Finra Regulation Inc

Rockville, MD
Tax-exempt since May 1997
EIN: 52-1959501

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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.

Revenue

$1.04B (2022)

Expenses

$693M (2022)

Total Assets

$31M (2022)

Total Liabilities

$149M (2022)

Source: Form 990 tax filings from 2011 to 2022

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 Dec.
2022

Revenue

$1,039,482,542

Expenses

$693,480,189

Net Income

$346,002,353

Net Assets

-$118,331,767

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$1,039,428,182	100.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$54,360	0.0%
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	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$30,977,462
Total Liabilities	$149,309,229
Net Assets	-$118,331,767

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert W Cook (President & Ceo)	$0	$4,062,829	$213,888
Deborah Bailey (Regulatory Policy Committee)	$0	$100,403	$0
Eileen K Murray (Regulatory Policy Committee Thru 8/19/22)	$0	$117,495	$0
Eric W Noll (Regulatory Policy Committee As Of 8/19/22)	$0	$143,187	$0
Ethiopis Tafara (Regulatory Policy Committee)	$0	$687	$0
Hillary A Sale (Chair, Regulatory Policy Comm Itte Thru 8/19/22)	$0	$86,490	$0
James T Crowley (Regulatory Policy Committee As Of 3/10/22)	$0	$0	$0
John B Ehnes (Regulatory Policy Committee)	$0	$113,187	$0
Kathryn Ruemmler (Regulatory Policy Committee)	$0	$0	$0
Maureen Jensen (Chair, Regulatory Policy Committee As Of 8/20/22)	$0	$103,812	$0
Moira A Kilcoyne (Regulatory Policy Committee As Of 8/19/22)	$0	$50,687	$0
Paige W Pierce (Regulatory Policy Committee)	$0	$100,403	$0
Timothy C Scheve (Regulatory Policy Committee)	$0	$113,187	$0
Bari M Havlik (Executive Vice President)	$0	$845,871	$165,537
Gregory Ruppert (Executive Vice President)	$0	$1,054,437	$190,927
Jessica Hopper (Executive Vice President)	$0	$986,749	$183,049
Marcia E Asquith (Evp, Board & External Relations)	$0	$1,199,500	$59,906
Richard W Berry (Executive Vice President)	$0	$733,828	$144,010
Robert L D Colby (Evp And Chief Legal Officer)	$0	$1,313,006	$82,151
Stephanie Dumont (Executive Vice President)	$0	$1,174,147	$58,128
Todd T Diganci (Executive Vice President/Cfao)	$0	$2,146,292	-$1,370,453

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990

Filed on Nov. 15, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$1,138,654,783

Expenses

$668,437,890

Net Income

$470,216,893

Net Assets

-$89,457,531

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$1,138,598,186	100.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$56,597	0.0%
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	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$51,636,831
Total Liabilities	$141,094,362
Net Assets	-$89,457,531

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert W Cook (President & Ceo)	$0	$3,753,882	$417,314
Brian J Kovack (Reg Policy Committee Thru 8/21)	$0	$68,027	$0
Charles I Plosser (Reg Policy Committee Thru 8/21)	$0	$68,027	$0
Deborah Bailey (Reg Policy Committee As Of 5/21)	$0	$90,985	$0
Eileen K Murray (Regulatory Policy Committee)	$0	$145,653	$0
Ethiopis Tafara (Regulatory Policy Committee)	$0	$1,208	$0
Hillary A Sale (Chair, Reg Policy Comm Ittee)	$0	$101,273	$0
John B Ehnes (Regulatory Policy Committee)	$0	$102,885	$0
Kathleen A Murphy (Reg Policy Committee Thru 8/21)	$0	$75,527	$0
Kathryn Ruemmler (Reg Policy Committee As Of 5/21)	$0	$972	$0
Maureen Jensen (Regulatory Policy Committee)	$0	$92,651	$0
Paige W Pierce (Regulatory Policy Committee)	$0	$90,972	$0
Peter R Fisher (Reg Policy Committee Thru 10/21)	$0	$90,671	$0
Timothy C Scheve (Regulatory Policy Committee)	$0	$100,972	$0
Bari M Havlik (Executive Vice President)	$0	$1,473,561	$68,199
Gregory Ruppert (Executive Vice President)	$0	$802,032	$158,274
Jessica Hopper (Executive Vice President)	$0	$1,142,290	$90,120
Marcia E Asquith (Evp, Board & External Relations)	$0	$881,386	$134,302
Richard W Berry (Executive Vice President)	$0	$984,738	$87,425
Robert L D Colby (Evp And Chief Legal Officer)	$0	$1,218,226	$74,476
Todd T Diganci (Executive Vice President/Cfao)	$0	$1,365,827	$141,453

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990

Filed on Nov. 14, 2022

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Fiscal Year Ending Dec.
2020

Revenue

$964,459,237

Expenses

$634,634,476

Net Income

$329,824,761

Net Assets

-$63,686,272

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$964,396,404	100.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$62,833	0.0%
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	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$68,166,800
Total Liabilities	$131,853,072
Net Assets	-$63,686,272

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert W Cook (President & Ceo)	$0	$2,546,014	$573,549
Brian J Kovack (Regulatory Policy Committee)	$0	$90,206	$0
Charles I Plosser (Regulatory Policy Committee)	$0	$90,624	$0
Elisse B Walter (Chair, Reg Policy Committee Thru 8/20)	$0	$76,308	$0
Ethiopis Tafara (Regulatory Policy Committee)	$0	$624	$0
Hillary A Sale (Chair, Reg Policy Comm Ittee As Of 8/20)	$0	$95,624	$0
John B Ehnes (Regulatory Policy Committee)	$0	$100,624	$0
Joshua S Levine (Reg Policy Committee Thru 8/20)	$0	$76,183	$0
Kathleen A Murphy (Regulatory Policy Committee)	$0	$100,624	$0
Maureen Jensen (Regulatory Policy Committee)	$0	$45,516	$0
Paige W Pierce (Regulatory Policy Committee)	$0	$90,624	$0
Peter R Fisher (Regulatory Policy Committee)	$0	$90,624	$0
Stephen A Kohn (Reg Policy Committee Thru 8/20)	$0	$68,378	$0
Susan Wolburgh Jenah (Reg Policy Comm Ittee Thru 8/20)	$0	$76,312	$0
Timothy C Scheve (Regulatory Policy Committee)	$0	$95,624	$0
William H Heyman (Reg Policy Committee Thru 8/20)	$0	$111,267	$0
Bari M Havlik (Executive Vice President)	$0	$1,140,073	$172,788
Marcia E Asquith (Evp, Board & External Relations)	$0	$844,170	$252,546
Richard W Berry (Exective Vice President)	$0	$677,410	$407,399
Robert Ld Colby (Evp And Chief Legal Officer)	$0	$1,193,369	$49,662
Thomas R Gira (Executive Vice President)	$0	$870,774	$626,307
Todd T Diganci (Executive Vice President/Cfao)	$0	$1,632,643	$99,982
Derek W Linden (Executive Vice President)	$0	$745,187	-$54,730
Jonathan S Sokobin (Senior Vice President)	$0	$595,433	$140,854
Stephen M Schoeneman (Senior Vice President)	$0	$870,162	$25,484
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990

Filed on Nov. 15, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$805,372,686

Expenses

$665,104,315

Net Income

$140,268,371

Net Assets

-$107,018,077

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$805,258,766	100.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$113,920	0.0%
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	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$31,398,219
Total Liabilities	$138,416,296
Net Assets	-$107,018,077

Compensation

Key Employees and Officers	Compensation	Related	Other
Robert W Cook (President & Ceo)	$0	$3,394,843	$253,467
Brian J Kovack (Regulatory Policy Committee)	$0	$90,180	$0
Brigitte C Madrian (Regulatory Policy Committee)	$0	$68,382	$0
Elisse B Walter (Chair, Reg Policy Committee)	$0	$101,160	$0
Ethiopis Tafara (Regulatory Policy Committee)	$0	$0	$0
Hilary A Sale (Regulatory Policy Committee)	$0	$90,360	$0
John B Ehnes (Regulatory Policy Committee)	$0	$95,180	$0
Joshua S Levine (Regulatory Policy Committee)	$0	$100,707	$0
Kathleen A Murphy (Regulatory Policy Committee)	$0	$100,360	$0
Leslie F Seidman (Regulatory Policy Committee)	$0	$81,947	$0
Paige W Pierce (Board Member)	$0	$90,360	$0
Robert A Muh (Regulatory Policy Committee)	$0	$68,325	$0
Stephen A Kohn (Regulatory Policy Committee)	$0	$90,707	$0
Susan Wolburgh Jenah (Regulatory Policy Committee)	$0	$100,676	$0
Timothy C Scheve (Regulatory Policy Committee)	$0	$90,360	$0
William H Heyman (Regulatory Policy Committee)	$0	$141,838	$0
Bari M Havlik (Executive Vice President)	$0	$959,904	$170,539
Marcia E Asquith (Evp, Board & External Relations)	$0	$1,062,265	$227,038
Richard W Berry (Exective Vice President)	$0	$622,342	$435,279
Robert Ld Colby (Evp And Chief Legal Officer)	$0	$1,110,910	$52,382
Susan M Schroeder (Executive Vice President)	$0	$867,437	$160,291
Thomas R Gira (Executive Vice President)	$0	$929,328	$971,408
Todd T Diganci (Executive Vice President/Cfao)	$0	$1,284,111	$1,379,082
Carlo V Di Florio (Executive Vice President)	$0	$1,156,199	$68,034
Derek W Linden (Executive Vice President)	$0	$706,792	$456,129
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990

Filed on Nov. 16, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$818,795,285

Expenses

$664,455,500

Net Income

$154,339,785

Net Assets

-$102,095,959

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$818,670,022	100.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$125,263	0.0%
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	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$49,311,804
Total Liabilities	$151,407,763
Net Assets	-$102,095,959

Compensation

Key Employees and Officers	Compensation	Related	Other
Elisse B Walter (Chair, Reg Policy Committee)	$0	$91,530	$0
Stephen M Cutler Thru 318 (Regulatory Policy Committee)	$0	$0	$0
John B Ehnes As Of 818 (Regulatory Policy Committee)	$0	$42,665	$0
William H Heyman (Regulatory Policy Committee)	$0	$118,684	$0
Susan Wolburgh Jenah (Regulatory Policy Committee)	$0	$90,859	$0
Stephan A Kohn (Regulatory Policy Committee)	$0	$83,128	$0
Brian J Kovack (Regulatory Policy Committee)	$0	$82,734	$0
Joshua S Levine (Regulatory Policy Committee)	$0	$85,559	$0
Brigitte C Madrian (Regulatory Policy Committee)	$0	$82,734	$0
Robert A Muh (Regulatory Policy Committee)	$0	$85,338	$0
Kathleen A Murphy (Regulatory Policy Committee)	$0	$90,694	$0
Joseph Rv Romano Thru 818 (Regulatory Policy Committee)	$0	$60,760	$0
Hillary A Sale (Regulatory Policy Committee)	$0	$83,664	$0
Timothy C Scheve As Of 418 (Regulatory Policy Committee)	$0	$42,665	$0
Leslie F Seidman (Regulatory Policy Committee)	$0	$98,684	$0
Robert W Cook (President & Ceo)	$0	$2,358,157	$522,215
Todd T Diganci (Executive Vice President/Cfao)	$0	$1,424,690	$149,244
Marcia A Asquith (Evp, Board & External Relatios)	$0	$750,633	$149,415
Susan F Axelrod (Executive Vice President)	$0	$2,350,790	$26,111
Richard W Berry (Executive Vice President)	$0	$803,556	$52,983
Robert L D Colby (Evp And Chief Legal Officer)	$0	$1,047,722	$74,967
Thomas R Gira (Executive Vice President)	$0	$866,165	$57,515
Bari M Havlik As Of 918 (Executive Vice President)	$0	$492,135	$55,544
Susan M Schroeder As Of 918 (Executive Vice President)	$0	$806,717	$158,621
Carlo Di Florio (Executive Vice President)	$0	$667,983	$175,648
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990

Filed on Nov. 15, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$792,133,612

Expenses

$663,310,439

Net Income

$128,823,173

Net Assets

-$91,090,858

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$791,969,260	100.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$164,352	0.0%
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	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$58,676,126
Total Liabilities	$149,766,984
Net Assets	-$91,090,858

Compensation

Key Employees and Officers	Compensation	Related	Other
Elisse B Walter (Chair, Reg Policy Committee)	$0	$88,691	$0
John J Brennan Thru 822 (Regulatory Policy Committee)	$0	$85,235	$0
Mark W Cresap Thru 822 (Regulatory Policy Committee)	$0	$60,122	$0
Stephen M Cutler (Regulatory Policy Committee)	$0	$0	$0
William H Heyman (Regulatory Policy Cmte Part Yr)	$0	$56,967	$0
Stephen A Kohn (Regulatory Policy Cmte Part Yr)	$0	$75,717	$0
Brian J Kovack (Regulatory Policy Cmte Part Yr)	$0	$80,197	$0
Joshua S Levine (Regulatory Policy Cmte Part Yr)	$0	$80,229	$0
Brigitte C Madrian (Regulatory Policy Committee)	$0	$80,200	$0
Robert A Muh (Regulatory Policy Committee)	$0	$82,516	$0
Kathleen A Murphy (Regulatory Policy Committee)	$0	$80,200	$0
Randal K Quarles Thru 109 (Regulatory Policy Committee)	$0	$68,505	$0
Joseph Rv Romano (Regulatory Policy Committee)	$0	$80,265	$0
Hillary A Sale (Regulatory Policy Committee)	$0	$80,781	$0
Leslie F Seidman (Regulatory Policy Committee)	$0	$95,834	$0
Susan Wolburgh Jenah (Regulatory Policy Committee)	$0	$85,794	$0
Robert W Cook (President & Ceo)	$0	$1,008,615	$442,908
Todd T Diganci (Executive Vice President/Cfao)	$0	$1,291,897	$185,458
Marcia E Asquith (Evp & Corporate Secretary)	$0	$703,414	$137,476
Susan F Axelrod (Executive Vice President)	$0	$910,537	$1,765,406
Richard W Berry (Executive Vice President)	$0	$613,953	$163,962
Robert L D Colby (Evp And Chief Legal Officer)	$0	$1,236,628	$64,515
Thomas R Gira (Executive Vice President)	$0	$913,435	$105,822
Richard G Ketchum Fmr (President & Ceo)	$0	$937,500	$3,650
J Bradley Bennett (Executive Vice President)	$0	$540,000	$17,934
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990

Filed on Nov. 15, 2018

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Fiscal Year Ending Dec.
2016

Revenue

$917,521,328

Expenses

$704,341,069

Net Income

$213,180,259

Net Assets

-$108,796,134

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$917,521,328	100%
Investment Income	$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	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$49,679,223
Total Liabilities	$158,475,357
Net Assets	-$108,796,134

Compensation

Key Employees and Officers	Compensation	Related	Other
John J Brennan (Regulatory Policy Committee)	$0	$113,421	$0
Mark W Cresap (Regulatory Policy Committee)	$0	$80,704	$0
Gregory J Fleming Thru 12616 (Regulatory Policy Committee)	$0	$0	$0
Susan Wolburgh Jenah (Regulatory Policy Committee)	$0	$80,178	$0
Brigitte C Madrian (Regulatory Policy Committee)	$0	$80,255	$0
Robert A Muh (Regulatory Policy Committee)	$0	$42,202	$0
Kathleen A Murphy (Regulatory Policy Committee)	$0	$80,190	$0
Randal K Quarles (Regulatory Policy Cmte Part Yr)	$0	$86,911	$0
Joseph Romano (Regulatory Policy Committee)	$0	$80,687	$0
Hillary Sale (Regulatory Policy Committee)	$0	$75,100	$0
Leslie F Seidman (Regulatory Policy Committee)	$0	$87,863	$0
Elisse B Walter (Chair, Regulatory Policy Cmte)	$0	$87,975	$0
Robert W Cook (President & Ceo)	$0	$348,888	$93,424
Richard G Ketchum (President & Ceo Thru 8/14/16)	$0	$2,679,262	$86,547
Todd T Diganci (Executive Vice President $ Cfo)	$0	$1,340,176	$159,204
Marcia E Asquith (Evp & Corporate Secretary)	$0	$738,994	$83,536
Susan F Axelrod (Executive Vice President)	$0	$1,265,912	$88,643
Richard W Berry (Executive Vice President)	$0	$634,491	$145,951
Robert L D Colby (Evp And Chief Legal Officer)	$0	$1,042,063	$160,936
Thomas R Gira (Executive Vice President)	$0	$2,834,760	$96,780
F Gregory Ahern (Executive Vice President)	$0	$1,372,916	$60,107
J Bradley Bennett (Evp And Chief Legal Officer)	$0	$1,249,950	$37,064
Carlo Di Florio (Executive Vice President)	$0	$1,038,245	$74,364
Steven A Joachim (Executive Vice President)	$0	$1,078,536	$113,852
Tracy B Johnson (Senior Vice President)	$0	$785,310	$40,464
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990

Filed on Nov. 13, 2017

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Fiscal Year Ending Dec.
2015

Revenue

$853,552,682

Expenses

$624,652,739

Net Income

$228,899,943

Net Assets

-$320,161,386

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$852,947,989	99.9%
Investment Income	$0
Bond Proceeds	$0
Royalties	$604,693	0.1%
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	$4,766,641	0.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$320,182,604	51.3%

Assets/Debt
Total Assets	$70,273,653
Total Liabilities	$390,435,039
Net Assets	-$320,161,386

Provided first-class or charter travel

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Susan F Axelrod (Executive Vice President)	$946,967	$0	$181,756
J Bradley Bennett (Executive Vice President)	$928,987	$0	$135,435
Thomas R Gira (Executive Vice President)	$923,229	$0	$89,771
Cameron K Funkhouser (Executive Vice President)	$794,088	$0	$91,200
Gene Demaio (Senior Vice President)	$793,286	$0	$61,809
Daniel Sibears (Executive Vice President)	$786,654	$0	$124,846
Michael Rufino (Executive Vice President)	$754,609	$0	$150,176
John Malitzis (Executive Vice President)	$727,525	$0	$147,238
Thomas M Selman (Executive Vice President)	$725,815	$0	$78,492
Derek W Linden (Executive Vice President)	$700,806	$0	$86,745
W Dennis Ferguson (Chair, Reg Policy Cmte Part Yr)	$0	$66,575	$0
Elisse B Walter (Chair, Reg Policy Cmte Part Yr)	$0	$82,421	$0
Kevin Carreno (Regulatory Policy Cmte Part Yr)	$0	$60,533	$0
Mark S Casady (Regulatory Policy Cmte Part Yr)	$0	$60,726	$0
Mark W Cresap (Regulatory Policy Cmte Part Yr)	$0	$80,929	$0
Gregory J Fleming (Regulatory Policy Committee)	$0	$0	$0
Susan Wolburgh Jenah (Regulatory Policy Committee)	$0	$80,259	$0
Brigitte C Madrian (Regulatory Policy Committee)	$0	$80,349	$0
Kathleen A Murphy (Regulatory Policy Cmte Part Yr)	$0	$40,150	$0
Richard S Pechter (Regulatory Policy Cmte Part Yr)	$0	$66,309	$0
Randal K Quarles (Regulatory Policy Cmte Part Yr)	$0	$40,150	$0
Joseph Romano (Regulatory Policy Cmte Part Yr)	$0	$40,816	$0
Leslie F Seidman (Regulatory Policy Cmte Part Yr)	$0	$80,385	$0
Joel Seligman (Regulatory Policy Cmte Part Yr)	$0	$60,544	$0
James D Weddle (Regulatory Policy Cmte Part Yr)	$0	$88,072	$0
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990

Filed on Nov. 8, 2016

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Fiscal Year Ending Dec.
2014

Revenue

$852,977,571

Expenses

$598,987,743

Net Income

$253,989,828

Net Assets

-$392,066,791

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$852,600,052	100.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$377,519	0.0%
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	$5,201,351	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$303,381,238	50.6%

Assets/Debt
Total Assets	$50,581,527
Total Liabilities	$442,648,318
Net Assets	-$392,066,791

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Carlotta A Romano (Senior Vice President)	$1,131,381	$0	$421,682
Gary K Liebowitz (Senior Vice President)	$1,029,744	$0	$203,131
J Bradley Bennett (Executive Vice President)	$928,686	$0	$128,011
Susan F Axelrod (Executive Vice President)	$919,163	$0	$176,566
Thomas R Gira (Executive Vice President)	$895,226	$0	$123,507
Michael Solomon (Senior Vice President)	$791,717	$0	$60,417
Cameron K Funkhouser (Executive Vice President)	$784,836	$0	$75,024
Daniel Sibears (Executive Vice President)	$771,555	$0	$104,402
Thomas M Selman (Executive Vice President)	$718,424	$0	$71,202
Derek W Linden (Executive Vice President)	$688,961	$0	$85,045
Grace B Vogel (Executive Vice President)	$521,841	$0	$4,623
W Dennis Ferguson (Chair, Reg Policy Cmte Part Yr)	$0	$82,667	$0
Harvey J Goldschmid (Chair, Reg Policy Cmte Part Yr)	$0	$66,280	$0
Charles A Bowsher (Regulatory Policy Committee)	$0	$61,965	$0
Kevin Carreno (Regulatory Policy Committee)	$0	$80,223	$0
Mark S Casady (Regulatory Policy Committee)	$0	$80,504	$0
Gregory J Fleming (Regulatory Policy Committee)	$0	$0	$0
Brigitte C Madrian (Regulatory Policy Committee)	$0	$80,150	$0
Ken Norensberg (Regulatory Policy Committee)	$0	$60,834	$0
Richard S Pechter (Regulatory Policy Committee)	$0	$87,771	$0
John W Schmidlin (Regulatory Policy Committee)	$0	$80,785	$0
Joel Seligman (Regulatory Policy Committee)	$0	$80,498	$0
Gary H Stern (Regulatory Policy Committee)	$0	$41,018	$0
Kurt P Stocker (Regulatory Policy Committee)	$0	$63,335	$0
Elisse B Walter (Regulatory Policy Committee)	$0	$40,220	$0
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990

Filed on Nov. 11, 2015

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2013

Revenue

$756,743,585

Expenses

$659,177,648

Net Income

$97,565,937

Net Assets

-$349,108,889

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$756,384,367	100.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$359,218	0.0%
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	$5,734,873	0.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$310,867,256	47.2%

Assets/Debt
Total Assets	$48,496,583
Total Liabilities	$397,605,472
Net Assets	-$349,108,889

Provided first-class or charter travel

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Thomas M Selman (Executive Vice President)	$1,779,519	$0	$68,255
Cameron K Funkhouser (Executive Vice President)	$1,361,786	$0	$73,122
J Bradley Bennett (Executive Vice President)	$1,188,462	$0	$36,568
Grace B Vogel (Executive Vice President)	$1,173,889	$0	$69,338
Susan F Axelrod (Executive Vice President)	$1,091,066	$0	$69,601
Emily P Gordy (Senior Vice President)	$996,792	$0	$69,794
John F Malitzis (Executive Vice President)	$950,936	$0	$49,620
Robert A Marchman (Executive Vice President)	$908,877	$0	$69,422
Thomas R Gira (Executive Vice President)	$854,365	$0	$107,533
Michael G Rufino (Executive Vice President)	$826,696	$0	$70,951
Derek W Linden (Executive Vice President)	$661,222	$0	$80,316
Marc Menchel (Exec Vp And General Counsel)	$177,233	$0	$3,082
Harvey J Goldschmid (Chair, Reg Policy Committee)	$0	$72,500	$0
Jed Bandes (Regulatory Policy Committee)	$0	$45,264	$0
Charles A Bowsher (Regulatory Policy Committee)	$0	$71,899	$0
Kevin Carreno (Regulatory Policy Committee)	$0	$61,628	$0
Mark S Casady (Regulatory Policy Committee)	$0	$65,541	$0
W Dennis Ferguson (Regulatory Policy Committee)	$0	$72,229	$0
Dr Shirley Ann Jackson (Regulatory Policy Committee)	$0	$32,597	$0
Ken Norensberg (Regulatory Policy Committee)	$0	$66,143	$0
Richard S Pechter (Regulatory Policy Committee)	$0	$76,477	$0
John W Schmidlin (Regulatory Policy Committee)	$0	$69,254	$0
Joel Seligman (Regulatory Policy Committee)	$0	$65,613	$0
Gary H Stern (Regulatory Policy Committee)	$0	$68,757	$0
Kurt P Stocker (Regulatory Policy Committee)	$0	$71,439	$0
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990

Filed on Nov. 17, 2014

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2012

Revenue

$722,631,532

Expenses

$789,563,273

Net Income

-$66,931,741

Net Assets

-$445,417,313

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$722,575,229	100.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$129,755	0.0%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$73,452
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$7,994,659	1.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$321,465,262	40.7%

Assets/Debt
Total Assets	$33,863,456
Total Liabilities	$479,280,769
Net Assets	-$445,417,313

990

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$715,973,148

Expenses

$803,865,842

Net Income

-$87,892,694

Net Assets

-$399,301,381

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$715,806,211	100.0%
Investment Income	$0
Bond Proceeds	$0
Royalties	$166,937	0.0%
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	$8,596,071	1.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$291,215,656	36.2%

Assets/Debt
Total Assets	$19,407,982
Total Liabilities	$418,709,363
Net Assets	-$399,301,381

990

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

PDF

PDF (2 of 2)

Fiscal Year Ending Dec.
2005

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

Fiscal Year Ending Dec.
2004

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

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

PDF

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 April 12, 2024

Finra Regulation Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $1.04B (2022)

Expenses $693M (2022)

Total Assets $31M (2022)

Total Liabilities $149M (2022)

Tax Filings by Year

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2011

Extracted Financial Data

Extracted Financial Data from Form 990

Revenue

$1.04B (2022)

Expenses

$693M (2022)

Total Assets

$31M (2022)

Total Liabilities

$149M (2022)

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004