Fs-Isac INC FY2022 filing

Not tax-deductible

Reston, VA501(c)(6)Since 2003Community Development EIN 52-2204208Revenue $45.4M in FY2022

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.
$5.3M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

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FY2022 · 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
Pay to officers and key staff
$5.3M
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
4 mo
of spending, in cash
Plus $18.4M in investments, Pt X · Ln 11–13
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$29.5M
75% of total assets
Worth a look: liabilities are 75% of assets; over 65%.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$45.4M
+42% vs prior year
Spent
$35.4M
Net assets
$10.0M
By yearFY2020–FY2024
Revenue
$45.4M
FY2022▲ +42%
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
$35.4M
FY2022▼ -6%
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
$10.0M
FY2022▲ +832%
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 FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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

Who runs it and what they're paid

29 people listed on the 990; $5.3M paid to officers and key staff.

Part VII, Section A · reportable compensation
$1,077,189Pt VII · Sec A
$768,059Pt VII · Sec A
President,ceo Sheltered Harbor
$465,224Pt VII · Sec A
Chief Information Security Off
$452,036Pt VII · Sec A
Secretary & General Counsel
$363,096Pt VII · Sec A
Director of System Engineering
$307,560Pt VII · Sec A
VP of Strategy
$282,891Pt VII · Sec A
General Counsel Fdx
$277,490Pt 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 15aYes

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 · FY2022
01

Members may attend 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 FY2022 990, line by line.

1The main four
Money inPt VIII
$45.4M
Ln 12
Fees for servicesLn 2g$42.1M
Gifts and grantsLn 1h$4.1M
Investment incomeLn 3$258K
Money outPt IX
$35.4M
Ln 25
Owns and owesPt X
$10.0M
net assets · Ln 32
Cash and savingsLn 1–2$10.6M
Total assetsLn 16$39.5M
LiabilitiesLn 26$29.5M
PeoplePt VI, VII
29
listed · VII A
PaidVII A13
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.1M
Government grantsLn 1e$4.1M
Fees for servicesLn 2g$42.1M
Investment incomeLn 3$258K
Gains on assetsLn 7−$215K
Total revenueLn 12$45.4M
Assets in detailPt X, end of year
CashLn 1$10.3M
SavingsLn 2$295K
Cash and savings togetherLn 1–2$10.6M
InvestmentsLn 11–13$18.4M
Land, buildings, equipmentLn 10c$5.8M
Other assetsLn 15$45K
Total assetsLn 16$39.5M
LiabilitiesLn 26$29.5M
Net assetsLn 32$10.0M
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 FY22End FY22
Cash and savingsLn 1–2$22.8M$10.6M
InvestmentsLn 11–13$0$18.4M
Land, buildings, equipmentLn 10c$2.2M$5.8M
Total assetsLn 16$27.4M$39.5M
LiabilitiesLn 26$26.4M$29.5M
Net assetsLn 32$1.1M$10.0M
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
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$4.3M
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$9.6M
Pension plan contributionsLn 8$908K
Other employee benefitsLn 9$1.1M
Payroll taxesLn 10$783K
Management feesLn 11a$0
Legal feesLn 11b$241K
Accounting feesLn 11c$284K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$3.2M
Advertising and promotionLn 12$432K
Office expensesLn 13$163K
Information technologyLn 14$4.2M
RoyaltiesLn 15$0
OccupancyLn 16$516K
TravelLn 17$550K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$2.8M
InterestLn 20$27K
Payments to affiliatesLn 21$5.1M
Depreciation, depletion and amortizationLn 22$565K
InsuranceLn 23$111K
Other expenses (24a–d)Ln 24$340K
All other expensesLn 24e$120K
Total functional expensesLn 25$35.4M

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 Viewing $45.4M$35.4M$10.0M$10.0M 990 PDF
FY2021 $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 FY2022 990 (6 parts)
Part I · Summary $45,393,845 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $10,000$4,149,698
I-9 Program service revenuePrior year $31,941,669$42,121,703
I-10 Investment incomePrior year −$67,742$257,685
I-11 Other revenuePrior year $73,368−$1,135,241
I-12 Total revenuePrior year $31,957,295$45,393,845
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $15,118,840$16,696,782
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $22,494,106$18,718,842
I-18 Total expensesPrior year $37,612,946$35,415,624
I-19 Revenue less expensesPrior year −$5,655,651$9,978,221
Part VI · Governance 15 of 15 board members independent, no flags
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $45,393,845 across 10 lines filed
VIII-1e Government grants$4,149,698
VIII-1h Total contributions, gifts and grants$4,149,698
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $42,121,703$42,121,703
VIII-3 Investment incomeExcluded from tax $473,017$473,017
VIII-5 Royalties$0
VIII-6 Net rental income or lossRelated to mission $99,465$99,465
VIII-7 Net gain or loss on sales of assetsRelated to mission −$215,332−$215,332
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$1,234,706−$1,234,706
VIII-12 Total revenueRelated to mission $40,771,130 · Excluded from tax $473,017$45,393,845
Part IX · Statement of functional expenses $35,415,624 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 recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$4,342,783
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$9,576,665
IX-8 Pension plan contributions$908,382
IX-9 Other employee benefits$1,085,679
IX-10 Payroll taxes$783,273
IX-11a Management fees$0
IX-11b Legal fees$240,871
IX-11c Accounting fees$284,450
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$3,218,671
IX-12 Advertising and promotion$432,264
IX-13 Office expenses$162,848
IX-14 Information technology$4,218,957
IX-15 Royalties$0
IX-16 Occupancy$515,880
IX-17 Travel$550,435
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$2,830,627
IX-20 Interest$27,498
IX-21 Payments to affiliates$5,099,289
IX-22 Depreciation, depletion and amortization$565,364
IX-23 Insurance$111,356
IX-24 Other expenses (24a–d)$339,962
IX-24e All other expenses$120,370
IX-25 Total functional expenses$35,415,624
Part X · Balance sheet $39,466,165 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $9,832,160$10,300,153
X-2 Savings and temporary cash investmentsStart of year $12,966,165$295,395
X-3 Pledges and grants receivableStart of year $10,000$0
X-4 Accounts receivableStart of year $6,668$2,469,661
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $1,664,565$2,095,373
X-10c Land, buildings and equipment, netStart of year $2,244,795$5,842,477
X-11 Publicly traded securitiesStart of year $0$18,418,113
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 $693,993$44,993
X-16 Total assetsStart of year $27,418,346$39,466,165
X-17 Accounts payable and accrued expensesStart of year $4,266,297$4,866,414
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $16,245,187$17,754,670
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 $5,839,516$6,892,442
X-26 Total liabilitiesStart of year $26,351,000$29,513,526
X-27 Net assets without donor restrictionsStart of year $1,067,346$9,952,639
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,067,346$9,952,639
X-33 Total liabilities and net assetsStart of year $27,418,346$39,466,165
Part XI · Reconciliation of net assets $9,952,639 net assets at year end
XI-1 Total revenue$45,393,845
XI-2 Total expenses$35,415,624
XI-3 Revenue less expenses$9,978,221
XI-4 Net assets at start of year$1,067,346
XI-8 Prior period adjustments−$1,093
XI-9 Other changes in net assets−$1,091,835
XI-10 Net assets at end of year$9,952,639

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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