Michael Payne
The data on this page comes from a financial disclosure filed by Michael Payne, who was picked to be: Director of Cost Assessment and Program Evaluation, Department of Defense. It is part of a collection of thousands of ethics documents ProPublica has been collecting from across the Trump administration.
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)
| Description | Value | Income | Income Type | Endnote | Line No. |
|---|---|---|---|---|---|
| IRA #1 | 1 | ||||
| American Funds Bond Fund of America A (ABNDX) | $1,001 - $15,000 | None (or less than $201) | 1.1 | ||
| American Funds Intermediate Bond Fund of America Class A Shares (AIBAX) | $1,001 - $15,000 | None (or less than $201) | 1.2 | ||
| American Funds EuroPacific Growth Fund Class A Shares (AEPGX) | $15,001 - $50,000 | None (or less than $201) | 1.3 | ||
| American Funds SMALLCAP World Fund, Inc Class A Shares (SMCWX) | $15,001 - $50,000 | None (or less than $201) | 1.4 | ||
| American Funds Washington Mutual Investors Fund Class A Shares (AWSHX) | $50,001 - $100K | None (or less than $201) | 1.5 | ||
| American Funds Growth Fund of America Class A Shares (AGTHX) | $50,001 - $100K | None (or less than $201) | 1.6 | ||
| IRA #2 | 2 | ||||
| Victory Target Retirement 2040 (URFRX) | $50,001 - $100K | None (or less than $201) | 2.1 |
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. |
|---|---|---|---|---|---|
| Instructional Coach - Holy Spirit Catholic School | Salary | 1 | |||
| TIAA 403b - St James School, Montgomery AL | 2 | ||||
| CREF Stock - R1 QCSTRX | $15,001 - $50,000 | None (or less than $201) | Inactive since 1993 | 2.1 | |
| CREF Money Market - R1 QCMMRX | $1,001 - $15,000 | None (or less than $201) | Inactive since 1993 | 2.2 | |
| Empower (formerly Prudential) 403b - Catholic Diocese of Arlington | 3 | ||||
| TRowe Price Cap Appreciation I | $15,001 - $50,000 | None (or less than $201) | 3.1 | ||
| JPMorgan Large Cap Growth Fund Class R6 Shares (JLGMX) | $100K - $250K | None (or less than $201) | 3.2 | ||
| PGIM Quant Solutions Large-Cap Index R6 | $100K - $250K | None (or less than $201) | 3.3 | ||
| T.Rowe Price Diversified Mid Cap Gr I | $50,001 - $100K | None (or less than $201) | 3.4 | ||
| IRA | 4 | ||||
| Vanguard Federal Money Market Fund Investor Shares (VMFXX) | $15,001 - $50,000 | None (or less than $201) | 4.1 | ||
| Catholic Diocese of Arlington VA, defined benefit plan (value not readily ascertainable) | None (or less than $201) | 5 |
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. Bank (Cash) | $100K - $250K | $201 - $1,000 | Interest | 1 | |
| BROKERAGE ACCOUNT | 2 | ||||
| Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) | $15,001 - $50,000 | None (or less than $201) | 2.1 | ||
| Vanguard 500 Index Fund Admiral Shares (VFIAX) | $50,001 - $100K | None (or less than $201) | 2.2 | ||
| Vanguard Federal Money Market Fund Investor Shares (VMFXX) | $1,001 - $15,000 | None (or less than $201) | 2.3 |
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)
| Creditor | Description | Endnote | Line No. |
|---|---|---|---|
| Rocket Mortgage | type: Mortgage on Personal Residence, amount: $100,001 - $250,000, year-incurred: 2010, rate: 4.875%, term: 30 years | 1 |
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.
