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Nonprofiteer
← MODERN MARKETS INITIATIVE INC

Form 990 for tax year 2023

Filed by MODERN MARKETS INITIATIVE INC.

What the amendment changed

Compared with the return it replaced , filed 2 May 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
$0
Total expenses
$803,916
Contributions and grants received
$0
Grants paid
$118,994
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$803,916
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$803,916

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.

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $118,994 · program services $118,994

  • 5 · Compensation of officers, directors and key employees

    total $499,808 · program services $499,808

  • 8 · Pension plan contributions

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

  • 9 · Other employee benefits

    total $26,308 · program services $26,308

  • 10 · Payroll taxes

    total $19,589 · program services $19,589

  • 11c · Fees: accounting

    total $38,160 · program services $38,160

  • 11g · Fees: other

    total $34,292 · program services $34,292

  • 13 · Office expenses

    total $4,183 · program services $4,183

  • 17 · Travel

    total $3,078 · program services $3,078

  • 23 · Insurance

    total $1,035 · program services $1,035

  • 24a · Other expenses: CONTINUING PROFESSIONAL

    total $25,000 · program services $25,000

  • 24b · Other expenses: OFFICE EXPENSE

    total $11,476 · program services $11,476

  • 24c · Other expenses: SUBSCRIPTIONS

    total $10,818 · program services $10,818

  • 24d · Other expenses: MEALS

    total $3,459 · program services $3,459

  • 24e · All other expenses

    total $3,716 · program services $3,716

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $801,916 · end of year $0

  • 2 · Savings and temporary cash investments

    end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $2,000 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $803,916 · end of year $0

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 POLICY CIRCLES. IT PLAYED A PIVOTAL ROLE IN PROMOTING AND DISTRIBUTING INFORMATIONAL MATERIAL, DRAFTING OP-EDS, STUDIES, COMMENT LETTERS AND REPORTS ON MARKET STRUCTURE, TECHNOLOGY INNOVATION, AND BENEFITS OF AUTOMATED TRADING. MMI LEADERS SPOKE AT INDUSTRY EVENTS, PUBLIC FORUMS, AND GATHERINGS TO CONDUCT EDUCATIONAL OUTREACH WITH MEMBERS OF THE SAVINGS AND FINTECH INNOVATION COMMUNITIES.

    Expenses $803,916 · Grants $118,994

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
    $499,808
    From this org
    $499,808
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $322,308
    Bonus
    $177,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $499,808

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

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

  • No recipient named

    $2,000

    Liquidation · $2,000 EXPENSE, WRITE OFF OF DEPOSIT. · Jul 15, 2024

Provenance

Return type
form_990
Tax year
2023
Filed
5 September 2024
IRS schema version
2023v5.1
Source object
202402499349301340

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