Securities Investor Protection Corporation
- Assets
- $4.4b
- Revenue
- $521.0m
- Investments
- $0.0
- Employees
- 41
- Location
- Washington, DC
- Founding
- 06/1971
- Data as of
- 12/2021
- 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 12/2021, Securities Investor Protection Corporation employed 41 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 12/2021, Securities Investor Protection Corporation generated $521.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $260.0m 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
SEE SCHEDULE OPROTECTION OF CUSTOMERS OF SIPC MEMBERS PURSUANT TO THE SECURITIES INVESTOR PROTECTION ACT OF 1970. COPY OF 2021 ANNUAL REPORT AVAILABLE ON SIPC'S WEBSITE (WWW.SIPC.ORG). MEMBERS AS OF 12/31/21 IS 3,404.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SIPC INITIATED NO NEW CUSTOMER PROTECTION PROCEEDING IN 2021. TOTAL PROCEEDINGS COMMENCED UNDER SIPC TO DATE ARE 330. IN 2021, 1 PROCEEDING IS BEING PROCESSED AND 1 PROCEEDING HAD SATISFIED CUSTOMER CLAIMS WITH LITIGATION MATTERS PENDING. CASH AND SECURITIES DISTRIBUTED FOR ACCOUNTS OF CUSTOMERS DURING 2021 TOTALED APPROXIMATELY $231 MILLION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josephine Wang President & CEO | Officer | 40 | $1,438,372 |
Kenneth J Caputo General Counsel & Sec'y | Officer | 40 | $941,185 |
Charles E Glover Vice President - Finance | Officer | 40 | $603,448 |
Karen L Saperstein Vice President - Operations | Officer | 40 | $442,043 |
Kevin H Bell Sr. Assoc. Gc - Dispute Res. | 40 | $370,676 | |
Christopher H Larosa Sr. Assoc. Gc - Litigation | 40 | $354,758 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Infernored Technology Inc It Consulting | 12/30/21 | $1,790,357 |
Science Applications International Corp It Consulting | 12/30/21 | $444,728 |
Mcginn And Company Investor Education | 12/30/21 | $200,000 |
Buck Global Llc Actuarial Services | 12/30/21 | $187,365 |
Grant Thornton Llp Accounting Services | 12/30/21 | $154,700 |
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 | $520,971,678 |
| 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 | $520,971,678 |
| 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. | $4,034,695 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,497,067 |
| Pension plan accruals and contributions | $383,977 |
| Other employee benefits | $1,802,105 |
| Payroll taxes | $460,294 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $61,211 |
| Fees for services: Accounting | $180,443 |
| Fees for services: Lobbying | $3,010 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $441,266 |
| Advertising and promotion | $228,357 |
| Office expenses | $504,287 |
| Information technology | $3,675,860 |
| Royalties | $0 |
| Occupancy | $995,613 |
| Travel | $5,486 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,810 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $306,758 |
| Insurance | $148,589 |
| All other expenses | $6,234 |
| Total functional expenses | $259,967,770 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,823,283 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $214,245,064 |
| 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 | $11,545,038 |
| Net Land, buildings, and equipment | $922,939 |
| Investments—publicly traded securities | $4,140,208,973 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,382,745,297 |
| Accounts payable and accrued expenses | $14,158,423 |
| Grants payable | $0 |
| Deferred revenue | $4,789,763 |
| 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 | $696,200,000 |
| Total liabilities | $715,148,186 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,667,597,111 |
| 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 | $4,382,745,297 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Finra Regulation Inc Rockville, MD | $51,636,831 | $1,138,654,783 |
Securities Investor Protection Corporation Washington, DC | $4,382,745,297 | $520,971,678 |
Stand Together Chamber Of Commerce Inc Arlington, VA | $220,861,452 | $325,758,897 |
American Petroleum Institute Washington, DC | $119,123,451 | $228,789,035 |
Chamber Of Commerce Of The United States Of America Washington, DC | $132,117,403 | $203,890,689 |
Society For Human Resource Management Alexandria, VA | $273,747,773 | $173,516,006 |
American Bankers Association Washington, DC | $263,742,289 | $140,712,476 |
National Restaurant Association Washington, DC | $192,667,812 | $96,146,955 |
American Association Of State Highway & Transportation Officials Washington, DC | $177,160,624 | $97,013,353 |
American Beverage Association Washington, DC | $114,967,236 | $101,585,081 |
Credit Union National Association Inc Washington, DC | $67,388,582 | $69,543,852 |
Edison Electric Institute Washington, DC | $198,917,565 | $81,084,181 |