Form 990 for tax year 2022
Filed by SIFMA FOUNDATION FOR INVESTOR EDUCATION FIE INC.
Totals
- Total revenue
- $5,227,293
- Total expenses
- $5,350,848
- Contributions and grants received
- $4,609,074
- Grants paid
- $1,500
- Program service revenue
- $364,345
- Investment income
- $253,874
- Other revenue
- $0
- Total assets, end of year
- $10,295,181
- Total liabilities, end of year
- $784,448
- Net assets or fund balances, end of year
- $9,510,733
- Program services expenses (Part IX)
- $4,548,317
- Management and general expenses
- $558,848
- Fundraising expenses
- $243,683
- Program service expenses (Part III)
- $4,548,317
Program services were 85.0% 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.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$1,257,323
-
1f · All other contributions, gifts and grants
$3,351,751
-
2a · Program service revenue: SMG PROCESSING FEE
total $364,345 · related or exempt $364,345
-
3 · Investment income
total $253,874 · excluded $253,874
-
8a · Fundraising events: gross income
$193,648
-
8a · Fundraising events: contributions included on line 1c
$1,257,323
-
8b · Fundraising events: direct expenses
$193,648
-
8c · Net income from fundraising events
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $1,500 · program services $1,500
-
5 · Compensation of officers, directors and key employees
total $494,611 · program services $222,575 · management and general $222,575 · fundraising $49,461
-
7 · Other salaries and wages
total $2,187,300 · program services $1,821,447 · management and general $221,138 · fundraising $144,715
-
8 · Pension plan contributions
total $196,822 · program services $186,241 · management and general $6,500 · fundraising $4,081
-
9 · Other employee benefits
total $260,191 · program services $172,595 · management and general $58,667 · fundraising $28,929
-
10 · Payroll taxes
total $168,441 · program services $133,747 · management and general $22,120 · fundraising $12,574
-
11c · Fees: accounting
total $23,310 · management and general $23,310
-
11g · Fees: other
total $653,287 · program services $653,287
-
13 · Office expenses
total $25,116 · program services $22,371 · management and general $2,745
-
14 · Information technology
total $919,751 · program services $919,109 · management and general $642
-
17 · Travel
total $22,691 · program services $22,445 · management and general $172 · fundraising $74
-
19 · Conferences, conventions and meetings
total $387,535 · program services $383,092 · management and general $594 · fundraising $3,849
-
24a · Other expenses: DUES & REGISTRATION
total $6,603 · program services $6,523 · management and general $80
-
24b · Other expenses: SUBSCRIPTION AND BOOKS
total $2,398 · program services $2,093 · management and general $305
-
24c · Other expenses: MISC. EXPENSES
total $1,292 · program services $1,292
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $194,395 · end of year $331,468
-
2 · Savings and temporary cash investments
beginning of year $411,018 · end of year $350,288
-
4 · Accounts receivable
beginning of year $608,500 · end of year $1,525,783
-
11 · Investments: publicly traded securities
beginning of year $8,894,314 · end of year $8,062,238
-
15 · Other assets
beginning of year $9,653 · end of year $25,404
-
17 · Accounts payable and accrued expenses
beginning of year $246,724 · end of year $213,330
-
25 · Other liabilities
beginning of year $521,744 · end of year $571,118
-
27 · Net assets without donor restrictions
beginning of year $9,016,078 · end of year $8,329,781
-
28 · Net assets with donor restrictions
beginning of year $333,334 · end of year $1,180,952
Mission and programs · 2022
Mission
THE SIFMA FOUNDATION FOSTERS KNOWLEDGE AND UNDERSTANDING OF THE FINANCIAL MARKETS FOR INDIVIDUALS OF ALL BACKGROUNDS. (CONTINUED ON SCHEDULE O)DRAWING ON THE SUPPORT AND EXPERTISE OF THE FINANCIAL INDUSTRY AND EDUCATORS, THE SIFMA FOUNDATION'S ACCLAIMED FINANCIAL EDUCATION PROGRAMS AND TOOLS STRENGTHEN ECONOMIC OPPORTUNITY ACROSS COMMUNITIES AND INCREASE INDIVIDUALS' AWARENESS OF AND ACCESS TO THE BENEFITS OF THE GLOBAL MARKETPLACE. THE SIFMA FOUNDATION FILLS CRITICAL GAPS IN FINANCIAL EDUCATION FOR SCHOOLS, COMMUNITIES AND FAMILIES; ADVANCES ECONOMIC EQUITY FOR YOUTH OF ALL BACKGROUNDS; AND PREPARES THE FUTURE WORKFORCE. THOUSANDS OF INDUSTRY EXPERTS VOLUNTEER EACH YEAR WITH SIFMA FOUNDATION PROGRAMS TO SHARE THEIR REAL-WORLD INSIGHTS ON PERSONAL FINANCE, WORKFORCE READINESS, AND FINANCIAL CAREERS.
Activities or mission (Part I)
SEE SCHEDULE O
-
SEE SCHEDULE OTHE STOCK MARKET GAME (TM)THE SIFMA FOUNDATION'S FLAGSHIP INITIATIVE, THE STOCK MARKET GAME (TM), IS A CURRICULUM BASED FINANCIAL EDUCATION PROGRAM THAT VIRTUALLY SIMULATES GLOBAL CAPITAL MARKETS TO ENGAGE YOUTH IN THE WORLD OF ECONOMICS, INVESTING AND PERSONAL FINANCE, AND PREPARES THEM FOR FINANCIALLY INDEPENDENT FUTURES. MORE THAN 600,000 YOUTH TAKE PART EVERY YEAR ACROSS ALL 50 STATES. THE STOCK MARKET GAME HAS REACHED MORE THAN 23 MILLION SINCE ITS INCEPTION IN 1977.INVESTWRITE (R)THE SIFMA FOUNDATION'S INVESTWRITE (R) NATIONAL ESSAY COMPETITION EXTENDS WHAT YOUTH LEARN IN THE STOCK MARKET GAME BY CHALLENGING THEM TO CONSIDER A LONG-TERM INVESTMENT SCENARIO AND PROPOSE ANALYST-STYLE PORTFOLIO RECOMMENDATIONS. PARTICIPANTS USE RESEARCH, CRITICAL THINKING, AND WRITING SKILLS TO ADDRESS REAL WORLD FINANCIAL ISSUES AND CURRENT EVENTS. A NEW THEME AND QUESTION ARE POSED EACH SEMESTER. SINCE THE PROGRAM BEGAN IN 2004, MORE THAN 260,000 ESSAYS HAVE BEEN WRITTEN IN CLASSROOMS ACROSS THE COUNTRY AND ALMOST 50,000 FINANCIAL PROFESSIONALS HAVE VOLUNTEERED TO SERVE AS JUDGES IN THE WRITING COMPETITION.CAPITOL HILL CHALLENGE (TM)THE SIFMA FOUNDATION'S ANNUAL CAPITOL HILL CHALLENGE (TM) (CHC), PRESENTED BY THE CHARLES SCHWAB FOUNDATION, IS A NATIONAL FINANCIAL EDUCATION COMPETITION FOR UNDERSERVED JUNIOR HIGH AND HIGH SCHOOLS THAT REACHES ALL 50 US STATES AND THEIR MEMBERS OF CONGRESS IN EVERY US CONGRESSIONAL DISTRICT. CHC ENHANCES PARTICIPANTS' FINANCIAL AND CIVICS EDUCATION THROUGH MATCHING MEMBERS OF CONGRESS WITH STUDENTS, TEACHERS, AND SCHOOLS COMPETING IN THE STOCK MARKET GAME (TM) IN THEIR RESPECTIVE DISTRICT OR STATE. STUDENT TEAMS MANAGE A HYPOTHETICAL $100,000 ONLINE PORTFOLIO AND INVEST IN REAL STOCKS, BONDS, AND MUTUAL FUNDS. SINCE ITS INCEPTION IN 2004, CHC HAS MADE ALMOST 7,500 MATCHES OF U.S. REPRESENTATIVES AND SENATORS WITH SCHOOLS, ENCOMPASSING MORE THAN 170,000 STUDENTS ACROSS THE COUNTRY.INVEST IT FORWARD (R)INVEST IT FORWARD (R) IS AN AWARD-WINNING INDUSTRY-WIDE FINANCIAL EDUCATION AND CAPITAL MARKETS LITERACY CAMPAIGN CONVENING HUNDREDS OF FINANCIAL FIRMS TO FOSTER CAREER EXPLORATION AND INDUSTRY PARTNERSHIPS FOR YOUTH AND EDUCATORS. VOLUNTEERS FROM THE PRIVATE SECTOR PARTNER WITH SCHOOLS TO EXPOSE YOUTH TO NEW CAREER PATHWAYS AND DEEPEN THEIR UNDERSTANDING OF THE FINANCIAL SECTOR AND OPPORTUNITIES. INVEST IT FORWARD IS DESIGNED TO HELP YOUNG PEOPLE UNDERSTAND HOW TO HARNESS THE CAPITAL MARKETS FOR THEIR OWN BENEFIT AND OPEN UP NEW OPPORTUNITIES FOR THEIR FUTURES.
Expenses $4,548,317 · Grants $1,500 · Revenue $364,345
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Richard J DalyRICHARD J DALY
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Lawrence ThomasLAWRENCE THOMAS
VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Lisa Kidd HuntLISA KIDD HUNT
VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Todd DiganciTODD DIGANCI
TREASURER
- Total calculated
- $0
- Hours/week
- 1.5
-
James AllenJAMES ALLEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James AndersonJAMES ANDERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Lisa BleierLISA BLEIER
DIRECTOR (AS OF 10/2022)
- Total calculated
- $0
- Hours/week
- 1
-
Kenneth CellaKENNETH CELLA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bryan ChristianBRYAN CHRISTIAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Vanessa CookseyVANESSA COOKSEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David DawkinsDAVID DAWKINS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Rupa DhariaRUPA DHARIA
DIRECTOR (THRU 08/2023)
- Total calculated
- $0
- Hours/week
- 1
-
Vlad KhandrosVLAD KHANDROS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kristen KimmellKRISTEN KIMMELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Michael KisberMICHAEL KISBER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Evan LahutaEVAN LAHUTA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Shareen LuzeSHAREEN LUZE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Joseph E SweeneyJOSEPH E SWEENEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Susan ThederSUSAN THEDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Melanie MortimerMELANIE MORTIMER
PRESIDENT, SECRETARY
- Total calculated
- $474,934
- From this org
- $418,214
- From related orgs
- $0
- Other
- $56,720
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $332,524
- Bonus
- $83,758
- Other
- $1,932
- Deferred
- $36,600
- Nontaxable benefits
- $20,120
- Filer's total
- $474,934
-
Elizabeth ReidelELIZABETH REIDEL
MANAGING DIRECTOR
- Total calculated
- $282,007
- From this org
- $206,688
- From related orgs
- $0
- Other
- $75,319
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $177,898
- Bonus
- $27,800
- Other
- $990
- Deferred
- $26,135
- Nontaxable benefits
- $49,184
- Filer's total
- $282,007
-
Michelle NoguchiMICHELLE NOGUCHI
VICE PRESIDENT
- Total calculated
- $228,242
- From this org
- $185,930
- From related orgs
- $0
- Other
- $42,312
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $166,776
- Bonus
- $16,500
- Other
- $2,654
- Deferred
- $22,612
- Nontaxable benefits
- $19,700
- Filer's total
- $228,242
-
Benjamin SawyerBENJAMIN SAWYER
MANAGING DIRECTOR
- Total calculated
- $205,926
- From this org
- $188,569
- From related orgs
- $0
- Other
- $17,357
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $176,148
- Bonus
- $12,000
- Other
- $421
- Deferred
- $5,698
- Nontaxable benefits
- $11,659
- Filer's total
- $205,926
-
Nancy KahnNANCY KAHN
VICE PRESIDENT
- Total calculated
- $224,413
- From this org
- $166,608
- From related orgs
- $0
- Other
- $57,805
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $140,577
- Bonus
- $21,000
- Other
- $5,031
- Deferred
- $20,382
- Nontaxable benefits
- $37,423
- Filer's total
- $224,413
-
Vincent YoungVINCENT YOUNG
ASSISTANT VICE PRESIDENT
- Total calculated
- $202,370
- From this org
- $132,162
- From related orgs
- $0
- Other
- $70,208
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $111,601
- Bonus
- $18,600
- Other
- $1,961
- Deferred
- $17,246
- Nontaxable benefits
- $52,962
- Filer's total
- $202,370
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 · Compensation committee
- 3 · Independent compensation consultant
- 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 7:
- NON-FIXED PAYMENTS THE BONUS IS BASED ON PERFORMANCE WHICH IS EVALUATED DURING AN ANNUAL EMPLOYEE REVIEW PROCESS THAT IS REVIEWED AND APPROVED BY THE BOARD.
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
- 2022
- Filed
- 11 September 2024
- IRS schema version
- 2022v5.0
- Source object
- 202442559349301204
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