Financial Industry Regulatory Authority Inc

EIN: 530088710

ROCKVILLE, MD

Total Revenue
$1,604,253,354
Total Expenses
$2,059,192,510
Total Assets
$2,483,003,873
Net Assets
$1,672,753,932
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1936
Legal Domicile
DE
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.

Program Service Accomplishments

Program 1

FINRA is a not-for-profit organization dedicated to investor protection and market integrity. FINRA regulates one critical part of the securities industry-member brokerage firms doing business in the...

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FINRA is a not-for-profit organization dedicated to investor protection and market integrity. FINRA regulates one critical part of the securities industry-member brokerage firms doing business in the U.S. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees.

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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%)

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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

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Governance

Voting Members
23
Independent Members
22
Employees
4102
Volunteers
5

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
3
$7,550,179
Total Directors
25
$5,626,501
Key Employees
8
$11,035,010
Highest Compensated
5
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
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