Finra Investor Education Foundation
- Assets
- $76.7m
- Revenue
- $2.0m
- Investments
- $11.8m
- Employees
- 0
- Location
- Rockville, MD
- Founding
- 09/2004
- Data as of
- 12/2021
- EIN
- 20-0863779
Organization Overview
Finra Investor Education Foundation is located in Rockville, MD. The organization was established in 2004. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Finra Investor Education Foundation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Finra Investor Education Foundation generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (37.9%) each year. All expenses for the organization totaled $3.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Finra Investor Education Foundation has awarded 149 individual grants totaling $6,593,140. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION IS TO EMPOWER UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS TO MAKE SOUND FINANCIAL DECISIONS THROUGHOUT LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOSTER SUSTAINABLE, INCLUSIVE FINANCIAL CAPABILITY IN COMMUNITIES OF NEED, AT THE WORKPLACE, AND IN THE MILITARY - SEE SCHEDULE O
UNDERTAKE AND SUPPORT RESEARCH TO IMPROVE CONSUMER FINANCIAL OUTCOMES AND ADDRESS SYSTEMIC SOCIO-ECONOMIC INEQUITIES - SEE SCHEDULE O
PROTECT CONSUMERS FROM FINANCIAL FRAUD AND AMELIORATE THE CONSEQUENCES OF FRAUD - SEE SCHEDULE O
COMMUNICATE RESEARCH FINDINGS AND INNOVATIONS THE FOUNDATION LEVERAGES ONLINE, SOCIAL MEDIA, PRINT, AND IN-PERSON DISTRIBUTION CHANNELS TO ADVANCE THE FINANCIAL INCLUSION AND CAPABILITY OF UNDERSERVED GROUPS AND TO PROVIDE DECISION-MAKERS WITH AN EMPIRICAL UNDERSTANDING OF FINANCIAL INCLUSION/EXCLUSION IN THE U.S. THIS ENCOMPASSES CONVENINGS TO EXPLORE ACADEMIC AND INDUSTRY RESEARCH ON DIVERSITY, EQUITY, AND INCLUSION IN THE CAPITAL MARKETS. THE FOUNDATION PUBLISHES NFCS DATA SETS, METHODOLOGICAL DOCUMENTS, AND FINDINGS IN USER-FRIENDLY FORMATS, PARTICIPATES IN AND DIRECTS RESEARCH AND OTHER PROFESSIONAL FORUMS, AND PROMOTES THE WORK OF BOTH SEASONED LEADERS AND YOUNG RESEARCHERS ACTIVE IN THE FIELD OF FINANCIAL CAPABILITY. IN FURTHERANCE OF THIS GOAL, THE FOUNDATION MAINTAINS ALLIANCES WITH FEDERAL AGENCIES, STATE GOVERNMENT, MUNICIPALITIES, AND LEADING NONPROFIT ORGANIZATIONS ACTIVE IN THE FIELD OF FINANCIAL CAPABILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sard Verbinnen & Co See Schedule O | 12/30/21 | $315,000 |
American Library Association See Schedule O | 12/30/21 | $291,945 |
National Opinion Research Center See Schedule O | 12/30/21 | $188,000 |
Aarp See Schedule O | 12/30/21 | $150,000 |
Association For Financial Counseling And Planning Education See Schedule O | 12/30/21 | $410,577 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $203,649 |
| 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 | $203,649 |
| Total Program Service Revenue | $0 |
| Investment income | $698,375 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,065,250 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,967,274 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $293,441 |
| Grants and other assistance to domestic individuals. | $14,882 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,946 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $98,411 |
| Fees for services: Other | $2,558,707 |
| Advertising and promotion | $5,850 |
| Office expenses | $9,189 |
| Information technology | $40,736 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,062 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,050 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,122,139 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $749,253 |
| Savings and temporary cash investments | $0 |
| 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 | $19,002 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $63,897,458 |
| Investments—other securities | $11,820,615 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $175,280 |
| Total assets | $76,661,608 |
| Accounts payable and accrued expenses | $379,522 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $721 |
| Total liabilities | $380,243 |
| Net assets without donor restrictions | $76,201,774 |
| Net assets with donor restrictions | $79,591 |
| 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 | $76,661,608 |
Grants Awarded
Over the last fiscal year, Finra Investor Education Foundation has awarded $224,119 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
Redwood City, CA PURPOSE: To study household financial resilience in the United States from the Great Recession to the onset of the COVID-19 pandemic (2008 to 2020) and to examine the factors affecting financial stability, especially among financially vulnerable groups. | $57,143 |
UNIVERSITY OF PUERTO RICO PURPOSE: To undertake research about the financial capability of Hispanics in the United States, both as a single cohort and disaggregated by heritage. | $43,486 |
Savannah, GA PURPOSE: To advance sustainable workplace financial wellness services and education for lower-income employees. | $20,000 |
Manchester, NH PURPOSE: To advance sustainable workplace financial wellness services and education for lower-income employees. | $20,000 |
UNITED WAY OF SUMMIT AND MEDINA COUNTY PURPOSE: To advance sustainable workplace financial wellness services and education for lower-income employees. | $20,000 |
Canton, OH PURPOSE: To advance sustainable workplace financial wellness services and education for lower-income employees. | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Finra Investor Education Foundation has recieved totaling $203,649.
| Awarding Organization | Amount |
|---|---|
Finra Regulation Inc Rockville, MD PURPOSE: GENERAL SUPPORT | $203,649 |
Endowment Analysis
| Beg. Balance | $84,568 |
| Earnings | $23 |
| Grants | $5,000 |
| Ending Balance | $79,591 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Usw District 10 Local 286 Welfare Trust Fund Philadelphia, PA | $8,668,111 | $17,307,586 |
Garrett County Maryland Community Action Committee Inc Oakland, MD | $23,823,939 | $14,024,119 |
Strong City Baltimore Baltimore, MD | $3,607,626 | $14,803,870 |
Visit Baltimore Inc Baltimore, MD | $13,591,522 | $23,022,151 |
Liberty Lutheran Housing Development Corporation State College, PA | $52,974,358 | $15,701,429 |
Mountainheart Community Servces Inc Oceana, WV | $5,735,709 | $13,660,570 |
Allegany County Human Resources Development Commission Inc Cumberland, MD | $11,830,782 | $13,688,639 |
Fusion Partnerships Inc Baltimore, MD | $7,468,833 | $16,079,107 |
University City District Philadelphia, PA | $9,386,670 | $9,712,200 |
Hemlock Farms Community Association Lords Valley, PA | $26,523,624 | $12,038,926 |
Coalfield Community Action Partnership Inc Williamson, WV | $5,496,204 | $10,777,426 |
Allegheny Conference On Community Development Pittsburgh, PA | $14,597,444 | $7,655,898 |