2024-09-11T11:31:00-05:00 2023-10-31 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2022-11-01 521087193 SIFMA FOUNDATION FOR INVESTOR EDUCATION (FIE) INC SIFM 2123131371 140 BROADWAY 35TH FLOOR NEW YORK NY 10005 MELANIE MORTIMER PRESIDENT 2123131371 2024-09-11 1 1 DANIEL ROMANO P00504182 2125990100 2022 2024-08-08 14:25:15Z MELANIE MORTIMER 140 BROADWAY 35TH FLOOR NEW YORK NY 10005 5420941 0 X WWW.SIFMA.ORG/ABOUT/SIFMA-FOUNDATION X 1976 DE SEE SCHEDULE O 18 18 14 16386 0 0 3287504 4609074 336250 364345 207184 253874 0 0 3830938 5227293 15500 1500 0 0 2531557 3307365 0 0 243683 1596689 2041983 4143746 5350848 -312808 -123555 10117880 10295181 768468 784448 9349412 9510733 X THE SIFMA FOUNDATION FOSTERS KNOWLEDGE AND UNDERSTANDING OF THE FINANCIAL MARKETS FOR INDIVIDUALS OF ALL BACKGROUNDS. (CONTINUED ON SCHEDULE O)DRAWING ON THE SUPPORT AND EXPERTISE OF THE FINANCIAL INDUSTRY AND EDUCATORS, THE SIFMA FOUNDATION'S ACCLAIMED FINANCIAL EDUCATION PROGRAMS AND TOOLS STRENGTHEN ECONOMIC OPPORTUNITY ACROSS COMMUNITIES AND INCREASE INDIVIDUALS' AWARENESS OF AND ACCESS TO THE BENEFITS OF THE GLOBAL MARKETPLACE. THE SIFMA FOUNDATION FILLS CRITICAL GAPS IN FINANCIAL EDUCATION FOR SCHOOLS, COMMUNITIES AND FAMILIES; ADVANCES ECONOMIC EQUITY FOR YOUTH OF ALL BACKGROUNDS; AND PREPARES THE FUTURE WORKFORCE. THOUSANDS OF INDUSTRY EXPERTS VOLUNTEER EACH YEAR WITH SIFMA FOUNDATION PROGRAMS TO SHARE THEIR REAL-WORLD INSIGHTS ON PERSONAL FINANCE, WORKFORCE READINESS, AND FINANCIAL CAREERS. 0 0 4548317 1500 364345 SEE SCHEDULE OTHE STOCK MARKET GAME (TM)THE SIFMA FOUNDATION'S FLAGSHIP INITIATIVE, THE STOCK MARKET GAME (TM), IS A CURRICULUM BASED FINANCIAL EDUCATION PROGRAM THAT VIRTUALLY SIMULATES GLOBAL CAPITAL MARKETS TO ENGAGE YOUTH IN THE WORLD OF ECONOMICS, INVESTING AND PERSONAL FINANCE, AND PREPARES THEM FOR FINANCIALLY INDEPENDENT FUTURES. MORE THAN 600,000 YOUTH TAKE PART EVERY YEAR ACROSS ALL 50 STATES. THE STOCK MARKET GAME HAS REACHED MORE THAN 23 MILLION SINCE ITS INCEPTION IN 1977.INVESTWRITE (R)THE SIFMA FOUNDATION'S INVESTWRITE (R) NATIONAL ESSAY COMPETITION EXTENDS WHAT YOUTH LEARN IN THE STOCK MARKET GAME BY CHALLENGING THEM TO CONSIDER A LONG-TERM INVESTMENT SCENARIO AND PROPOSE ANALYST-STYLE PORTFOLIO RECOMMENDATIONS. PARTICIPANTS USE RESEARCH, CRITICAL THINKING, AND WRITING SKILLS TO ADDRESS REAL WORLD FINANCIAL ISSUES AND CURRENT EVENTS. A NEW THEME AND QUESTION ARE POSED EACH SEMESTER. SINCE THE PROGRAM BEGAN IN 2004, MORE THAN 260,000 ESSAYS HAVE BEEN WRITTEN IN CLASSROOMS ACROSS THE COUNTRY AND ALMOST 50,000 FINANCIAL PROFESSIONALS HAVE VOLUNTEERED TO SERVE AS JUDGES IN THE WRITING COMPETITION.CAPITOL HILL CHALLENGE (TM)THE SIFMA FOUNDATION'S ANNUAL CAPITOL HILL CHALLENGE (TM) (CHC), PRESENTED BY THE CHARLES SCHWAB FOUNDATION, IS A NATIONAL FINANCIAL EDUCATION COMPETITION FOR UNDERSERVED JUNIOR HIGH AND HIGH SCHOOLS THAT REACHES ALL 50 US STATES AND THEIR MEMBERS OF CONGRESS IN EVERY US CONGRESSIONAL DISTRICT. CHC ENHANCES PARTICIPANTS' FINANCIAL AND CIVICS EDUCATION THROUGH MATCHING MEMBERS OF CONGRESS WITH STUDENTS, TEACHERS, AND SCHOOLS COMPETING IN THE STOCK MARKET GAME (TM) IN THEIR RESPECTIVE DISTRICT OR STATE. STUDENT TEAMS MANAGE A HYPOTHETICAL $100,000 ONLINE PORTFOLIO AND INVEST IN REAL STOCKS, BONDS, AND MUTUAL FUNDS. SINCE ITS INCEPTION IN 2004, CHC HAS MADE ALMOST 7,500 MATCHES OF U.S. REPRESENTATIVES AND SENATORS WITH SCHOOLS, ENCOMPASSING MORE THAN 170,000 STUDENTS ACROSS THE COUNTRY.INVEST IT FORWARD (R)INVEST IT FORWARD (R) IS AN AWARD-WINNING INDUSTRY-WIDE FINANCIAL EDUCATION AND CAPITAL MARKETS LITERACY CAMPAIGN CONVENING HUNDREDS OF FINANCIAL FIRMS TO FOSTER CAREER EXPLORATION AND INDUSTRY PARTNERSHIPS FOR YOUTH AND EDUCATORS. VOLUNTEERS FROM THE PRIVATE SECTOR PARTNER WITH SCHOOLS TO EXPOSE YOUTH TO NEW CAREER PATHWAYS AND DEEPEN THEIR UNDERSTANDING OF THE FINANCIAL SECTOR AND OPPORTUNITIES. INVEST IT FORWARD IS DESIGNED TO HELP YOUNG PEOPLE UNDERSTAND HOW TO HARNESS THE CAPITAL MARKETS FOR THEIR OWN BENEFIT AND OPEN UP NEW OPPORTUNITIES FOR THEIR FUTURES. 4548317 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 17 0 1 14 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 18 18 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X NAM KIM 2123131371 140 BROADWAY 35TH FLOOR NEW YORK NY 10005 RICHARD J DALY CHAIR 2.00 0.00 X X 0 0 0 LAWRENCE THOMAS VICE-CHAIR 2.00 0.00 X X 0 0 0 LISA KIDD HUNT VICE-CHAIR 2.00 0.00 X X 0 0 0 TODD DIGANCI TREASURER 1.50 0.00 X X 0 0 0 JAMES ALLEN DIRECTOR 1.00 0.00 X 0 0 0 JAMES ANDERSON DIRECTOR 1.00 0.00 X 0 0 0 LISA BLEIER DIRECTOR (AS OF 10/2022) 1.00 0.00 X 0 0 0 KENNETH CELLA DIRECTOR 1.00 0.00 X 0 0 0 BRYAN CHRISTIAN DIRECTOR 1.00 0.00 X 0 0 0 VANESSA COOKSEY DIRECTOR 1.00 0.00 X 0 0 0 DAVID DAWKINS DIRECTOR 1.00 0.00 X 0 0 0 RUPA DHARIA DIRECTOR (THRU 08/2023) 1.00 0.00 X 0 0 0 VLAD KHANDROS DIRECTOR 1.00 0.00 X 0 0 0 KRISTEN KIMMELL DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL KISBER DIRECTOR 1.00 0.00 X 0 0 0 EVAN LAHUTA DIRECTOR 1.00 0.00 X 0 0 0 SHAREEN LUZE DIRECTOR 1.00 0.00 X 0 0 0 JOSEPH E SWEENEY DIRECTOR 1.00 0.00 X 0 0 0 SUSAN THEDER DIRECTOR 1.00 0.00 X 0 0 0 MELANIE MORTIMER PRESIDENT, SECRETARY 40.00 0.00 X 418214 0 56720 ELIZABETH REIDEL MANAGING DIRECTOR 40.00 0.00 X 206688 0 75319 MICHELLE NOGUCHI VICE PRESIDENT 40.00 0.00 X 185930 0 42312 BENJAMIN SAWYER MANAGING DIRECTOR 40.00 0.00 X 188569 0 17357 NANCY KAHN VICE PRESIDENT 40.00 0.00 X 166608 0 57805 VINCENT YOUNG ASSISTANT VICE PRESIDENT 40.00 0.00 X 132162 0 70208 1298171 0 319721 9 0 1 1 THE PATRICK COLLINS GROUP LLC 201 WEST STREET LAINGSBURG MI 48848 CONSULTING 172696 1 1257323 3351751 4609074 SMG PROCESSING FEE 611710 364345 364345 364345 253874 253874 193648 1257323 193648 0 5227293 364345 0 253874 X 1500 1500 494611 222575 222575 49461 2187300 1821447 221138 144715 196822 186241 6500 4081 260191 172595 58667 28929 168441 133747 22120 12574 23310 23310 653287 653287 25116 22371 2745 919751 919109 642 22691 22445 172 74 387535 383092 594 3849 DUES & REGISTRATION 6603 6523 80 SUBSCRIPTION AND BOOKS 2398 2093 305 MISC. EXPENSES 1292 1292 5350848 4548317 558848 243683 194395 331468 411018 350288 608500 1525783 8894314 8062238 9653 25404 10117880 10295181 246724 213330 521744 571118 768468 784448 X 9016078 8329781 333334 1180952 9349412 9510733 10117880 10295181 -123555 284876 0 X 0 1 X 1 0 X 2703153 3981426 3203925 3287504 4609074 17785082 2703153 3981426 3203925 3287504 4609074 17785082 5262542 12522540 219486 197188 149497 207184 253874 1027229 160630 199 133306 101813 193648 589596 19401907 1777021 0.64540 0.67820 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING - 2018 AMOUNT: $ 160,560. 2019 AMOUNT: $ 199. 2020 AMOUNT: $ 133,306. 2021 AMOUNT: $ 101,813. 2022 AMOUNT: $ 193,648. OTHER - 2018 AMOUNT: $ 70. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO SIFMA 571118 571118 X 5974169 284876 462000 746876 5227293 0 5227293 5812848 462000 462000 5350848 0 5350848 PART X, LINE 2: THE FOUNDATION FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE"), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE FOUNDATION HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE FOUNDATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. TRIBUTE DINNER 1450971 1257323 193648 193648 1450971 1257323 193648 193648 193648 0 X X X X 0 0 0 0 0 0 0 1 0 MELANIE MORTIMER PRESIDENT, SECRETARY 332524 0 83758 0 1932 0 36600 0 20120 0 474934 0 0 0 ELIZABETH REIDEL MANAGING DIRECTOR 177898 0 27800 0 990 0 26135 0 49184 0 282007 0 0 0 MICHELLE NOGUCHI VICE PRESIDENT 166776 0 16500 0 2654 0 22612 0 19700 0 228242 0 0 0 NANCY KAHN VICE PRESIDENT 140577 0 21000 0 5031 0 20382 0 37423 0 224413 0 0 0 BENJAMIN SAWYER MANAGING DIRECTOR 176148 0 12000 0 421 0 5698 0 11659 0 205926 0 0 0 VINCENT YOUNG ASSISTANT VICE PRESIDENT 111601 0 18600 0 1961 0 17246 0 52962 0 202370 0 0 0 PART I, LINE 7: NON-FIXED PAYMENTS THE BONUS IS BASED ON PERFORMANCE WHICH IS EVALUATED DURING AN ANNUAL EMPLOYEE REVIEW PROCESS THAT IS REVIEWED AND APPROVED BY THE BOARD. FORM 990, PART I, LINE 1 THE SIFMA FOUNDATION IS DEDICATED TO FOSTERING KNOWLEDGE AND UNDERSTANDING OF THE FINANCIAL MARKETS FOR INDIVIDUALS OF ALL BACKGROUNDS. THE FOUNDATION FILLS CRITICAL GAPS IN FINANCIAL EDUCATION FOR SCHOOLS, NONPROFITS, AND FAMILIES; ADVANCES ECONOMIC EQUITY FOR YOUTH OF ALL BACKGROUNDS; AND PREPARES THE FUTURE FINANCIAL WORKFORCE BY CULTIVATING WELL-INFORMED CUSTOMERS, BUSINESS LEADERS, AND DECISION-MAKERS. FORM 990, PART V, LINE 2A: NUMBER OF EMPLOYEES REPORTED ON FORM W-3 THE FOUNDATION'S EMPLOYEES ARE INCLUDED IN THE W-3 FILING OF SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION, AN UNRELATED ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 2 KENNETH CELLA, LISA KIDD HUNT, MICHAEL KISBER, AND JOSEPH E. SWEENEY HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE ACCOUNTING DEPARTMENT OF THE ORGANIZATION PREPARES THE FORM 990 BASED ON AUDITED FINANCIAL INFORMATION. THE DRAFT FORM 990 IS THEN REVIEWED BY MANAGEMENT AND AN EXTERNAL INDEPENDENT ACCOUNTING FIRM. THE AUDIT AND FINANCE COMMITTEE WILL REVIEW THE FINAL DRAFT SIGNED OFF BY THE EXTERNAL INDEPENDENT ACCOUNTING FIRM. THIS REVIEW WILL BE NOTED AS AN AGENDA ITEM AT AN AUDIT AND FINANCE COMMITTEE MEETING AND WILL BE DULY NOTED IN THE MINUTES. THE FORM 990 WILL BE PROVIDED TO ALL VOTING MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT ANY EMPLOYEE IN A POSITION WHERE HIS OR HER OBJECTIVITY MAY BE QUESTIONED BECAUSE OF AN INDIVIDUAL INTEREST, FAMILY OR PERSONAL RELATIONSHIP IS REQUIRED TO NOTIFY GENERAL COUNSEL. SIMILARLY, ANY EMPLOYEE AWARE OF ANY TRANSACTION OR RELATIONSHIP THAT COULD REASONABLY BE EXPECTED TO GIVE RISE TO A PERSONAL CONFLICT OF INTEREST IS REQUIRED TO DISCUSS THE MATTER PROMPTLY WITH GENERAL COUNSEL. IN ADDITION, ONCE EVERY YEAR, DIRECTORS AND ALL EMPLOYEES OF THE FOUNDATION ARE REQUIRED TO REVIEW A COPY OF THE CONFLICT OF INTEREST POLICY AND TO ACKNOWLEDGE IN WRITING THAT HE OR SHE IS COMPLIANT. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION THE EXECUTIVE COMMITTEE AND THE BOARD ACTING AS A COMPENSATION COMMITTEE HIRE CONSULTANTS TO REVIEW COMPARABLE PACKAGES FOR ANY NEW INCOMING EXECUTIVE DIRECTORS. THE CONSULTANT PRESENTS DATA FOR COMPARABLE POSITIONS BOTH LOCALLY AND NATIONALLY, AND THE BOARD'S EXECUTIVE COMMITTEE MAKES THE FINAL DECISIONS FOR THE SALARY PACKAGE. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS TO THE PUBLIC THE FOUNDATION'S AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC VIA THE FOUNDATION'S WEBSITE AND ANY REQUEST FOR GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY WILL BE PROVIDED UPON REQUEST AT MANAGEMENT'S DISCRETION. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 653,287. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 653,287.