Fs-Isac INC FY2021 filing

Not tax-deductible

Reston, VA501(c)(6)Since 2003Community Development EIN 52-2204208Revenue $32.0M in FY2021

On file with the IRSfsisac.com12120 Sunset Hills Rd Ste 500, 20190-5858 · Reston, VATax-exempt since Oct 2005

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See part III, line 1.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
6¢ of each $1 spent went to programs.
$4.4M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $2.4M a year · 6% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
6%
of spending
Concern: 6% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$4.4M
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
7 mo
of spending, in cash
Looks good: 7.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$26.4M
96% of total assets
Concern: liabilities are 96% of assets; over 80%.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$32.0M
-8% vs prior year
Spent
$37.6M
To programs
6%
Net assets
$1.1M
By yearFY2020–FY2024
Revenue
$32.0M
FY2021▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$34.7M
FY2021$32.0M
FY2022$45.4M
FY2023$47.4M
FY2024$50.9M
Expenses
$37.6M
FY2021+0.3%
Tap a bar for its year
Expenses by fiscal year
FY2020$37.5M
FY2021$37.6M
FY2022$35.4M
FY2023$41.9M
FY2024$45.9M
Net assets
$1.1M
FY2021▲ +190%
Tap a bar for its year
Net assets by fiscal year
FY2020−$1.2M
FY2021$1.1M
FY2022$10.0M
FY2023$16.1M
FY2024$21.3M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2005.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

6 cents of each dollar spent went to programs.

Program services 6% · $2.3M Management & general 94% · $35.3M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

30 people listed on the 990; $4.4M paid to officers and key staff.

Part VII, Section A · reportable compensation
$1,022,248Pt VII · Sec A
President,ceo Sheltered Harbor
$424,208Pt VII · Sec A
$358,832Pt VII · Sec A
Secretary & General Counsel
$311,115Pt VII · Sec A
Chief Information Security Off
$307,847Pt VII · Sec A
Chief Communications Officer
$301,874Pt VII · Sec A
General Counsel Fdx
$264,976Pt VII · Sec A
Director of System Engineering
$250,875Pt VII · Sec A

Steven Silberstein’s $1.5M as CEO is at the 98th percentile of top reported officer pay among 572 $10–100M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Steven Silberstein$1,498,839$1,397,141$1,077,189$1,022,248$994,682
Scott E Depasquale————$836,929
Danielle Metzler$646,144$561,537$768,059$358,832$358,709
John Denning$580,025————
Carlos Recalde$505,379$491,984$465,224$424,208$405,986
Robin Fantin———$184,547$488,147
Amanda Cody—$147,109$452,036$307,847$309,643
Brian Tishuk$414,628$387,669$363,096$311,115$336,890

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Shares cyber threat intelligence and best practices to protect the global financial services industry from online risks.

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3 programs · in their own filed words · FY2021
01

Members may attend virtual AND/OR in person conferences four times per year where they can network and brainstorm with other members, affiliates and sponsors in a workgroup and seminar setting. Members share best practices in cyber security as well as participate in exercises to improve resiliency.

Pt IX · col B
02

Regional events provide members with an increased awareness of industry risks including exposure to online account takeover. Increased membership will increase the ability of fs-isac to mitigate risks to the global financial services industry.

Pt IX · col B
03

Membership in fs-isac gives organizations early notification of security threats and attacks, anonymous information sharing among the financial services industry, regularly scheduled member meetings and bi-weekly conference calls.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$32.0M
Ln 12
Fees for servicesLn 2g$31.9M
Gifts and grantsLn 1h$10K
Other incomeLn 4–11$6K
Money outPt IX
$37.6M
Ln 25
Programscol B$2.3M
Managementcol C$35.3M
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$22.8M
Total assetsLn 16$27.4M
LiabilitiesLn 26$26.4M
PeoplePt VI, VII
30
listed · VII A
PaidVII A13
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Fees for servicesLn 2g$31.9M
Investment incomeLn 3$4K
Other incomeLn 4–11$6K
Gains on assetsLn 7−$71K
Total revenueLn 12$32.0M
Assets in detailPt X, end of year
CashLn 1$9.8M
SavingsLn 2$13.0M
Cash and savings togetherLn 1–2$22.8M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$2.2M
Other assetsLn 15$694K
Total assetsLn 16$27.4M
LiabilitiesLn 26$26.4M
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 5102
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$3.8M$22.8M
InvestmentsLn 11–13$6.3M$0
Land, buildings, equipmentLn 10c$2.5M$2.2M
Total assetsLn 16$14.6M$27.4M
LiabilitiesLn 26$15.8M$26.4M
Net assetsLn 32−$1.2M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$3.3M$434K$2.9M
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$9.3M$1.2M$8.1M
Pension plan contributionsLn 8$796K$104K$693K
Other employee benefitsLn 9$1.0M$156K$858K
Payroll taxesLn 10$702K$108K$594K
Management feesLn 11a$0
Legal feesLn 11b$150K$150K
Accounting feesLn 11c$98K$98K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$4.0M$4.0M
Advertising and promotionLn 12$338K$2K$336K
Office expensesLn 13$74K$462$73K
Information technologyLn 14$3.8M$45K$3.8M
RoyaltiesLn 15$0
OccupancyLn 16$463K$96K$367K
TravelLn 17$39K$10K$30K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$204K$50K$154K
InterestLn 20$14K$14K
Payments to affiliatesLn 21$12.3M$12.3M
Depreciation, depletion and amortizationLn 22$532K$102K$430K
InsuranceLn 23$70K$70K
Other expenses (24a–d)Ln 24$198K$70$197K
All other expensesLn 24e$224K$224K
Total functional expensesLn 25$37.6M$2.3M$35.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $50.9M$45.9M$5.0M$21.3M 990 PDF
FY2023 $47.4M$41.9M$5.5M$16.1M 990 PDF
FY2022 $45.4M$35.4M$10.0M$10.0M 990 PDF
FY2021 Viewing $32.0M$37.6M−$5.7M$1.1M 990 PDF
FY2020 $34.7M$37.5M−$2.8M−$1.2M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $31,957,295 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $715,000$10,000
I-9 Program service revenuePrior year $34,119,955$31,941,669
I-10 Investment incomePrior year −$1,181,616−$67,742
I-11 Other revenuePrior year $1,027,365$73,368
I-12 Total revenuePrior year $34,680,704$31,957,295
I-13 Grants and similar amounts paidPrior year $2,953$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $21,178,001$15,118,840
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $16,323,906$22,494,106
I-18 Total expensesPrior year $37,504,860$37,612,946
I-19 Revenue less expensesPrior year −$2,824,156−$5,655,651
Part VI · Governance 17 of 17 board members independent, 1 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $31,957,295 across 10 lines filed
VIII-1f All other contributions, gifts and grants$10,000
VIII-1h Total contributions, gifts and grants$10,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $31,941,669$31,941,669
VIII-3 Investment incomeExcluded from tax $3,554$3,554
VIII-5 Royalties$0
VIII-6 Net rental income or lossRelated to mission $104,637$104,637
VIII-7 Net gain or loss on sales of assetsRelated to mission −$71,296−$71,296
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$31,269−$31,269
VIII-12 Total revenueRelated to mission $31,943,741 · Excluded from tax $3,554$31,957,295
Part IX · Statement of functional expenses $37,612,946 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $434,160 · Management $2,902,271$3,336,431
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $1,206,226 · Management $8,063,361$9,269,587
IX-8 Pension plan contributionsPrograms $103,634 · Management $692,773$796,407
IX-9 Other employee benefitsPrograms $156,374 · Management $857,784$1,014,158
IX-10 Payroll taxesPrograms $108,281 · Management $593,976$702,257
IX-11a Management fees$0
IX-11b Legal feesManagement $149,959$149,959
IX-11c Accounting feesManagement $98,141$98,141
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesManagement $3,988,755$3,988,755
IX-12 Advertising and promotionPrograms $2,120 · Management $336,061$338,181
IX-13 Office expensesPrograms $462 · Management $73,261$73,723
IX-14 Information technologyPrograms $45,037 · Management $3,803,904$3,848,941
IX-15 Royalties$0
IX-16 OccupancyPrograms $95,746 · Management $367,298$463,044
IX-17 TravelPrograms $9,737 · Management $29,736$39,473
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $50,361 · Management $153,809$204,170
IX-20 InterestManagement $13,680$13,680
IX-21 Payments to affiliatesManagement $12,252,879$12,252,879
IX-22 Depreciation, depletion and amortizationPrograms $101,664 · Management $430,335$531,999
IX-23 InsuranceManagement $69,798$69,798
IX-24 Other expenses (24a–d)Programs $70 · Management $197,439$197,509
IX-24e All other expensesManagement $223,854$223,854
IX-25 Total functional expensesPrograms $2,313,872 · Management $35,299,074$37,612,946
Part X · Balance sheet $27,418,346 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $2,291,709$9,832,160
X-2 Savings and temporary cash investmentsStart of year $1,496,152$12,966,165
X-3 Pledges and grants receivableStart of year $0$10,000
X-4 Accounts receivableStart of year $623,249$6,668
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $1,311,573$1,664,565
X-10c Land, buildings and equipment, netStart of year $2,471,488$2,244,795
X-11 Publicly traded securitiesStart of year $6,340,953$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $59,988$693,993
X-16 Total assetsStart of year $14,595,112$27,418,346
X-17 Accounts payable and accrued expensesStart of year $3,986,121$4,266,297
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $10,721,713$16,245,187
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $1,073,857$5,839,516
X-26 Total liabilitiesStart of year $15,781,691$26,351,000
X-27 Net assets without donor restrictionsStart of year −$1,186,579$1,067,346
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year −$1,186,579$1,067,346
X-33 Total liabilities and net assetsStart of year $14,595,112$27,418,346
Part XI · Reconciliation of net assets $1,067,346 net assets at year end
XI-1 Total revenue$31,957,295
XI-2 Total expenses$37,612,946
XI-3 Revenue less expenses−$5,655,651
XI-4 Net assets at start of year−$1,186,579
XI-8 Prior period adjustments$7,909,576
XI-10 Net assets at end of year$1,067,346

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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