Skip to content
Nonprofiteer
← SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION INC

Form 990 for tax year 2022

Filed by SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION INC.

Totals

Total revenue
$60,293,967
Total expenses
$57,479,959
Contributions and grants received
$0
Grants paid
$203,400
Program service revenue
$57,517,180
Investment income
$1,979,827
Other revenue
$796,960
Total assets, end of year
$72,929,787
Total liabilities, end of year
$50,236,088
Net assets or fund balances, end of year
$22,693,699
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 2a · Program service revenue: MEMBER DUES

    total $41,859,305 · related or exempt $41,859,305

  • 2b · Program service revenue: CONFERENCES

    total $15,577,590 · related or exempt $15,577,590

  • 2c · Program service revenue: PUBLICATION SALES

    total $80,285 · related or exempt $68,035 · unrelated business $12,250

  • 3 · Investment income

    total $1,979,827 · excluded $1,979,827

  • 5 · Royalties

    total $237,321 · unrelated business $230,987 · excluded $6,334

  • 11a · Other revenue: SHARED SERVICE AGREEMENTS

    total $474,996 · excluded $474,996

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $84,643 · excluded $84,643

  • 11e · Other revenue, total

    $559,639

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $203,400

  • 5 · Compensation of officers, directors and key employees

    total $8,059,362

  • 7 · Other salaries and wages

    total $23,883,575

  • 8 · Pension plan contributions

    total $2,017,476

  • 9 · Other employee benefits

    total $2,438,279

  • 10 · Payroll taxes

    total $1,494,119

  • 11a · Fees: management

    total $119,488

  • 11b · Fees: legal

    total $1,434,829

  • 11c · Fees: accounting

    total $145,662

  • 11d · Fees: lobbying

    total $868,849

  • 11g · Fees: other

    total $2,218,209

  • 13 · Office expenses

    total $455,412

  • 14 · Information technology

    total $802,904

  • 16 · Occupancy

    total $1,614,032

  • 17 · Travel

    total $923,500

  • 19 · Conferences, conventions and meetings

    total $6,995,651

  • 22 · Depreciation, depletion and amortization

    total $2,207,946

  • 24a · Other expenses: SUBSCRIPTION AND BOOKS

    total $695,666

  • 24b · Other expenses: UBTI/EXCISE TAX EXPENSE

    total $403,059

  • 24c · Other expenses: BANK CHARGES & CC FEES

    total $222,740

  • 24d · Other expenses: DUES & REGISTRATION

    total $180,425

  • 24e · All other expenses

    total $95,376

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,647,486 · end of year $2,838,804

  • 2 · Savings and temporary cash investments

    beginning of year $18,370,622 · end of year $23,527,293

  • 4 · Accounts receivable

    beginning of year $75,210 · end of year $46,667

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,833,152 · end of year $2,234,507

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

    $9,995,873

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

    $2,888,586

  • 10c · Land, buildings and equipment, net

    beginning of year $7,718,956 · end of year $7,107,287

  • 11 · Investments: publicly traded securities

    beginning of year $12,864,205 · end of year $13,592,039

  • 15 · Other assets

    beginning of year $2,038,997 · end of year $23,583,190

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,661,377 · end of year $11,982,067

  • 19 · Deferred revenue

    beginning of year $2,845,067 · end of year $4,158,794

  • 21 · Escrow or custodial account liability

    beginning of year $126,543 · end of year $191,443

  • 25 · Other liabilities

    beginning of year $12,119,447 · end of year $33,903,784

  • 27 · Net assets without donor restrictions

    beginning of year $19,796,194 · end of year $22,693,699

Mission and programs · 2022

Mission

SEE SCHEDULE OSIFMA IS THE LEADING TRADE ASSOCIATION FOR BROKER-DEALERS, INVESTMENT BANKS AND ASSET MANAGERS OPERATING IN THE U.S. AND GLOBAL CAPITAL MARKETS. ON BEHALF OF OUR INDUSTRY'S ONE MILLION EMPLOYEES, WE ADVOCATE ON LEGISLATION, REGULATION AND BUSINESS POLICY AFFECTING RETAIL AND INSTITUTIONAL INVESTORS, EQUITY AND FIXED INCOME MARKETS AND RELATED PRODUCTS AND SERVICES. WE SERVE AS AN INDUSTRY COORDINATING BODY TO PROMOTE FAIR AND ORDERLY MARKETS, INFORMED REGULATORY COMPLIANCE, AND EFFICIENT MARKET OPERATIONS AND RESILIENCY. WE ALSO PROVIDE A FORUM FOR INDUSTRY POLICY AND PROFESSIONAL DEVELOPMENT.

Activities or mission (Part I)

SIFMA IS THE VOICE OF THE NATION'S SECURITIES INDUSTRY, BRINGING TOGETHER (CONT. ON SCH. O) THE SHARED INTERESTS OF HUNDREDS OF BROKER-DEALERS, INVESTMENT BANKS AND ASSET MANAGERS. WE ADVOCATE FOR EFFECTIVE AND RESILIENT CAPITAL MARKETS.

  • SEE SCHEDULE O

  • SEE SCHEDULE O

  • SEE SCHEDULE O

  • CONTINUED SERVING AS A SOURCE OF MARKET INFORMATION, INCLUDING STATISTICS ON MANY FACETS OF THE MARKET PLACE AND PUBLISHING RESEARCH REPORTS, TRADE NEWSLETTERS AND OTHER PERIODICALS AND BOOKS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kenneth E Bentsen Jr

    PRESIDENT & CEO

    Total calculated
    $2,770,711
    From this org
    $2,689,114
    From related orgs
    $0
    Other
    $81,597
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,483,570
    Bonus
    $1,200,000
    Other
    $5,544
    Deferred
    $36,600
    Nontaxable benefits
    $44,997
    Filer's total
    $2,770,711

  • Jim Reynolds

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kenneth Cella

    CHAIR ELECT

    Total calculated
    $0
    Hours/week
    2

  • Laura Chepucavage

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Lisa Kidd Hunt

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • James Wallin

    TREASURER (THRU 03/2023)

    Total calculated
    $0
    Hours/week
    2

  • Kevin Bailey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dalia Blass

    DIRECTOR (THRU 04/2023)

    Total calculated
    $0
    Hours/week
    1

  • Libby Cantrill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Samara Cohen

    DIRECTOR (AS OF 04/2023)

    Total calculated
    $0
    Hours/week
    1

  • Michael Durbin

    DIRECTOR (THRU 03/2023)

    Total calculated
    $0
    Hours/week
    1

  • Katie Fallon

    DIRECTOR (AS OF 03/2023)

    Total calculated
    $0
    Hours/week
    1

  • Sol Gindi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gary Hall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Naureen Hassan

    DIRECTOR (AS OF 01/2023)

    Total calculated
    $0
    Hours/week
    1

  • Robert Hawley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeb Hensarling

    DIRECTOR (THRU 01/2023)

    Total calculated
    $0
    Hours/week
    1

  • Gary Kane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jim Kerr

    DIRECTOR (THRU 01/2023)

    Total calculated
    $0
    Hours/week
    1

  • Michael Kisber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ronald Kruszewski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Lefkowitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Larry Martinez

    DIRECTOR (AS OF 01/2023)

    Total calculated
    $0
    Hours/week
    1

  • Charlotte McLaughlin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Craig Messinger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Popowski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Douglas Preiser

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jamie Price

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shawn Quant

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Samuel Ramirez Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Reilly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brendan Reilly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Fw Rogers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Rosen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Claire Santaniello

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andy Saperstein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter Schneider

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kabir Sethi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nomita Chopra Singh

    DIRECTOR (THRU 05/2023)

    Total calculated
    $0
    Hours/week
    1

  • Mark Steffensen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joseph E Sweeney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Taft

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ryan Taylor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Vaccaro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kashif Zafar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joseph Seidel

    COO

    Total calculated
    $1,377,389
    From this org
    $1,285,542
    From related orgs
    $0
    Other
    $91,847
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $681,186
    Bonus
    $600,000
    Other
    $4,356
    Deferred
    $36,600
    Nontaxable benefits
    $55,247
    Filer's total
    $1,377,389

  • Ira D Hammerman - Evp

    & GENERAL COUNSEL (THRU 12/2022)

    Total calculated
    $1,124,940
    From this org
    $1,055,003
    From related orgs
    $0
    Other
    $69,937
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $585,230
    Bonus
    $407,500
    Other
    $62,273
    Deferred
    $36,600
    Nontaxable benefits
    $33,337
    Filer's total
    $1,124,940

  • David B Krasner

    CFO & CAO

    Total calculated
    $825,134
    From this org
    $734,398
    From related orgs
    $0
    Other
    $90,736
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $390,786
    Bonus
    $340,000
    Other
    $3,612
    Deferred
    $36,600
    Nontaxable benefits
    $54,136
    Filer's total
    $825,134

  • Cheryl L Crispen

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $712,008
    From this org
    $618,798
    From related orgs
    $0
    Other
    $93,210
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $345,186
    Bonus
    $270,000
    Other
    $3,612
    Deferred
    $36,600
    Nontaxable benefits
    $56,610
    Filer's total
    $712,008

  • Salvatore Chiarelli

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $510,918
    From this org
    $438,164
    From related orgs
    $0
    Other
    $72,754
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,232
    Bonus
    $210,000
    Other
    $1,932
    Deferred
    $36,600
    Nontaxable benefits
    $36,154
    Filer's total
    $510,918

  • Saima Ahmed

    EVP & GEN. COUNSEL (AS OF 10/2022)

    Total calculated
    $239,082
    From this org
    $224,048
    From related orgs
    $0
    Other
    $15,034
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,800
    Bonus
    $75,000
    Other
    $248
    Deferred
    $6,750
    Nontaxable benefits
    $8,284
    Filer's total
    $239,082

  • Josh Wilsussen

    EXEC. VICE PRESIDENT (AS OF 10/2022)

    Total calculated
    $118,412
    From this org
    $106,175
    From related orgs
    $0
    Other
    $12,237
    Hours/week
    40

  • Robert Toomey

    MANAGING DIRECTOR

    Total calculated
    $668,295
    From this org
    $576,040
    From related orgs
    $0
    Other
    $92,255
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $375,496
    Bonus
    $195,000
    Other
    $5,544
    Deferred
    $39,369
    Nontaxable benefits
    $52,886
    Filer's total
    $668,295

  • Lisa Bleier

    MANAGING DIRECTOR

    Total calculated
    $626,757
    From this org
    $538,278
    From related orgs
    $0
    Other
    $88,479
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $346,346
    Bonus
    $190,000
    Other
    $1,932
    Deferred
    $36,600
    Nontaxable benefits
    $51,879
    Filer's total
    $626,757

  • Thomas Price

    MANAGING DIRECTOR

    Total calculated
    $595,301
    From this org
    $505,815
    From related orgs
    $0
    Other
    $89,486
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $330,271
    Bonus
    $170,000
    Other
    $5,544
    Deferred
    $36,600
    Nontaxable benefits
    $52,886
    Filer's total
    $595,301

  • Carter K McDowell

    MANAGING DIRECTOR

    Total calculated
    $573,363
    From this org
    $515,841
    From related orgs
    $0
    Other
    $57,522
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $420,297
    Bonus
    $90,000
    Other
    $5,544
    Deferred
    $36,600
    Nontaxable benefits
    $20,922
    Filer's total
    $573,363

  • Kevin Carroll

    MANAGING DIRECTOR

    Total calculated
    $568,479
    From this org
    $530,377
    From related orgs
    $0
    Other
    $38,102
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $348,765
    Bonus
    $178,000
    Other
    $3,612
    Deferred
    $36,600
    Nontaxable benefits
    $1,502
    Filer's total
    $568,479

  • Jamie Wall - Former

    EXEC. VICE PRESIDENT (THRU 09/2022)

    Total calculated
    $468,890
    From this org
    $429,390
    From related orgs
    $0
    Other
    $39,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $413,970
    Bonus
    $0
    Other
    $15,420
    Deferred
    $36,600
    Nontaxable benefits
    $2,900
    Filer's total
    $468,890

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 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

The filer's explanations (Part III)

PART I, LINE 1A
FIRST-CLASS TRAVEL PER THE EMPLOYMENT CONTRACT, SIFMA PROVIDED FIRST CLASS AIR TRAVEL OF THREE HOURS OR MORE WHEN TRAVELING FOR SIFMA BUSINESS FOR KENNETH E. BENTSEN, JR., PRESIDENT AND CEO. THE FIRST-CLASS AIR TRAVEL WAS EXCLUDED FROM TAXABLE COMPENSATION ON THE INDIVIDUAL'S FORM W-2 BECAUSE IT WAS INCURRED FOR BUSINESS REASONS.

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
28 August 2024
IRS schema version
2022v5.0
Source object
202402419349301205

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.