Michelle Bowman
The data on this page comes from a financial disclosure filed by Michelle Bowman, who was picked to be: Vice Chair for Supervision, Board of Governors of the Federal Reserve System in February, 2020. It is part of a collection of thousands of ethics documents ProPublica has been collecting from across the Trump administration.
Roles Outside Government
Officials are required to disclose paid or unpaid positions they hold or recently held outside the federal government, including roles as officer, director, trustee or employee. (Form 278e, Part 1)
| Organization | Position held | Endnote | Line No. |
|---|---|---|---|
| family trust | Trustee, 2/2022 - Present | 1 |
Employment Assets
Officials are required to disclose assets associated with their employment, including salary, retirement accounts, stocks, intellectual property and awards or prizes. (Form 278e, Part 2)
Employment Agreements
Officials are required to disclose agreements relating to other jobs, including what will happen with any small businesses they own during government service and any continued health care coverage, planned leaves of absence, severance or bonuses. (Form 278e, Part 3)
| Organization | Agreement | Endnote | Line No. |
|---|---|---|---|
| Farmers & Drovers Bank | I will continue to participate in this defined contribution plan. The plan sponsor no longer makes contributions to the plan. (2010-01-01) | 1 | |
| Kansas Public Employees Retirement System 457 | I will continue to participate in this defined contribution plan. The plan sponsor no longer makes contributions to the plan. (2017-02-01) | 2 |
Spouse’s Assets
Officials are required to disclose their spouse’s assets, including salary and retirement accounts worth more than $1,000. (Form 278e, Part 5)
| Description | Value | Income | Income Type | Endnote | Line No. |
|---|---|---|---|---|---|
| Koch Industries, defined benefit plan (value not readily ascertainable) | None (or less than $201) | 1 | |||
| McKinsey 401k | 2 | ||||
| State Street Global Advisors Target Retirement 2035 Fund | $250K - $500K | None (or less than $201) | 2.1 | ||
| MIO Special Situations fund (underlying assets are not ascertainable) | $500K - $1M | None (or less than $201) | 2.2 | ||
| Koch Industries 401k | 3 | ||||
| Fidelity Freedom Index 2035 Commingled Pool Class C | $50,001 - $100K | None (or less than $201) | 3.1 | ||
| Fidelity Freedom Index 2040 Commingled Pool Class C | $100K - $250K | None (or less than $201) | 3.2 | ||
| JPM UK Pension | 4 | ||||
| Partners Group Generation Fund | $1,001 - $15,000 | None (or less than $201) | 4.1 | ||
| Nordea Diversified Returns Strategy Fund | $15,001 - $50,000 | None (or less than $201) | 4.2 | ||
| LGIM Diversified Fund | $15,001 - $50,000 | None (or less than $201) | 4.3 | ||
| Baillie Gifford Sustainable Multi-Asset Fund | $1,001 - $15,000 | None (or less than $201) | 4.4 | ||
| Berenberg Managed Volatility Equity Fund | $1,001 - $15,000 | None (or less than $201) | 4.5 | ||
| Berenberg Limited Volatility Equity Fund | $1,001 - $15,000 | None (or less than $201) | 4.6 | ||
| LGIM Private Markets Access | $1,001 - $15,000 | None (or less than $201) | 4.7 | ||
| LGIM Pre-Retirement Annuity Fund | $1,001 - $15,000 | None (or less than $201) | 4.8 | ||
| JPM UK Liquidity | $1,001 - $15,000 | None (or less than $201) | 4.9 | ||
| IRA Rollover | 5 | ||||
| Apple Stock | $250K - $500K | None (or less than $201) | 5.1 | ||
| ISHARES CORE S&P TOTAL U S STOCK MARKET ETF | $1,001 - $15,000 | None (or less than $201) | 5.2 | ||
| Stand Together Chamber of Commerce | Salary/Bonus | 6 | |||
| Stand Together 401k | 7 | ||||
| State Street Target Retirement 2035 SL Class IV | $100K - $250K | None (or less than $201) | 7.1 | ||
| HSA: U.S. bank (cash) | None (or less than $1,001) | $8,395 | cash distribution | 8 |
Other Assets and Income
Officials are required to disclose other assets and sources of investment income belonging to them, their spouse or their dependent children. These include annuities, bonds, cash, college savings plans, farms, precious metals, real estate, stocks, trusts and wills. (Form 278e, Part 6)
| Description | Value | Income | Income Type | Endnote | Line No. |
|---|---|---|---|---|---|
| U.S. Credit Union Cash Accounts | $15,001 - $50,000 | $201 - $1,000 | Interest | 1 | |
| U.S. bank cash accounts #1 | $1,001 - $15,000 | None (or less than $201) | 2 | ||
| U.S. Brokerage account | 3 | ||||
| Apple Stock | $100K - $250K | $201 - $1,000 | Dividends | 3.1 | |
| IBM Stock | $1,001 - $15,000 | None (or less than $201) | 3.2 | ||
| US Savings Bonds (Series E, EE) | $1,001 - $15,000 | None (or less than $201) | 4 | ||
| U.S. bank cash account #1 | $1,001 - $15,000 | None (or less than $201) | 5 | ||
| U.S. bank cash account #4 | $1,001 - $15,000 | None (or less than $201) | 6 | ||
| U.S. bank cash accounts #2 | $1,001 - $15,000 | None (or less than $201) | 7 | ||
| family trust | $1M - $5M | None (or less than $201) | I have a 1/2 remainder interest in the trust. The current value of the trust is reported. | 8 | |
| Residential Real Estate, Council Grove, Kansas | 8.1 | ||||
| Farmland/Undeveloped Land, Council Grove, Kansas | Prior years listed this as two lines but the farmland and the undeveloped land are not severable, so they are now combined in one line. | 8.2 | |||
| U.S. Bank #3 (cash accounts) | $1,001 - $15,000 | $201 - $1,000 | Interest | 9 | |
| U.S. bank #2 (cash accounts) | $1,001 - $15,000 | None (or less than $201) | 10 |
Transactions
Officials are required to disclose the purchase, sale or exchange of property or securities in excess of $1,000. Many top officials are required to file periodic transaction reports (278-T) within 45 days to disclose additional actions. This table combines transactions from regularly scheduled financial disclosures and periodic transaction reports. If the same transaction appears on multiple reports, we’re only showing it once. (Form 278e, Part 7 and Form 278-T)
| Description | Value | Transaction | Endnote | Line No. |
|---|---|---|---|---|
| Berenberg Limited Volatility Equity (Quarterly) | $1,001 - $15,000 |
 | Custodian-driven rebalancing triggered by my spouse's proximity to retirement. | 1 |
| LGIM Diversified (Quarterly) | $1,001 - $15,000 |
| Custodian-driven rebalancing triggered by my spouse's proximity to retirement. | 2 |
| JPM UK Liquidity (Quarterly) | $1,001 - $15,000 |
| Custodian-driven rebalancing triggered by my spouse's proximity to retirement. | 3 |
Liabilities
Officials are required to disclose their liabilities totaling more than $10,000, as well as any linked to their spouse or dependent children. These include mortgages, credit card debt and student loans. The interest rates and loan repayment terms are also required. (Form 278e, Part 8)
About the Data
Most political appointees and senior officials in the executive branch are required by law to file public financial disclosure reports. These are documents that detail their financial holdings, positions they hold outside government, their spouse’s holdings, their liabilities and their recent financial transactions (such as buying or selling stock) during a defined reporting period.
The most senior officials file their disclosures with an agency called the Office of Government Ethics, and others file them with a designated ethics official within their agency. The Ethics in Government Act allows members of the public and the press to request these documents.
We’re publishing this information to give the public an important glimpse into the financial ties of a powerful and often hidden cadre of presidential appointees within the federal bureaucracy.
The main document type included in the database is the OGE Form 278e, which appointees must file when they are nominated (for Senate-confirmed appointees) or when they enter government (all others), and then annually while in the position. Another common document included is the OGE Form 278-T, also known as a periodic transaction report, which all public filers must submit within 30 days of a transaction. We are also making other ethics documents available, such as ethics agreements, certificates of divestiture and other documents we have obtained under the Ethics in Government Act.
