2023-11-15T13:54:28+00:00 2022-12-31 346565596 ERNST & YOUNG US LLP 221 E 4TH STREET SUITE 2900 CINCINNATI OH 45202 990 2022-01-01 200863779 FINRA Investor Education Foundation FINR 2027288949 9509 KEY WEST AVENUE ROCKVILLE MD 20850 ROBERT W COOK CHAIRMAN AND CEO 2023-11-15 true ROBERT RENNER 999009999 Julie L Sparks P01268401 5136121400 2019-11-14 2022 2023-04-26 12:10:37Z Geraldine M Walsh 1700 K STREET NW WASHINGTON DC 200061506 23854540 false X WWW.FINRAFOUNDATION.ORG X 2004 DE THE MISSION IS TO EMPOWER UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS TO MAKE SOUND FINANCIAL DECISIONS THROUGHOUT LIFE. 6 5 0 5 0 0 203649 5860131 0 0 1763625 3987763 0 0 1967274 9847894 308323 557298 0 0 0 0 0 0 0 2813816 3689172 3122139 4246470 -1154865 5601424 76661608 68490035 380243 584888 76281365 67905147 X THE MISSION IS TO EMPOWER UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS TO MAKE SOUND FINANCIAL DECISIONS THROUGHOUT LIFE. false false 2061734 437901 FOSTER SUSTAINABLE, INCLUSIVE FINANCIAL CAPABILITY IN COMMUNITIES OF NEED, AT THE WORKPLACE, AND IN THE MILITARY - See Schedule O 1088980 109099 UNDERTAKE AND SUPPORT RESEARCH TO IMPROVE CONSUMER FINANCIAL OUTCOMES - See Schedule O 743120 PROTECT CONSUMERS FROM FINANCIAL FRAUD AND AMELIORATE THE CONSEQUENCES OF FRAUD - See Schedule O 172519 10298 COMMUNICATE RESEARCH FINDINGS AND INNOVATIONS. THE FOUNDATION LEVERAGES ONLINE, SOCIAL MEDIA, PRINT, AND IN-PERSON DISTRIBUTION CHANNELS TO ADVANCE THE FINANCIAL INCLUSION AND CAPABILITY OF UNDERSERVED GROUPS AND TO PROVIDE DECISION-MAKERS WITH AN EMPIRICAL UNDERSTANDING OF FINANCIAL INCLUSION/EXCLUSION IN THE U.S. THE FOUNDATION PUBLISHES NFCS DATA SETS, METHODOLOGICAL DOCUMENTS, AND FINDINGS IN USER-FRIENDLY FORMATS, PARTICIPATES IN AND DIRECTS RESEARCH AND OTHER PROFESSIONAL FORUMS, AND PROMOTES THE WORK OF BOTH SEASONED LEADERS AND YOUNG RESEARCHERS ACTIVE IN THE FIELD OF FINANCIAL CAPABILITY. IN FURTHERANCE OF THIS GOAL, THE FOUNDATION MAINTAINS ALLIANCES WITH FEDERAL AGENCIES, STATE GOVERNMENT, MUNICIPALITIES, AND LEADING NONPROFIT ORGANIZATIONS ACTIVE IN THE FIELD OF FINANCIAL CAPABILITY. 172519 10298 4066353 false true false false false false false false true false true false false true true true true false false true false false false false false false true true true false false false false false false false false false false false false false true false false true X 17 0 true 0 false false false false false false false false X 6 5 false false false false true true true true true false false true true true true true true false false false X Jennifer P Mitchell 2027288949 1700 K Street NW Washington DC 200061506 John W Thiel Board Member 1.0 2.0 X 0 40000 0 Laura Fisher Board Member 1.0 0 X 0 0 0 Mari J Buechner Board Member 1.0 0 X 0 0 0 MENEKSE GENCER BOARD MEMBER - AS OF 4/12 1.0 0 X 0 0 0 PEGGY HO BOARD MEMBER - AS OF 5/24 1.0 2.0 X 0 100687 0 Robert W Cook Chairman 1.0 59.0 X 0 4062829 213888 Eileen M Famiglietti Treasurer 6.0 54.0 X 0 468407 74199 Geraldine M Walsh President 48.0 12.0 X 0 735700 51263 Jennifer P Mitchell Corporate Secretary 3.0 57.0 X 0 461509 75427 0 5869132 414777 0 false true false ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION 79 S STATE STREET WESTERVILLE OH 43081 SEE SCHEDULE O 352868 GIRL SCOUTS OF THE USA PO BOX 5046 NEW YORK NY 10087 SEE SCHEDULE O 350000 SARD VERBINNEN & CO LLC 900 THIRD AVENUE NEW YORK NY 10022 SEE SCHEDULE O 200000 CYBERCRIME SUPPORT NETWORK 21001 NORTH TATUM BLVD PHOENIX AZ 85050 SEE SCHEDULE O 185000 AMERICAN LIBRARY ASSOCIATION 225 N MICHIGAN AVENUE CHICAGO IL 60601 SEE SCHEDULE O 175614 10 0 0 0 5860131 0 0 0 5860131 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 974509 0 0 974509 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 17019900 0 14006646 0 3013254 0 3013254 0 0 3013254 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9847894 0 0 3987763 X 547000 547000 10298 10298 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 38066 0 38066 0 0 0 0 0 0 0 86230 0 86230 0 3176287 3163287 13000 0 89378 89378 0 0 9074 6702 2372 0 29714 27885 1829 0 0 0 0 0 0 0 0 0 88058 55924 32134 0 0 0 0 0 117091 117091 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Dues/Membership Fee 15110 13425 1685 0 PUBLICATIONS/PRINTING 35363 35363 0 0 4801 0 4801 0 4246470 4066353 180117 0 749253 832312 0 0 0 0 0 5840 0 0 0 0 0 0 0 0 19002 24761 0 0 0 0 63897458 55316022 11820615 12229105 0 0 0 175280 81995 76661608 68490035 379522 582188 0 0 0 0 0 0 0 0 0 0 0 0 0 0 721 2700 380243 584888 76201774 67829636 79591 75511 X 0 0 0 0 0 0 76281365 67905147 76661608 68490035 X 5601424 -13977642 2958414 86230 -3044644 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 79591 0 920 5000 0 0 75511 84568 0 23 5000 0 0 79591 89123 0 445 5000 0 0 84568 92161 0 1962 5000 0 0 89123 95628 0 1533 5000 0 0 92161 0.0 0.0 1.0 false false Pooled Investment Funds 12229105 F 12229105 DUE TO RELATED ORGANIZATION 2700 2700 X -1257564 -13977642 2958414 0 0 -11019228 9761664 86230 0 86230 9847894 7118654 2958414 0 0 0 2958414 4160240 86230 0 86230 4246470 Schedule D, Part V, Line 4 Intended uses of endowment funds IN 2016, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. (FINRA) CONTRIBUTED A ONE-TIME DONOR-RESTRICTED CONTRIBUTION OF $0.1 MILLION TO THE FINRA INVESTOR EDUCATION FOUNDATION, INC. (THE FOUNDATION) . THE DONOR-RESTRICTED CONTRIBUTION FUNDED THE KETCHUM PRIZE FUND, NAMED FOR FORMER FINRA CHAIRMAN AND CHIEF EXECUTIVE OFFICER AND FOUNDATION CHAIRMAN RICHARD G. KETCHUM, TO AWARD AN ANNUAL PRIZE IN HONOR OF THE EXEMPLARY CONTRIBUTIONS TO THE FIELD OF INVESTOR PROTECTION AND FINANCIAL CAPABILITY IN THE UNITED STATES. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The Foundation is a tax-exempt organization under Section 501(c)(4) of the Internal Revenue Code and, accordingly, has made no provision for Federal or State income taxes. For the years ended December 31, 2019, through December 31, 2022, which represent the periods management considers to be open for examination by taxing authorities, management did not identify the existence of any uncertain tax positions. Central America and the Caribbean 0 0 Investments 12229105 0 0 0 0 0 0 12229105 0 12229105 true false true false false false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual true Barry County United Way 231 S Broadway Hastings MI 49058 386062803 501(C)(3) 20000 0 N/A N/A To advance sustainable workplace financial wellness services and education for lower-income employees. Buffalo & Erie County Public Library 1 Lafayette Square Buffalo NY 14203 166032029 501(C)(3) 22798 0 N/A N/A To provide and coordinate basic financial education for lower-income families, immigrant and refugee populations, and recently incarcerated individuals who are reintegrating into society and the local economy. Catholic Charities Diocese of Fort Worth 249 W Thornhill Drive Ft Worth TX 76115 750808769 501(C)(3) 20000 0 N/A N/A To advance sustainable workplace financial wellness services and education for lower-income employees. Catholic Charities of Northeast Kansas 9720 West 87th Street Overland Park KS 55212 481181305 501(C)(3) 20000 0 N/A N/A To advance sustainable workplace financial wellness services and education for lower-income employees. Clayton Collaborative Authority 696 Mount Zion Road Jonesboro GA 30236 582516726 501(C)(3) 25000 0 N/A N/A To enable the Clayton County Library System to leverage interest in the region's well-established film industry to engage youth, adults, and entrepreneurs in a variety of activity-based financial education experiences, thereby integrating financial education and workforce development. EBRI Education and Research Fund 901 D Street NW Washington DC 20024 521190398 501(C)(3) 23748 0 N/A N/A To research how out-of-pocket healthcare spending is trending in the United States and to examine the degree to which the rising costs that patients face are a manifestation of changes to health insurance plan design, increasing overall healthcare costs, or other factors. Kenosha Public Library 7979 38th Avenue Kenosha WI 53142 396091654 SEC 115 25000 0 N/A N/A To expand financial education and financial coaching in low-income and underserved communities, focusing especially on topics such as banking, credit, budgeting, and managing debt. Memorial Library of Nazareth and Vicinity 295 East Center Street Nazareth PA 18064 246019434 501(C)(3) 10788 0 N/A N/A To deliver a diverse array of sustainable financial capability experiences for children, teens, and adults, with programs on preparing financially for college; saving money (for emergencies, major purchases, and long-term goals); the psychology of money; managing debt; and credit health. Mexico Sustainability Project 100 West Jackson Street Mexico MO 65265 842170979 501(C)(3) 20000 0 N/A N/A To advance sustainable workplace financial wellness services and education for lower-income employees. Orange County Library System 101 East Central Boulevard Orlando FL 32801 592045143 501(C)(3) 24965 0 N/A N/A To collaborate with the University of Central Florida to help English language learners acquire essential personal finance skills and knowledge through instruction that engages participants in a variety of listening, speaking, writing, and practice exercises that make unfamiliar financial concepts as concrete as possible. Research Foundation of the City University of New York 230 W 41st Street New York NY 10036 131988190 501(C)(3) 24819 0 N/A N/A To support LaGuardia Community College Library's efforts to provide financial and investor education to college students and the wider community using Open Educational Resources in multiple languages, thereby empowering underserved groups to make informed financial choices. Rise Foundation 1355 Lynnfield Street Memphis TN 38119 311712061 501(C)(3) 20000 0 N/A N/A To advance sustainable workplace financial wellness services and education for lower-income employees. Sara Hightower Regional Library 205 Riverside Parkway Rome GA 30161 586002877 SEC 115 25000 0 N/A N/A To partner with the University of West Georgia's Center for Economic Education and Financial Literacy to deliver customized financial education for adults and teens in collaboration with existing social service initiatives maintained by local nonprofits and government agencies. The Board of Trustees of the Leland Stanford Junior University 485 Broadway Redwood City CA 94063 941156365 501(C)(3) 57143 0 N/A N/A To study household financial resilience in the United States from the Great Recession to the onset of the COVID-19 pandemic (2008 to 2020) and to examine factors affecting financial stability, especially among financially vulnerable groups. The Free Library of Philadelphia Foundation 1901 Vine Street Philadelphia PA 19103 521173474 501(C)(3) 9541 0 N/A N/A To expand the availability of reliable personal finance and fraud prevention information resources for a community recovering from a FEMA-declared major natural disaster. United Way of Geauga County 209 Center Street Chardon OH 44024 205575556 501(C)(3) 20000 0 N/A N/A To advance sustainable workplace financial wellness services and education for lower-income employees. United Way of Greater Atlanta 40 Courtland Street Atlanta GA 30303 580566194 501(C)(3) 20000 0 N/A N/A To advance sustainable workplace financial wellness services and education for lower-income employees. University of Puerto Rico 14 Ave Universidad San Juan PR 00925 660433760 501(C)(3) 28208 0 N/A N/A To undertake research about the financial capability of Hispanic people in the United States, both as a single cohort and disaggregated by heritage. United Way of Trumbull County 3601 Youngstown Road Warren OH 44484 341083629 501(C)(3) 20000 0 N/A N/A To advance sustainable workplace financial wellness services and education for lower-income employees. Cabell County Public Library 455 9th Street Huntington WV 25701 556009586 501(C)(3) 9852 0 N/A N/A To expand the personal finance collections of the Cabell County Public Library, Mingo County Public Library, and Wayne County Public Libraries and share fraud prevention messages to help residents make well-informed financial decisions following a FEMA-declared major natural disaster in the region. 20 0 2022 KETCHUM PRIZE FOR OUTSTANDING SERVICE AND RESEARCH TO ADVANCE INVESTOR PROTECTION AND FINANCIAL CAPABILITY IN THE U.S. 1 10000 298 FMV PLAQUE Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. FOLLOWING APPROVAL OF A GRANT APPLICATION BY THE BOARD OF DIRECTORS, THE FOUNDATION EXECUTES A GRANT AGREEMENT WITH THE APPLICANT. THIS AGREEMENT SPECIFIES THE TERMS AND CONDITIONS OF THE GRANT, AS WELL AS THE REPORTING AND PAYMENT SCHEDULE. NARRATIVE AND FINANCIAL PROGRESS REPORTS AND ALL DELIVERABLES ARE REVIEWED BY THE FOUNDATION TO ENSURE QUALITY AND COMPLIANCE WITH THE GRANT AGREEMENT. IN ADDITION TO PROGRESS REPORTS, GRANTEES ARE REQUIRED TO COMPLETE A FINAL NARRATIVE AND FINANCIAL REPORT DETAILING PROJECT OUTCOMES AND ACCOUNTING FOR THE USE OF FUNDS. false true false false false false false false false Robert W Cook Chairman 0 977146 0 2150000 0 935683 0 206317 0 7571 0 4276717 0 600040 Eileen M Famiglietti Treasurer 0 307282 0 155000 0 6125 0 34425 0 39774 0 542606 0 0 Jennifer P Mitchell Corporate Secretary 0 264649 0 187500 0 9360 0 32645 0 42782 0 536936 0 0 Geraldine M Walsh President 0 347280 0 202500 0 185920 0 39650 0 11613 0 786963 0 102142 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan FINRA'S SUPPLEMENTAL DEFINED CONTRIBUTION PLAN IS A NON-QUALIFIED PLAN THAT IS OPEN TO VICE PRESIDENTS AND ABOVE WITH AN ANNUAL BASE PAY ABOVE THE QUALIFIED LIMIT. IT IS ONLY OPEN TO THOSE NOT PARTICIPATING IN THE CLOSED NON-QUALIFIED DEFINED BENEFIT PLAN. IT IS A FINRA-FUNDED PLAN WITH A THREE YEAR VESTING CYCLE WITH ANNUAL VESTING BEGINNING AT AGE 62. PARTICIPANTS IN THE SUPPLEMENTAL NON-QUALIFIED DEFINED CONTRIBUTION PLAN WHO HAD A VESTING EVENT OR RECEIVED A PAYOUT DURING TAX YEAR 2022: Robert W. Cook $902,182 (vesting) Geraldine A. Walsh - $158,528 (vesting) Schedule J, Part I, Line 3 THE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. ALL SERVICES ARE PROVIDED BY EMPLOYEES OF FINRA OR ITS SUBSIDIARIES. THE FOUNDATION DOES NOT COMPENSATE THESE EMPLOYEES FOR THEIR SERVICES. Line 3) COMPENSATION FOR THE CEO/EXECUTIVE DIRECTOR IS ESTABLISHED AT AND PAID BY THE PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. FOR FURTHER DETAILS REGARDING COMPENSATION OF OFFICERS, PLEASE REFER TO THE 2022 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 OF THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. Form 990, Part III, Line 4a FOSTER SUSTAINABLE, INCLUSIVE FINANCIAL CAPABILITY (2022 ALLOCATION - $2,061,734 INCLUDING GRANTS OF $437,901). THE FOUNDATION SUPPORTS AND MANAGES PERSONAL FINANCE PROGRAMS, PROFESSIONAL TRAINING, AND SERVICES TO ASSIST A WIDE VARIETY OF AUDIENCES IN COMMUNITIES OF NEED, AT THE WORKPLACE, AND IN THE MILITARY. THESE EFFORTS COMPRISE INCLUSIVE AND INNOVATIVE INITIATIVES THAT IMPROVE FINANCIAL STABILITY, FINANCIAL PLANNING, INVESTING KNOWLEDGE AND DECISION-MAKING, PARTICIPATION IN THE CAPITAL MARKETS, AND EQUITABLE ACCESS TO FINANCIAL CAPABILITY RESOURCES AND EDUCATION IN UNDERSERVED COMMUNITIES. THE FOUNDATION'S FINANCIAL WELLNESS AT WORK PROJECT ADMINISTERED IN COLLABORATION WITH UNITED WAY WORLDWIDE (UWW) HELPS NONPROFITS IN THE COMMUNITY PROVIDE WORKPLACE FINANCIAL WELLNESS SERVICES FOR LOWER-INCOME EMPLOYEES. THE PROJECT PROVIDES PROFESSIONAL DEVELOPMENT INSTITUTES, MODEL PROGRAMS AND SERVICES, GRANT FUNDING, AND OPPORTUNITIES TO SHARE BEST PRACTICES. IN ADDITION, THE FOUNDATION AND THE AMERICAN LIBRARY ASSOCIATION HAVE WORKED TOGETHER SINCE 2007 TO BUILD THE CAPACITY OF PUBLIC LIBRARIES TO HELP PATRONS, YOUNG AND ADULT, LEARN ABOUT MONEY AND ACHIEVE FINANCIAL GOALS. THIS SUPPORT HAS ENCOMPASSED THE DEVELOPMENT OF MODEL FINANCIAL EDUCATION PROGRAMS AND EXHIBITS AT LIBRARIES, COLLECTION DEVELOPMENT, ASSISTANCE FOR LIBRARIES HELPING FAMILIES RECOVER FINANCIALLY FROM MAJOR NATURAL DISASTERS, THE PROVISION OF JUST-IN-TIME INFORMATION MATERIALS, AND GRANT FUNDING. THE FOUNDATION ALSO HOSTS A FULL PLATFORM OF ONLINE STAFF DEVELOPMENT COURSES CREATED BY AND FOR LIBRARY PROFESSIONALS. THE FOUNDATION'S MILITARY FINANCIAL READINESS PROJECT DELIVERS FREE, HIGH-QUALITY, UNBIASED INFORMATION AND TOOLS TO MILITARY SERVICE MEMBERS, THEIR SPOUSES, AND ON-BASE FINANCIAL COUNSELORS. THROUGH TRAINING, EDUCATION, AND OUTREACH, THE FOUNDATION INCREASES FINANCIAL EXPERTISE AND SERVICES IN MILITARY COMMUNITIES, IMPROVES THE CREDIT MANAGEMENT OF SERVICE MEMBERS AND THEIR SPOUSES, AND PROVIDES OUTREACH SERVICES TO THE MILITARY COMMUNITY. THE FINRA FOUNDATION HAS A DEPARTMENT OF DEFENSE FINANCIAL READINESS NETWORK STATEMENT OF SUPPORT AND HOLDS A UNITED STATES COAST GUARD QUALIFIED ORGANIZATION DESIGNATION. AMONG THE NONPROFIT ORGANIZATIONS THAT HAVE ENTERED INTO PARTNERSHIP AGREEMENTS WITH THE FOUNDATION AS PART OF THIS PROJECT IN 2022 IS THE ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION. THE FOUNDATION'S MANY EFFORTS TO ADVANCE FINANCIAL INCLUSION IN THE UNITED STATES INCLUDE PARTNERSHIPS WITH THE ALABAMA COUNCIL ON ECONOMIC EDUCATION, GEORGIA COUNCIL ON ECONOMIC EDUCATION, THE MARYLAND COUNCIL ON ECONOMIC EDUCATION, MISSISSIPPI COUNCIL ON ECONOMIC EDUCATION, AND BESTPREP IN MINNESOTA TO EXPAND INVESTOR EDUCATION FOR TITLE I STUDENTS IN THOSE STATES. THE FOUNDATION ALSO PARTNERS WITH GIRL SCOUTS OF THE USA TO EXPAND THE FINANCIAL EMPOWERMENT OF GIRLS, AND WITH THE SOCIETY FOR FINANCIAL EDUCATION AND PROFESSIONAL DEVELOPMENT (SFE&PD) TO ENHANCE HISTORICALLY BLACK COLLEGE & UNIVERSITY (HBCU) STUDENTS' FINANCIAL KNOWLEDGE, CAPABILITY, AND DECISION MAKING WHILE IN COLLEGE AND BEYOND. Form 990, Part III, Line 4b UNDERTAKE AND SUPPORT RESEARCH TO IMPROVE CONSUMER FINANCIAL OUTCOMES (2022 ALLOCATION $1,088,980 INCLUDING GRANTS OF $109,099). THE FOUNDATION UNDERTAKES AND SUPPORTS RESEARCH TO IMPROVE CONSUMER FINANCIAL OUTCOMES. THIS INCLUDES RESEARCH INITIATIVES THAT PROVIDE RIGOROUS DATA AND ANALYSIS RELATED TO FINANCIAL CAPABILITY, FINANCIAL INCLUSION, AND INVESTING IN THE U.S. THE NATIONAL FINANCIAL CAPABILITY STUDY (NFCS) IS A LARGE-SCALE, MULTI-YEAR PROJECT THAT ADVANCES COMPREHENSIVE UNDERSTANDING OF THE FINANCIAL CAPABILITY OF ADULTS IN THE UNITED STATES. THE STUDY TRACKS KEY INDICATORS OF FINANCIAL CAPABILITY AND EVALUATES HOW THESE INDICATORS VARY OVER TIME WITH UNDERLYING DEMOGRAPHIC, BEHAVIORAL, ATTITUDINAL, AND FINANCIAL LITERACY CHARACTERISTICS. THE NFCS, IN TURN, INSPIRES ADDITIONAL STUDIES ON MAJOR FINANCIAL CAPABILITY ISSUES AFFECTING AMERICANS. IN ADDITION TO PROVIDING RESEARCH GRANTS AS IDENTIFIED ON SCHEDULE I, THE FOUNDATION LEADS AND ENABLES STUDIES TO HELP DECISION-MAKERS AND PRACTITIONERS ADVANCE FINANCIAL WELL-BEING IN COMMUNITIES NATIONWIDE. THE FOUNDATION'S CONSUMER INSIGHTS ON MONEY AND INVESTING SERIES-UNDERTAKEN IN COLLABORATION WITH NORC AT THE UNIVERSITY OF CHICAGO AND OTHERS-EXAMINES TIMELY PERSONAL FINANCE AND INVESTING TOPICS OF IMPORTANCE TO CONSUMERS, WITH DATA SEGMENTED BY RACE, ETHNICITY AND GENDER. THE FOUNDATION ALSO PURSUES AN ACTIVE RESEARCH AGENDA FOCUSING ON UNDERSTANDING AND COMBATING FINANCIAL FRAUD IN AMERICA, COGNITIVE AGING AND FINANCIAL DECISION MAKING, AND UNDERSTANDING WHAT WORKS WHEN IT COMES TO FINANCIAL EDUCATION, INCLUSION, AND PROTECTION. TO EXPAND THE PIPELINE OF RESEARCHERS, THE FOUNDATION MAINTAINS A DISSERTATION COMPLETION FELLOWSHIP PROGRAM. FELLOWSHIPS UNDER THIS INITIATIVE SUPPORT DOCTORAL CANDIDATES PURSUING RESEARCH RELATED TO SYSTEMIC BARRIERS TO FINANCIAL INCLUSION FACED BY UNDERSERVED COMMUNITIES. Form 990, Part III, Line 4c PROTECT CONSUMERS FROM FINANCIAL FRAUD (2022 ALLOCATION: $743,120). THE FOUNDATION EDUCATES AMERICANS ABOUT FINANCIAL FRAUD, HOW TO AVOID AND REPORT IT, AND THE STEPS TO TAKE IF VICTIMIZED. THROUGH INCLUSIVE EDUCATION AND OUTREACH STRATEGIES, THE FOUNDATION INCREASES FRAUD PREVENTION AND AWARENESS, EMPOWERS CONSUMERS, AND TRAINS LAW ENFORCEMENT AND VICTIM ADVOCATES TO RECOGNIZE, PREVENT, AND MITIGATE THE CONSEQUENCES OF FINANCIAL FRAUD. NONPROFIT ORGANIZATIONS AND ACADEMIC INSTITUTIONS THAT HAVE ENTERED INTO PARTNERSHIP AGREEMENTS WITH THE FOUNDATION AS PART OF ITS INVESTOR PROTECTION CAMPAIGN INCLUDE THE FOLLOWING: AARP; CYBERCRIME SUPPORT NETWORK; INTERNATIONAL ASSOCIATION OF BETTER BUSINESS BUREAUS AND THE BBB INSTITUTE FOR MARKETPLACE TRUST; FIRST NATIONS DEVELOPMENT INSTITUTE; NATIONAL CENTER FOR VICTIMS OF CRIME; AND NATIONAL WHITE COLLAR CRIME CENTER. Form 990, Part III, Line 4d Description of other program services (Expenses $ 172,519 including grants of $ 10,298) COMMUNICATE RESEARCH FINDINGS AND INNOVATIONS. THE FOUNDATION LEVERAGES ONLINE, SOCIAL MEDIA, PRINT, AND IN-PERSON DISTRIBUTION CHANNELS TO ADVANCE THE FINANCIAL INCLUSION AND CAPABILITY OF UNDERSERVED GROUPS AND TO PROVIDE DECISION-MAKERS WITH AN EMPIRICAL UNDERSTANDING OF FINANCIAL INCLUSION/EXCLUSION IN THE U.S. THE FOUNDATION PUBLISHES NFCS DATA SETS, METHODOLOGICAL DOCUMENTS, AND FINDINGS IN USER-FRIENDLY FORMATS, PARTICIPATES IN AND DIRECTS RESEARCH AND OTHER PROFESSIONAL FORUMS, AND PROMOTES THE WORK OF BOTH SEASONED LEADERS AND YOUNG RESEARCHERS ACTIVE IN THE FIELD OF FINANCIAL CAPABILITY. IN FURTHERANCE OF THIS GOAL, THE FOUNDATION MAINTAINS ALLIANCES WITH FEDERAL AGENCIES, STATE GOVERNMENT, MUNICIPALITIES, AND LEADING NONPROFIT ORGANIZATIONS ACTIVE IN THE FIELD OF FINANCIAL CAPABILITY. Form 990, Part V, Line 15 EXCISE TAX FOR ROBERT W. COOK, A COVERED EMPLOYEE OF THE FOUNDATION'S PARENT, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, WAS REPORTED AND PAID BY FINRA WHERE HE SERVES AS THE PRESIDENT & CEO. Form 990, Part VI, Line 15 THE FOUNDATION DOES NOT HAVE ANY EMPLOYEES. ALL SERVICES ARE PROVIDED BY EMPLOYEES OF FINRA. THE FOUNDATION DOES NOT COMPENSATE THESE EMPLOYEES OF FINRA FOR THEIR SERVICE. THE PRESIDENT OF THE FOUNDATION SERVES AS THE LEAD OFFICER DIRECTING THE ACTIVITIES OF THE ORGANIZATION. IN DETERMINING SPECIFIC SALARY AND INCENTIVE COMPENSATION LEVELS FOR OFFICERS AND KEY EMPLOYEES OF FINRA, FINRA MANAGEMENT AND THE MANAGEMENT COMPENSATION COMMITTEE (THE "COMMITTEE") OF THE FINRA BOARD OF GOVERNORS CONSIDER: 1) OPERATIONAL RESULTS 2) STRATEGIC INITIATIVES 3) FINANCIAL HEALTH/RESULTS 4) INDIVIDUAL CHARACTERISTICS SUCH AS PERFORMANCE 5) COMPETITIVE COMPENSATION LEVELS AS PREPARED BY A THIRD-PARTY COMPENSATION CONSULTANT. THE COMMITTEE'S MINUTES OF THE MARCH 9, 2022 MEETING WERE REVIEWED AND APPROVED AS ACCURATE AND COMPLETE. THE FULL BOARD FURTHER APPROVED THE 2021 INCENTIVE COMPENSATION OF THE CEO AT ITS MEETING ON MARCH 10, 2022. FOR FURTHER INFORMATION REGARDING THE COMPENSATION OF OFFICERS, PLEASE REFER TO THE 2022 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 FOR THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. Form 990, Part VI, Line 6 Classes of members or stockholders THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. (FINRA) IS THE SOLE MEMBER OF THE FOUNDATION. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body FINRA, AS SOLE MEMBER, ELECTS ALL MEMBERS OF THE GOVERNING BODY. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders THE BYLAWS OF THE CORPORATION MAY BE AMENDED BY THE SOLE MEMBER, FINRA. THE CERTIFICATE OF INCORPORATION OF THE CORPORATION MAY BE AMENDED OR REPEALED IN WHOLE OR IN PART ONLY WITH THE AFFIRMATIVE APPROVAL OF THE MEMBER, FINRA. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 WAS REVIEWED BY SENIOR MANAGEMENT AT VARIOUS STEPS THROUGHOUT THE PREPARATION CYCLE. THE FOUNDATION BOARD REVIEWED THE FINAL VERSION ON OCTOBER 3, 2023. Form 990, Part VI, Line 12c Conflict of interest policy THE FOUNDATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT GOVERNS THE PROFESSIONAL AND ETHICAL CONDUCT OF BOARD MEMBERS, OFFICERS AND STAFF. AMONG OTHER THINGS, MEMBERS, OFFICERS, AND STAFF ARE PROHIBITED FROM DERIVING ANY PERSONAL PROFIT OR GAIN, DIRECTLY OR INDIRECTLY, BY REASON OF THEIR SERVICE TO THE FOUNDATION. MOREOVER, THE POLICY EXPRESSLY PROHIBITS SELF-DEALING. THE WRITTEN CONFLICT OF INTEREST POLICY REQUIRES BOARD MEMBERS AND OFFICERS TO MAKE INITIAL DISCLOSURE OF INTERESTS THAT COULD GIVE RISE TO CONFLICTS AS WELL AS ANNUAL DISCLOSURE BY THE SAME BOARD MEMBERS AND OFFICERS. ADDITIONALLY, THE WRITTEN POLICY CONTAINS AN ONGOING OBLIGATION OF BOARD MEMBERS, OFFICERS AND STAFF TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST AS THEY ARISE. THE ORGANIZATION'S OFFICERS AND STAFF ARE EMPLOYEES OF FINRA, AND, AS SUCH, ARE ALSO REQUIRED TO CERTIFY ANNUALLY AS TO THEIR COMPLIANCE WITH FINRA'S WRITTEN CONFLICT OF INTEREST POLICY. FOR FURTHER INFORMATION REGARDING FINRA'S WRITTEN CONFLICT OF INTEREST POLICY, PLEASE REFER TO THE 2022 RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX - FORM 990 FOR THE FOUNDATION'S PARENT ORGANIZATION, THE FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. Form 990, Part VII, Section B, Line 1, Column (B) ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION MANAGED A FINANCIAL TRAINING AND CERTIFICATION PROGRAM FOR PARTICIPANTS IN THE FINRA FOUNDATION'S MILITARY SPOUSE FELLOWSHIP PROGRAM, AND DELIVERED ADDITIONAL CONTINUING EDUCATION PROGRAMMING FOR FINANCIAL COUNSELORS SERVING THE MILITARY COMMUNITY. GIRL SCOUTS OF THE USA IN PARTNERSHIP WITH THE FINRA FOUNDATION, REVAMPED AND DISSEMINATED THE GIRL SCOUTS FINANCIAL EMPOWERMENT BADGE PROGRAM TOOLKIT, WHICH INCLUDES ENGLISH AND SPANISH RESOURCES ADRESSING GOAL SETTING, BUDGETING, MONEY MANAGEMENT, INVESTING BASICS, AND BUSINESS DEVELOPMENT IN THE CONTEXT OF THE GIRL SCOUT COOKIE PROGRAM. SARD VERBINNEN & CO. LLC ANALYZED CONSUMER SURVEY DATA COLLECTED AS PART OF THE FINRA FOUNDATION'S NATIONAL FINANCIAL CAPABILITY STUDY, AND PREPARED DETAILED REPORTS ON ADULT FINANCIAL CAPABILITY AND INVESTING KNOWLEDGE AND BEHAVIOR IN THE UNITED STATES. CYBERCRIME SUPPORT NETWORK IN COLLABORATION WITH THE FINRA FOUNDATION, PROVIDED COUNSELING AND SUPPORT FOR ROMANCE SCAM SURVIVORS, ADDRESSING BOTH THE SOCIAL-EMOTIONAL CONSEQUENCES OF THIS CRIME AND THE SKILL-BUILDING NEEDED TO PREVENT FUTURE VICTIMIZATION. AMERICAN LIBRARY ASSOCIATION IN PARTNERSHIP WITH THE FINRA FOUNDATION, MANAGED AN INTERACTIVE, MULTIMEDIA TRAVELING EXHIBITION AND RELATED PUBLIC PROGRAMMING TO BRING FINANCIAL EDUCATION TO CHILDREN AT LIBRARIES NATIONWIDE. Form 990, Part IX, Line 11g Other Fees PARTNERSHIP SUPPORT/CONSULTING - Total Expense: 3160432, Program Service Expense: 3160432, Management and General Expenses: , Fundraising Expenses: ; OTHER - Total Expense: 15855, Program Service Expense: 2855, Management and General Expenses: 13000, Fundraising Expenses: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances OTHER CHANGES IN NET ASSETS OR FUND BALANCES PRIMARILY RELATE TO CONTRIBUTED SERVICES $2,958,414 AND INVESTMENT EXPENSES $86,230 - -3044644; FORM 990, PART I, LINES 4 & 6 5 OF THE 6 MEMBERS OF THE BOARD OF DIRECTORS, ACTIVE ON DECEMBER 31, 2022, ARE CONSIDERED INDEPENDENT VOTING MEMBERS AND SERVE ON A VOLUNTEER BASIS. AS DISCLOSED IN LINES (1), (5), AND (6) OF FORM 990, PART VII, SECTION A, LINE 1A, 3 ACTIVE BOARD MEMBERS RECEIVED COMPENSATION FROM FINRA, THE FOUNDATION'S PARENT. 1 BOARD MEMBER RECEIVES COMPENSATION AS AN OFFICER OF FINRA AND IS NEITHER CONSIDERED INDEPENDENT NOR COUNTED AS A VOLUNTEER. 2 ARE COMPENSATED FOR THEIR WORK AS MEMBERS OF THE BOARD OF FINRA OR ONE OF ITS COMMITTEES. THESE MEMBERS ARE CONSIDERED INDEPENDENT AND COUNTED AS VOLUNTEERS. THE BOARD OF DIRECTORS IS RESPONSIBLE FOR APPROVING PROJECTS AND GRANTS. Form 990, Part VI Employment Rules and Policies The Foundation does not have any employees. All services are provided by employees of FINRA. The Foundation does not pay for their services. As such, those individuals are subject to the employment rules and policies of FINRA. 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