Futures Industry Association
- Assets
- $52.8m
- Revenue
- $48.0m
- Investments
- $0.0
- Employees
- 42
- Location
- Washington, DC
- Founding
- 11/1956
- Data as of
- 12/2021
- EIN
- 13-5642275
Organization Overview
Futures Industry Association is located in Washington, DC. The organization was established in 1956. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Futures Industry Association employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Futures Industry Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Futures Industry Association generated $48.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $29.2m during the year ending 12/2021. While expenses have increased by 1.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FUTURES INDUSTRY ASSOCIATION'S MISSION IS TO BE THE GLOBAL THOUGHT LEADER, ADVOCATE AND EDUCATOR FOR FUTURES AND SWAPS WHICH ARE CENTRALLY CLEARED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIA IS THE LEADING GLOBAL TRADE ASSOCIATION FOR THE FUTURES, OPTIONS AND CENTRALLY CLEARED DERIVATIVES MARKET. FIA'S MEMBERSHIP REPRESENTS CLEARING FIRMS, EXCHANGES, CLEARINGHOUSES, TRADING FIRMS, AND COMMODITY SPECIALISTS, AS WELL AS TECHNOLOGY VENDORS, LAW FIRMS AND OTHER PROFESSIONAL SERVICE PROVIDERS.
FIA WORKS ACTIVELY TO PRESERVE THE SYSTEM OF FREE AND COMPETITIVE MARKETS BY REPRESENTING THE INTERESTS OF THE INDUSTRY IN CONNECTION WITH BUSINESS, REGULATORY EXCHANGE, INTERNATIONAL AND LEGISLATIVE ISSUES THROUGH THE EXCHANGE OF IDEAS SUPPORTED BY OUR CONFERENCES AND EVENTS.
FIA'S DOCUMENTATION LIBRARY AND CCP RISK REVIEW SERVICES PROVIDE VALUABLE LEGAL OPINIONS, CLIENT TERMS OF BUSINESS DOCUMENTATION, AND SUMMARIES OF RULES AND PROCEDURES OF CCP'S WORLDWIDE. FIA WORKS CLOSELY WITH MEMBER FIRMS TO DEVELOP INDUSTRY-STANDARD AGREEMENTS THAT ALL MARKET PARTICIPANTS CAN USE TO SUPPORT THEIR TRADING AND CLEARING FUNCTIONS AS WELL AS ENSURE REGULATORY COMPLIANCE IN DIFFERENT JURISDICTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Walter Lukken President & CEO | OfficerTrustee | 37.5 | $1,755,969 |
Jacqueline Mesa COO & SVP Of Global Policy | Officer | 37.5 | $725,048 |
Allison Lurton Chief Legal Office & Gen Cncl | Officer | 37.5 | $632,224 |
Richard G Sheetz SVP & CFO | Officer | 37.5 | $493,182 |
Donald Byron Head Of Global Industry Oper. | 37.5 | $329,176 | |
William Acworth SVP Pubs, Data & Research | 37.5 | $293,568 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Milbank Llp Legal Consultancy | 12/30/21 | $1,059,403 |
Bryan Cave Leighton Paisner Llp Legal Consultancy | 12/30/21 | $1,027,852 |
Delta Strategy Group Lobbying | 12/30/21 | $181,829 |
Wpp Group Usa Inc Ogilvy Pr Lobbying | 12/30/21 | $152,500 |
Wipfli Llp It Consultancy | 12/30/21 | $169,327 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $24,250,472 |
| Investment income | $272,644 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $20,489,135 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $47,984,202 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $86,784 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $7,558,037 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,403,775 |
| Pension plan accruals and contributions | $114,771 |
| Other employee benefits | $224,091 |
| Payroll taxes | $515,120 |
| Fees for services: Management | $875,003 |
| Fees for services: Legal | $2,011,409 |
| Fees for services: Accounting | $70,175 |
| Fees for services: Lobbying | $898,817 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,667 |
| Fees for services: Other | $2,709,698 |
| Advertising and promotion | $5,243 |
| Office expenses | $155,863 |
| Information technology | $526,202 |
| Royalties | $0 |
| Occupancy | $1,251,744 |
| Travel | $130,081 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,772,019 |
| Interest | $0 |
| Payments to affiliates | $5,866,239 |
| Depreciation, depletion, and amortization | $1,286,488 |
| Insurance | $87,321 |
| All other expenses | $71,422 |
| Total functional expenses | $29,155,993 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,874,067 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,041,943 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,139,328 |
| Net Land, buildings, and equipment | $4,791,781 |
| Investments—publicly traded securities | $20,267,937 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,690,671 |
| Total assets | $52,805,727 |
| Accounts payable and accrued expenses | $5,229,932 |
| Grants payable | $0 |
| Deferred revenue | $7,394,755 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,756,708 |
| Total liabilities | $27,381,395 |
| Net assets without donor restrictions | $25,424,332 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $52,805,727 |
Grants Awarded
Over the last fiscal year, Futures Industry Association has awarded $56,140 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Chicago, IL PURPOSE: General support | $31,140 |
Minneapolis, MN PURPOSE: General support | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Bankers Association Washington, DC | $263,742,289 | $140,712,476 |
National Restaurant Association Washington, DC | $192,667,812 | $96,146,955 |
American Association Of State Highway & Transportation Officials Washington, DC | $177,160,624 | $97,013,353 |
American Beverage Association Washington, DC | $114,967,236 | $101,585,081 |
Credit Union National Association Inc Washington, DC | $67,388,582 | $69,543,852 |
Edison Electric Institute Washington, DC | $198,917,565 | $81,084,181 |
Investment Company Institute Washington, DC | $76,230,571 | $72,478,404 |
Packaging Machinery Manufacturers Institute Inc Herndon, VA | $71,869,344 | $62,733,082 |
Consumer Technology Association Arlington, VA | $357,760,838 | $25,474,279 |
National Retail Federation Inc Washington, DC | $44,909,805 | $48,694,616 |
American Psychiatric Association Washington, DC | $179,554,491 | $53,525,834 |
Mexican Haas Avocado Importers Association Fallston, MD | $10,238,623 | $43,648,629 |