Municipal Securities Rulemaking Board
- Assets
- $76.2m
- Revenue
- $48.6m
- Investments
- $0.0
- Employees
- 148
- Location
- Washington, DC
- Founding
- 07/1989
- Data as of
- 09/2023
- EIN
- 52-1042433
Organization Overview
Municipal Securities Rulemaking Board is located in Washington, DC. The organization was established in 1989. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2023, Municipal Securities Rulemaking Board employed 148 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Municipal Securities Rulemaking Board is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2023, Municipal Securities Rulemaking Board generated $48.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $46.9m during the year ending 09/2023. While expenses have increased by 3.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MSRB PROTECTS INVESTORS, STATE AND LOCAL GOVERNMENTS AND OTHER MUNICIPAL ENTITIES, AND THE PUBLIC INTEREST BY PROMOTING A FAIR & EFFICIENT MUNICIPAL SECURITIES MARKET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARKET REGULATION: SEE SCHEDULE O
MARKET TRANSPARENCY: SEE SCHEDULE O
PUBLIC TRUST: SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark T Kim President & CEO | Officer | 40 | $667,361 |
Nanette D Lawson Chief Operating Officer | Officer | 40 | $519,862 |
John A Bagley Chief Market Structure Officer | Officer | 40 | $507,395 |
E Adam Cusson Chief Technology Officer | Officer | 40 | $452,591 |
Gail Marshall Chief Regulatory Officer | Officer | 40 | $401,314 |
Jacob Lesser General Counsel | Officer | 40 | $422,381 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Amazon Web Services Inc Cloud Srvc Provider | 9/29/23 | $2,998,415 |
Cc Pace Systems Inc Software Development | 9/29/23 | $1,664,931 |
Accenture Federal Services Software Development | 9/29/23 | $2,719,919 |
Arshil Llc Software Development | 9/29/23 | $1,490,862 |
Hitachi Vantara Llc Software Development | 9/29/23 | $1,776,930 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $44,979,616 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $44,979,616 |
| Total Program Service Revenue | $2,821,822 |
| Investment income | $788,355 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,594,053 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,348,723 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,368,545 |
| Pension plan accruals and contributions | $1,125,231 |
| Other employee benefits | $1,264,122 |
| Payroll taxes | $1,307,274 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $251,273 |
| Fees for services: Accounting | $318,300 |
| Fees for services: Lobbying | $240,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,207,891 |
| Advertising and promotion | $0 |
| Office expenses | $441,807 |
| Information technology | $6,141,240 |
| Royalties | $0 |
| Occupancy | $2,325,427 |
| Travel | $388,305 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $276,799 |
| Interest | $327 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,289,414 |
| Insurance | $365,396 |
| All other expenses | $117,456 |
| Total functional expenses | $46,879,987 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $893,788 |
| Savings and temporary cash investments | $2,600,268 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,946,227 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,063,241 |
| Net Land, buildings, and equipment | $17,133,695 |
| Investments—publicly traded securities | $39,476,522 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,108,454 |
| Total assets | $76,222,195 |
| Accounts payable and accrued expenses | $5,224,606 |
| Grants payable | $0 |
| Deferred revenue | $359,508 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,931,680 |
| Total liabilities | $17,515,794 |
| Net assets without donor restrictions | $58,706,401 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $76,222,195 |