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Nonprofiteer
← CONSOLIDATED AUDIT TRAIL LLC

Form 990 for tax year 2023

Filed by CONSOLIDATED AUDIT TRAIL LLC.

Totals

Total revenue
$0
Total expenses
$195,364,465
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$30,718,990
Total liabilities, end of year
$660,239,810
Net assets or fund balances, end of year
-$629,520,820
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.

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $5,634,670

  • 11c · Fees: accounting

    total $174,025

  • 11g · Fees: other

    total $625,073

  • 14 · Information technology

    total $174,889,070

  • 22 · Depreciation, depletion and amortization

    total $10,395,278

  • 23 · Insurance

    total $1,793,572

  • 24a · Other expenses: CONSULTING

    total $1,760,377

  • 24b · Other expenses: PUBLIC RELATIONS

    total $92,400

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,168,529 · end of year $170,169

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,107,649 · end of year $947,549

  • 14 · Intangible assets

    beginning of year $35,558,306 · end of year $29,601,272

  • 17 · Accounts payable and accrued expenses

    beginning of year $31,544,503 · end of year $28,493,474

  • 23 · Secured mortgages and notes payable

    beginning of year $442,446,336 · end of year $631,746,336

  • 27 · Net assets without donor restrictions

    beginning of year -$434,156,355 · end of year -$629,520,820

Mission and programs · 2023

Mission

EFFECTIVE OCTOBER 1, 2012, THE SECURITIES AND EXCHANGE COMMISSION ("SEC") ADOPTED RULE 613 UNDER THE SECURITIES EXCHANGE ACT OF 1934 ("RULE 613") TO CREATE A CONSOLIDATED AUDIT TRAIL (THE "CAT SYSTEM") THAT WOULD ALLOW REGULATORS TO EFFICIENTLY AND ACCURATELY TRACK ALL ACTIVITY THROUGHOUT THE U.S. MARKETS IN NATIONAL MARKET SYSTEM ("NMS") SECURITIES. AMONG OTHER THINGS, THE RULE REQUIRED THE NATIONAL SECURITIES EXCHANGES AND THE FINANCIAL INDUSTRY REGULATORY AUTHORITY ("FINRA"), COLLECTIVELY THE SELF-REGULATORY ORGANIZATIONS, ("SROS OR "MEMBERS") TO JOINTLY SUBMIT A PLAN, CALLED AN NMS PLAN, TO CREATE, IMPLEMENT AND MAINTAIN A CONSOLIDATED AUDIT TRAIL OF THE NMS ACTIVITY. RULE 613 SPECIFIES THE TYPE OF DATA TO BE COLLECTED AND WHEN THE DATA IS TO BE REPORTED TO A CENTRAL REPOSITORY. THE ORGANIZATION'S PRINCIPAL PURPOSE IS TO CREATE, IMPLEMENT AND MAINTAIN A CONSOLIDATED AUDIT TRAIL PURSUANT TO RULE 613.

Activities or mission (Part I)

SEE DESCRIPTION REPORTED ON SCHEDULE O.

  • DEVELOPMENT OF SOFTWARE. AS OF 07/31/2023, COMPLETION OF DATA PIPELINE AND DATA STORE FIXES ("LOAD ALL DATA") DEPLOYED TO PRODUCTION

  • DEVELOPMENT OF SOFTWARE. AS OF 12/04/2023, COMPLETION OF REGULATOR PORTAL FUNCTIONAL DEFECTS REMEDIATED.

  • DEVELOPMENT OF SOFTWARE. AS OF 12/11/2023, COMPLETION OF HISTORICAL DATA LOAD AND DATA FIXES IN INDUSTRY TEST ENVIRONMENT ("MAKE DATA WHOLE")

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Elizabeth King

    OPERATING COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Edward Deitzel

    OPERATING COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Bruce Goodhue

    OPERATING COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Jeff Connell

    OPERATING COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Jon Kroeper

    OPERATING COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    3

  • John Ramsay

    OPERATING COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Cindy Retterer

    OPERATING COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Zoran Perkov

    OPERATING COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Anders Franzon

    OPERATING COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    3

  • Michael Simon Eff 21423

    CHAIR EMERITUS

    Total calculated
    $82,622
    From this org
    $82,622
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • David Yacono

    CHIEF INFORMATION SECURITY

    Total calculated
    $555,249
    From this org
    $449,948
    From related orgs
    $0
    Other
    $105,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $287,480
    Bonus
    $160,000
    Other
    $2,468
    Deferred
    $64,767
    Nontaxable benefits
    $40,534
    Filer's total
    $555,249

  • A Duer Meehan

    CHIEF COMPLIANCE OFFICER

    Total calculated
    $838,055
    From this org
    $756,953
    From related orgs
    $0
    Other
    $81,102
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $339,172
    Bonus
    $225,000
    Other
    $192,781
    Deferred
    $42,900
    Nontaxable benefits
    $38,202
    Filer's total
    $838,055

  • Brandon Becker Eff 21423

    CHAIR, OPERATING COMMITTEE

    Total calculated
    $139,370
    From this org
    $139,370
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.5

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
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART I, LINE 4B:
A. DUER MEEHAN PARTICIPATES IN THE SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN, WHICH IS A NONQUALIFIED DEFINED CONTRIBUTION PLAN, ADMINISTERED BY FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC., THE PARENT ORGANIZATION OF FINRA CAT. THE PLAN HAS A 3 YEAR VESTING CYCLE WITH ANNUAL VESTING BEGINNING AT AGE 62. MR. MEEHAN HAD A VESTING IN 2023 IN THE AMOUNT OF $166,267 WHICH IS REPORTED IN COLUMN B(III).
FORM 990, SCHEDULE J, PART II, LINES 1 - 2:
EMPLOYMENT COMPENSATION FOR THE CHIEF INFORMATION SECURITY OFFICER AND THE CHIEF COMPLIANCE OFFICER REPORTED IN THIS RETURN WAS PAID BY AN UNRELATED ORGANIZATION, FINRA CAT, LLC, FOR SERVICES RENDERED TO CONSOLIDATED AUDIT TRAIL, LLC.

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
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202443039349301099

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