Municipal Securities Rulemaking Board

Washington, DC
Tax-exempt since July 1989
EIN: 52-1042433

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Type of Nonprofit

Designated as a 501(c)(6) Business leagues, chambers of commerce, real estate boards, etc, created for the improvement of business conditions.

Donations to this organization are not tax deductible.

Details

According to its Sept. 2023 tax filing, this nonprofit:

Provided first-class or charter travel

Organization provided first-class or charter travel to key employees or officers. Details are reported on Schedule J.

Revenue

$48.6M (2023)

Expenses

$46.9M (2023)

Total Assets

$76.2M (2023)

Total Liabilities

$17.5M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Sept.
2023

Revenue

$48,594,053

Expenses

$46,879,987

Net Income

$1,714,066

Net Assets

$58,706,401

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$44,979,616	92.6%
Program Services	$2,821,822	5.8%
Investment Income	$788,355	1.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$4,260	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$6,348,723	13.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$15,368,545	32.8%

Assets/Debt
Total Assets	$76,222,195
Total Liabilities	$17,515,794
Net Assets	$58,706,401

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Mark T Kim (President & Ceo)	$667,361	$0	$59,155
Nanette D Lawson (Chief Operating Officer)	$519,862	$0	$66,964
John A Bagley (Chief Market Structure Officer)	$507,395	$0	$63,589
E Adam Cusson (Chief Technology Officer)	$452,591	$0	$26,957
Jacob Lesser (General Counsel)	$422,381	$0	$28,824
Gail Marshall (Chief Regulatory Officer)	$401,314	$0	$52,256
Brian Anthony (Chief Data Officer)	$332,900	$0	$56,190
Simon Wu (Chief Economist)	$307,317	$0	$35,573
Tangie Davis (Deputy Chief Technology Officr)	$304,326	$0	$42,982
Jill Furick (Chief People Officer)	$301,283	$0	$36,021
Sally Klemperer (Sr. Associate General Counsel)	$297,315	$0	$51,593
John Toye (Deputy Chief Technology Offcr)	$294,022	$0	$61,476
Leah Szarek (Chief Of External Relations)	$282,914	$0	$41,708
Saliha Olgun (Interim Chief Regulatory Offcr)	$280,252	$0	$55,823
Omer S Ahmed (Chief Financial Officer)	$270,308	$0	$59,367
Ronald W Smith (Corporate Secretary)	$251,014	$0	$36,232
David Hodapp (Director, Market Regulation)	$247,369	$0	$56,746
Sara Majroh (Former Asst. Corporate Sec.)	$178,070	$0	$27,798
Jessica Faucette (Former Asst. Corporate Sec.)	$116,506	$0	$19,039
Meredith L Hathorn (Director, Board Chair)	$93,750	$0	$0
Carol Kostik (Director, Board Vice Chair)	$78,750	$0	$0
Patrick Brett (Director, Former Board Chair)	$78,750	$0	$0
Francis E Fairman Iv (Director)	$72,500	$0	$0
Jennie Huang Bennett (Director)	$67,500	$0	$0
Thalia Meehan (Director)	$67,500	$0	$0
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990

Filed on Aug. 14, 2024

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Fiscal Year Ending Sept.
2022

Revenue

$32,395,479

Expenses

$41,558,950

Net Income

-$9,163,471

Net Assets

$56,512,017

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$28,176,139	87.0%
Program Services	$3,549,975	11.0%
Investment Income	$668,714	2.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$651	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$6,138,281	14.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$13,893,412	33.4%

Assets/Debt
Total Assets	$68,082,981
Total Liabilities	$11,570,964
Net Assets	$56,512,017

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Mark T Kim (President & Ceo)	$678,950	$0	$57,227
Nanette D Lawson (Chief Operating Officer)	$532,069	$0	$67,320
John A Bagley (Chief Market Structure Officer)	$490,531	$0	$61,320
E Adam Cusson (Chief Technology Officer)	$447,906	$0	$25,915
Gail Marshall (Chief Regulatory Officer)	$435,629	$0	$46,351
Jacob Lesser (General Counsel)	$415,203	$0	$25,397
Brian Anthony (Chief Data Officer)	$306,774	$0	$51,040
Simon Wu (Chief Economist)	$295,266	$0	$30,296
Tangie Davis (Deputy Chief Technology Officr)	$284,803	$0	$38,978
Sally Klemperer (Sr. Associate General Counsel)	$284,367	$0	$33,209
Lalita Hirve (Deputy Chief Technology Offcr)	$283,376	$0	$50,248
Jill Furick (Chief People Officer)	$282,988	$0	$31,904
Leah Szarek (Chief Of External Relations)	$282,246	$0	$37,014
John Toye (Deputy Chief Technology Offcr)	$275,169	$0	$58,851
Ronald W Smith (Corporate Secretary)	$252,710	$0	$34,281
Omer S Ahmed (Cfo & Treasurer)	$235,009	$0	$57,020
Sara Ahmadzai (Assistant Corporate Secretary)	$161,448	$0	$35,390
Mallory Bucher (Former Asst Corp Secretary)	$135,350	$0	$24,140
Jessica Faucette (Assistant Corporate Secretary)	$102,609	$0	$17,473
Patrick Brett (Director, Board Chair)	$71,250	$0	$0
Edward J Sisk (Former Board Chair)	$67,500	$0	$0
Joseph P Darcy (Director)	$63,750	$0	$0
Meredith L Hathorn (Director, Board Vice Chair)	$63,750	$0	$0
Caroline Cruise (Director)	$61,250	$0	$0
Seema Mohanty (Director)	$61,250	$0	$0
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990

Filed on Aug. 11, 2023

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Fiscal Year Ending Sept.
2021

Revenue

$35,699,202

Expenses

$41,164,114

Net Income

-$5,464,912

Net Assets

$67,594,903

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$32,083,204	89.9%
Program Services	$2,983,823	8.4%
Investment Income	$631,915	1.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$260	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$5,138,145	12.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$14,100,042	34.3%

Assets/Debt
Total Assets	$78,531,119
Total Liabilities	$10,936,216
Net Assets	$67,594,903

Provided first-class or charter travel

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Lynnette Kelly (Former Ceo)	$823,874	$0	$0
Nanette D Lawson (Coo (Interim Ceo Thru 9/20))	$649,248	$0	$65,252
Mark T Kim (President & Ceo(coo Thru 9/20))	$614,415	$0	$57,520
John A Bagley (Chief Market Structure Officer)	$527,957	$0	$58,000
Gail Marshall (Chief Regulatory Officer)	$428,565	$0	$46,794
E Adam Cusson (Chief Technology Officer)	$383,020	$0	$30,558
Jacob Lesser (General Counsel)	$328,498	$0	$28,195
Lalita Hirve (Deputy Chief Technology Offcr)	$299,427	$0	$52,770
Simon Wu (Chief Economist)	$295,282	$0	$33,495
Marcelo Vieira (Director, Research)	$279,947	$0	$30,723
Sally Klemperer (Sr. Associate General Counsel)	$271,320	$0	$36,263
John Toye (Deputy Chief Technology Off Cr)	$268,483	$0	$58,241
Ronald W Smith (Corporate Secretary)	$265,000	$0	$36,397
Omer S Ahmed (Cfo & Treasurer)	$225,718	$0	$56,427
Sara Ahmadzai (Assistant Corporate Secretary)	$166,001	$0	$34,845
Mallory Bucher (Asst. Corp. Sec. (Until 7/20))	$118,475	$0	$23,123
Jessica Faucette (Assistant Corporate Secretary)	$90,781	$0	$15,928
Edward J Sisk (Director, Board Chair)	$90,000	$0	$0
Manju S Ganeriwala (Director)	$66,250	$0	$0
Julia H Cooper (Director, Board Vice Chair)	$61,550	$0	$0
William M Fitzgerald Sr (Director (Until 5/21))	$58,750	$0	$0
Joseph P Darcy (Director)	$56,550	$0	$0
Seema Mohanty (Director)	$56,550	$0	$0
Donna M Simonetti (Director)	$56,550	$0	$0
Patrick Brett (Director)	$56,250	$0	$0
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990

Filed on Aug. 10, 2022

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Fiscal Year Ending Sept.
2020

Revenue

$46,866,502

Expenses

$43,872,714

Net Income

$2,993,788

Net Assets

$73,661,537

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$41,792,326	89.2%
Program Services	$3,863,775	8.2%
Investment Income	$1,207,475	2.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$2,926	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$4,764,576	10.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$14,641,228	33.4%

Assets/Debt
Total Assets	$83,153,694
Total Liabilities	$9,492,157
Net Assets	$73,661,537

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Lynnette Kelly (Former Ceo)	$1,017,062	$0	$48,499
Mark T Kim (Executive Vp And Coo)	$607,121	$0	$58,236
Ritta Mclaughlin (Chief Edu. Off. (Until 11/19))	$578,281	$0	$48,584
John A Bagley (Chief Market Structure Officer)	$492,786	$0	$54,906
Nanette D Lawson (Interim Ceo And Cfo, Treasurer)	$401,621	$0	$69,013
Gail Marshall (Chief Compliance Officer)	$400,137	$0	$43,496
Jennifer A Galloway (Former Chief Comm. Officer)	$352,291	$0	$41,027
Lanny Schwartz (Former Chief Regulatory Off.)	$308,470	$0	$29,602
Michael Post (Former General Counsel)	$307,801	$0	$21,012
E Adam Cusson (Chief Info. Off. (Eff. 7/1/19))	$265,428	$0	$22,541
Pamela Ellis (Assoc Gen Cnsl (Until 12/19))	$253,793	$0	$33,721
Simon Wu (Chief Economist)	$249,694	$0	$29,071
Jill Furick (Director Human Resources)	$238,315	$0	$28,929
Ronald W Smith (Corporate Secretary)	$226,583	$0	$32,724
Sally Klemperer (Associate General Counsel)	$219,948	$0	$28,931
Sara Ahmadzai (Assistant Corporate Secretary)	$137,447	$0	$31,872
Mallory Bucher (Assistant Corporate Secretary)	$133,767	$0	$21,845
Jessica Faucette (Assistant Corporate Secretary)	$88,658	$0	$15,576
Edward J Sisk (Director, Board Chair)	$71,250	$0	$0
Gary Hall (Former Director, Board Chair)	$67,500	$0	$0
Robert Clarke Brown (Director)	$60,600	$0	$0
Julia H Cooper (Director)	$60,300	$0	$0
Jerry W Ford (Director)	$60,300	$0	$0
Manju S Ganeriwala (Director, Board Vice Chair)	$58,750	$0	$0
Kemp J Lewis (Director)	$56,550	$0	$0
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990

Filed on Aug. 13, 2021

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Fiscal Year Ending Sept.
2019

Revenue

$32,877,847

Expenses

$42,302,498

Net Income

-$9,424,651

Net Assets

$70,287,984

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$28,739,318	87.4%
Program Services	$2,857,801	8.7%
Investment Income	$1,280,728	3.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$5,769,871	13.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$13,648,080	32.3%

Assets/Debt
Total Assets	$80,231,181
Total Liabilities	$9,943,197
Net Assets	$70,287,984

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Lynnette Kelly (Ceo (Until 09/30/19))	$1,338,930	$0	$45,309
Mark Kim (Vice President And Coo)	$565,372	$0	$62,431
John A Bagley (Chief Market Structure Officer)	$463,517	$0	$55,980
Michael Post (General Counsel)	$428,035	$0	$29,278
Gail Marshall (Chief Compliance Officer)	$370,419	$0	$46,170
Ritta Mclaughlin (Chief Education Officer)	$328,255	$0	$53,757
Lanny Schwartz (Chief Regulatory Officer)	$324,585	$0	$26,356
Nanette D Lawson (Treasurer And Cfo)	$286,299	$0	$63,792
Jennifer A Galloway (Chief Communications Officer)	$267,595	$0	$62,812
Margaret Blake (Associate Genral Counsel)	$267,337	$0	$57,218
Pamela Ellis (Associate General Counsel)	$265,371	$0	$35,598
Simon Wu (Chief Economist)	$247,081	$0	$32,465
Ronald W Smith (Corporate Secretary)	$225,612	$0	$33,432
Mallory Bucher (Assistant Corporate Secretary)	$114,257	$0	$20,022
Gary Hall (Director, Board Chair)	$67,800	$0	$0
Lucy Hooper (Former Board Chair)	$67,500	$0	$0
Richard K Ellis (Director)	$60,300	$0	$0
Edward J Sisk (Director, Board Vice Chair)	$57,500	$0	$0
Ronald J Dieckman (Director)	$56,702	$0	$0
Julia H Cooper (Director)	$56,550	$0	$0
Jerry W Ford (Director)	$56,550	$0	$0
Robert Clarke Brown (Director)	$56,250	$0	$0
Renee Boicourt (Director)	$55,300	$0	$0
Lakshmi Kommi (Director)	$55,300	$0	$0
Kemp J Lewis (Director)	$55,300	$0	$0
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990

Filed on Aug. 17, 2020

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Fiscal Year Ending Sept.
2018

Revenue

$42,100,901

Expenses

$37,378,304

Net Income

$4,722,597

Net Assets

$78,815,461

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$38,301,643	91.0%
Program Services	$2,938,970	7.0%
Investment Income	$860,288	2.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$5,173,729	13.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$12,788,729	34.2%

Assets/Debt
Total Assets	$88,567,608
Total Liabilities	$9,752,147
Net Assets	$78,815,461

Provided first-class or charter travel

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Lynnette Kelly (Chief Executive Officer)	$865,397	$0	$169,966
John A Bagley (Chief Market Structure Officer)	$462,906	$0	$53,987
Michael Post (General Counsel)	$437,410	$0	$29,420
Mark Kim (Chief Operating Officer)	$396,690	$0	$39,950
Robert Fippinger (Former Chief Legal Officer)	$368,802	$0	$33,549
Elizabeth A Wolfe (Former Chief Risk Officer)	$352,742	$0	$44,380
Ritta Mc Laughlin (Chief Education Officer)	$341,652	$0	$43,365
Gail Marshall (Chief Compliance Officer)	$321,520	$0	$43,419
Jennifer A Galloway (Chief Communications Officer)	$266,220	$0	$60,476
Margaret Blake (Associate General Counsel)	$255,141	$0	$54,064
Pamela Ellis (Associate General Counsel)	$254,252	$0	$34,386
Nanette D Lawson (Treasurer And Cfo)	$228,159	$0	$54,359
Ronald W Smith (Corporate Secretary)	$223,426	$0	$32,273
Mallory Bucher (Assistant Corporate Secretary)	$107,527	$0	$18,475
Sara Ahmadzai (Former Asst. Corp. Secretary)	$107,520	$0	$22,841
Amytis G Ramos (Assistant Corporate Secretary)	$102,755	$0	$43,556
Lucy Hooper (Director, Board Chair)	$60,000	$0	$0
Colleen Woodell (Former Director, Board Chair)	$60,000	$0	$0
Arthur M Miller (Director, Board Vice Chair)	$57,800	$0	$0
Richard K Ellis (Director)	$52,250	$0	$0
J Anthony Beard (Director)	$49,050	$0	$0
Gary Hall (Director)	$49,050	$0	$0
Renee Boicourt (Director)	$47,800	$0	$0
Julia H Cooper (Director)	$47,800	$0	$0
Jerry W Ford (Director)	$47,800	$0	$0
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990

Filed on Feb. 8, 2019

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Fiscal Year Ending Sept.
2017

Revenue

$41,318,901

Expenses

$35,833,571

Net Income

$5,485,330

Net Assets

$74,436,612

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$36,751,638	88.9%
Program Services	$3,900,218	9.4%
Investment Income	$667,045	1.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$5,641,665	15.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$11,560,806	32.3%

Assets/Debt
Total Assets	$84,511,116
Total Liabilities	$10,074,504
Net Assets	$74,436,612

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Lynnette Kelly (Executive Director)	$878,305	$0	$170,516
Robert Fippinger (Chief Legal Officer)	$673,222	$0	$42,074
Alan Morisato (Chief Ops And Tech Officer)	$488,974	$0	$30,029
John A Bagley (Chief Market Structure Officer)	$470,800	$0	$54,427
Michael Post (General Counsel)	$460,228	$0	$31,058
Elizabeth A Wolfe (Treasurer, Cfo And Cro)	$428,680	$0	$43,903
Ritta Mc Laughlin (Chief Education Officer)	$364,242	$0	$39,130
Gail Marshall (Chief Compliance Officer)	$286,764	$0	$44,414
Jennifer A Galloway (Chief Communications Officer)	$275,634	$0	$37,339
Margaret Blake (Associate General Counsel)	$246,163	$0	$53,653
Ronald W Smith (Corporate Secretary)	$210,302	$0	$32,982
Nanette D Lawson (Treasurer And Cfo)	$186,119	$0	$52,552
Sara Majroh (Assistant Corporate Secretary)	$144,566	$0	$23,690
Amytis G Ramos (Assistant Corporate Secretary)	$99,758	$0	$45,151
Mallory Bucher (Assistant Corporate Secretary)	$95,407	$0	$17,528
Colleen Woodell (Director, Board Chair)	$65,000	$0	$0
Nathaniel Singer (Former Director, Board Chair)	$60,000	$0	$0
Arthur M Miller (Director, Board Vice Chair)	$51,550	$0	$0
Dall Forsythe (Director)	$48,750	$0	$0
Steve Apfelbacher (Director)	$46,550	$0	$0
Mark Kim (Director)	$46,550	$0	$0
Rita Sallis (Director)	$46,550	$0	$0
Lucy Hooper (Director)	$46,250	$0	$0
Renee Boicourt (Director)	$45,300	$0	$0
Richard K Ellis (Director)	$45,300	$0	$0
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990

Filed on Jan. 30, 2018

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Fiscal Year Ending Sept.
2016

Revenue

$35,334,268

Expenses

$35,587,170

Net Income

-$252,902

Net Assets

$69,314,804

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$31,011,375	87.8%
Program Services	$3,809,759	10.8%
Investment Income	$488,316	1.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$24,818	0.1%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$4,980,451	14.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$11,540,476	32.4%

Assets/Debt
Total Assets	$79,547,955
Total Liabilities	$10,233,151
Net Assets	$69,314,804

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Lynnette Kelly (Executive Director)	$1,207,958	$0	$176,219
Robert Fippinger (Chief Legal Officer)	$524,097	$0	$36,134
John A Bagley (Chief Market Structure Officer)	$471,591	$0	$61,639
Michael Post (Gen Counsel Reg Affairs)	$467,854	$0	$35,090
Alan Morisato (Chief Ops & Tech Offr)	$457,029	$0	$33,573
Elizabeth A Wolfe (Treasurer And Cfo)	$450,721	$0	$49,583
Ritta Mclaughlin (Chief Education Officer)	$342,352	$0	$38,773
Jennifer A Galloway (Chief Communications Officer)	$283,545	$0	$42,794
Gail Marshall (Assoc Gc Enforcement)	$238,998	$0	$29,300
Sharon K Zackula (Associate General Counsel)	$223,313	$0	$27,697
Ronald W Smith (Corporate Secretary)	$199,370	$0	$29,971
Nanette D Lawson (Deputy Cfo)	$171,672	$0	$47,296
Lawrence P Sandor (Deputy General Counsel)	$135,413	$0	$16,990
Sara Majroh (Assistant Secretary)	$134,754	$0	$21,313
Amytis G Ramos (Assistant Secretary)	$89,345	$0	$48,440
Kym S Arnone (Director, Board Chair)	$60,000	$0	$0
Nathaniel Singer (Director, Board Chair)	$57,800	$0	$0
Colleen Woodell (Director, Board Vice Chair)	$52,500	$0	$0
Dall Forsythe (Director)	$46,724	$0	$0
Arthur Miller (Director)	$46,550	$0	$0
Brian L Wynne (Director)	$46,550	$0	$0
Richard K Ellis (Director)	$46,100	$0	$0
Gary Hall (Director)	$45,300	$0	$0
Lakshmi Kommi (Director)	$45,300	$0	$0
Richard Froehlich (Director)	$45,300	$0	$0
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990

Filed on Feb. 3, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Sept.
2015

Revenue

$41,199,697

Expenses

$32,201,607

Net Income

$8,998,090

Net Assets

$69,514,994

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$36,108,884	87.6%
Program Services	$4,700,257	11.4%
Investment Income	$390,556	0.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$4,109,808	12.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$10,583,155	32.9%

Assets/Debt
Total Assets	$74,829,468
Total Liabilities	$5,314,474
Net Assets	$69,514,994

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Lynnette Kelly (Executive Director)	$857,097	$0	$157,213
Gary L Goldsholle (General Counsel)	$459,624	$0	$51,735
Alan Morisato (Chief Ops And Tech Offr)	$401,175	$0	$22,368
Elizabeth A Wolfe (Treasurer And Cfo)	$394,104	$0	$39,050
Lawrence P Sandor (Deputy General Counsel)	$344,041	$0	$54,842
Ernesto A Lanza (Deputy Executive Director)	$339,620	$0	$26,327
Michael Post (Gen Counsel Reg Affairs)	$336,880	$0	$25,197
Ritta Mclaughlin (Chief Education Officer)	$305,584	$0	$32,414
Jennifer A Galloway (Chief Commun Officer)	$252,111	$0	$37,330
Leslie Carey (Assoc General Counsel)	$205,082	$0	$22,370
Ronald W Smith (Secretary)	$184,805	$0	$27,977
Sarah Majroh (Assistant Secretary)	$115,753	$0	$19,041
Amytis G Ramos (Assistant Secretary)	$83,603	$0	$42,902
Daniel Heimowitz (Director, Board Chair)	$60,000	$0	$0
Kym S Arnone (Director, Board Chair)	$57,800	$0	$0
Craig A Noble (Director)	$50,300	$0	$0
Robert A Fippinger (Director)	$50,000	$0	$0
Robin L Wiessmann (Director)	$49,050	$0	$0
Marcy Edwards (Director, Bd Vice Chair)	$49,050	$0	$0
Nathaniel Singer (Director)	$46,550	$0	$0
Colleen Woodell (Director)	$46,250	$0	$0
Brian L Wynne (Director)	$45,300	$0	$0
Lakshmi Kommi (Director)	$45,300	$0	$0
Marianne F Edmonds (Director)	$45,300	$0	$0
W Bartley Hildreth (Director)	$45,300	$0	$0
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990

Filed on Feb. 10, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Sept.
2014

Revenue

$32,008,523

Expenses

$29,502,499

Net Income

$2,506,024

Net Assets

$60,389,025

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$28,766,380	89.9%
Program Services	$3,006,782	9.4%
Investment Income	$215,387	0.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$19,974	0.1%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$4,277,393	14.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$9,088,548	30.8%

Assets/Debt
Total Assets	$64,620,381
Total Liabilities	$4,231,356
Net Assets	$60,389,025

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Lynnette Kelly (Executive Director)	$832,574	$0	$151,057
Ernesto A Lanza (Deputy Executive Dir)	$540,923	$0	$27,939
Gary L Goldsholle (General Counsel)	$429,852	$0	$48,828
Alan Morisato (Chief Ops And Tech Off)	$385,842	$0	$20,198
Elizabeth A Wolfe (Treasurer And Cfo)	$380,910	$0	$36,496
Lawrence P Sandor (Deputy General Counsel)	$345,370	$0	$20,768
Ritta Mclaughlin (Chief Education Officer)	$295,989	$0	$31,273
Kathleen Miles (Assoc General Counsel)	$273,255	$0	$22,901
Leslie Carey (Assoc General Counsel)	$245,922	$0	$31,493
Jennifer A Galloway (Chief Comm Officer)	$230,892	$0	$34,503
Ronald W Smith (Secretary)	$183,149	$0	$27,409
Sarah Majroh (Assistant Secretary)	$103,499	$0	$16,814
Jay M Goldstone (Director, Board Chair)	$80,300	$0	$0
Amytis G Ramos (Assistant Secretary)	$76,375	$0	$39,228
Daniel Heimowitz (Director, Board Chair)	$65,000	$0	$0
Joseph J Geraci (Director, Bd Vice Chair)	$64,350	$0	$0
Dall Forsythe (Director)	$63,100	$0	$0
Robert A Fippinger (Director)	$63,100	$0	$0
Stephen E Heaney (Director, Bd Vice Chair)	$60,000	$0	$0
Craig A Noble (Director)	$58,900	$0	$0
Kym S Arnone (Director)	$58,900	$0	$0
Robin L Wiessmann (Director)	$58,900	$0	$0
Marianne F Edmonds (Director)	$57,650	$0	$0
W Bartley Hildreth (Director)	$57,650	$0	$0
Richard K Ellis (Director)	$57,050	$0	$0
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990

Filed on Feb. 4, 2015

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

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Fiscal Year Ending Sept.
2013

Revenue

$39,270,359

Expenses

$27,778,330

Net Income

$11,492,029

Net Assets

$57,879,224

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$35,067,556	89.3%
Program Services	$4,098,182	10.4%
Investment Income	$104,621	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$4,247,803	15.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$8,815,666	31.7%

Assets/Debt
Total Assets	$60,813,189
Total Liabilities	$2,933,965
Net Assets	$57,879,224

990

Filed on April 9, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Sept.
2012

Revenue

$39,892,663

Expenses

$26,836,712

Net Income

$13,055,951

Net Assets

$46,394,562

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$35,445,924	88.9%
Program Services	$4,405,387	11.0%
Investment Income	$41,352	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$4,076,612	15.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$7,826,198	29.2%

Assets/Debt
Total Assets	$50,041,243
Total Liabilities	$3,646,681
Net Assets	$46,394,562

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Sept.
2011

Revenue

$33,507,215

Expenses

$26,075,879

Net Income

$7,431,336

Net Assets

$33,338,936

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$30,277,882	90.4%
Program Services	$3,141,462	9.4%
Investment Income	$87,871	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$3,869,617	14.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$7,593,270	29.1%

Assets/Debt
Total Assets	$36,651,410
Total Liabilities	$3,312,474
Net Assets	$33,338,936

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

Raw filing data. Includes EINs and summary financials as structured data.
Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

Updated November 21, 2024

Municipal Securities Rulemaking Board

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $48.6M (2023)

Expenses $46.9M (2023)

Total Assets $76.2M (2023)

Total Liabilities $17.5M (2023)

Tax Filings by Year

Fiscal Year Ending Sept. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Sept. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Sept. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Sept. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Sept. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Sept. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Sept. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Sept. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Sept. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Sept. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Revenue

$48.6M (2023)

Expenses

$46.9M (2023)

Total Assets

$76.2M (2023)

Total Liabilities

$17.5M (2023)

Fiscal Year Ending Sept.
2023

Fiscal Year Ending Sept.
2022

Fiscal Year Ending Sept.
2021

Fiscal Year Ending Sept.
2020

Fiscal Year Ending Sept.
2019

Fiscal Year Ending Sept.
2018

Fiscal Year Ending Sept.
2017

Fiscal Year Ending Sept.
2016

Fiscal Year Ending Sept.
2015

Fiscal Year Ending Sept.
2014

Fiscal Year Ending Sept.
2013

Fiscal Year Ending Sept.
2012

Fiscal Year Ending Sept.
2011

Fiscal Year Ending Sept.
2010

Fiscal Year Ending Sept.
2009

Fiscal Year Ending Sept.
2008

Fiscal Year Ending Sept.
2007

Fiscal Year Ending Sept.
2006

Fiscal Year Ending Sept.
2005