Financial Services Institute Inc
- Assets
- $15.3m
- Revenue
- $9.5m
- Investments
- $0.0
- Employees
- 21
- Location
- Washington, DC
- Founding
- 04/2004
- Data as of
- 12/2021
- EIN
- 20-0587793
Organization Overview
Financial Services Institute Inc is located in Washington, DC. The organization was established in 2004. 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, Financial Services Institute Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Services Institute Inc 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, Financial Services Institute Inc generated $9.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $9.2m during the year ending 12/2021. 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
TO CREATE A HEALTHIER REGULATORY ENVIRONMENT FOR INDEPENDENT BROKER-DEALERS AND THEIR AFFILIATED INDEPENDENT FINANCIAL ADVISORS THROUGH AGGRESSIVE AND EFFECTIVE ADVOCACY, EDUCATION AND PUBLIC AWARENESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SUPPORT TO INDEPENDENT FINANCIAL ADVISORS AND FINANCIAL SERVICES FIRMS THROUGH CONSTRUCTIVE ADVOCACY WITH FEDERAL AND STATE REGULATORS AND LEGISLATORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dale Brown President & CEO | OfficerTrustee | 40 | $780,947 |
David Bellaire Exec VP & General Counsel | Officer | 40 | $552,750 |
Brett Mcallister Svp, Finance, Operations | Officer | 40 | $542,088 |
Robin Traxler Svp, Policy And Dep Gen Counsel | Officer | 40 | $469,031 |
Christopher Paulitz Head, Strat. Initiatives | Officer | 40 | $397,372 |
Michelle Allgauer Svp, Education And Engagement | Officer | 40 | $369,752 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eversheds Sutherland Llp Legal Services | 12/30/21 | $217,946 |
Haventower Group Llc Consulting | 12/30/21 | $126,704 |
Thorn Run Partners Llc Public Relations | 12/30/21 | $180,000 |
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 | $9,481,348 |
| Investment income | $31,362 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,484,774 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $4,272,173 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $695,999 |
| Pension plan accruals and contributions | $316,313 |
| Other employee benefits | $319,067 |
| Payroll taxes | $252,992 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $95,178 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $277,270 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $134,272 |
| Advertising and promotion | $0 |
| Office expenses | $152,095 |
| Information technology | $175,110 |
| Royalties | $0 |
| Occupancy | $719,324 |
| Travel | $26,147 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $455,896 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,644 |
| Insurance | $17,809 |
| All other expenses | $185,394 |
| Total functional expenses | $9,207,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,213,006 |
| Savings and temporary cash investments | $6,540,197 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $288,127 |
| Net Land, buildings, and equipment | $254,019 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,012,380 |
| Total assets | $15,307,729 |
| Accounts payable and accrued expenses | $659,060 |
| Grants payable | $0 |
| Deferred revenue | $2,255,615 |
| 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 | $7,163,205 |
| Total liabilities | $10,077,880 |
| Net assets without donor restrictions | $5,229,849 |
| 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 | $15,307,729 |
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