MUNICIPAL SECURITIES RULEMAKING BOARD: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- MUNICIPAL SECURITIES RULEMAKING BOARD (EIN 52-1042433)
- Tax period
- 2009-10-01 to 2010-09-30
- Filed
- 2011-02-02
- IRS object ID
- 201120339349300712
- Schema version
- 2009v1.7
- 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 | 2011-02-02T14:17:40-06:00 | Timestamp |
| Tax Period End Date | 2010-09-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Grant Thornton LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2010 CORPORATE RIDGE SUITE 400 | AddressLine1 |
| City | MCLEAN | City |
| State | VA | State |
| ZIP Code | 22102 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2009-10-01 | 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 HOTCHKISS | Name |
| Title | EXECUTIVE DIRECTOR | Title |
| Phone | 7037976600 | Phone |
| Date Signed | 2011-02-02 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7038477500 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | LYNNETTE KELLY HOTCHKISS | 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 | 22892379 | GrossReceipts |
| Group Return For Affiliates | false | 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 | SEE SCHEDULE O | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 15 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 15 | NbrIndependentVotingMembers |
| Total Nbr Employees | 99 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 18619657 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 21944152 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 441392 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 643379 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 655439 | InvestmentIncomePriorYear |
| Investment Income Current Year | 304848 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 27511 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 19743999 | TotalRevenuePriorYear |
| Total Revenue Current Year | 22892379 | 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 | 10419956 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 11405827 | 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 | 10861304 | OtherExpensePriorYear |
| Other Expenses Current Year | 11725581 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 21281260 | TotalExpensesPriorYear |
| Total Expenses Current Year | 23131408 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -1537261 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -239029 | RevenuesLessExpensesCY |
| Total Assets BOY | 30777664 | TotalAssetsBOY |
| Total Assets EOY | 29760889 | TotalAssetsEOY |
| Total Liabilities BOY | 4391176 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 3825563 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 26386488 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 25935326 | NetAssetsOrFundBalancesEOY |
| Mission Description | SEE SCHEDULE O | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | true | SignificantChange |
| Description | SEE SCHEDULE O | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | SEE SCHEDULE O | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | SEE SCHEDULE O | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Subject To Proxy Tax | true | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | true | BalanceSheetAmountsReported |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 36 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 99 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Nbr Voting Governing Body Members | 15 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 15 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | true | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | true | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | RONALD W SMITH | NamePerson |
| Telephone Number | 7037976600 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1900 DUKE STREET STE 600 | AddressLine1 |
| City | ALEXANDRIA | City |
| State | VA | State |
| ZIP Code | 223143412 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (34 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|---|
| PETER CLARKE | |||||||||
| dir/vice chair fy09/chair fy10 | 5.0 | X | X | 60000 | 0 | 0 | |||
| DONALD O'BRIEN | |||||||||
| DIRECTOR | 1.0 | X | 8610 | 0 | 0 | ||||
| DAVID LIPTON | |||||||||
| DIRECTOR | 3.0 | X | 45000 | 0 | 0 | ||||
| ALAN MURPHY | |||||||||
| DIRECTOR/vice chair fy 10 | 4.0 | X | X | 50000 | 0 | 0 | |||
| TERRY AGRISS | |||||||||
| DIRECTOR | 4.0 | X | 50000 | 0 | 0 | ||||
| KEVIN WILLENS | |||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | ||||
| MICHAEL BARTOLOTTA | |||||||||
| DIRECTOR | 2.0 | X | 11250 | 0 | 0 | ||||
| STAN GRAYSON | |||||||||
| DIRECTOR | 3.0 | X | 45000 | 0 | 0 | ||||
| F THOMAS HOWARD | |||||||||
| DIRECTOR | 3.0 | X | 45000 | 0 | 0 | ||||
| KATLEEN A MCDONOUGH | |||||||||
| DIRECTOR | 3.0 | X | 45000 | 0 | 0 | ||||
| MARTIN H VOGTSBERGER | |||||||||
| DIRECTOR | 3.0 | X | 45000 | 0 | 0 | ||||
| JOHN W YOUNG | |||||||||
| DIRECTOR | 3.0 | X | 31411 | 0 | 0 | ||||
| MARK MULLER | |||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | ||||
| STEPHEN E HEANEY | |||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | ||||
| ALAN POLSKY | |||||||||
| DIRECTOR | 1.0 | X | 0 | 0 | 0 | ||||
| RONALD W SMITH | |||||||||
| SECRETARY | 40.0 | X | 164322 | 0 | 27413 | ||||
| MELANIE S RICHARDSON | |||||||||
| TREASURER & CFO | 40.0 | X | 185121 | 0 | 48290 | ||||
| AMYTIS G RAMOS | |||||||||
| ASSISTANT SECRETARY | 40.0 | X | 3366 | 0 | 373 | ||||
| LYNNETTE KELLY HOTCHKISS | |||||||||
| PRESIDENT & EXECUTIVE DIRECTOR | 40.0 | X | 567420 | 0 | 81010 | ||||
| HAROLD L JOHNSON JR | |||||||||
| DEPUTY EXECUTIVE DIRECTOR | 40.0 | 475200 | 0 | 42766 | X | ||||
| ERNESTO A LANZA | |||||||||
| GENERAL COUNSEL | 40.0 | 425889 | 0 | 37194 | X | ||||
| JANET EAKES | |||||||||
| CHIEF OPERATING OFFICER | 40.0 | 391768 | 0 | 48534 | X | ||||
| LAWRENCE SANDOR | |||||||||
| SENIOR ASSOCIATE GENERAL COUNS | 40.0 | 253588 | 0 | 28234 | X | ||||
| MARGARET HENRY | |||||||||
| DEPUTY GENERAL COUNSEL | 40.0 | 243572 | 0 | 25017 | X | ||||
| LESLIE CAREY | |||||||||
| ASSOCIATE GENERAL COUNSEL | 40.0 | 227185 | 0 | 30185 | X | ||||
| JOHN DOYLE | |||||||||
| DIRECTOR PROJECT MANAGEMENT | 40.0 | 210880 | 0 | 43480 | X | ||||
| ALAN J MORISATO | |||||||||
| CHIEF TECHNOLOGY OFFICER | 40.0 | 197610 | 0 | 27126 | X | ||||
| STEVE WOOL | |||||||||
| DIRECTOR | 3.0 | 37911 | 0 | 0 | X | ||||
| JAMES POSTHAUER | |||||||||
| DIRECTOR | 4.0 | 50000 | 0 | 0 | X | ||||
| MICHAEL IMHOFF | |||||||||
| DIRECTOR | 4.0 | 50000 | 0 | 0 | X | ||||
| MAUD DAUDON | |||||||||
| DIRECTOR | 4.0 | 50000 | 0 | 0 | X | ||||
| RONALD STACK | |||||||||
| DIRECTOR/chair fy09 | 6.0 | 75000 | 0 | 0 | X | ||||
| ROBERT ZUBAK | |||||||||
| DIRECTOR | 4.0 | 50000 | 0 | 0 | X | ||||
| PATRICIA HARDY LAGRONE | |||||||||
| ASSISTANT SECRETARY | 40.0 | 153283 | 0 | 14567 | X | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 4248386 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 454189 | TotalOtherCompensation |
| Number Individuals GT100 K | 22 | NumberIndividualsGT100K |
| Formers Listed | true | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation
Name Of Contractor NameOfContractor
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | SEE SCHEDULE O | NamePerson |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Of Contractor | AddressOfContractor |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 9 | NumberOfContractorsGT100K |
| Membership Dues | 21944152 | MembershipDues |
| Total Contributions | 21944152 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| SUBSCRIPTION FEES | 900099 | 533547 | 533547 |
| PUBLICATIONS | 900099 | 10512 | 10512 |
| PROF QUAL EXAM FEES | 900099 | 92220 | 92220 |
| OTHER | 900099 | 7100 | 7100 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 643379 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 304848 | TotalRevenueColumn |
| Exclusion | $304,848 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 0 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 22892379 | TotalRevenueColumn |
| Related Or Exempt Function Income | 643379 | RelatedOrExemptFunctionIncome |
| Exclusion | $304,848 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3491763 | Total |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6000716 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 486977 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 960258 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 466113 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 18987 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 192756 | Total |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2560862 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 600883 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 489904 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2299284 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 443628 | Total |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 183219 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5771 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3252682 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| ELECTRONIC INFO. SERVICES | 1146424 |
| TEMP. CLERICAL ASSISTANCE | 192252 |
| MSRB PUBLICATIONS | 92945 |
| SUBSCRIPTIONS/PUBLICATIONS | 25200 |
| DUES, REGSTRN & TRAINING | 94993 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 125791 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 23131408 | Total |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1474170 | BOY |
| EOY | 1736866 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3687655 | BOY |
| EOY | 3927581 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 159168 | BOY |
| EOY | 203424 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 20368734 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 12782422 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7023931 | BOY |
| EOY | 7586312 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18244014 | BOY |
| EOY | 16228328 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 188726 | BOY |
| EOY | 78378 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 30777664 | BOY |
| EOY | 29760889 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2064341 | BOY |
| EOY | 1824503 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 97629 | BOY |
| EOY | 0 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2229206 | BOY |
| EOY | 2001060 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4391176 | BOY |
| EOY | 3825563 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 26386489 | BOY |
| EOY | 25935326 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 26386489 | BOY |
| EOY | 25935326 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 30777664 | BOY |
| EOY | 29760889 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Grassroots Lobbying | TotalGrassrootsLobbying | |
| Total Direct Lobbying | TotalDirectLobbying | |
| Total Lobbying Expenditures | TotalLobbyingExpenditures | |
| Other Exempt Purpose Expenditures | OtherExemptPurposeExpenditures | |
| Total Exempt Purpose Expenditures | TotalExemptPurposeExpenditures | |
| Lobbying Nontaxable | LobbyingNontaxableAmount | |
| Grassroots Nontaxable | GrassrootsNontaxableAmount | |
| Tot Lobbying Grassroot Minus Non Tx | TotLobbyingGrassrootMinusNonTx | |
| Tot Lobby Expend Mns Lobbying Nontx | TotLobbyExpendMnsLobbyingNontx | |
| Substantially All Dues Nondeduct | false | SubstantiallyAllDuesNondeduct |
| Only In House Lobbying | false | OnlyInHouseLobbying |
| Agree To Carryover Prior Year | false | AgreeToCarryoverPriorYear |
| Dues Assessments | 21944152 | DuesAssessments |
| Non Ded Lobby Political Current | 38911 | NonDedLobbyPoliticalCurrent |
| Non Ded Lobby Political Total | 38911 | NonDedLobbyPoliticalTotal |
| Taxable | $38,911 | TaxableAmount |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts | |
| Land | Land | |
| Buildings | Buildings |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1421356 | OtherCostOrOtherBasis |
| Depreciation | 796229 | Depreciation |
| Book Value | 625127 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 17528563 | OtherCostOrOtherBasis |
| Depreciation | 10666911 | Depreciation |
| Book Value | 6861652 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1418815 | OtherCostOrOtherBasis |
| Depreciation | 1319282 | Depreciation |
| Book Value | 99533 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 7586312 | TotalOfBookValueLandBuildings |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (3 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| SEVERANCE LIABILITY | $71,829 |
| DEFERRED RENT | $1,814,979 |
| DEFERRED COMPENSATION | $114,252 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 2001060 | TotalOfAmounts |
| Total Revenue | 22892379 | TotalRevenue |
| Total Expenses | 23131408 | TotalExpenses |
| Excess Or Deficit For Year | -239029 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -212133 | NetUnrealizedGLOnInvestments |
| Total Adjustments | -212133 | TotalAdjustments |
| Excess Or Deficit Per FS | -451162 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 22680246 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -212133 | NetUnrealizedGainsInvestments |
| Revenue Not Rptd F990 | -212133 | RevenueNotRptdF990 |
| Revenue Subtotal | 22892379 | RevenueSubtotal |
| Total Revenue Per Form990 | 22892379 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 23131408 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 23131408 | ExpensesSubtotal |
| Total Expenses Per Form990 | 23131408 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PART X, LINE 2 | Identifier |
| Return Reference | FIN 48 FOOTNOTE TO FINANCIAL STATEMENTS | ReturnReference |
| Explanation | EFFECTIVE SEPTEMBER 30, 2010, MSRB ADOPTED A NEW GUIDANCE THAT CREATES A SINGLE MODEL TO ADDRESS UNCERTAINTY IN TAX POSITIONS AND CLARIFIED THE ACCOUNTING FOR INCOME TAXES BY PRESCRIBING THE MINIMUM RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN ITS FINANCIAL STATEMENTS. UNDER THE REQUIREMENTS OF THIS GUIDANCE, ORGANIZATIONS COULD NOW BE REQUIRED TO RECORD AN OBLIGATION AS THE RESULT OF TAX POSITIONS THEY HAVE HISTORICALLY TAKEN ON VARIOUS TAX EXPOSURE ITEMS. THE IMPACT OF THE ADOPTION OF THIS GUIDANCE DID NOT HAVE A MATERIAL EFFECT ON THE FINANCIAL STATEMENTS OF MSRB. PRIOR TO THE ADOPTION OF THIS GUIDANCE, THE DETERMINATION OF WHEN TO RECORD A LIABILITY FOR A TAX EXPOSURE WAS BASED ON WHETHER A LIABILITY WAS CONSIDERED PROBABLE AND REASONABLY ESTIMABLE IN ACCORDANCE WITH GUIDANCE CONCERNING RECORDING OF CONTINGENCIES. | 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 | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | 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 | true | SeverancePayment |
| Supplemental Nonqual Retire Plan | true | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (18 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RONALD W SMITH | |||||||||||||
| 164322 | 0 | 0 | 0 | 0 | 0 | 18658 | 0 | 8755 | 0 | 191735 | 0 | 0 | 0 |
| MELANIE S RICHARDSON | |||||||||||||
| 185121 | 0 | 0 | 0 | 0 | 0 | 21806 | 0 | 26484 | 0 | 233411 | 0 | 0 | 0 |
| PATRICIA HARDY LAGRONE | |||||||||||||
| 153283 | 0 | 0 | 0 | 0 | 0 | 7405 | 0 | 7162 | 0 | 167850 | 0 | 0 | 0 |
| STEVE WOOL | |||||||||||||
| 37911 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 37911 | 0 | 0 | 0 |
| JAMES POSTHAUER | |||||||||||||
| 50000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50000 | 0 | 0 | 0 |
| MICHAEL IMHOFF | |||||||||||||
| 50000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50000 | 0 | 0 | 0 |
| MAUD DAUDON | |||||||||||||
| 50000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50000 | 0 | 0 | 0 |
| RONALD STACK | |||||||||||||
| 75000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 75000 | 0 | 0 | 0 |
| ROBERT ZUBAK | |||||||||||||
| 50000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 50000 | 0 | 0 | 0 |
| HAROLD L JOHNSON JR | |||||||||||||
| 475200 | 0 | 0 | 0 | 0 | 0 | 27600 | 0 | 15166 | 0 | 517966 | 0 | 0 | 0 |
| ERNESTO A LANZA | |||||||||||||
| 425889 | 0 | 0 | 0 | 0 | 0 | 27600 | 0 | 9594 | 0 | 463083 | 0 | 0 | 0 |
| JANET EAKES | |||||||||||||
| 391768 | 0 | 0 | 0 | 0 | 0 | 20700 | 0 | 27834 | 0 | 440302 | 0 | 0 | 0 |
| LAWRENCE SANDOR | |||||||||||||
| 253588 | 0 | 0 | 0 | 0 | 0 | 18640 | 0 | 9594 | 0 | 281822 | 0 | 0 | 0 |
| MARGARET HENRY | |||||||||||||
| 243572 | 0 | 0 | 0 | 0 | 0 | 16762 | 0 | 8255 | 0 | 268589 | 0 | 0 | 0 |
| LESLIE CAREY | |||||||||||||
| 227185 | 0 | 0 | 0 | 0 | 0 | 20700 | 0 | 9485 | 0 | 257370 | 0 | 0 | 0 |
| JOHN DOYLE | |||||||||||||
| 210880 | 0 | 0 | 0 | 0 | 0 | 17646 | 0 | 25834 | 0 | 254360 | 0 | 0 | 0 |
| ALAN J MORISATO | |||||||||||||
| 170610 | 0 | 27000 | 0 | 0 | 0 | 12815 | 0 | 14311 | 0 | 224736 | 0 | 0 | 0 |
| LYNNETTE KELLY HOTCHKISS | |||||||||||||
| 567420 | 0 | 0 | 0 | 0 | 0 | 55700 | 0 | 25310 | 0 | 648430 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Part I (Question 1b) | Provided Compensation Information | The MSRB reimburses Board members and the Executive Director for the cost of business class rail fares and 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. MSRB provides a gross-up for staff for the value of group-term life insurance in excess of $50,000. |
| Part I (Question 4A) | Severance Payment | Patricia Hardy Lagrone $82,992 PART I (QUESTION 4B) Supplemental Nonqualified Retirement Plan Lynnette K. Hotchkiss $35,000 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (11 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Form 990, Part I and III (Question 1) | Organization's Mission | The Mission of the Municipal Securities Rulemaking Board (MSRB) is to protect investors, municipal entities and the public interest in a fair and efficient market for municipal securities through: (1) Establishment of rules for dealers and municipal advisors; (2) Collection and dissemination of market information; and, (3) Education, outreach and market leadership. |
| Form 990, Part III (Question 3) | Significant Changes to Program Services | In June 2010, the MSRB terminated its public access facility that provided access to printed copies of official statements, advance refunding and other documents made available by the MSRB to the public. All current information that was accessible to the public through the public access facility is now readily accessible through the MSRB website, www.msrb.org, or the Electronic Municipal Market Access ("EMMA") website, www.emma.msrb.org. |
| Form 990, Part III (Question 4) | Exempt Purpose Achievements | Question 4a: Establishment of Rules The MSRB was created by Congress to adopt rules with respect to transactions in municipal securities effected by Brokers, Dealers and municipal Securities Dealers (Collectively, "Dealers"). The rules seek to prevent fraudulent and manipulative acts and practices; to promote just and equitable principles of trade; to foster cooperation and coordination with other regulators and marketplace entities engaged in the clearance, settlement and facilitation of transactions in municipal securities or in the processing of information in connection with such transactions; to remove impediments to and perfect the mechanism of a free and open market in municipal securities; and to protect investors and the public interest. Such rules must be approved by the Securities and Exchange Commission (SEC) prior to effectiveness, and the MSRB's activities are subject to the general oversight of the SEC. The MSRB's funding is provided primarily by dues and assessments placed by the MSRB on Dealers, which funds are used in support of the MSRB's rulemaking activities and such other activities in support of its mission, and is supplemented by charges in connection with certain automated subscription services. The MSRB also has established programs in connection with: the qualification of professionals employed by dealers; outreach, education and market leadership with respect to the MSRB's rules and market information programs, as well as with respect to other important information or developments having an impact on investor protection or otherwise affecting the municipal securities market; research, providing statistical and other data based on the information collected by the MSRB or other market information sources; and regulatory cooperation and coordination with the relevant enforcement agencies charged with examining for compliance with and enforcing MSRB rules. Beginning on October 1, 2010, the MSRB was granted rulemaking authority over municipal advisors and also was charged with protecting municipal entities and obligated persons. Question 4b: Collection of Information In order to achieve its exempt purpose, the MSRB collects information from dealers, issuers, obligated persons, and/or their agents. The MSRB has established under its rulemaking authority information facilities that support disclosure and transparency by the municipal market participants. The MSRB market information programs provide critical information to the municipal securities market, to regulators charged with examining for compliance with and enforcing MSRB rules, and to other regulatory and policymaking bodies through the collection of documents and/or data (collectively, "information") from dealers, issuers, obligated persons, and/or their agents, and the re-dissemination of such information, as described below. The MSRB collects information regarding: 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); Short-Term Interest Rate Information (the MSRB collects such information and related data with respect to municipal securities bearing interest at rates that change from time to time); and political contribution data (concerning political contributions of dealers, and of certain of their municipal securities personnel and political action committees, together with information on certain new issue municipal securities activities of dealers). The MSRB provides public access to the information through the internet and most of this information currently is or will be available to subscribers through automated subscription services. Question 4c: Providing Information Utilizing information collected, the MSRB's Market Information Programs provide critical information to the Municipal Securities Market, to regulators charged with examining for compliance with and enforcing MSRB rules, and to other regulatory and policymaking bodies. The MSRB makes the information noted above, together with certain other market information, educational materials and statistical data, available to the public through its electronic municipal market access (EMMA) web site at emma.msrb.org. |
| Form 990, Part VI (Question 2) | Family or Business Relationships | 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. The employers of members of the governing body, 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 securities market on the same terms as are generally offered to others in the same line of business. |
| Form 990, Part VI (Question 4) | Change in Organizational Documents | The Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No. 111-203, 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. 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 affect the governance and mandate of the organization, effective on October 1, 2010, which coincides with the first day of the MSRB's 2011 fiscal year. The MSRB amended its Bylaws in September 2010 to reflect the change in composition of its 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, all as mandated by the Dodd-Frank Act. In addition, MSRB staff prepared amended Articles of Incorporation to reflect the expanded jurisdiction of the MSRB under the Dodd-Frank Act, which amended Articles of Incorporation were filed on the first day of the MSRB's 2011 fiscal year. The Articles of Incorporation now provide that Board members elected for fiscal year 2011 will have two year terms and all other Board members will have three year terms to reflect the new, expanded composition of the Board and the terms of office for Board members during a two-year transitional period. Finally, the changes to the Articles of Incorporation reflect the evolving role of the MSRB as a self-regulatory organization in providing education, outreach and market leadership regarding issues that impact the municipal securities market. |
| Form 990, Part VI (Question 7b) | Approval of Some Governing Body Decisions | Certain decisions of the governing body are subject to approval by the Securities and Exchange Commission (SEC). All proposed rule changes of the MSRB are subject to approval by the SEC under Section 19(B) of the Securities Exchange Act of 1934. In addition, prior to October 1, 2010, public representatives elected to serve on the governing body are subject to the approval of the SEC under Section 15(B)(2)(B) of the Securities Exchange Act of 1934 to assure that no one of them is associated with any broker, dealer or municipal securities dealer(other than by reason of being under common control with, or indirectly controlling, any broker or dealer which is not a municipal securities broker or municipal securities dealer) and that at least one is representative of investors in municipal securities and at least one is representative of issuers of municipal securities. |
| Form 990, Part VI (Question 11A) | Review of Form 990 | The governing body of the organization 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 governing body in connection with the governing body's review of such form. The Audit Committee conducted its review on 01/26/2011 and the governing body conducted its review on 01/27/2011. |
| Form 990, Part VI (Question 12c) | Conflict of Interest Policy | The MSRB maintains a code of ethics and business conduct as well as a conflicts of interest policy. In connection with the election of new members of the governing body, 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 governing body. In particular, public representatives may not be associated with any broker, dealer or municipal securities dealer (other than by reason of being under common control with, or indirectly controlling, any broker or dealer which is not a municipal securities broker or municipal securities dealer). Additionally, Board members may not deliberate or vote on any matter before the board or one of its Committees in which the Board member's employer has a particular interest that may present a conflict. The MSRB also has a whistleblower policy with complaint handling procedures. The conflicts of interest and whistleblower policies, as well as the code of ethics and business conduct, are reviewed annually with officers, directors and key employees. All employees of the organization are trained annually on these policies and required to sign an acknowledgment. In addition, the MSRB has a policy requiring that officers, directors, trustees, and key employees disclose annually interests that could give rise to conflicts. |
| Form 990, Part VI (Question 15a + 15b) | Compensation Review and Approval Process | Under the MSRB written compensation strategy and program, the compensation committee (comprised of members of the board) is responsible for making recommendations and the governing body is responsible for approving the organization wide compensation strategy. The annual salary budget, salary grades, and pay ranges are approved by the compensation committee based on information received from an external salary consultant. The external salary consultant compares our organization with comparable peer groups in our local geographic market and within the industry as appropriate. The full board approves the compensation of the Executive Director and Executive Director establishes the compensation of the key employees within the parameters and philosophy of the approved compensation strategy. |
| Form 990, Part VI (Question 19) | Governing Documents Available to the Public | 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, and other governance-related policies and procedures. |
| Form 990, Part VII, Section B | Compensation of Five Highest Independent Contractors | (1) CC Pace Systems, Inc. 4100 Monument Corner Drive Suite 400 Fairfax, VA 22030 software Development & Recruiting 2,951,206 (2) Accenture PO Box 70629 Chicago, IL 60673 Software Development 1,691,870 (3) Equaterra Dept 0100, PO Box 120110 Dallas, TX 75312 Project Management 377,007 (4) Navigation Arts 7901 Jones Branch Dr McLean, VA 22101 Software Development 227,132 (5) ABS Consulting 5527 Sully Lake Drive Centreville, VA 20120 Software Development 206,200 Total Compensation 5,453,415 |
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