Municipal Securities Rulemaking Board
- Assets
- $78.5m
- Revenue
- $35.7m
- Investments
- $0.0
- Employees
- 124
- Location
- Washington, DC
- Founding
- 07/1989
- Data as of
- 09/2021
- EIN
- 52-1042433
Organization Overview
Municipal Securities Rulemaking Board is located in Washington, DC. The organization was established in 1989. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2021, Municipal Securities Rulemaking Board employed 124 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Municipal Securities Rulemaking Board 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 09/2021, Municipal Securities Rulemaking Board generated $35.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $41.2m during the year ending 09/2021. While expenses have increased by 2.5% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MSRB PROTECTS INVESTORS, STATE AND LOCAL GOVERNMENTS AND OTHER MUNICIPAL ENTITIES, AND THE PUBLIC INTEREST BY PROMOTING A FAIR & EFFICIENT MUNICIPAL SECURITIES MARKET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESPONSIBLE FOR DEVELOPING AND MAINTAINING THE MSRB RULES THAT ESTABLISH RESPONSIBILITIES AND STANDARDS FOR BROKERS, DEALERS AND MUNICIPAL SECURITIES DEALERS AFFECTING MUNICIPAL SECURITIES TRANSACTIONS AND FOR MUNICIPAL ADVISORS THAT ENGAGE IN MUNICIPAL ADVISORY ACTIVITIES. MARKET REGULATION ALSO MAINTAINS THE MSRB'S PROFESSIONAL QUALIFICATIONS PROGRAM, CREATE COMPLIANCE AND EDUCATIONAL RESOURCES FOR REGULATED ENTITIES AND PROVIDE ASSISTANCE TO OTHER SECURITIES REGULATORS THAT EXAMINE FOR COMPLIANCE WITH AND ENFORCE MSRB RULES: SEE SCHEDULE O
RESPONSIBLE FOR DEVELOPING AND OPERATING THE MSRB'S MARKET TRANSPARENCY AND INFORMATION SYSTEMS THAT RECEIVE, PROCESS AND DISSEMINATE MARKET-CRITICAL DATA AND DOCUMENTS RELIED ON BY THE MUNICIPAL SECURITIES MARKET, SUPPORTING BUSINESS OPERATIONS AND OPTIMIZING THE BUSINESS EXPERIENCE. CYBERSECURITY PREVENTION, DETECTION AND INCIDENT RESPONSE ARE ALSO THE RESPONSIBILITY OF THIS PROGRAM: SEE SCHEDULE O
RESPONSIBLE FOR INITIATIVES THAT PROVIDE INSIGHT INTO THE MUNICIPAL MARKET THROUGH DATA RESEARCH AND ANALYSIS. THIS INCLUDES A FOCUS ON THE GOVERNANCE, QUALITY AND ANALYSIS OF DATA COLLECTED BY THE MSRB'S MARKET TRANSPARENCY SYSTEMS AND PROVIDING ECONOMIC ANALYSIS AND RESEARCH RELATING TO REGULATORY AND TRANSPARENCY PROJECTS. ECONOMIC ANALYSIS INFORMS THE REGULATORY APPROACH TO ADDRESSING AN IDENTIFIED NEED FOR RULEMAKING AND EVALUATES THE COST OF THE REGULATION AGAINST THE BENEFIT TO THE MARKET. WORKING WITH MARKET TRANSPARENCY AND TECHNOLOGY, THIS PROGRAM ALSO GUIDES STRATEGIC DEVELOPMENT AND ONGOING IMPROVEMENTS OF MSRB'S MARKET TRANSPARENCY SYSTEMS INCLUDING THE EMMA(R) WEBSITE: SEE SCHEDULE O
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynnette Kelly Former CEO | 0 | $823,874 | |
Nanette D Lawson COO (interim CEO Thru 9/20) | Officer | 40 | $649,248 |
Mark T Kim President & Ceo(coo Thru 9/20) | Officer | 40 | $614,415 |
John A Bagley Chief Market Structure Officer | Officer | 40 | $527,957 |
Gail Marshall Chief Regulatory Officer | Officer | 40 | $428,565 |
E Adam Cusson Chief Technology Officer | Officer | 40 | $383,020 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Accenture Federal Services Cloud Migration | 9/29/21 | $3,205,979 |
Cc Pace Systems Inc Software Development | 9/29/21 | $2,145,723 |
Hitachi Vantara Llc Software Development | 9/29/21 | $525,860 |
Robert A Fippinger Counsel To The Board | 9/29/21 | $302,725 |
Amazon Web Services Inc Cloud Migration | 9/29/21 | $420,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $32,083,204 |
| 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 | $32,083,204 |
| Total Program Service Revenue | $2,983,823 |
| Investment income | $631,915 |
| 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 | $35,699,202 |
| 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. | $5,138,145 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $14,100,042 |
| Pension plan accruals and contributions | $1,235,225 |
| Other employee benefits | $1,263,136 |
| Payroll taxes | $1,357,373 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $61,882 |
| Fees for services: Accounting | $280,635 |
| Fees for services: Lobbying | $422,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,843,135 |
| Advertising and promotion | $0 |
| Office expenses | $438,764 |
| Information technology | $4,086,524 |
| Royalties | $0 |
| Occupancy | $2,343,987 |
| Travel | $20,155 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $87,618 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,173,232 |
| Insurance | $319,950 |
| All other expenses | $143,855 |
| Total functional expenses | $41,164,114 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $734,694 |
| Savings and temporary cash investments | $4,111,650 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,040,472 |
| 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 | $1,663,128 |
| Net Land, buildings, and equipment | $10,590,006 |
| Investments—publicly traded securities | $57,391,169 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $78,531,119 |
| Accounts payable and accrued expenses | $4,990,928 |
| Grants payable | $0 |
| Deferred revenue | $214,700 |
| 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 | $5,730,588 |
| Total liabilities | $10,936,216 |
| Net assets without donor restrictions | $67,594,903 |
| 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 | $78,531,119 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ctia-The Wireless Association Washington, DC | $237,780,114 | $87,124,498 |
Association Of American Railroads Washington, DC | $28,256,585 | $56,732,394 |
Municipal Securities Rulemaking Board Washington, DC | $78,531,119 | $35,699,202 |
American Gas Association Washington, DC | $54,599,533 | $35,694,026 |
National Association Of Corporate Directors Arlington, VA | $39,765,653 | $29,674,430 |
Association Of The United States Army Inc Arlington, VA | $92,353,784 | $27,615,070 |
National Association Of Counties Washington, DC | $110,279,270 | $28,057,928 |
American Public Power Assoc Arlington, VA | $27,597,409 | $24,009,237 |
American Public Transit Association Washington, DC | $25,928,823 | $18,627,373 |
National Association Of Federal Credit Unions Inc Arlington, VA | $31,185,033 | $18,837,903 |
National Telecommunications Cooperative Association Arlington, VA | $35,978,919 | $14,734,223 |
Nreca International Ltd Arlington, VA | $16,103,141 | $13,958,230 |