Finra Investor Education Foundation
- Assets
- $68.5m
- Revenue
- $9.8m
- Investments
- $12.2m
- Employees
- 0
- Location
- Rockville, MD
- Founding
- 09/2004
- Data as of
- 12/2022
- 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 12/2022, Finra Investor Education Foundation generated $9.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $4.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Finra Investor Education Foundation has awarded 169 individual grants totaling $7,040,002. 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
2022
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
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. 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.
UNDERTAKE AND SUPPORT RESEARCH TO IMPROVE CONSUMER FINANCIAL OUTCOMES - SEE SCHEDULE O
PROTECT CONSUMERS FROM FINANCIAL FRAUD AND AMELIORATE THE CONSEQUENCES OF FRAUD - SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Member | Trustee | 1 | $0 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Name Not Listed Board Member - As Of 4/12 | Trustee | 1 | $0 |
Name Not Listed Board Member - As Of 5/24 | Trustee | 1 | $0 |
Name Not Listed Chairman | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Association For Financial Counseling And Planning Education See Schedule O | 12/30/22 | $352,868 |
Girl Scouts Of The Usa See Schedule O | 12/30/22 | $350,000 |
Sard Verbinnen & Co Llc See Schedule O | 12/30/22 | $200,000 |
Cybercrime Support Network See Schedule O | 12/30/22 | $185,000 |
American Library Association See Schedule O | 12/30/22 | $175,614 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $5,860,131 |
| 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 | $5,860,131 |
| Total Program Service Revenue | $0 |
| Investment income | $974,509 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,013,254 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,847,894 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $547,000 |
| Grants and other assistance to domestic individuals. | $10,298 |
| 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 | $38,066 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $86,230 |
| Fees for services: Other | $3,176,287 |
| Advertising and promotion | $89,378 |
| Office expenses | $9,074 |
| Information technology | $29,714 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $88,058 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $117,091 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $4,801 |
| Total functional expenses | $4,246,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $832,312 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,840 |
| 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 | $24,761 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $55,316,022 |
| Investments—other securities | $12,229,105 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $81,995 |
| Total assets | $68,490,035 |
| Accounts payable and accrued expenses | $582,188 |
| 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 | $2,700 |
| Total liabilities | $584,888 |
| Net assets without donor restrictions | $67,829,636 |
| Net assets with donor restrictions | $75,511 |
| 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 | $68,490,035 |
Grants Awarded
Over the last fiscal year, Finra Investor Education Foundation has awarded $446,862 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
BUFFALO & ERIE COUNTY PUBLIC LIBRARY PURPOSE: To provide and coordinate basic financial education for lower-income families, immigrant and refugee populations, and recently incarcerated individuals who are reintegrating into society and the local economy. | $22,798 |
CATHOLIC CHARITIES DIOCESE OF FORT WORTH PURPOSE: To advance sustainable workplace financial wellness services and education for lower-income employees. | $20,000 |
BARRY COUNTY UNITED WAY PURPOSE: To advance sustainable workplace financial wellness services and education for lower-income employees. | $20,000 |
CATHOLIC CHARITIES OF NORTHEAST KANSAS PURPOSE: To advance sustainable workplace financial wellness services and education for lower-income employees. | $20,000 |
CLAYTON COLLABORATIVE AUTHORITY PURPOSE: To enable the Clayton County Library System to leverage interest in the region's well-established film industry to engage youth, adults, and entrepreneurs in a variety of activity-based financial education experiences, thereby integrating financial education and workforce development. | $25,000 |
KENOSHA PUBLIC LIBRARY PURPOSE: To expand financial education and financial coaching in low-income and underserved communities, focusing especially on topics such as banking, credit, budgeting, and managing debt. | $25,000 |