Financial Industry Regulatory Authority Inc
- Assets
- $2.8b
- Revenue
- $1.7b
- Investments
- $450.5m
- Employees
- 4,336
- Location
- Rockville, MD
- Founding
- 06/1937
- Data as of
- 12/2022
- EIN
- 53-0088710
Organization Overview
Financial Industry Regulatory Authority Inc is located in Rockville, MD. The organization was established in 1937. 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 12/2022, Financial Industry Regulatory Authority Inc employed 4,336 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Financial Industry Regulatory Authority Inc 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 12/2022, Financial Industry Regulatory Authority Inc generated $1.7b in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $2.2b during the year ending 12/2022. While expenses have increased by 10.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FINRA IS DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINRA IS A NOT-FOR-PROFIT ORGANIZATION DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY. IT REGULATES ONE CRITICAL PART OF THE SECURITIES INDUSTRY - BROKERAGE FIRMS DOING BUSINESS WITH THE PUBLIC IN THE UNITED STATES. FINRA, OVERSEEN BY THE SEC, WRITES RULES, EXAMINES FOR AND ENFORCES COMPLIANCE WITH FINRA RULES AND FEDERAL SECURITIES LAWS, REGISTERS BROKER-DEALER PERSONNEL AND OFFERS THEM EDUCATION AND TRAINING, AND INFORMS THE INVESTING PUBLIC. IN ADDITION, THROUGH ITS SUBSIDIARY, FINRA REGULATION, INC., FINRA PROVIDES SURVEILLANCE AND OTHER REGULATORY SERVICES FOR EQUITIES AND OPTIONS MARKETS, AS WELL AS TRADE REPORTING AND OTHER INDUSTRY UTILITIES. FINRA REGULATION ALSO ADMINISTERS A DISPUTE RESOLUTION FORUM FOR INVESTORS AND BROKERAGE FIRMS AND THEIR REGISTERED EMPLOYEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President & CEO | OfficerTrustee | 60 | $4,062,829 |
Name Not Listed Board Member | Trustee | 2 | $112,903 |
Name Not Listed Board Member - Thru 6/1/22 | Trustee | 2 | $47,610 |
Name Not Listed Board Member | Trustee | 2 | $100,403 |
Name Not Listed Chairperson - Thru 8/19/22 | Trustee | 2 | $117,495 |
Name Not Listed Chairperson As Of 8/20/22 | Trustee | 2 | $143,187 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Amazon Web Services Hosting Services | 12/30/22 | $184,490,662 |
Prometric Testing Services | 12/30/22 | $15,323,566 |
Compugain Corporation Consulting | 12/30/22 | $13,817,258 |
Populas Group Llc Consulting | 12/30/22 | $9,731,942 |
Tek Systems Consulting | 12/30/22 | $13,128,687 |
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 | $1,173,993,109 |
| Investment income | $35,276,188 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $108,181 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$34,304,809 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,730,554,890 |
| 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. | $16,844,998 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $677,366,419 |
| Pension plan accruals and contributions | $58,977,923 |
| Other employee benefits | $60,735,141 |
| Payroll taxes | $41,882,697 |
| Fees for services: Management | $23,028,907 |
| Fees for services: Legal | $6,783,529 |
| Fees for services: Accounting | $1,477,420 |
| Fees for services: Lobbying | $354,058 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,071,657 |
| Fees for services: Other | $38,891,930 |
| Advertising and promotion | $67,949 |
| Office expenses | $4,844,822 |
| Information technology | $296,672,887 |
| Royalties | $0 |
| Occupancy | $17,027,462 |
| Travel | $3,573,771 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,474,666 |
| Interest | $567,872 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,828,807 |
| Insurance | $2,843,082 |
| All other expenses | $2,481,189 |
| Total functional expenses | $2,160,421,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $453,849,630 |
| Savings and temporary cash investments | $29,369,359 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $177,752,474 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,859,791 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,343,167 |
| Net Land, buildings, and equipment | $279,854,244 |
| Investments—publicly traded securities | $1,316,388,274 |
| Investments—other securities | $450,474,333 |
| Investments—program-related | $0 |
| Intangible assets | $9,021,399 |
| Other assets | $250,231 |
| Total assets | $2,751,162,902 |
| Accounts payable and accrued expenses | $1,072,991,706 |
| Grants payable | $0 |
| Deferred revenue | $303,545 |
| 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 | $0 |
| Total liabilities | $1,073,295,251 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $203,814,023 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,474,053,628 |
| Total liabilities and net assets/fund balances | $2,751,162,902 |