National Futures Association
- Assets
- $213.8m
- Revenue
- $139.8m
- Investments
- $0.0
- Employees
- 641
- Location
- Chicago, IL
- Founding
- 10/1978
- Data as of
- 06/2023
- EIN
- 36-2960981
Organization Overview
National Futures Association, operating under the name Nfa, is located in Chicago, IL. The organization was established in 1978. 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 06/2023, Nfa employed 641 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nfa 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 06/2023, Nfa generated $139.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $130.0m during the year ending 06/2023. While expenses have increased by 5.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
NFA IS A SELF-REGULATORY MEMBERSHIP ORGANIZATION FORMED TO MONITOR (CONTINUED IN SCHEDULE O) (CONTINUANCE OF PART I, LINE 1)AND MAINTAIN THE INTEGRITY OF THE DERIVATIVES TRADING INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGISTRATIONNFA SCREENS ALL FIRMS AND INDIVIDUALS WISHING TO REGISTER WITH THE CFTC AND BECOME NFA MEMBERS. NFA'S REGISTRATION DEPARTMENT PROCESSED 293 FIRM REGISTRATIONS AND OVER 4,000 INDIVIDUAL REGISTRATIONS.REGISTRATION INVESTIGATION CASES NFA'S REGISTRATION INVESTIGATIONS GROUP OPENED APPROXIMATELY 1,100 CASES. THESE INVESTIGATION CASES ARE DUE TO INFORMATION OBTAINED DURING NFA'S BACKGROUND CHECKS.(CONTINUED IN SCHEDULE O)(CONTINUANCE OF PART III, LINE 4A)INFORMATION CENTER NFA'S INFORMATION CENTER - A SERVICE NFA OFFERS TO MEMBERS AND THE INVESTING PUBLIC - RECEIVED 17,400 CALLS AND RESPONDED TO 4,100 EMAILS.ENFORCEMENT ACTIONS ENFORCEMENT OF NFA RULES IS CRITICAL TO THE EFFECTIVENESS OF THE SELF-REGULATORY PROCESS. IN FISCAL YEAR 2023: NFA'S BUSINESS CONDUCT COMMITTEE ISSUED 13 COMPLAINTS AGAINST 26 RESPONDENTS. A NUMBER OF THESE CASES INVOLVED MEMBERS AND ASSOCIATES WHO FAILED TO SUPERVISE, COOPERATE WITH NFA IN AN INVESTIGATION OR OBSERVE HIGH STANDARDS OF COMMERCIAL HONOR AND JUST AND EQUITABLE PRINCIPLES OF TRADE OR COMPLY WITH RECORDKEEPING REQUIREMENTS.NFA'S DISCIPLINARY PANELS ISSUED 14 DECISIONS AND ORDERED 3 MEMBERSHIP BARS, 2 MEMBERSHIP SUSPENSIONS, AND NFA IMPOSED OVER $3 MILLION IN REGULATORY FINES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Sexton President And CEO | Officer | 40 | $1,025,723 |
Regina Thoele Senior Vice President | Officer | 40 | $685,091 |
Carol Wooding Sr.vp, Gc, And Secretary | Officer | 40 | $674,192 |
Michael Otten Senior Vice President, Otc | Officer | 40 | $666,679 |
Timothy Mchenry Senior Vice President | Officer | 40 | $651,312 |
Edward Dasso Senior Vice President | Officer | 40 | $610,556 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cdw Direct Llc Computer Support | 6/29/23 | $1,295,869 |
3cloud Llc It Security | 6/29/23 | $988,831 |
Nasdaq Technology Ab Data Services | 6/29/23 | $785,500 |
Redlegg It Security | 6/29/23 | $519,800 |
Jenner & Block Llp Legal Services | 6/29/23 | $450,000 |
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 | $136,619,488 |
| Investment income | $3,206,895 |
| 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 | $139,826,383 |
| 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. | $8,582,926 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $66,418,488 |
| Pension plan accruals and contributions | $6,467,613 |
| Other employee benefits | $10,247,324 |
| Payroll taxes | $5,170,546 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,077,815 |
| Fees for services: Accounting | $129,561 |
| Fees for services: Lobbying | $25,387 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,300,733 |
| Advertising and promotion | $21,675 |
| Office expenses | $1,146,610 |
| Information technology | $9,470,912 |
| Royalties | $0 |
| Occupancy | $5,620,404 |
| Travel | $2,682,544 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $292,767 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,770,612 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $130,012,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,344,852 |
| Savings and temporary cash investments | $44,778,229 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,640,928 |
| 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 | $4,361,866 |
| Net Land, buildings, and equipment | $23,271,678 |
| Investments—publicly traded securities | $98,242,530 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,171,209 |
| Total assets | $213,811,292 |
| Accounts payable and accrued expenses | $11,301,775 |
| Grants payable | $0 |
| Deferred revenue | $10,402,742 |
| 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 | $35,432,884 |
| Total liabilities | $57,137,401 |
| Net assets without donor restrictions | $156,673,891 |
| 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 | $213,811,292 |