF MUNICIPAL SECURITIES;- ENHANCED PRICE TRANSPARENCY FOR LARGE TRADES ON THE EMMA WEBSITE;- PROVIDED ON THE EMMA WEBSITE YIELD DATA ON INTER-DEALER MUNICIPAL TRADES;- ENCOURAGED ISSUERS TO VOLUNTARILY MAKE BANK LOAN FINANCING DOCUMENTS AVAILABLE ON THE EMMA WEBSITE;- PROVIDED NEW HISTORICAL SUBSCRIPTION PRODUCTS FOR MUNICIPAL SECURITIES DISCLOSURE DOCUMENTS AND DATA; AND,- MADE TRADE ALERTS AVAILABLE ON THE EMMA WEBSITE. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | ENGAGING IN MARKET LEADERSHIP, OUTREACH AND EDUCATION: SEE SCHEDULE OENGAGING IN MARKET LEADERSHIP, OUTREACH AND EDUCATION: THE MSRB ENGAGES MUNICIPAL MARKET PARTICIPANTS, REGULATORS AND POLICYMAKERS 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 2012, HIGHLIGHTS IN THIS AREA INCLUDE:- SPONSORED THE SEMI-ANNUAL MSRB INDUSTRY ROUNDTABLE ENTITLED "STATE AND LOCAL GOVERNMENTS CONFRONTING FISCAL DISTRESS: THE EFFECTS OF RECEIVERSHIPS, STATE TAKEOVERS AND CHAPTER 9 RESTRUCTURINGS ON THE MUNICIPAL MARKET," REINFORCING THE MSRB'S REPUTATION AS A FACILITATOR IN MARKET-WIDE DISCUSSIONS ABOUT IMPORTANT ISSUES;- SPONSORED A REGULATORY ROUNDTABLE ENTITLED "ENHANCING MUNICIPAL MARKET TRANSPARENCY," AT WHICH POLICYMAKERS AND REGULATORS PRESENTED THEIR PERSPECTIVES ON THE INCREASING IMPETUS TO FOCUS ON TRANSPARENCY IN THE MUNICIPAL MARKET;- SUPPORTED EFFORTS BY AN INDUSTRY WORKING GROUP TO PREPARE A "CONSIDERATIONS" DOCUMENT ON THE UTILIZATION OF BANK LOANS IN THE MUNICIPAL MARKET;- PARTICIPATED IN TWO EDUCATIONAL SEMINARS FOR JOURNALISTS IN CONJUNCTION WITH THE SOCIETY OF BUSINESS EDITORS AND REPORTERS AND THE REYNOLDS CENTER FOR BUSINESS JOURNALISM TO ENHANCE JOURNALISTS' AWARENESS OF THE MSRB AND INCREASE UNDERSTANDING OF THE EMMA WEBSITE;- PUBLISHED AN ELECTRONIC "MSRB INVESTOR TOOLKIT" TO HELP MUNICIPAL BOND INVESTORS NAVIGATE THE MARKET AND MAKE DECISIONS ABOUT MUNICIPAL BONDS;- PUBLISHED AN 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 IN A HEARING BEFORE THE HOUSE FINANCIAL SERVICES SUBCOMMITTEE ON CAPITAL MARKETS AND GOVERNMENT SPONSORED ENTERPRISES ON THE IMPACT OF THE DODD-FRANK ACT ON MUNICIPAL FINANCE, WHICH HELPED EDUCATE COMMITTEE MEMBERS ABOUT THE ROLE OF MUNICIPAL ADVISORS AND OTHER PARTICIPANTS IN MUNICIPAL FINANCE DEALS. | 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 | 0 | 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 |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| 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 | 119 | 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 | 1 | 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 (41 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 |
|---|---|---|---|---|---|---|---|---|---|
| MICHAEL G BARTOLOTTA | |||||||||
| DIRECTOR | 10.00 | X | 80000 | 0 | 0 | ||||
| MILROY A ALEXANDER | |||||||||
| DIRECTOR | 5.00 | X | 46100 | 0 | 0 | ||||
| SHERYL D BAILEY | |||||||||
| DIRECTOR | 5.00 | X | 46100 | 0 | 0 | ||||
| ROBERT A FIPPENGER | |||||||||
| DIRECTOR | 5.00 | X | 46100 | 0 | 0 | ||||
| JAY M GOLDSTONE | |||||||||
| DIRECTOR | 5.00 | X | 46100 | 0 | 0 | ||||
| DAVID J MADIGAN | |||||||||
| DIRECTOR | 5.00 | X | 46100 | 0 | 0 | ||||
| KATHLEEN A MCDONOUGH | |||||||||
| DIRECTOR | 5.00 | X | 51100 | 0 | 0 | ||||
| MARK G MULLER | |||||||||
| DIRECTOR | 5.00 | X | 50300 | 0 | 0 | ||||
| JOHN E PETERSON | |||||||||
| DIRECTOR | 5.00 | X | 32210 | 0 | 0 | ||||
| BENJAMIN S THOMPSON | |||||||||
| DIRECTOR | 5.00 | X | 46100 | 0 | 0 | ||||
| C CHRISTOPHER TROWER | |||||||||
| DIRECTOR | 5.00 | X | 46100 | 0 | 0 | ||||
| KEVIN L WILLENS | |||||||||
| DIRECTOR | 5.00 | X | 50000 | 0 | 0 | ||||
| ADELA CEPEDA | |||||||||
| DIRECTOR | 5.00 | X | 46100 | 0 | 0 | ||||
| ROBERT A LAMB | |||||||||
| DIRECTOR, BD VICE CHAIR | 5.00 | X | 46100 | 0 | 0 | X | |||
| NOREEN P WHITE | |||||||||
| DIRECTOR | 5.00 | X | 51100 | 0 | 0 | ||||
| STEPHEN E HEANEY | |||||||||
| DIRECTOR | 5.00 | X | 45000 | 0 | 0 | ||||
| ALAN D POLSKY | |||||||||
| DIRECTOR, BOARD CHAIR | 7.00 | X | 51100 | 0 | 0 | X | |||
| DALL FORSYTHE | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| PETER J TAYLOR | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| JOSEPH J GERACI | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| DANIEL HEIMOWITZ | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| EDWARD DE LA ROSA | |||||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | ||||
| LYNNETTE KELLY | |||||||||
| EXECUTIVE DIRECTOR | 40.00 | 882615 | 0 | 93348 | X | ||||
| RONALD W SMITH | |||||||||
| SECRETARY | 40.00 | 175022 | 0 | 30475 | X | ||||
| AMYTIS G RAMOS | |||||||||
| ASSISTANT SECRETARY | 40.00 | 69488 | 0 | 41457 | X | ||||
| ELIZABETH A WOLFE | |||||||||
| TREASURER AND CFO | 40.00 | 295152 | 0 | 39369 | X | ||||
| SARA MAJROH | |||||||||
| ASSISTANT SECRETARY | 40.00 | 89145 | 0 | 16926 | X | ||||
| HAROLD L JOHNSON JR | |||||||||
| DEPUTY EXECUTIVE DIRECTOR | 40.00 | 502308 | 0 | 20868 | X | ||||
| ERNESTO A LANZA | |||||||||
| CHIEF LEGAL COUNS & DED | 40.00 | 463702 | 0 | 35083 | X | ||||
| JANET EAKES | |||||||||
| COO | 40.00 | 262496 | 0 | 46252 | X | ||||
| ALAN MORISATO | |||||||||
| CHIEF OPS AND TECH OFFICER | 40.00 | 259429 | 0 | 23434 | X | ||||
| MARGARET HENRY | |||||||||
| GENERAL COUNSEL MARK REG | 40.00 | 315751 | 0 | 37083 | X | ||||
| LAWRENCE P SANDOR | |||||||||
| DEP GEN COUNS REG SUPPORT | 40.00 | 270662 | 0 | 24428 | X | ||||
| KAREN DUBRUL | |||||||||
| ASSOC GENERAL COUNSEL | 40.00 | 240869 | 0 | 35050 | X | ||||
| LESLIE CAREY | |||||||||
| ASSOC GENERAL COUNSEL | 40.00 | 232211 | 0 | 35587 | X | ||||
| KATHLEEN MILES | |||||||||
| ASSOC GENERAL COUNSEL | 40.00 | 224900 | 0 | 23142 | X | ||||
| JENNIFER A GALLOWAY | |||||||||
| CHIEF COMMUNICATIONS OFFICER | 40.00 | 178316 | 0 | 34342 | X | ||||
| JOHH W YOUNG | |||||||||
| DIRECTOR, BD VICE CHAIR | 4.00 | 56100 | 0 | 0 | X | ||||
| FRANK THOMAS HOWARD | |||||||||
| DIRECTOR | 4.00 | 45000 | 0 | 0 | X | ||||
| MARTIN H VOGTSBERGER | |||||||||
| DIRECTOR | 4.00 | 51100 | 0 | 0 | X | ||||
| STANLEY E GRAYSON | |||||||||
| DIRECTOR | 4.00 | 46100 | 0 | 0 | X | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 5486076 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 536844 | TotalOtherCompensation |
| Number Individuals GT100 K | 31 | 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 | 1779050 |
| HBW GROUP | |||||
| 1055 FIRST STREET SUITE 200 | ROCKVILLE | MD | 20850 | GENERAL CONTRACTOR | 329254 |
| SUTHERLAND GLOBAL SERVICES | |||||
| 1160 PITTSFORD-VICTOR ROAD | PITTSFORD | NY | 14534 | CALL CENTER | 298446 |
| ABS CONSULTING | |||||
| 5527 SULLY LAKE DRIVE | CENTREVILLE | VA | 20120 | SOFTWARE DEVELOPMENT | 163000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 4 | NumberOfContractorsGT100K |
| Membership Dues | 35445924 | MembershipDues |
| Total Contributions | 35445924 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| RULE VIOLATION REVENUE | 900099 | 2771735 | 2771735 |
| DATA SUBSCRIPTIONS | 900099 | 1481011 | 1481011 |
| PROF QUAL EXAM FEES | 900099 | 141840 | 141840 |
| OTHER | 900099 | 10801 | 10801 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 4405387 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 41352 | TotalRevenueColumn |
| Exclusion | $41,352 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 39892663 | TotalRevenueColumn |
| Related Or Exempt Function Income | 4405387 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $41,352 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4076612 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7826198 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 509638 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 935870 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 645387 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 88459 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 160464 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1657790 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 501491 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1034737 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2228828 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 506539 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 317492 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 772 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4343818 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 180280 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| ELECTRONIC INFO FEE | 1094081 |
| TEMP AGENCY STAFF | 277272 |
| MSRB PUBLICATIONS | 86815 |
| DUES, REGIST. & TRAININ | 81802 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 282367 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 26836712 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2810344 | BOY |
| EOY | 2646902 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 121619 | BOY |
| EOY | 38785 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6247626 | BOY |
| EOY | 8087805 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 440613 | BOY |
| EOY | 393609 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 26566183 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 20153777 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7710858 | BOY |
| EOY | 6412406 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19320350 | BOY |
| EOY | 32461736 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 36651410 | BOY |
| EOY | 50041243 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1610207 | BOY |
| EOY | 2081436 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1702267 | BOY |
| EOY | 1565245 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3312474 | BOY |
| EOY | 3646681 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33338936 | BOY |
| EOY | 46394562 | 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 | 33338936 | BOY |
| EOY | 46394562 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 36651410 | BOY |
| EOY | 50041243 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 13055951 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -325 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| 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 | 0 | OnlyInHouseLobbying |
| Agree To Carryover Prior Year | 0 | AgreeToCarryoverPriorYear |
| Dues Assessments | 35445924 | DuesAssessments |
| Non Ded Lobby Political Current | 1725 | NonDedLobbyPoliticalCurrent |
| Non Ded Lobby Political Total | 1725 | NonDedLobbyPoliticalTotal |
| Taxable | $1,725 | TaxableAmount |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1845584 | OtherCostOrOtherBasis |
| Depreciation | 1066953 | Depreciation |
| Book Value | 778631 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2445996 | OtherCostOrOtherBasis |
| Depreciation | 1802950 | Depreciation |
| Book Value | 643046 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 22274603 | OtherCostOrOtherBasis |
| Depreciation | 17283874 | Depreciation |
| Book Value | 4990729 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 6412406 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DEFERRED RENT | $1,387,313 |
| DEFERRED COMPENSATION | $177,932 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 1565245 | TotalOfAmounts |
| Total Revenue | 39892663 | TotalRevenue |
| Total Expenses | 26836712 | TotalExpenses |
| Excess Or Deficit For Year | 13055951 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -325 | NetUnrealizedGLOnInvestments |
| Total Adjustments | -325 | TotalAdjustments |
| Excess Or Deficit Per FS | 13055626 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 39892338 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -325 | NetUnrealizedGainsInvestments |
| Revenue Not Rptd F990 | -325 | RevenueNotRptdF990 |
| Revenue Subtotal | 39892663 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 39892663 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 26836712 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 26836712 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 26836712 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | PART X, LINE 2: 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. NO PROVISION FOR INCOME TAXES HAS BEEN MADE AS OF SEPTEMBER 30, 2012. THE MSRB ADDRESSES UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH ASC TOPIC 740, INCOME TAXES, WHICH PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, PRESENTED AND DISCLOSED IN FINANCIAL STATEMENTS. DURING THE YEARS FROM 2009 TO 2012, WHICH REPRESENT THE YEARS MANAGEMENT CONSIDERS TO BE OPEN FOR EXAMINATION BY TAXING AUTHORITIES, MANAGEMENT DID NOT IDENTIFY THE EXISTENCE OF ANY UNCERTAIN TAX POSITION. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | X | FirstClassOrCharterTravel |
| 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 | 1 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (17 entries)
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LYNNETTE KELLY | |||||||||||||
| 618883 | 0 | 50000 | 0 | 213732 | 0 | 72050 | 0 | 21298 | 0 | 975963 | 0 | 105000 | 0 |
| RONALD W SMITH | |||||||||||||
| 174228 | 0 | 0 | 0 | 794 | 0 | 19651 | 0 | 10824 | 0 | 205497 | 0 | 0 | 0 |
| ELIZABETH A WOLFE | |||||||||||||
| 293910 | 0 | 0 | 0 | 1242 | 0 | 20438 | 0 | 18931 | 0 | 334521 | 0 | 0 | 0 |
| HAROLD L JOHNSON JR | |||||||||||||
| 101192 | 0 | 0 | 0 | 401116 | 0 | 15833 | 0 | 5035 | 0 | 523176 | 0 | 0 | 0 |
| ERNESTO A LANZA | |||||||||||||
| 462403 | 0 | 0 | 0 | 1299 | 0 | 29400 | 0 | 5683 | 0 | 498785 | 0 | 0 | 0 |
| JANET EAKES | |||||||||||||
| 260018 | 0 | 0 | 0 | 2478 | 0 | 22050 | 0 | 24202 | 0 | 308748 | 0 | 0 | 0 |
| ALAN MORISATO | |||||||||||||
| 258277 | 0 | 0 | 0 | 1152 | 0 | 20882 | 0 | 2552 | 0 | 282863 | 0 | 0 | 0 |
| MARGARET HENRY | |||||||||||||
| 312004 | 0 | 0 | 0 | 3747 | 0 | 21574 | 0 | 15509 | 0 | 352834 | 0 | 0 | 0 |
| LAWRENCE P SANDOR | |||||||||||||
| 269852 | 0 | 0 | 0 | 810 | 0 | 21248 | 0 | 3180 | 0 | 295090 | 0 | 0 | 0 |
| KAREN DUBRUL | |||||||||||||
| 237445 | 0 | 0 | 0 | 3424 | 0 | 19477 | 0 | 15573 | 0 | 275919 | 0 | 0 | 0 |
| LESLIE CAREY | |||||||||||||
| 231709 | 0 | 0 | 0 | 502 | 0 | 20511 | 0 | 15076 | 0 | 267798 | 0 | 0 | 0 |
| KATHLEEN MILES | |||||||||||||
| 223840 | 0 | 0 | 0 | 1060 | 0 | 14077 | 0 | 9065 | 0 | 248042 | 0 | 0 | 0 |
| JENNIFER A GALLOWAY | |||||||||||||
| 177756 | 0 | 0 | 0 | 560 | 0 | 16111 | 0 | 18231 | 0 | 212658 | 0 | 0 | 0 |
| JOHH W YOUNG | |||||||||||||
| 56100 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 56100 | 0 | 0 | 0 |
| FRANK THOMAS HOWARD | |||||||||||||
| 45000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 45000 | 0 | 0 | 0 |
| MARTIN H VOGTSBERGER | |||||||||||||
| 51100 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 51100 | 0 | 0 | 0 |
| STANLEY E GRAYSON | |||||||||||||
| 46100 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 46100 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (3 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. |
| PART I, LINES 4A-B | SEVERENCE PAYMENT: HAROLD L. JOHNSON, JR. $398,626 |
| PART I, LINES 4A-B | LYNNETTE KELLY PARTICIPATED IN A 457(F) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. A DISTRIBUTION OF $126,312 WAS MADE DURING THE YEAR. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | THE DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT, PUB. L. NO. 111-203, SECTION. 975, 124 STAT. 1376 (2010) (THE "DODD-FRANK ACT"), WAS ENACTED IN JULY 2010 AND, IN PART, AMENDED SECTION 15B OF THE SECURITIES EXCHANGE ACT OF 1934, 15 U.S.C. SECTION. 78O-4, UNDER WHICH THE MSRB WAS ORIGINALLY CREATED IN 1975 AND WHICH GOVERNS THE ACTIVITIES OF THE MSRB. THE DODD-FRANK ACT EXPANDED THE MISSION AND RULEMAKING AUTHORITY OF THE ORGANIZATION AND CONTAINED VARIOUS PROVISIONS THAT AFFECTED THE GOVERNANCE AND MANDATE OF THE ORGANIZATION. IN PARTICULAR, THE DODD-FRANK ACT CHANGED THE COMPOSITION OF THE MSRB'S BOARD OF DIRECTORS, EFFECTIVE FOR THE FISCAL YEARS BEGINNING OCTOBER 1, 2010 AND THEREAFTER, TO CONSIST OF A MAJORITY OF PUBLIC MEMBERS AND TO INCLUDE REPRESENTATION OF MUNICIPAL ADVISORS, IN ADDITION TO EXISTING REPRESENTATION OF BROKER-DEALERS AND BANK DEALERS. THE MSRB AMENDED AND FILED ITS ARTICLES OF INCORPORATION EFFECTIVE OCTOBER 1, 2011 TO REFLECT FINAL CHANGES IN THE BOARD OF DIRECTORS' STRUCTURE AS REQUIRED BY THE DODD-FRANK ACT BY RETAINING THE BOARD OF DIRECTORS SIZE AT 21 MEMBERS AND DIVIDING BOARD MEMBERS INTO THREE CLASSES, EACH CLASS COMPOSED OF SEVEN MEMBERS WHO WILL SERVE THREE-YEAR, STAGGERED TERMS. | |
| 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 CONDUCTED ITS REVIEW ON 01/23/2013 AND THE BOARD OF DIRECTORS CONDUCTED ITS REVIEW ON 01/24/2013. | |
| 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 TRAINED ANNUALLY 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 THE MSRB WITH COMPARABLE PEER ORGANIZATIONS IN THE 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, WHISTLEBLOWER POLICY, FINANCIAL STATEMENTS, THE IRS FORM 990, CERTAIN FINANCIAL POLICIES AND OTHER GOVERNANCE-RELATED POLICIES AND PROCEDURES. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -325. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| 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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