← COMMITTEE ON CAPITAL MARKETS REGULATION INC

Form 990 for tax year 2024

Filed by COMMITTEE ON CAPITAL MARKETS REGULATION INC.

Totals

Total revenue: $3,542,376
Total expenses: $3,439,337
Contributions and grants received: $3,277,713
Grants paid: $0
Program service revenue: $35,260
Investment income: $111,610
Other revenue: $117,793
Total assets, end of year: $5,900,281
Total liabilities, end of year: $782,853
Net assets or fund balances, end of year: $5,117,428
Program services expenses (Part IX): $2,532,803
Management and general expenses: $569,928
Fundraising expenses: $336,606
Program service expenses (Part III): $2,532,803

Program services were 73.6% 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.

1f · All other contributions, gifts and grants

$3,277,713
1g · Noncash contributions included above

$57,113
2a · Program service revenue: OUTSOURCED RESEARCH CO

total $35,260 · related or exempt $35,260
3 · Investment income

total $113,167 · excluded $113,167
6a · Gross rents

real property $114,860
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $114,860
6d · Net rental income or loss

total $114,860 · excluded $114,860
7a · Gross sales of assets other than inventory

securities $179,916
7b · Less cost or other basis and sales expenses

securities $181,473
7c · Gain or loss

securities -$1,557
7d · Net gain or loss

total -$1,557 · excluded -$1,557
11a · Other revenue: OTHER INCOME

total $2,933 · related or exempt $2,933
11e · Other revenue, total

$2,933

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $1,471,008 · program services $912,394 · management and general $329,391 · fundraising $229,223
7 · Other salaries and wages

total $935,072 · program services $841,646 · management and general $57,985 · fundraising $35,441
8 · Pension plan contributions

total $23,632 · program services $21,415 · management and general $1,239 · fundraising $978
9 · Other employee benefits

total $36,079 · program services $31,234 · management and general $2,574 · fundraising $2,271
10 · Payroll taxes

total $123,157 · program services $90,237 · management and general $19,538 · fundraising $13,382
11b · Fees: legal

total $5,539 · program services $5,539
11c · Fees: accounting

total $33,688 · management and general $33,688
11d · Fees: lobbying

total $18,750 · program services $18,750
11e · Fees: professional fundraising services

total $15,112 · fundraising $15,112
11f · Fees: investment management

total $9,922 · management and general $9,922
11g · Fees: other

total $336,074 · program services $320,905 · management and general $15,169
13 · Office expenses

total $39,453 · program services $28,715 · management and general $9,120 · fundraising $1,618
14 · Information technology

total $24,111 · program services $12,912 · management and general $9,480 · fundraising $1,719
16 · Occupancy

total $211,452 · program services $154,196 · management and general $35,554 · fundraising $21,702
17 · Travel

total $105,519 · program services $69,995 · management and general $22,582 · fundraising $12,942
22 · Depreciation, depletion and amortization

total $21,003 · program services $15,752 · management and general $3,033 · fundraising $2,218
23 · Insurance

total $21,399 · program services $979 · management and general $20,420
24a · Other expenses: LICENSE FEES

total $8,367 · program services $8,134 · management and general $233

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $153,227 · end of year $214,663
2 · Savings and temporary cash investments

beginning of year $2,405,528 · end of year $1,814,124
3 · Pledges and grants receivable

beginning of year $427,500 · end of year $820,000
4 · Accounts receivable

beginning of year $101,822 · end of year $216,008
9 · Prepaid expenses and deferred charges

beginning of year $304,296 · end of year $399,633
10a · Land, buildings and equipment: cost or other basis

$144,266
10b · Land, buildings and equipment: accumulated depreciation

$82,546
10c · Land, buildings and equipment, net

beginning of year $62,398 · end of year $61,720
11 · Investments: publicly traded securities

beginning of year $1,510,279 · end of year $1,664,797
14 · Intangible assets

beginning of year $6,634 · end of year $3,173
15 · Other assets

beginning of year $749,151 · end of year $706,163
17 · Accounts payable and accrued expenses

beginning of year $59,365 · end of year $63,852
25 · Other liabilities

beginning of year $783,148 · end of year $719,001
27 · Net assets without donor restrictions

beginning of year $4,780,375 · end of year $4,827,428
28 · Net assets with donor restrictions

beginning of year $97,947 · end of year $290,000

Mission and programs · 2024

Mission

THE SPECIFIC PURPOSES FOR WHICH THE CORPORATION IS FORMED INCLUDE: 1) EXPLORING A RANGE OF ISSUES RELATED TO MAINTAINING AND IMPROVING THE COMPETITIVENESS OF THE US CAPITAL MARKETS; 2) RECOMMENDING POLICY CHANGES THAT SHOULD BE MADE, (CONTINUED ON SCHEDULE O) OR AREAS OF RESEARCH THAT SHOULD BE PURSUED; 3) PRESERVING AND ENHANCING THE BALANCE BETWEEN EFFICIENT AND COMPETITIVE CAPITAL MARKETS AND SHAREHOLDER PROTECTION; AND 4) PURSUING OTHER SIMILAR AREAS OF STUDY AND DISCUSSION.

Activities or mission (Part I)

TO RESEARCH AND ADDRESS SPECIFIC ISSUES AFFECTING THE REGULATION OF U.S. CAPITAL MARKETS.

THE COMMITTEE ON CAPITAL MARKETS REGULATION, INC. IS AN INDEPENDENT AND NONPARTISAN RESEARCH ORGANIZATION DEDICATED TO IMPROVING THE REGULATION OF U.S. CAPITAL MARKETS. THE COMMITTEE'S RESEARCH PROVIDES POLICYMAKERS WITH A NONPARTISAN EMPIRICAL FOUNDATION FOR PUBLIC POLICY AND EDUCATES THE PUBLIC ON THESE ISSUES. IN 2024, THE COMMITTEE RELEASED TWO MAJOR REPORTS: AN ANALYSIS OF THE CONSTITUTIONALITY OF STATE ESG LAWS (OCT. 2024), AND THE 2018 AND 2020 CAPITAL AND LIQUIDITY REFORMS AND BANK LENDING,, WHICH WAS RELEASED IN JANUARY 2024 BUT PREPARED IN 2023. THE EXPENSES ASSOCIATED WITH THESE REPORTS WERE LIKELY IN THE RANGE OF $500,000. THE COMMITTEE ALSO RELEASED TWO STATEMENTS: (1) THE HISTORIC PACE OF SEC RULEMAKING AND LITIGATION (OCT. 2024), AND (2) SEC RULEMAKING PACE: METHODOLOGY COMPARISON (NOV. 2024). IN ADDITION TO ITS MAJOR REPORTS AND STATEMENTS, THE COMMITTEE UPDATED ITS ANNUAL ANALYSIS OF MONETARY SANCTIONS IMPOSED BY U.S. ENFORCEMENT AGENCIES AND SUBMITTED FOUR COMMENT LETTERS TO FEDERAL FINANCIAL REGULATORY AGENCIES: ONE TO THE COMMODITY FUTURES TRADING COMMISSION ("CFTC"), ONE TO THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ("FED"), AND TWO TO THE FEDERAL DEPOSIT INSURANCE CORPORATION ("FDIC").

Expenses $2,532,803 · Revenue $35,260

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

HAL S SCOTT

PRESIDENT/DIRECTOR

Total calculated

$764,500

From this org

$745,000

From related orgs

$0

Other

$19,500

Hours/week

30

Schedule J breakdown matched by us

Base

$612,000

Bonus

$110,000

Other

$23,000

Deferred

$19,500

Nontaxable benefits

$0

Filer's total

$764,500
ROBERT GLENN HUBBARD

CO-CHAIR/DIRECTOR

Total calculated

$0

Hours/week

0.5
JOHN L THORNTON

CO-CHAIR/DIRECTOR

Total calculated

$0

Hours/week

0.5
LESLIE N SILVERMAN

DIRECTOR

Total calculated

$0

Hours/week

0.5
BARBARA G NOVICK

DIRECTOR

Total calculated

$0

Hours/week

0.5
ANDREW KURITZKES

DIRECTOR (APPT. 12/2/24)

Total calculated

$0

Hours/week

0.5
JACQUELINE MCCABE

VP/SECRETARY

Total calculated

$87,550

From this org

$85,000

From related orgs

$0

Other

$2,550

Hours/week

20
CRISTINA LEONE

TREASURER/CFO

Total calculated

$130,107

From this org

$120,785

From related orgs

$0

Other

$9,322

Hours/week

25
JOHN A GULLIVER

EXECUTIVE DIRECTOR

Total calculated

$493,850

From this org

$473,000

From related orgs

$0

Other

$20,850

Hours/week

30

Schedule J breakdown matched by us

Base

$395,000

Bonus

$55,000

Other

$23,000

Deferred

$8,725

Nontaxable benefits

$12,125

Filer's total

$493,850
ANDREW BEATTY

SR. RESEARCH FELLOW

Total calculated

$158,119

From this org

$147,688

From related orgs

$0

Other

$10,431

Hours/week

50

Schedule J breakdown matched by us

Base

$137,688

Bonus

$10,000

Other

$0

Deferred

$4,431

Nontaxable benefits

$6,000

Filer's total

$158,119
CONNOR KORTJE

SR. RESEARCH FELLOW

Total calculated

$253,566

From this org

$240,355

From related orgs

$0

Other

$13,211

Hours/week

50

Schedule J breakdown matched by us

Base

$225,355

Bonus

$15,000

Other

$0

Deferred

$7,211

Nontaxable benefits

$6,000

Filer's total

$253,566
JESSIE STEFANIK

SR. RESEARCH FELLOW

Total calculated

$139,094

From this org

$135,384

From related orgs

$0

Other

$3,710

Hours/week

50

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

1a · First-class or charter travel
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Independent compensation consultant
3 · Form 990 of other organizations
3 · Compensation survey or study
3 · Approval by the board or compensation committee
7 · Other non-fixed payments

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
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A: FIRST CLASS TRAVEL IS PROVIDED FOR HAL S. SCOTT, PRESIDENT, IN THE CASE OF LONG TRIPS WHERE PRIVACY IS NEEDED FOR WORKING ON CONFIDENTIAL DOCUMENTS, WHEN BUSINESS CLASS TICKETS ARE NOT AVAILABLE, OR A FREE UPGRADE TO FIRST CLASS IS AVAILABLE.
PART I, LINE 7: ALL OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES RECEIVED A DISCRETIONARY BONUS IN 2024. THE BONUSES ARE DETERMINED BASED ON THE MARKET RATE FOR SIMILAR ROLES AT OTHER SIMILAR ORGANIZATIONS. THE BONUS WAS APPROVED BY THE BOARD OF DIRECTORS.

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: 2024
Filed: 13 November 2025
IRS schema version: 2024v5.2
Source object: 202513189349302576

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