Skip to content
Nonprofiteer
← INVESTMENT COMPANY INSTITUTE

Form 990 for tax year 2024

Filed by INVESTMENT COMPANY INSTITUTE.

Totals

Total revenue
$85,551,495
Total expenses
$83,667,741
Contributions and grants received
$72,867,198
Grants paid
$0
Program service revenue
$7,644,437
Investment income
$3,733,016
Other revenue
$1,306,844
Total assets, end of year
$150,425,314
Total liabilities, end of year
$83,869,324
Net assets or fund balances, end of year
$66,555,990
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.

  • 1b · Membership dues

    $72,867,198

  • 2a · Program service revenue: CONFERENCE & WORKSHOPS

    total $6,425,981 · related or exempt $6,425,981

  • 2b · Program service revenue: SUBSCRIPTION SERVICES

    total $848,133 · related or exempt $848,133

  • 2c · Program service revenue: FEE BASED BUSINESS INCOME

    total $370,323 · related or exempt $370,323

  • 3 · Investment income

    total $4,297,471 · excluded $4,297,471

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $778,468 · excluded $778,468

  • 6a · Gross rents

    real property $512,986

  • 6c · Rental income or loss

    real property $512,986 · personal property $0

  • 6d · Net rental income or loss

    total $512,986 · excluded $512,986

  • 7a · Gross sales of assets other than inventory

    securities $110,703,528

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

    securities $111,267,983

  • 7c · Gain or loss

    securities -$564,455

  • 7d · Net gain or loss

    total -$564,455 · excluded -$564,455

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $15,390 · related or exempt $15,390

  • 11e · Other revenue, total

    $15,390

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $6,032,954

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $35,095,806

  • 8 · Pension plan contributions

    total $4,572,537

  • 9 · Other employee benefits

    total $5,283,419

  • 10 · Payroll taxes

    total $2,608,541

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $1,815,391

  • 11c · Fees: accounting

    total $326,133

  • 11d · Fees: lobbying

    total $1,984,439

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $669,182

  • 14 · Information technology

    total $2,606,025

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $4,488,200

  • 17 · Travel

    total $1,422,774

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $6,930,694

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,588,392

  • 23 · Insurance

    total $315,316

  • 24a · Other expenses: RESEARCH INFORMATION SERVICE

    total $1,227,403

  • 24b · Other expenses: LOBBY PROXY TAX

    total $1,124,921

  • 24c · Other expenses: EXCISE TAX

    total $365,711

  • 24d · Other expenses: UNRELATED BUSINESS INC. TAX

    total $250

  • 24e · All other expenses

    total $5,209,653

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,018,925 · end of year $3,019,244

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $2,541,004 · end of year $2,143,183

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,230,111 · end of year $4,277,185

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

    $19,533,303

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

    $5,920,467

  • 10c · Land, buildings and equipment, net

    beginning of year $13,354,359 · end of year $13,612,836

  • 11 · Investments: publicly traded securities

    beginning of year $83,367,329 · end of year $86,901,068

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $42,892,000 · end of year $40,471,798

  • 17 · Accounts payable and accrued expenses

    beginning of year $26,408,456 · end of year $26,726,633

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $1,257,144 · end of year $2,901,364

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $57,526,980 · end of year $54,241,327

  • 27 · Net assets without donor restrictions

    beginning of year $61,211,148 · end of year $66,555,990

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

TO STRENGTHEN THE FOUNDATION OF THE ASSET MANAGEMENT INDUSTRY FOR THE ULTIMATE BENEFIT OF THE LONG-TERM INDIVIDUAL INVESTOR. MEMBERS INCLUDE MUTUAL FUNDS, EXCHANGE-TRADED FUNDS (ETFS), CLOSED-END FUNDS, AND UNIT INVESTMENT TRUSTS (UITS) IN THE UNITED STATES, AND SIMILAR FUNDS OFFERED TO INVESTORS IN EUROPE, ASIA AND OTHER JURISDICTIONS.

Activities or mission (Part I)

SEE SCHEDULE O

  • PUBLIC POLICY ISSUES - ICI ADVANCES THE INTERESTS OF INVESTMENT COMPANIES, THEIR SHAREHOLDERS, DIRECTORS, AND INVESTMENT ADVISERS BY SUPPORTING EFFECTIVE LEGISLATION AND REGULATION. TO SECURE PUBLIC POLICY OBJECTIVES, ICI REPRESENTS THE FUND INDUSTRY AND ITS SHAREHOLDERS BEFORE CONGRESS, THE SECURITIES AND EXCHANGE COMMISSION, AND OTHER REGULATORY AGENCIES, AS WELL AS STATE AND FOREIGN REGULATORS.

  • RESEARCH - ICI IS THE PRIMARY SOURCE FOR STATISTICAL DATA AND RESEARCH ON INVESTORS AND RETIREMENT PLANS IN THE INVESTMENT COMPANY INDUSTRY. ICI RESEARCH EXAMINES SUCH TOPICS AS THE RETIREMENT MARKET, SHAREHOLDER DEMOGRAPHICS, TRENDS IN SHAREHOLDER OWNERSHIP, FUND FEES AND EXPENSES, AND THE INDUSTRY'S ROLE IN FOREIGN MARKETS.

  • STRATEGIC COMMUNICATIONS - ICI OFFERS A WIDE RANGE OF RESOURCES TO THE MEDIA, INCLUDING NEWS RELEASES, BACKGROUND INFORMATION ON THE FUND INDUSTRY, TESTIMONY BEFORE LEGISLATORS AND REGULATORS, SPEECHES AT CONFERENCES AND COMMENT LETTERS EXPRESSING INDUSTRY OPINIONS ON REGULATORY PROPOSALS. ICI ALSO PROVIDES REGULAR STATISTICAL RELEASES AND RESEARCH CONCERNING THE INDUSTRY AND ITS SHAREHOLDERS.

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

Listed in Part VII

  • Eric J Pan

    PRESIDENT & CEO

    Total calculated
    $2,849,370
    From this org
    $2,765,246
    From related orgs
    $0
    Other
    $84,124
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $1,503,310
    Bonus
    $1,236,984
    Other
    $24,952
    Deferred
    $41,400
    Nontaxable benefits
    $42,724
    Filer's total
    $2,849,370
  • Donald C Auerbach

    CHIEF OPERATING OFFICER

    Total calculated
    $1,039,018
    From this org
    $961,578
    From related orgs
    $0
    Other
    $77,440
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $714,304
    Bonus
    $222,210
    Other
    $25,064
    Deferred
    $47,046
    Nontaxable benefits
    $30,394
    Filer's total
    $1,039,018
  • John G Emling

    CHIEF GOVT. AFFAIRS OFFICER

    Total calculated
    $898,309
    From this org
    $817,385
    From related orgs
    $0
    Other
    $80,924
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $595,494
    Bonus
    $195,500
    Other
    $26,391
    Deferred
    $41,400
    Nontaxable benefits
    $39,524
    Filer's total
    $898,309
  • Michael N Pedroni

    CHIEF GLOBAL AFFAIRS OFFICER

    Total calculated
    $857,454
    From this org
    $773,330
    From related orgs
    $0
    Other
    $84,124
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $579,759
    Bonus
    $169,130
    Other
    $24,441
    Deferred
    $41,400
    Nontaxable benefits
    $42,724
    Filer's total
    $857,454
  • Susan M Olson

    FORMER GENERAL COUNSEL

    Total calculated
    $833,074
    From this org
    $753,523
    From related orgs
    $0
    Other
    $79,551
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $400,896
    Bonus
    $0
    Other
    $352,627
    Deferred
    $64,400
    Nontaxable benefits
    $15,151
    Filer's total
    $833,074
  • Dorothy M Donohue

    DEPUTY GENERAL COUNSEL

    Total calculated
    $748,819
    From this org
    $643,895
    From related orgs
    $0
    Other
    $104,924
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $498,383
    Bonus
    $136,577
    Other
    $8,935
    Deferred
    $64,400
    Nontaxable benefits
    $40,524
    Filer's total
    $748,819
  • Sean S Collins

    CHIEF ECONOMIST THRU 09/24

    Total calculated
    $722,276
    From this org
    $627,745
    From related orgs
    $0
    Other
    $94,531
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $466,065
    Bonus
    $142,958
    Other
    $18,722
    Deferred
    $64,400
    Nontaxable benefits
    $30,131
    Filer's total
    $722,276
  • Erica E Richardson

    CHIEF STRATEGIC COMM. OFFICER

    Total calculated
    $714,053
    From this org
    $642,522
    From related orgs
    $0
    Other
    $71,531
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $447,443
    Bonus
    $180,459
    Other
    $14,620
    Deferred
    $41,400
    Nontaxable benefits
    $30,131
    Filer's total
    $714,053
  • Thomas T Kim

    MANAGING DIRECTOR - IDC

    Total calculated
    $665,563
    From this org
    $584,862
    From related orgs
    $0
    Other
    $80,701
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $429,853
    Bonus
    $144,715
    Other
    $10,294
    Deferred
    $41,400
    Nontaxable benefits
    $39,301
    Filer's total
    $665,563
  • Paul Cellupica

    GENERAL COUNSEL

    Total calculated
    $624,091
    From this org
    $567,540
    From related orgs
    $0
    Other
    $56,551
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $420,024
    Bonus
    $143,360
    Other
    $4,156
    Deferred
    $41,400
    Nontaxable benefits
    $15,151
    Filer's total
    $624,091
  • Rochelle L Antoniewicz

    CHIEF ECONOMIST AS OF 10/24

    Total calculated
    $614,225
    From this org
    $533,524
    From related orgs
    $0
    Other
    $80,701
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $441,870
    Bonus
    $82,719
    Other
    $8,935
    Deferred
    $41,400
    Nontaxable benefits
    $39,301
    Filer's total
    $614,225
  • Rachel H Graham

    SECRETARY

    Total calculated
    $531,369
    From this org
    $426,212
    From related orgs
    $0
    Other
    $105,157
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $419,651
    Bonus
    $0
    Other
    $6,561
    Deferred
    $62,433
    Nontaxable benefits
    $42,724
    Filer's total
    $531,369
  • Mark A Delcoco

    CFO/TREASURER

    Total calculated
    $520,663
    From this org
    $413,770
    From related orgs
    $0
    Other
    $106,893
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $333,629
    Bonus
    $71,350
    Other
    $8,791
    Deferred
    $64,400
    Nontaxable benefits
    $42,493
    Filer's total
    $520,663
  • George H Walker

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 0.25 related
  • Yie-Hsin Hung

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    2
  • Omar Aguilar

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Andrew G Arnott

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • George Aylward

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Kathleen T Barr

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Seth P Bernstein

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Kamal Bhatia

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Stephanie G Braming

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Heather E Brilliant

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Pamela Carlton

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Jane K Carten

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Gale K Caruso

    MEMBER THRU 12/24

    Total calculated
    $0
    Hours/week
    1
  • James E Davey

    MEMBER THRU 12/24

    Total calculated
    $0
    Hours/week
    1
  • Greg Davis

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • David Dipetrillo

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • William Ebsworth

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Greg Frost

    MEMBER AS OF 01/25

    Total calculated
    $0
    Hours/week
    1
  • Daniel Gamba

    MEMBER THRU 09/25

    Total calculated
    $0
    Hours/week
    1
  • George Cw Gatch

    MEMBER

    Total calculated
    $0
    Hours/week
    2 + 0.25 related
  • Carol Geremia

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Peter J Germain

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • David L Giunta

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Ryan Hicke

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Mellody Hobson

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Cynthia Hostetler

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Bill Huffman

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Ben Huneke

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Naim Abou-Jaoude

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Gregory E Johnson

    MEMBER THRU 01/25

    Total calculated
    $0
    Hours/week
    2
  • James L Johnson Jr

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Jenny Johnson

    MEMBER AS OF 01/25

    Total calculated
    $0
    Hours/week
    1
  • Lisa M Jones

    MEMBER THRU 04/25

    Total calculated
    $0
    Hours/week
    1
  • Joanna F Jonsson

    MEMBER THRU 01/25

    Total calculated
    $0
    Hours/week
    2
  • Thomas C Kersting

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Kathyrn Koch

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Shawn K Lytle

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Mehdi Mahmud

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • James McNamara

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Michael A Mendelson

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Mark D Nerud

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Catherine L Newell

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • David Oestreicher

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Steven J Paggioli

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Stuart S Parker

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Cynthia R Plouche

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Karla Rabusch

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Martin Romo

    MEMBER AS OF 01/25

    Total calculated
    $0
    Hours/week
    1
  • Kristi L Rowsell

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Andrew R Schlossberg

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Douglas B Sieg

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Kristi Slavin

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Martin Small

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Marijn P Smit

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Peter G Strelow

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Bill Strickland

    MEMBER THRU 06/25

    Total calculated
    $0
    Hours/week
    1
  • Joseph Sullivan

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Gary Tenkman

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Jonathan S Thomas

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Garrett Thornburg

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Ronald E Toupin Jr

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • William F Truscott

    MEMBER

    Total calculated
    $0
    Hours/week
    2
  • Dawn Vroegop

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

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 · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, LINE 1A
PERSONAL SERVICES: THE ONLY PERSONAL SERVICE THAT IS PROVIDED IS FINANCIAL PLANNING TO ERIC J. PAN, DONALD C. AUERBACH, MICHAEL N. PEDRONI, JOHN G. EMLING, AND ERICA E. RICHARDSON. THIS AMOUNT IS INCLUDED IN TAXABLE INCOME.
SCHEDULE J, PART I, LINE 4
SUSAN OLSON, FORMER GENERAL COUNSEL, RECEIVED RETIREMENT PAYMENTS IN 2024 IN THE AMOUNT OF $348,959.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • ICI EDUCATION FOUNDATION

    501(c)(3) · INV EDUCATION · DE · controlled entity

    Directly controlled by ICI

  • ICI POLITICAL ACTION COMMITTEE

    527 · PAC · DE · controlled entity

    Directly controlled by ICI

Provenance

Return type
form_990
Tax year
2024
Filed
11 August 2026
IRS schema version
2024v5.2
Source object
202602249349300640

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.