Financial Industry Regulatory Authority Inc (EIN 530088710) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1936

Legal Domicile

Phone

2027288949

Tax Period

2023-01-01 to 2023-12-31

Financial Industry Regulatory Authority Inc, founded in 1936, is a large national nonprofit that reported $1.6B in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $2.1B exceeded revenue, resulting in a 28% operating deficit.

Mission

FINRA IS DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $856,349,823

Investment Income $61,714,723

Other Revenue $686,188,808

TOTAL REVENUE $1,604,253,354

Expense Breakdown

Grants Paid $0

Salaries & Benefits $978,132,654

Fundraising Expenses $0

Program Expenses $0

Other Expenses $1,081,059,856

TOTAL EXPENSES $2,059,192,510

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,604,253,354	$1,730,554,890	-0.1%
Expenses	$2,059,192,510	$2,160,421,774	0.0%
Net Income	$-454,939,156	$-429,866,884	+0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

4102

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$7,550,179

Total Directors

$5,626,501

Key Employees

$11,035,010

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	President & CEO	60.0	Officer Director	$3,243,336	$595,811	$3,839,147
N/A	Board Member	2.0	Director	$112,679	$0	$112,679
N/A	BOARD MEMBER	2.0	Director	$100,179	$0	$100,179
N/A	BOARD MEMBER - AS OF 12/15/23	2.0	Director	$0	$0	$0
N/A	CHAIRPERSON	2.0	Director	$170,628	$0	$170,628
N/A	Board Member	2.0	Director	$0	$0	$0
N/A	BOARD MEMBER	2.0	Director	$125,709	$0	$125,709
N/A	BOARD MEMBER - AS OF 12/21/23	2.0	Director	$10,000	$0	$10,000
N/A	Board Member - THRU 9/6/23	2.0	Director	$75,434	$0	$75,434
N/A	BOARD MEMBER	2.0	Director	$709	$0	$709
N/A	Board Member	2.0	Director	$113,209	$0	$113,209
N/A	Board Member - THRU 9/6/23	2.0	Director	$613	$0	$613
N/A	Board Member	2.0	Director	$120,364	$0	$120,364
N/A	Board Member	2.0	Director	$100,684	$0	$100,684
N/A	BOARD MEMBER - AS OF 5/18/23	2.0	Director	$75,709	$0	$75,709
N/A	Board Member	2.0	Director	$113,209	$0	$113,209
N/A	BOARD MEMBER	2.0	Director	$100,179	$0	$100,179
N/A	BOARD MEMBER	2.0	Director	$0	$0	$0
N/A	Board Member	2.0	Director	$102,575	$0	$102,575
N/A	BOARD MEMBER	2.0	Director	$100,179	$0	$100,179
N/A	BOARD MEMBER	2.0	Director	$0	$0	$0
N/A	BOARD MEMBER	2.0	Director	$100,204	$0	$100,204
N/A	BOARD MEMBER - AS OF 9/6/23	2.0	Director	$51,697	$0	$51,697
N/A	Board Member	2.0	Director	$112,704	$0	$112,704
N/A	Board Member	2.0	Director	$100,690	$0	$100,690
N/A	EVP Board & External relations	60.0	Officer	$955,474	$186,760	$1,142,234
N/A	Executive Vice President & CFAO	60.0	Officer	$1,668,198	$900,600	$2,568,798
N/A	Executive Vice President	60.0	Key Emp	$1,452,064	$82,308	$1,534,372
N/A	Executive Vice President	60.0	Key Emp	$752,681	$185,435	$938,116
N/A	Executive Vice President	60.0	Key Emp	$768,162	$169,934	$938,096
N/A	Executive Vice President	60.0	Key Emp	$1,342,269	$74,266	$1,416,535
N/A	EVP And Chief Legal Officer	60.0	Key Emp	$1,357,588	$86,606	$1,444,194
N/A	Executive Vice President	60.0	Key Emp	$1,001,760	$261,578	$1,263,338
N/A	Executive Vice President & CIO	60.0	Key Emp	$1,806,685	$489,129	$2,295,814
N/A	EXECUTIVE VICE PRESIDENT	60.0	Key Emp	$1,075,963	$128,582	$1,204,545
N/A	SENIOR VICE PRESIDENT - THRU 11/1/23	60.0	Highest	$2,068,572	$131,342	$2,199,914
N/A	SENIOR VICE PRESIDENT	60.0	Highest	$870,289	$58,040	$928,329
N/A	SENIOR VICE PRESIDENT	60.0	Highest	$916,068	$89,867	$1,005,935
N/A	SENIOR VICE PRESIDENT	60.0	Highest	$945,261	$161,749	$1,107,010
N/A	SENIOR VICE PRESIDENT	60.0	Highest	$875,105	$194,151	$1,069,256

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$1,604,253,354	$2,059,192,510	$2,483,003,873	$-454,939,156
2022	$1,730,554,890	$2,160,421,774	$2,751,162,902	$-429,866,884
2021	$1,418,364,485	$1,637,855,595	$2,420,287,162	$-219,491,110
2020	$1,763,233,323	$2,123,473,358	$2,454,852,715	$-360,240,035
2019	$1,316,323,993	$1,541,083,655	$2,248,066,636	$-224,759,662
2018	$1,246,962,010	$1,407,556,901	$2,115,247,106	$-160,594,891

Financial Industry Regulatory Authority Inc