Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: PLAN ADMIN/ASSET MGMT

  total $223,904,010 · related or exempt $223,904,010

• 2b · Program service revenue: OTHER ACCOUNT ADMIN

  total $24,890,415 · unrelated business $24,890,415

• 3 · Investment income

  total $18,183,393 · excluded $18,183,393

• 6a · Gross rents

  real property $902,681

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $902,681

• 6d · Net rental income or loss

  total $902,681 · excluded $902,681

• 7a · Gross sales of assets other than inventory

  securities $58,929,236

• 7b · Less cost or other basis and sales expenses

  securities $58,020,060

• 7c · Gain or loss

  securities $909,176

• 7d · Net gain or loss

  total $909,176 · excluded $909,176

• 11a · Other revenue: BLDG ACCT SERVICES

  total $185,196 · unrelated business $185,196

• 11e · Other revenue, total

  $185,196

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $18,500 · program services $18,500

• 5 · Compensation of officers, directors and key employees

  total $4,598,173 · program services $2,610,363 · management and general $1,987,810

• 7 · Other salaries and wages

  total $108,478,417 · program services $101,177,050 · management and general $7,301,367

• 8 · Pension plan contributions

  total $6,880,907 · program services $5,905,001 · management and general $975,906

• 9 · Other employee benefits

  total $13,345,556 · program services $11,119,223 · management and general $2,226,333

• 10 · Payroll taxes

  total $7,014,602 · program services $6,508,569 · management and general $506,033

• 11b · Fees: legal

  total $2,185,528 · program services $1,954,611 · management and general $230,917

• 11c · Fees: accounting

  total $666,890 · program services $585,263 · management and general $81,627

• 11d · Fees: lobbying

  total $101,122 · program services $101,122

• 11f · Fees: investment management

  total $54,531 · management and general $54,531

• 12 · Advertising and promotion

  total $3,149,654 · program services $3,149,654

• 13 · Office expenses

  total $1,961,903 · program services $1,721,766 · management and general $240,137

• 14 · Information technology

  total $20,667,158 · program services $18,397,013 · management and general $2,270,145

• 15 · Royalties

  total $2,666,198 · program services $2,666,198

• 16 · Occupancy

  total $7,119,058 · program services $6,247,685 · management and general $871,373

• 17 · Travel

  total $2,913,584 · program services $2,816,654 · management and general $96,930

• 19 · Conferences, conventions and meetings

  total $1,570,829 · program services $789,735 · management and general $781,094

• 22 · Depreciation, depletion and amortization

  total $6,551,601 · program services $5,749,685 · management and general $801,916

• 23 · Insurance

  total $2,105,889 · program services $1,521,926 · management and general $583,963

• 24a · Other expenses: THIRD-PARTY PLAN ADMIN.

  total $36,515,812 · program services $36,515,812 · management and general $0

• 24b · Other expenses: DATA PROCESSING

  total $10,206,991 · program services $10,206,991 · management and general $0

• 24c · Other expenses: TEMPORARY SERVICES

  total $5,645,935 · program services $5,084,025 · management and general $561,910

• 24d · Other expenses: PLAN MAILING/POSTAGE

  total $4,956,646 · program services $4,956,646 · management and general $0

• 24e · All other expenses

  total $18,188,607 · program services $15,168,849 · management and general $3,019,758

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,220,554 · end of year $1,045,023

• 2 · Savings and temporary cash investments

  beginning of year $102,395,395 · end of year $88,494,940

• 4 · Accounts receivable

  beginning of year $26,504,889 · end of year $27,739,273

• 9 · Prepaid expenses and deferred charges

  beginning of year $10,621,727 · end of year $15,213,335

• 10a · Land, buildings and equipment: cost or other basis

  $88,029,917

• 10b · Land, buildings and equipment: accumulated depreciation

  $72,642,095

• 10c · Land, buildings and equipment, net

  beginning of year $19,689,518 · end of year $15,387,822

• 11 · Investments: publicly traded securities

  beginning of year $267,758,502 · end of year $202,568,940

• 12 · Investments: other securities

  beginning of year $184,783,627 · end of year $295,220,669

• 15 · Other assets

  beginning of year $30,122,851 · end of year $32,297,334

• 17 · Accounts payable and accrued expenses

  beginning of year $65,326,515 · end of year $64,100,793

• 18 · Grants payable

  beginning of year $18,500,000 · end of year $16,900,000

• 25 · Other liabilities

  beginning of year $28,339,485 · end of year $27,867,910

• 27 · Net assets without donor restrictions

  beginning of year $530,931,063 · end of year $569,098,633

The filer's explanations (Part III)

PART I, LINE 1A

SCHEDULE J, PART I, LINE 1A: FIRST-CLASS TRAVEL: THE CORPORATION'S BOARD-APPROVED TRAVEL GUIDELINES PERMIT DIRECTORS THE OPTION OF FIRST-CLASS TRAVEL WHEN IT INVOLVES EXTENUATING CIRCUMSTANCES, SUCH AS EXTENDED FLIGHT TIMES AND LATE-NIGHT ARRIVALS WHILE ATTENDING BOARD MEETINGS. TRAVEL FOR COMPANIONS: IN CONSIDERATION OF PERSONAL AND FAMILY OBLIGATIONS, THE CORPORATION'S BOARD-APPROVED TRAVEL GUIDELINES PERMIT ASSISTANCE TO DEFRAY TRAVEL COSTS OF FAMILY MEMBERS OR COMPANIONS WHO MAY ACCOMPANY DIRECTORS TO BOARD MEETINGS. ALTHOUGH DIRECTORS ARE NOT PAID FEES FOR THEIR SERVICES, THEY DO RECOGNIZE TAXABLE INCOME IN THE AMOUNT OF ANY SUCH TRAVEL ASSISTANCE. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: THE CORPORATION'S ACTING CEO RECEIVED TAXABLE TRAVEL AND GROSS-UP PAYMENTS CONNECTED WITH THE INTERIM APPOINTMENT TO THIS POSITION, WHICH WERE TREATED AS COMPENSATION.

PART I, LINES 4A-B

SCHEDULE J, PART I, LINE 4A: SEVERANCE PAYMENTS: SECRETARY AND CHIEF LEGAL OFFICER, KATHERINE SCHULZE, SEPARATED FROM EMPLOYMENT DURING 2023. THE COMPENSATION TOTAL REPORTED IN FORM 990, SCHEDULE J, PART II, COLUMN B(III) INCLUDES $40,385, REPRESENTING A SEVERANCE PAYMENT THAT WAS TAXABLE TO THIS INDIVIDUAL. SCHEDULE J, PART I, LINE 4B: SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: IN 2000, THE BOARD OF DIRECTORS ADOPTED A SECTION 457(F) SUPPLEMENTAL RETIREMENT PLAN FOR CERTAIN SENIOR EXECUTIVES (2000 PLAN). A SECOND SUCH PLAN WAS ADOPTED BY THE BOARD OF DIRECTORS, EFFECTIVE AS OF 2010 (2010 PLAN). THE BOARD REVIEWED COMPARABILITY DATA PROVIDED BY AN INDEPENDENT COMPENSATION CONSULTANT BEFORE APPROVING THESE PLANS AS PART OF AN OVERALL PROGRAM OF REASONABLE COMPENSATION. THEREAFTER, THE BOARD HAS ALSO PERIODICALLY REVIEWED COMPARABILITY DATA THROUGH 2023, AS THE RIGHTS OF PARTICIPANTS RESPECTIVELY ACCRUED OR VESTED UNDER THESE PLANS. AFTER EACH REVIEW, THE BOARD DETERMINED THAT THE AMOUNTS ACCRUED OR PAID UNDER THE PLANS WERE REASONABLE AS PART OF EACH INDIVIDUAL PARTICIPANT'S OVERALL COMPENSATION, AND NO PLAN PARTICIPANTS TOOK PART IN THE BOARD'S DELIBERATIONS OR DECISIONS RELATING TO A PLAN IN WHICH THEY WERE PARTICIPATING. WITH RESPECT TO THE 2000 PLAN, SENIOR VICE PRESIDENT, WAYNE WICKER, WAS AN ELIGIBLE AND APPROVED PARTICIPANT DURING 2023 AND IS LISTED IN FORM 990, PART VII AND SCHEDULE J. THIS INDIVIDUAL IS VESTED UNDER THE 2000 PLAN AND MAY RECEIVE FUTURE PAYMENTS BEGINNING AT RETIREMENT; HOWEVER, HE DID NOT HAVE A REPORTABLE BENEFIT UNDER THE PLAN IN 2023. WITH RESPECT TO THE 2010 PLAN, CERTAIN OTHER SENIOR EXECUTIVES WERE ELIGIBLE AND APPROVED PLAN PARTICIPANTS DURING 2023 AND ARE LISTED IN FORM 990, PART VII, AND SCHEDULE J. THESE INDIVIDUALS EARNED VESTED AND UNVESTED CREDIT TOWARDS RETIREMENT BENEFITS UNDER THE 2010 PLAN, AND THE AMOUNTS REPORTED INCLUDE ANNUAL CREDITS TOWARDS FUTURE RETIREMENT BENEFITS THAT MAY BECOME PAYABLE UNDER THE PLAN. DURING 2023, THIS GROUP INCLUDED THE FOLLOWING INDIVIDUALS: LYNNE FORD, DAI SHI, AND ANGELA MONTEZ.

SCHEDULE J, PART I, LINE 7 AND LINE 8:

NON-FIXED PAYMENTS: SHORT-TERM, FUNCTIONAL, AND LONG-TERM INCENTIVE COMPENSATION PROGRAMS ARE OFFERED FOR CERTAIN EXECUTIVES OF THE CORPORATION. THESE PLANS ARE ESTABLISHED BY THE CORPORATION'S BOARD BASED ON RECOMMENDATIONS OF THE FINANCE AND ADMINISTRATION COMMITTEE OF THE BOARD. THE PROGRAMS HAVE SPECIFIC GOALS AND OBJECTIVES THAT ARE APPROVED IN ADVANCE BY THE BOARD, AND IN THE BOARD'S DISCRETION, PARTICIPANTS MAY BE AWARDED COMPENSATORY AMOUNTS BASED ON PERFORMANCE IN ACCORDANCE WITH SUCH GOALS AND OBJECTIVES. THE CORPORATION'S BOARD APPROVES ALL AMOUNTS UNDER THESE PROGRAMS AND RELIES ON MARKET DATA FROM AN INDEPENDENT COMPENSATION CONSULTANT TO DETERMINE THEIR REASONABLENESS AS PART OF THE PARTICIPANTS' OVERALL COMPENSATION. ALL ELIGIBLE EXECUTIVES OF THE CORPORATION LISTED ON FORM 990, SCHEDULE J, PART II EARNED AND RECEIVED A FORM OF SUCH PAYMENTS DURING THE FIRST QUARTER OF 2023.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• ICMA-RC SERVICES LLC

  SEE PART VII · DE · income $862,362 · assets $1,135,847

  Directly controlled by ICMA-RC DBA MISSIONSQUARE RETIREMENT

• VANTAGEPOINT TRANSFER AGENTS LLC

  SEE PART VII · DE · income $0 · assets $0

  Directly controlled by ICMA-RC DBA MISSIONSQUARE RETIREMENT

• VANTAGEPOINT INVESTMENT ADVISERS LLC

  SEE PART VII · DE · income $43,075,648 · assets $1,109,599

  Directly controlled by ICMA-RC DBA MISSIONSQUARE RETIREMENT

• VANTAGETRUST COMPANY LLC

  SEE PART VII · NH · income $173,101,071 · assets $9,045,087

  Directly controlled by ICMA-RC DBA MISSIONSQUARE RETIREMENT

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CENTER FOR PUBLIC ADMIN AND SERVICE INC

  C · SEE PART VII · MD · 33.33% owned · share of income $3,662,854 · share of assets $9,361,971