MUNICIPAL SECURITIES RULEMAKING BOARD: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- MUNICIPAL SECURITIES RULEMAKING BOARD (EIN 52-1042433)
- Tax period
- 2024-10-01 to 2025-09-30
- Filed
- 2026-08-03
- IRS object ID
- 202622159349300997
- Schema version
- 2024v5.5
- 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) |
|---|---|---|
| Return | 2026-08-03T21:00:37-05:00 | ReturnTs |
| Tax Period End | 2025-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 991856619 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON ADVISORS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1000 WILSON BOULEVARD SUITE 1500 | AddressLine1Txt |
| City | ARLINGTON | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 22209 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 521042433 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MUNICIPAL SECURITIES RULEMAKING BOARD | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MUNI | BusinessNameControlTxt |
| Phone | 2028381500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1300 I STREET NW STE 1000 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MARK T KIM | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 2028381500 | PhoneNum |
| Signature | 2026-07-31 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MARY TORRETTA | PreparerPersonNm |
| PTIN | P00847851 | PTIN |
| Phone | 7038477500 | PhoneNum |
| Preparation | 2026-07-30 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MARK T KIM | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1300 I STREET NW STE 1000 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $64,236,920 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.MSRB.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1975 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | SEE SCHEDULE OTHE MSRB PROTECTS INVESTORS, MUNICIPAL ENTITIES, OBLIGATED PERSONS, AND THE PUBLIC INTEREST BY PROMOTING A FAIR AND EFFICIENT MUNICIPAL SECURITIES MARKET. | ActivityOrMissionDesc |
| Voting Members Governing Body | 15 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 15 | VotingMembersIndependentCnt |
| Total Employee | 147 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $51,015,785 | PYContributionsGrantsAmt |
| CY Contributions Grants | $58,893,518 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,831,775 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $3,563,579 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,195,868 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,570,057 | CYInvestmentIncomeAmt |
| PY Other Revenue | $7,007 | PYOtherRevenueAmt |
| CY Other Revenue | $80,520 | CYOtherRevenueAmt |
| PY Total Revenue | $56,050,435 | PYTotalRevenueAmt |
| CY Total Revenue | $64,107,674 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $26,905,164 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $28,907,224 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $22,246,094 | PYOtherExpensesAmt |
| CY Other Expenses | $20,746,457 | CYOtherExpensesAmt |
| PY Total Expenses | $49,151,258 | PYTotalExpensesAmt |
| CY Total Expenses | $49,653,681 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $6,899,177 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $14,453,993 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $84,065,143 | TotalAssetsBOYAmt |
| Total Assets EOY | $97,493,666 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $17,055,530 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $15,634,015 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $67,009,613 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $81,859,651 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE OMSRB'S MISSION IS TO PROTECT AND STRENGTHEN THE MUNICIPAL BOND MARKET, ENABLING ACCESS TO CAPITAL, ECONOMIC GROWTH, AND SOCIETAL PROGRESS IN TENS OF THOUSANDS OF COMMUNITIES ACROSS THE COUNTRY.-WE CREATE TRUST IN OUR MARKET THROUGH INFORMED REGULATION OF DEALERS AND MUNICIPAL ADVISORS THAT PROTECTS INVESTORS, ISSUERS AND THE PUBLIC INTEREST.-WE BUILD TECHNOLOGY SYSTEMS THAT POWER OUR MARKET AND PROVIDE TRANSPARENCY FOR THE INVESTING PUBLIC AND OTHER MARKET PARTICIPANTS.-WE SERVE AS THE STEWARD OF MARKET DATA THAT EMPOWERS BETTER DECISION MAKING AND FUELS INNOVATION FOR THE FUTURE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | MARKET REGULATION: MSRB WAS ESTABLISHED BY CONGRESS TO REGULATE SECURITIES FIRMS, BANKS AND MUNICIPAL ADVISORS THAT TRANSACT IN MUNICIPAL SECURITIES AND ENGAGE IN MUNICIPAL ADVISORY ACTIVITIES (COLLECTIVELY "REGULATED ENTITIES") WITH THE GOAL OF PROTECTING INVESTORS, MUNICIPAL ENTITIES, OBLIGATED PERSONS, AND THE PUBLIC INTEREST. (CONTINUED ON SCHEDULE O)MSRB WORKS TO PROTECT INVESTORS AND ISSUERS BY CREATING FAIR, CLEAR, AND EFFECTIVE RULES FOR THE MUNICIPAL SECURITIES MARKET. ITS GOAL IS TO MAKE THE MARKET STRONGER AND MORE COMPETITIVE BY LEVELING THE PLAYING FIELD FOR MARKET PARTICIPANTS AND PROMOTING CAPITAL FORMATION. MSRB'S REGULATORY ACCOMPLISHMENTS IN FISCAL YEAR (FY) 2025 INCLUDE:-TRADE REPORTING: MSRB RESCINDED THE NOT YET EFFECTIVE AMENDMENTS TO RULE G-14 REQUIRING TRADES TO BE REPORTED WITHIN ONE MINUTE. MSRB RETAINED THE CURRENT 15-MINUTE REPORTING STANDARD AFTER DISCUSSION WITH MARKET PARTICIPANTS BUT AMENDED THE RULE TO REQUIRE DEALERS, BEGINNING IN JULY 2026, TO REPORT TRADES "AS SOON AS PRACTICABLE AND HAVE CLEAR POLICIES IN PLACE TO MEET THIS NEW REQUIREMENT.-MSRB ALSO MAINTAINED ITS FOCUS ON RETROSPECTIVE RULE REVIEWS TO ENSURE ITS RULES ARE ACHIEVING THEIR INTENDED PURPOSES AND DON'T CREATE UNNECESSARY BURDENS. MSRB LAUNCHED FIVE MAJOR REVIEWS OF EXISTING RULES:-ADAPTING DEALER SUPERVISION RULES TO THE MODERN WORKPLACE (RULE G-27)-STREAMLINING THE PRIMARY MARKET DISCLOSURE AND DATA SUBMISSION PROCESS (RULE G-32 AND RULE G-34)-UPDATING MUNICIPAL ADVISOR RULES; AND-MODERNIZING DISCLOSURE AND OTHER OBLIGATIONS FOR MUNICIPAL FUND SECURITIES | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MARKET TRANSPARENCY: MSRB HELPS PROTECT AND IMPROVE THE MUNICIPAL SECURITIES MARKET BY RUNNING THE TECHNOLOGY INFRASTRUCTURE. AT THE CENTER OF THIS SYSTEM IS THE (EMMA) ELECTRONIC MUNICIPAL MARKET ACCESS WEBSITE AT EMMA.MSRB.ORG., WHICH GIVES ALL MUNICIPAL MARKET PARTICIPANTS AND THE PUBLIC ACCESS, FREE OF CHARGE, TO KEY MUNICIPAL SECURITIES DATA. (CONTINUED ON SCHEDULE O)IN 2025, MSRB CONTINUED TO INVEST IN A MAJOR REDESIGN OF ITS EMMA WEBSITE, SET TO LAUNCH IN 2026.THIS MULTI-YEAR PROJECT HAS INCLUDED STAKEHOLDER FEEDBACK FROM EMMA USERS THROUGHOUT THE PROCESS, INCLUDING MORE THAN 100 INDUSTRY EXPERTS AND MARKET PARTICIPANTS DURING BETA TESTING OVER THE LAST YEAR. THE NEW EMMA WILL OFFER A MODERN LOOK AND FEEL, EASIER NAVIGATION, A CUSTOMIZABLE DASHBOARD, ENHANCED SEARCH TOOLS, AND NEW DATA, INCLUDING OBLIGOR INFORMATION FOR THE FIRST TIME IN MSRB HISTORY. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MARKET INTEGRITY: MSRB REGULARLY ANALYZES THE DATA IT COLLECTS TO IDENTIFY TRENDS AND INFORM REGULATORY DECISION MAKING AND PUBLISHES RESEARCH TO ASSISTPOLICYMAKERS, MARKET PARTICIPANTS AND THE PUBLIC IN UNDERSTANDING THE MUNICIPAL SECURITIES MARKET. (CONTINUED ON SCHEDULE O)RESEARCH REPORTS PUBLISHED OVER THE PAST YEAR COVERED A VARIETY OF TOPICS INCLUDING:-LIQUIDITY IMPACT OF MUNICIPAL BOND ETFS ON MUNICIPAL SECURITIES MARKET: AN UPDATED ANALYSIS-MAJOR TRENDS IN THE MUNICIPAL SECURITIES PRIMARY MARKET-TRENDS IN MUNICIPAL SECURITIES TRADING: BROKER'S BROKERS VS. ALTERNATIVE TRADING SYSTEMS-PERFORMANCE OF MUNICIPAL BOND EXCHANGE-TRADED FUNDS DURING APRIL 2025-A COMPARISON OF TRANSACTION COSTS FOR MUNICIPAL SECURITIES AND OTHER FIXED INCOME SECURITIES-CONVERGENCE OF INDIVIDUAL AND INSTITUTIONAL TRADING DYNAMICS IN SMALL SIZE TRADES-WHAT DRIVES TRADING VOLUME IN THE MUNICIPAL SECURITIES MARKET? A STUDY OF LIKELY FACTORSMSRB ALSO PUBLISHES QUARTERLY AND ANNUAL MUNICIPAL SECURITIES MARKET SUMMARIES HIGHLIGHTING KEY DEVELOPMENTS IN YIELDS, TRADING VOLUME, NEW ISSUANCE, AND MUTUAL FUNDFLOWS, AS WELL AS MONTHLY DATA AND AN ANNUAL MSRB FACT BOOK. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | FINANCIAL STEWARDSHIP:AS A SELF REGULATORY ORGANIZATION, MSRB RELIES ON FEES PAID BY REGULATED ENTITIES TO FUND ITS OPERATIONS AS OPPOSED TO APPROPRIATIONS FROM THE FEDERAL GOVERNMENT. MSRB IS COMMITTED TO PRUDENT STEWARDSHIP OF THE RESOURCES IT RECEIVES FROM REGULATED ENTITIES.IN FY 2025, MSRB ADOPTED A NEW MULTI-YEAR RATE CARD. THE MULTI-YEAR RATE CARD SETS RATES FOR CALENDAR YEARS 2026 THROUGH 2029, OFFERING REGULATED FIRMS GREATER FEE PREDICTABILITY. AS PART OF THIS CHANGE, MSRB WILL RETURN TO THE INDUSTRY MORE THAN $23 MILLION IN SURPLUS RESERVES-GENERATED BY EXTRAORDINARY MARKET ACTIVITY OVER THE PAST TWO YEARS-VIA TEMPORARY FEES CREDITS ON DEALER MARKET ACTIVITY FEES THROUGH 2027. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (1) | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 72 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 147 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 15 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 15 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | DC | StatesWhereCopyOfReturnIsFldCd |
| Own Website | Yes (X) | OwnWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | YETUNDE OLUMIDE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2028381500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1300 I STREET NW SUITE 1000 | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20005 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (36 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| JENNIE HUANG BENNETT | ||||||||||
| DIRECTOR, BOARD VICE CHAIR | 6.00 | 0.00 | Yes (X) | Yes (X) | $78,750 | $0 | $0 | |||
| WARREN DANIELS | ||||||||||
| DIRECTOR, BOARD CHAIR | 6.00 | 0.00 | Yes (X) | Yes (X) | $82,500 | $0 | $0 | |||
| KATANO KASAINE | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $75,000 | $0 | $0 | ||||
| HORATIO L PORTER | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $75,000 | $0 | $0 | ||||
| DAVID F BELTON | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $65,000 | $0 | $0 | ||||
| NATASHA A HOLIDAY | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $67,500 | $0 | $0 | ||||
| ELIZABETH SWEENEY | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $65,000 | $0 | $0 | ||||
| ALEXANDER CHILTON | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $65,000 | $0 | $0 | ||||
| MICHAEL CRAFT | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $65,000 | $0 | $0 | ||||
| PAMELA FREDERICK | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $65,000 | $0 | $0 | ||||
| WENDELL GAERTNER | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $65,000 | $0 | $0 | ||||
| CHRIS KENDALL | ||||||||||
| DIRECTOR | 6.00 | 0.00 | Yes (X) | $65,000 | $0 | $0 | ||||
| AHMED ABONAMAH | ||||||||||
| DIRECTOR (AS OF 10/2024) | 6.00 | 0.00 | Yes (X) | $16,250 | $0 | $0 | ||||
| DAN WILES | ||||||||||
| DIRECTOR (AS OF 10/2024) | 6.00 | 0.00 | Yes (X) | $16,250 | $0 | $0 | ||||
| HEATHER GRZANKA | ||||||||||
| DIRECTOR (AS OF 10/2024) | 6.00 | 0.00 | Yes (X) | $16,250 | $0 | $0 | ||||
| MARK T KIM | ||||||||||
| PRESIDENT AND CEO | 40.00 | 0.00 | Yes (X) | $822,742 | $0 | $70,193 | ||||
| OMER AHMED | ||||||||||
| CHIEF FINANCIAL OFFICER | 40.00 | 0.00 | Yes (X) | $304,079 | $0 | $65,828 | ||||
| RONALD SMITH | ||||||||||
| CORPORATE SECRETARY | 40.00 | 0.00 | Yes (X) | $274,136 | $0 | $38,189 | ||||
| JOHN A BAGLEY | ||||||||||
| CHIEF MARKET STRUCTURE OFFICER | 40.00 | 0.00 | $559,653 | $0 | $71,274 | Yes (X) | ||||
| JACOB LESSER | ||||||||||
| GENERAL COUNSEL | 40.00 | 0.00 | $538,814 | $0 | $29,366 | Yes (X) | ||||
| BRIAN ANTHONY | ||||||||||
| CHIEF PRODUCT OFFICER | 40.00 | 0.00 | $479,809 | $0 | $58,557 | Yes (X) | ||||
| JOHN TOYE | ||||||||||
| CHIEF INFORMATION OFFICER | 40.00 | 0.00 | $400,662 | $0 | $59,227 | Yes (X) | ||||
| TANGIE DAVIS | ||||||||||
| CHIEF OF STAFF | 40.00 | 0.00 | $387,002 | $0 | $47,296 | Yes (X) | ||||
| IJEOMA LASEBIKAN | ||||||||||
| DIRECTOR, HUMAN RESOURCES | 40.00 | 0.00 | $196,094 | $0 | $53,320 | Yes (X) | ||||
| ERNESTO LANZA | ||||||||||
| CHIEF REGULATORY & POLICY OFFICER | 40.00 | 0.00 | $506,335 | $0 | $67,092 | Yes (X) | ||||
| ALEIS STOKES AS OF 012024 | ||||||||||
| CHIEF EXTERNAL RELATIONS OFFICER | 40.00 | 0.00 | $310,354 | $0 | $61,517 | Yes (X) | ||||
| SIMON WU | ||||||||||
| CHIEF ECONOMIST | 40.00 | 0.00 | $348,172 | $0 | $46,729 | Yes (X) | ||||
| SALLY KLEMPERER | ||||||||||
| SENIOR ASSOCIATE GENERAL COUNSEL | 40.00 | 0.00 | $334,439 | $0 | $45,316 | Yes (X) | ||||
| MARCELO VIEIRA | ||||||||||
| SENIOR DIR, RESEARCH & MRKT TRANSP. | 40.00 | 0.00 | $312,918 | $0 | $32,793 | Yes (X) | ||||
| SHAMBREIA JOINER | ||||||||||
| SR. DIRECTOR, REGULATORY COMPL. | 40.00 | 0.00 | $286,873 | $0 | $42,980 | Yes (X) | ||||
| FRANK MAZZARELLI | ||||||||||
| DIRECTOR, MARKET REGULATION | 40.00 | 0.00 | $289,075 | $0 | $57,538 | Yes (X) | ||||
| MEREDITH L HATHORN | ||||||||||
| FORMER DIRECTOR, BOARD CHAIR | 0.00 | 0.00 | $78,750 | $0 | $0 | Yes (X) | ||||
| ANGELIA SCHMIDT | ||||||||||
| FORMER DIRECTOR, BOARD VICE CHAIR | 0.00 | 0.00 | $60,000 | $0 | $0 | Yes (X) | ||||
| THALIA MEEHAN | ||||||||||
| FORMER DIRECTOR | 0.00 | 0.00 | $48,750 | $0 | $0 | Yes (X) | ||||
| SARA MAJROH | ||||||||||
| FMR. OFF./SR. MGR., CORP. GOVERNANCE | 40.00 | 0.00 | $209,391 | $0 | $30,542 | Yes (X) | ||||
| JESSICA FAUCETTE | ||||||||||
| FMR. OFF/SR. GOVT. & PUBLIC AFF. | 40.00 | 0.00 | $116,891 | $0 | $27,874 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $7,747,439 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $905,631 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 102 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| AMAZON WEB SERVICES INC | |||||
| 410 TERRY AVENUE NORTH | SEATTLE | WA | 98109 | CLOUD SERVICE PROVIDER | $4,770,194 |
| CC PACE SYSTEMS INC | |||||
| 4100 MONUMENT CORNER DRIVE 400 | FAIRFAX | VA | 22030 | SOFTWARE DEVELOPMENT | $1,590,629 |
| ACCENTURE FEDERAL SERVICES | |||||
| 800 N GLEBE RD 300 | ARLINGTON | VA | 22203 | SOFTWARE DEVELOPMENT | $551,898 |
| CDW DIRECT LLC | |||||
| 40 E RIO SALADO PKWY | CHICAGO | IL | 60675 | SOFTWARE DEVELOPMENT | $542,671 |
| ICE DATA PRICING AND REFERENCE DATA LLC | |||||
| 1521 CONCORD PIKE 201 | WILMINGTON | DE | 19803 | SOFTWARE DEVELOPMENT | $502,068 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 19 | CntrctRcvdGreaterThan100KCnt |
| Membership Dues | $58,893,518 | MembershipDuesAmt |
| Total Contributions | $58,893,518 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| DATA SUBSCRIPTIONS | 900099 | $2,604,659 | $2,604,659 |
| RULE VIOLATION FNE REV | 900099 | $676,500 | $676,500 |
| PRO. QUAL. EXAM FEES | 900099 | $282,420 | $282,420 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $3,563,579 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,683,914 | TotalRevenueColumnAmt |
| Exclusion | $1,683,914 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $15,389 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $129,246 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $15,389 | SecuritiesAmt |
| Other | -$129,246 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$113,857 | TotalRevenueColumnAmt |
| Exclusion | -$113,857 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $80,520 | TotalRevenueColumnAmt |
| Exclusion | $80,520 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $80,520 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $64,107,674 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $3,563,579 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,650,577 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,633,146 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $400,218 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,653,534 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,323,504 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,483,382 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,413,440 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $600,533 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $516,890 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,513 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,532,855 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $490,701 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,288,826 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,264,459 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $403,660 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $273,045 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $74 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,023,524 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $352,185 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| ELECTRONIC INFORMATION | $1,361,234 |
| DUES, REGIS., TRAIN. | $149,641 |
| SUBSCRIPTION & PUBLI. | $120,577 |
| TEMP CLERICAL ASSIST | $14,370 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $315,370 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,653,681 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,107,904 | BOYAmt |
| EOY | $1,460,118 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,428,429 | BOYAmt |
| EOY | $12,144,179 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,656,105 | BOYAmt |
| EOY | $8,939,029 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,276,125 | BOYAmt |
| EOY | $2,264,219 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $64,216,564 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $45,702,171 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,214,981 | BOYAmt |
| EOY | $18,514,393 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,907,646 | BOYAmt |
| EOY | $48,412,903 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,473,953 | BOYAmt |
| EOY | $5,758,825 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,065,143 | BOYAmt |
| EOY | $97,493,666 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,907,638 | BOYAmt |
| EOY | $5,679,260 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $336,070 | BOYAmt |
| EOY | $390,385 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,811,822 | BOYAmt |
| EOY | $9,564,370 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,055,530 | BOYAmt |
| EOY | $15,634,015 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,009,613 | BOYAmt |
| EOY | $81,859,651 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $67,009,613 | BOYAmt |
| EOY | $81,859,651 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,065,143 | BOYAmt |
| EOY | $97,493,666 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $14,453,993 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $396,045 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
Total Grassroots Lobbying TotalGrassrootsLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Affiliated Group Total | $0 | AffiliatedGroupTotalAmt |
Total Direct Lobbying TotalDirectLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Affiliated Group Total | $0 | AffiliatedGroupTotalAmt |
Other Exempt Purpose Expend OtherExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Affiliated Group Total | $0 | AffiliatedGroupTotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nonded | 0 | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | 0 | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | 0 | AgreeCarryoverPriorYearInd |
| Dues Assessments | $58,893,518 | DuesAssessmentsAmt |
| Non Deductible Lbbyng Pltcl CY | $38,513 | NonDeductibleLbbyngPltclCYAmt |
| Non Deductible Lbbyng Pltcl Tot | $38,513 | NonDeductibleLbbyngPltclTotAmt |
| Taxable | $38,513 | TaxableAmt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,455,824 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,869,707 | DepreciationAmt |
| Book Value | $1,586,117 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,604,994 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,411,511 | DepreciationAmt |
| Book Value | $193,483 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $58,155,746 | OtherCostOrOtherBasisAmt |
| Depreciation | $41,420,953 | DepreciationAmt |
| Book Value | $16,734,793 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $18,514,393 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OPERATING LEASE ROU ASSET | Desc |
| Book Value | $5,758,825 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $5,758,825 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| CAPITAL LEASE LIABILITY | $97 |
| OPERATING LEASE LIABILITY | $9,564,273 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $9,564,370 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $64,619,125 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $396,045 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $396,045 | RevenueNotReportedAmt |
| Revenue Subtotal | $64,223,080 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $13,839 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | -$129,245 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$115,406 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $64,107,674 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $49,769,087 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $129,245 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $129,245 | ExpensesNotReportedAmt |
| Expenses Subtotal | $49,639,842 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $13,839 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $13,839 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $49,653,681 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | FIN 48 (ASC 740) MSRB FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. MSRB IS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(6), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. MSRB HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. MSRB HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | LOSS FROM SALE OF ASSETS -129,245. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | LOSS FROM SALE OF ASSETS 129,245. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (21 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MARK T KIM | ||||||||||||||
| PRESIDENT AND CEO | $657,157 | $0 | $165,375 | $0 | $210 | $0 | $29,269 | $0 | $40,924 | $0 | $892,935 | $0 | $0 | $0 |
| JOHN A BAGLEY | ||||||||||||||
| CHIEF MARKET STRUCTURE OFFICER | $464,603 | $0 | $95,000 | $0 | $50 | $0 | $31,050 | $0 | $40,224 | $0 | $630,927 | $0 | $0 | $0 |
| ERNESTO LANZA | ||||||||||||||
| CHIEF REGULATORY & POLICY OFFICER | $420,230 | $0 | $86,000 | $0 | $105 | $0 | $31,050 | $0 | $36,042 | $0 | $573,427 | $0 | $0 | $0 |
| JACOB LESSER | ||||||||||||||
| GENERAL COUNSEL | $432,514 | $0 | $106,300 | $0 | $0 | $0 | $26,456 | $0 | $2,910 | $0 | $568,180 | $0 | $0 | $0 |
| BRIAN ANTHONY | ||||||||||||||
| CHIEF PRODUCT OFFICER | $399,659 | $0 | $80,000 | $0 | $150 | $0 | $25,600 | $0 | $32,957 | $0 | $538,366 | $0 | $0 | $0 |
| JOHN TOYE | ||||||||||||||
| CHIEF INFORMATION OFFICER | $319,212 | $0 | $81,300 | $0 | $150 | $0 | $31,050 | $0 | $28,177 | $0 | $459,889 | $0 | $0 | $0 |
| TANGIE DAVIS | ||||||||||||||
| CHIEF OF STAFF | $330,467 | $0 | $56,300 | $0 | $235 | $0 | $31,050 | $0 | $16,246 | $0 | $434,298 | $0 | $0 | $0 |
| SIMON WU | ||||||||||||||
| CHIEF ECONOMIST | $309,272 | $0 | $38,700 | $0 | $200 | $0 | $31,050 | $0 | $15,679 | $0 | $394,901 | $0 | $0 | $0 |
| SALLY KLEMPERER | ||||||||||||||
| SENIOR ASSOCIATE GENERAL COUNSEL | $297,194 | $0 | $36,900 | $0 | $345 | $0 | $30,129 | $0 | $15,187 | $0 | $379,755 | $0 | $0 | $0 |
| ALEIS STOKES AS OF 012024 | ||||||||||||||
| CHIEF EXTERNAL RELATIONS OFFICER | $255,354 | $0 | $55,000 | $0 | $0 | $0 | $22,831 | $0 | $38,686 | $0 | $371,871 | $0 | $0 | $0 |
| OMER AHMED | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $289,079 | $0 | $15,000 | $0 | $0 | $0 | $28,350 | $0 | $37,478 | $0 | $369,907 | $0 | $0 | $0 |
| FRANK MAZZARELLI | ||||||||||||||
| DIRECTOR, MARKET REGULATION | $261,925 | $0 | $27,000 | $0 | $150 | $0 | $20,928 | $0 | $36,610 | $0 | $346,613 | $0 | $0 | $0 |
| MARCELO VIEIRA | ||||||||||||||
| SENIOR DIR, RESEARCH & MRKT TRANSP. | $278,318 | $0 | $34,400 | $0 | $200 | $0 | $28,078 | $0 | $4,715 | $0 | $345,711 | $0 | $0 | $0 |
| SHAMBREIA JOINER | ||||||||||||||
| SR. DIRECTOR, REGULATORY COMPL. | $260,973 | $0 | $25,900 | $0 | $0 | $0 | $26,259 | $0 | $16,721 | $0 | $329,853 | $0 | $0 | $0 |
| RONALD SMITH | ||||||||||||||
| CORPORATE SECRETARY | $243,986 | $0 | $30,100 | $0 | $50 | $0 | $24,567 | $0 | $13,622 | $0 | $312,325 | $0 | $0 | $0 |
| IJEOMA LASEBIKAN | ||||||||||||||
| DIRECTOR, HUMAN RESOURCES | $169,744 | $0 | $26,300 | $0 | $50 | $0 | $18,584 | $0 | $34,736 | $0 | $249,414 | $0 | $0 | $0 |
| SARA MAJROH | ||||||||||||||
| FMR. OFF./SR. MGR., CORP. GOVERNANCE | $192,891 | $0 | $16,400 | $0 | $100 | $0 | $18,955 | $0 | $11,587 | $0 | $239,933 | $0 | $0 | $0 |
| JESSICA FAUCETTE | ||||||||||||||
| FMR. OFF/SR. GOVT. & PUBLIC AFF. | $109,276 | $0 | $7,300 | $0 | $315 | $0 | $10,832 | $0 | $17,042 | $0 | $144,765 | $0 | $0 | $0 |
| MEREDITH L HATHORN | ||||||||||||||
| FORMER DIRECTOR, BOARD CHAIR | $78,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $78,750 | $0 | $0 | $0 |
| ANGELIA SCHMIDT | ||||||||||||||
| FORMER DIRECTOR, BOARD VICE CHAIR | $60,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $60,000 | $0 | $0 | $0 |
| THALIA MEEHAN | ||||||||||||||
| FORMER DIRECTOR | $48,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $48,750 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | ADDITIONAL BENEFITS PROVIDED: THE MSRB REIMBURSES BOARD MEMBERS, THE CHIEF EXECUTIVE OFFICER, AND ALL OTHER EMPLOYEES 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 FOR THE USE OF BUSINESS CLASS WHEN AVAILABLE, OR IF ONLY TWO CLASSES OF SERVICE ARE OFFERED, FIRST CLASS. THE MSRB HAS DETERMINED THIS MEETS THE BUSINESS REQUIREMENT STANDARD FOR NOT TREATING THE BENEFIT AS COMPENSATORY ON THE FORM W-2 OR 1099. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 7B | DECISIONS REQUIRING APPROVAL BY MEMBERS OR STOCKHOLDERS: ALL PROPOSED RULE CHANGES ADOPTED BY THE BOARD OF DIRECTORS OF THE MSRB MUST BE APPROVED BY THE SECURITIES AND EXCHANGE COMMISSION PRIOR TO EFFECTIVENESS, UNLESS OTHERWISE ALLOWED BY LAW. |
| FORM 990, PART VI, SECTION B, LINE 11B | REVIEW OF FORM 990 PROCESS: THE BOARD OF DIRECTORS OF THE MSRB HAS AN AUDIT AND RISK COMMITTEE THAT IS CHARGED WITH REVIEWING 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 COMMITTEE'S REVIEW OF SUCH FORM. THE AUDIT AND RISK COMMITTEE CONDUCTED ITS REVIEW ON 04/20/2026 AND THE BOARD OF DIRECTORS CONDUCTED ITS REVIEW ON 07/22/2026. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE MSRB MAINTAINS CONFLICTS OF INTEREST, CODE OF CONDUCT, AND WHISTLEBLOWER POLICIES FOR ITS BOARD AND STAFF. ALL BOARD MEMBERS AND STAFF ARE TRAINED ANNUALLY ON THESE POLICIES AND MUST SIGN VARIOUS ACKNOWLEDGMENTS. THE MSRB REQUIRES OFFICERS, DIRECTORS AND KEY EMPLOYEES TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS, AND SUBSEQUENTLY DISCLOSE UPDATES. 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 POTENTIAL 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 FIVE 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 DIRECTOR'S 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 | PROCESS OF DETERMINING COMPENSATION: UNDER THE MSRB WRITTEN COMPENSATION STRATEGY, 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 IS REVIEWED BY THE FINANCE COMMITTEE. SUCH REVIEW WAS COMPLETED AND CHANGES WERE APPROVED BY THE BOARD IN 2024 WITH THE NEXT REVIEW WITHIN AT LEAST EVERY FOUR YEARS BY 2028. THE STEERING COMMITTEE (COMPRISED OF MEMBERS OF THE BOARD OF DIRECTORS) IS RESPONSIBLE FOR CONDUCTING AN ANNUAL REVIEW OF THE PERFORMANCE AND COMPENSATION OF THE CEO. TO DO SO, THE STEERING COMMITTEE OBTAINS FROM AN EXECUTIVE COMPENSATION CONSULTANT ANNUALLY A CEO COMPENSATION TRENDS REPORT FOR PEER GROUP ORGANIZATIONS OF THE MSRB. AT LEAST EVERY THREE YEARS, IN LIEU OF THE COMPENSATION TRENDS REPORT, THE STEERING COMMITTEE ENGAGES AN EXECUTIVE COMPENSATION CONSULTANT TO CONDUCT A MARKET ANALYSIS OF THE CEO'S COMPENSATION. THE FULL BOARD APPROVES THE COMPENSATION OF THE CEO, AND THE CEO ESTABLISHES THE COMPENSATION OF THE KEY EMPLOYEES WITHIN THE PARAMETERS AND PHILOSOPHY OF THE APPROVED COMPENSATION STRATEGY. ADDITIONALLY, THE CEO ANNUALLY PROVIDES TO THE BOARD THE SALARY, BENEFITS, AND TOTAL COMPENSATION OF THE SENIOR MANAGEMENT. |
| FORM 990, PART VI, SECTION C, LINE 19 | DOCUMENTS AVAILABLE TO THE PUBLIC: THE ORGANIZATION'S WEBSITE (WWW.MSRB.ORG) CONTAINS THE FOLLOWING: SECURITIES EXCHANGE ACT OF 1934 SECTION 15B (STATUTE CREATING THE MSRB), ARTICLES OF INCORPORATION, BY-LAWS, GOVERNANCE-RELATED ADMINISTRATIVE RULES, BOARD COMMITTEE CHARTERS, CODE OF ETHICS AND BUSINESS CONDUCT, CONFLICTS OF INTEREST POLICY, RISK MANAGEMENT PROGRAM, WHISTLEBLOWER AND NON-RETALIATION POLICY AND REPORT HANDLING PROCEDURES, AUDITED FINANCIAL STATEMENTS, ANNUAL BUDGET, MOST RECENT IRS FORM 990 AND CERTAIN FINANCIAL POLICIES. |
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