Securities Investor Protection Corporation
- Assets
- $4.7b
- Revenue
- $511.4m
- Investments
- $0.0
- Employees
- 45
- Location
- Washington, DC
- Founding
- 06/1971
- Data as of
- 12/2023
- EIN
- 52-0910763
Organization Overview
Securities Investor Protection Corporation is located in Washington, DC. The organization was established in 1971. 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 12/2023, Securities Investor Protection Corporation employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Securities Investor Protection Corporation 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 12/2023, Securities Investor Protection Corporation generated $511.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $19.7m during the year ending 12/2023. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SIPC INITIATED NO NEW CUSTOMER PROTECTION PROCEEDINGS IN 2023. TOTAL PROCEEDINGS COMMENCED UNDER SIPC TO DATE ARE 330. IN 2023, 1 PROCEEDING IS BEING PROCESSED. CASH AND SECURITIES DISTRIBUTED FOR ACCOUNTS OF CUSTOMERS DURING 2023 TOTALED APPROXIMATELY $348 MILLION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Claudia Slacik Chair Of Board | Trustee | 5 | $28,000 |
William S Jasien Director | Trustee | 1 | $12,833 |
Glen S Fukushima Vice Chair Of Board | Trustee | 2 | $12,000 |
William Brodsky Director | Trustee | 3 | $12,000 |
Alan J Patricof Director | Trustee | 2 | $9,293 |
Daniel M Covitz Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Peraton It Consulting | 12/30/23 | $2,079,259 |
Infernored Technology Inc It Consulting | 12/30/23 | $513,521 |
Grant Thornton Llp Accounting Services | 12/30/23 | $292,383 |
Buck Global Llc Actuary Services | 12/30/23 | $181,245 |
Justin Bradley Temp Svcs/ Recruiting | 12/30/23 | $125,448 |
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 | $511,388,716 |
| Investment income | $0 |
| 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 | $511,388,716 |
| 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. | $3,404,254 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,010,820 |
| Pension plan accruals and contributions | $1,626,109 |
| Other employee benefits | $1,737,449 |
| Payroll taxes | $508,473 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $206,452 |
| Fees for services: Accounting | $267,383 |
| Fees for services: Lobbying | $13,720 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $734,061 |
| Advertising and promotion | $98,011 |
| Office expenses | $604,906 |
| Information technology | $4,740,786 |
| Royalties | $0 |
| Occupancy | $967,914 |
| Travel | $86,990 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $59,011 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $259,469 |
| Insurance | $199,551 |
| All other expenses | $0 |
| Total functional expenses | $19,739,606 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,091,996 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $193,923,264 |
| 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 | $10,058,989 |
| Net Land, buildings, and equipment | $444,732 |
| Investments—publicly traded securities | $4,469,260,743 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,675,779,724 |
| Accounts payable and accrued expenses | $14,240,125 |
| Grants payable | $0 |
| Deferred revenue | $1,146,575 |
| 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 | $532,100,000 |
| Total liabilities | $547,486,700 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $4,128,293,024 |
| 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 | $4,675,779,724 |