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Nonprofiteer
← MODERN MARKETS INITIATIVE INC

Form 990 for tax year 2023

Filed by MODERN MARKETS INITIATIVE INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 5 September 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$696,000 changed to $0
Total expenses
$917,390 changed to $803,916
Contributions and grants received
$696,000 changed to $0
Grants paid
$0 changed to $118,994
Total assets, end of year
$803,916 changed to $0
Net assets or fund balances, end of year
$803,916 changed to $0
Program services expenses
$917,390 changed to $803,916
Program service expenses (Part III)
$917,390 changed to $803,916

Totals

Total revenue
$696,000
Total expenses
$917,390
Contributions and grants received
$696,000
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$803,916
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$803,916
Program services expenses (Part IX)
$917,390
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$917,390

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $696,000

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $580,000 · program services $580,000

  • 7 · Other salaries and wages

    total $5,670 · program services $5,670

  • 8 · Pension plan contributions

    total $4,000 · program services $4,000

  • 9 · Other employee benefits

    total $44,418 · program services $44,418

  • 10 · Payroll taxes

    total $21,114 · program services $21,114

  • 11c · Fees: accounting

    total $20,935 · program services $20,935

  • 11g · Fees: other

    total $175,182 · program services $175,182

  • 13 · Office expenses

    total $865 · program services $865

  • 17 · Travel

    total $15,843 · program services $15,843

  • 23 · Insurance

    total $6,160 · program services $6,160

  • 24a · Other expenses: OFFICE EXPENSE

    total $14,036 · program services $14,036

  • 24b · Other expenses: SUBSCRIPTIONS

    total $11,547 · program services $11,547

  • 24c · Other expenses: DUES

    total $8,380 · program services $8,380

  • 24d · Other expenses: MEALS

    total $3,362 · program services $3,362

  • 24e · All other expenses

    total $5,878 · program services $5,878

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $798,506 · end of year $801,916

  • 4 · Accounts receivable

    beginning of year $232,000 · end of year $0

  • 15 · Other assets

    beginning of year $2,000 · end of year $2,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,200 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,025,306 · end of year $803,916

Mission and programs · 2023

Mission

THE ORGANIZATION IS FOCUSED ON DEMONSTRATING THE BENEFITS OF ALGORITHMIC OR QUANTITATIVE TRADING, OFTEN REFERRED TO AS HIGH-FREQUENCY TRADING, IN TODAY'S MODERN MARKETS.

Activities or mission (Part I)

TO DEMONSTRATE THE BENEFITS OF ALGORITHMIC OR QUANTITATIVE TRADING IN TODAY'S MODERN MARKETS.

  • THE ORGANIZATION SUCCESSFULLY ESTABLISHED RELATIONSHIPS WITH KEY INFLUENCERS IN MEDIA, INDUSTRY AND REGULATORY, AND LEGISLATIVE CIRCLES. IT PLAYED A PIVOTAL ROLE IN PROMOTING AND DISTRIBUTING INFORMATIONAL MATERIAL, DRAFTING OP-EDS, STUDIES, AND REPORTS ON MARKET STRUCTURE, TECHNOLOGY INNOVATION, AND ROLE OF HFT IN THE SAVINGS COMMUNITY. MMI LEADERS SPOKE AT INDUSTRY EVENTS, ADVISORY BOARD EVENTS, AND DIRECTLY WITH THE SAVINGS COMMUNITY, PENSION FUNDS, OTHER TRADE ASSOCIATIONS, INSTITUTIONAL INVESTORS, AND NONPROFITS. IT ADDED CONTENT TO ITS WEBSITE AND PROMOTED IT THROUGH VARIOUS SOCIAL MEDIA CHANNELS SUCH AS LINKEDIN AND TWITTER.

    Expenses $917,390

As filed on the 2023 return.

Listed in Part VII

  • Richard Grant

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • Adam Nunes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • Ken Wilson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • Johannah Ladd

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.5

  • Kirsten Wegner

    CEO

    Total calculated
    $580,000
    From this org
    $580,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $420,000
    Bonus
    $160,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $580,000

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
2 May 2024
IRS schema version
2023v5.0
Source object
202421249349300637

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