2024-11-15T15:40:09+00:00 2023-12-31 346565596 ERNST & YOUNG US LLP 221 E 4TH STREET SUITE 2900 CINCINNATI OH 45202 990 2023-01-01 200863779 FINRA Investor Education Foundation FINR 2027288949 9509 KEY WEST AVENUE ROCKVILLE MD 20850 ROBERT W COOK CHAIRMAN AND CEO 2024-11-15 true Julie L Sparks P01268401 5136121400 2023-11-14 2023 2024-10-15 13:58:12Z Geraldine M Walsh 1700 K STREET NW WASHINGTON DC 200061506 26437228 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 5860131 6980741 0 0 3987763 2416355 0 0 9847894 9397096 557298 456441 0 0 0 0 0 0 0 3689172 4588924 4246470 5045365 5601424 4351731 68490035 79051155 584888 1206167 67905147 77844988 X THE MISSION IS TO EMPOWER UNDERSERVED AMERICANS WITH THE KNOWLEDGE, SKILLS AND TOOLS TO MAKE SOUND FINANCIAL DECISIONS THROUGHOUT LIFE. false false 2717396 367619 FOSTER SUSTAINABLE, INCLUSIVE FINANCIAL CAPABILITY - See Schedule O 1084580 74915 UNDERTAKE AND SUPPORT RESEARCH TO IMPROVE CONSUMER FINANCIAL OUTCOMES - See Schedule O 949661 PROTECT CONSUMERS FROM FINANCIAL FRAUD AND AMELIORATE THE CONSEQUENCES OF FRAUD - See Schedule O 80978 13907 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, AND LEADING NONPROFIT ORGANIZATIONS ACTIVE IN THE FIELD OF FINANCIAL CAPABILITY. 80978 13907 4832615 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 16 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 1.0 0 X 0 0 0 PEGGY HO BOARD MEMBER 1.0 2.0 X 0 100179 0 Robert W Cook Chairman 1.0 59.0 X 0 3243336 595811 Eileen M Famiglietti Treasurer 6.0 54.0 X 0 550638 168612 Geraldine M Walsh President 48.0 12.0 X 0 582234 125303 Jennifer P Mitchell Corporate Secretary 3.0 57.0 X 0 487158 105514 0 5003545 995240 0 false true false ASSOCIATION FOR FINANCIAL COUNSELING AND PLANNING EDUCATION 79 S STATE STREET WESTERVILLE OH 43081 SEE SCHEDULE O 411761 AMERICAN LIBRARY ASSOCIATION 6499 NETWORK PLACE CHICAGO IL 60673 SEE SCHEDULE O 400000 GIRL SCOUTS OF THE USA PO BOX 5946 NEW YORK NY 10087 SEE SCHEDULE O 377000 FGS GLOBAL LLC 909 THIRD AVENUE NEW YORK NY 10022 SEE SCHEDULE O 374750 AARP 32OO E CARSON STREET LAKEWOOD CA 90712 SEE SCHEDULE O 162500 9 0 0 0 6980741 0 0 0 6980741 0 0 0 0 0 1792618 1792618 0 0 0 0 0 0 17663869 0 17040132 623737 0 623737 623737 0 0 0 0 0 0 0 0 0 0 0 9397096 0 0 2416355 X 442534 442534 13907 13907 53376 53376 85573 85573 4043803 4043472 331 0 27185 27185 9990 9502 488 24346 24082 264 98373 49852 48521 155714 141239 14475 Dues/Membership Fee 29000 27500 1500 PUBLICATIONS/PRINTING 23053 23024 29 38511 30318 8193 0 5045365 4832615 212750 0 832312 999675 0 0 0 0 5840 4199920 0 0 0 0 0 0 0 0 24761 298634 0 0 0 0 55316022 62741532 12229105 10671643 0 0 0 81995 139751 68490035 79051155 582188 1206165 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2700 2 584888 1206167 X 67829636 77770848 75511 74140 0 0 0 0 0 0 67905147 77844988 68490035 79051155 X 4351731 5608109 3019488 85573 -3125060 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 75511 0 3629 5000 74140 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 0.0 0.0 1.0 false false Pooled Investment Funds 10671643 F 10671643 DUE TO RELATED ORGANIZATION 2 2 X 17939120 5608109 3019488 0 8627597 9311523 85573 0 85573 9397096 7999280 3019488 20000 0 3039488 4959792 85573 0 85573 5045365 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 SCHOLARS PROGRAM, FORMERLY 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, 2020, through December 31, 2023, 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 10671643 0 0 0 0 0 0 10671643 0 10671643 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 CLAYTON COLLABORATIVE AUTHORITY 696 MOUNT ZION ROAD JONESBORO GA 30236 582516726 501(C)(3) 25000 To enable the Clayton County Library System to integrate activity-based financial education experiences into entrepreneurship and workforce development efforts, especially those related to the region's film industry. EBRI PO BOX 23146 WASHINGTON DC 20026 521190398 501(C)(3) 23748 To examine trends in aggregate out-of-pocket healthcare spending by type of health plan and analyze how cost-sharing has been changing due to shifts toward less comprehensive and/or high-deductible insurance plans. FARMINGTON PUBLIC LIBRARY FNDT 2101 FARMINGTON AVE FARMINGTON NM 87401 850365466 501(C)(3) 25000 To collaborate with a coalition of public- and private-sector partners to deliver multigenerational financial capability experiences and services informed by an interactive polling process to ensure alignment with community priorities. FNDT FOR BALTIMORE CTY PUBLIC LIBRARY 320 YORK ROAD TOWSON MD 21204 521695801 501(C)(3) 24915 To undertake financial capability programming for various age groups with the aim of building generational wealth, especially within high-need and underserved communities. LA CASA DE ESPERANZA 420 ARCADIAN AVENUE WAUKESHA WI 53166 391144446 501(C)(3) 20000 To advance a collaborative and sustainable workplace financial wellness initiative. MEMORIAL LIBRARY OF NAZARETH & VICINITY 295 EAST CENTER ST NAZARETH PA 18064 246019434 501(C)(3) 10788 To deliver a diverse array of sustainable financial capability experiences for teens and adults, supplemented by concurrent programming for children, giving particular attention to preparing financially for college, saving money, the psychology of money, managing debt, credit health, and mastering the basics of financial literacy. NOVA SOUTHEASTERN UNIVERSITY 3300 S UNIVERSITY DR FT LAUDERDALE FL 33328 591083502 501(C)(3) 25000 To enable Alvin Sherman Library at Nova Southeastern University to educate and counsel Broward County veterans on financial literacy, sustainable homeownership, and foreclosure and homelessness prevention. ORANGE COUNTY LIBRARY DISTRICT 101 EAST CENTRAL BLVD ORLANDO FL 32801 502045143 SECTION 115 24965 To collaborate with the University of Central Florida to help English language learners acquire essential personal finance skills and knowledge. OSCEOLA LIBRARY SYSTEM 1392 E VINE STREET KISSIMMEE FL 34744 596000780 SECTION 115 9661 To expand personal finance collections and share fraud prevention messages to help residents in the county make well-informed financial decisions following a FEMA-declared major natural disaster. RESEARCH FNDT CITY UNIVERSITY OF NY 230 W 41ST ST NEW YORK NY 10036 131988190 501(C)(3) 24819 To enable LaGuardia Community College Library to provide financial and investor education to college students and the wider community using Open Educational Resources, giving particular attention to the challenges experienced by lower-income households when living in high-cost urban areas. SARA HIGHTOWER REGIONAL LIBRARY SYSTEM 205 RIVERSIDE PARKWAY ROME GA 30161 586002877 SECTION 115 25000 To partner with the University of West Georgia's Center for Economic Education and Financial Literacy to deliver customized financial education for adults, teens, and children, especially in ways that align with existing social service initiatives maintained by local nonprofits and agencies. SOUTH ARKANSAS COLLEGE 330 SOUTH WEST AVE EL DORADO AR 71731 710718748 SECTION 115 23562 To deliver sustained financial education for secondary school students in the region, with a particular focus on students participating in Upward Bound, a federal initiative designed to help young people from low-income households complete high school and successfully pursue postsecondary education. UNITED WAY OF GREATER NEW BEDFORD 128 UNION STREET NEW BEDFORD MA 02740 042104264 501(C)(3) 20000 To advance a collaborative and sustainable workplace financial wellness initiative. UNITED WAY OF NORTHWEST VERMONT 412 FARRELL STREET SOUTH BURLINGTON VT 05403 030217229 501(C)(3) 20000 To advance a collaborative and sustainable workplace financial wellness initiative. UNIVERSITY OF TENNESSEE EXTENSION 121 MORGAN HALL KNOXVILLE TN 37996 626001636 501(C)(3) 51168 To examine the condition of financial education in high schools across Tennessee, giving particular attention to Title I schools and comparing the situation in urban, suburban, and rural schools. UNIVERSITY OF WISCONSIN-MADISON 21 N PARK STREET MADISON WI 53715 396006492 SECTION 115 20000 To advance a collaborative and sustainable workplace financial wellness initiative. VOLUSIA COUNTY PUBLIC LIBRARY 123 W INDIANA AVENUE DELAND FL 32720 596000885 SECTION 115 10000 To expand personal finance collections and share fraud prevention messages to help residents in the county make well-informed financial decisions following a FEMA-declared major natural disaster. WEST GEORGIA REGIONAL LIBRARY SYSTEM 121W CHANDLER STREET CARROLLTON GA 30117 586003107 SECTION 115 25000 To collaborate with the University of West Georgia's Center for Economic Education and Financial Literacy to roll out "Financial Literacy on Wheels," an initiative that brings personal finance experiences to lower-income and underserved families in the region through enhanced bookmobile services. 18 0 2023 KETCHUM SCHOLARS FUND FOR OUTSTANDING SERVICE AND RESEARCH TO ADVANCE INVESTOR PROTECTION AND FINANCIAL CAPABILITY IN THE U.S. 1 10000 3907 COST 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 1059762 0 2150000 0 33574 0 588753 0 7058 0 3839147 0 0 Eileen M Famiglietti Treasurer 0 324117 0 172900 0 53621 0 126899 0 41713 0 719250 0 31472 Jennifer P Mitchell Corporate Secretary 0 284794 0 200000 0 2364 0 59783 0 45731 0 592672 0 0 Geraldine M Walsh President 0 353383 0 200000 0 28851 0 115306 0 9997 0 707537 0 0 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 2023: Eileen M. Famiglietti - $50,061 (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 2023 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 (2023 ALLOCATION: $2,717,396 INCLUDING GRANTS OF $367,619). 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, 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 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 2023 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, ARIZONA COUNCIL ON ECONOMIC EDUCATION, CALIFORNIA COUNCIL ON ECONOMIC EDUCATION, GEORGIA COUNCIL ON ECONOMIC EDUCATION, 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 TO ENHANCE HISTORICALLY BLACK COLLEGE & UNIVERSITY (HBCU) STUDENTS' FINANCIAL KNOWLEDGE, CAPABILITY, AND DECISION-MAKING WHILE IN COLLEGE AND BEYOND. TO BUILD FINANCIAL CAPACITY IN LATINO AND IMMIGRANT COMMUNITIES, THE FOUNDATION SUPPORTS THE TRAINING AND DEVELOPMENT EFFORTS OF THE NATIONAL ASSOCIATION FOR LATINO COMMUNITY ASSET BUILDERS. Form 990, Part III, Line 4b UNDERTAKE AND SUPPORT RESEARCH TO IMPROVE CONSUMER FINANCIAL OUTCOMES (2023 ALLOCATION: $1,084,580 INCLUDING GRANTS OF $74,915). 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 EXAMINES TIMELY PERSONAL FINANCE AND INVESTING TOPICS OF IMPORTANCE TO CONSUMERS. 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 FINANCIAL INCLUSION AND PARTICIPATION IN CAPITAL MARKETS BY UNDERSERVED COMMUNITIES. Form 990, Part III, Line 4c PROTECT CONSUMERS FROM FINANCIAL FRAUD AND AMELIORATE THE CONSEQUENCES OF FRAUD (2023 ALLOCATION: $949,661). 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; GIVE AN HOUR; 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 $ 80,978 including grants of $ 13,907) 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, 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, 2023 MEETING WERE REVIEWED AND APPROVED AS ACCURATE AND COMPLETE. THE FULL BOARD FURTHER APPROVED THE 2022 INCENTIVE COMPENSATION OF THE CEO AT ITS MEETING ON MARCH 10, 2023. FOR FURTHER INFORMATION REGARDING THE COMPENSATION OF OFFICERS, PLEASE REFER TO THE 2023 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 8, 2024. 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 2023 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 To manage a financial counselor training and certification program for participants in the FINRA Foundation Military Spouse Fellowship program and deliver additional continuing education programming for financial counselors serving the military community. American Library Association To undertake Thinking Money for Kids, a multimedia financial literacy initiative designed for public and tribal libraries in the United States, in partnership with the FINRA Foundation. Girl Scouts of the USA To revamp and promote components of the Girl Scouts of the USA Financial Empowerment Badge Program and undertake related educational outreach events in partnership with the FINRA Foundation. FGS Global LLC To undertake data collection, analysis, report writing, and related research services as part of the FINRA Foundation's National Financial Capability Study. AARP To provide proactive counseling and fraud prevention outreach to consumers targeted for or impacted by a wide range of fraud and scams. Form 990, Part IX, Line 11g Other Fees PARTNERSHIP SUPPORT/CONSULTING - Total Expense: 4043803, Program Service Expense: 4043472, Management and General Expenses: 331, 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 $3,019,488, INVESTMENT EXPENSES $85,573, PRIOR YEAR GRANT REFUND $20,000 AND ROUNDING ADJUSTMENT (-1) - -3125060; FORM 990, PART I, LINES 4 & 6 5 OF THE 6 MEMBERS OF THE BOARD OF DIRECTORS, ACTIVE ON DECEMBER 31, 2023, 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, 2 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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