GOLD2023

Better Markets Inc.

Washington, DC   |  http://bettermarkets.org
GuideStar Charity Check

Better Markets Inc.

EIN: 27-2227363


Mission

To fight for the economic security, opportunity and prosperity of the American people, particularly those who are disenfranchised, by working to enact financial reform to prevent another financial crash and the diversion of trillions of taxpayer dollars to bailing out the financial system.

Ruling year info

2010

CEO, President and Founder

Dennis Kelleher

Main address

2000 Pennsylvania Ave NW Suite 4008

Washington, DC 20006 USA

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EIN

27-2227363

Subject area info

Climate change

Public affairs

Foreclosure prevention

Home ownership

Housing loss prevention

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Population served info

Adults

Ethnic and racial groups

Social and economic status

NTEE code info

Alliance/Advocacy Organizations (W01)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Communication

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Making the Banking System Work for All Americans and Not Just for a Select Few

Better Markets’ banking policy team focuses on three government agencies: the Federal Reserve System (“The Fed”), the Federal Deposit Insurance Corporation (“FDIC”), and the Office of the Comptroller of the Currency (“OCC”). Better Markets works to promote policies that refocus the largest, most dangerous financial institutions away from high-risk, dangerous, and, often, antisocial bonus driven activities and back to traditional banking activities that promote growth, jobs, and broad-based prosperity. We help shape the financial rules to end “too-big-to-fail” and ensure that U.S. taxpayers and the economy are not held hostage to the performance of the largest banks and other systemically important financial institutions.

Population(s) Served

Better Markets security policy team comments on SEC rule proposals, including cutting-edge investor protection issues like PFOF & HFT. Better Markets also pushes prosecutors & regulators, including the SEC, to aggressively investigate misconduct & enforce the law without favor. The SEC implements & enforces the nation’s laws that govern the securities markets to protect investors, maintain fair & efficient markets, & help businesses raise capital to grow. The SEC is responsible for writing rules to ensure that our trading markets remain stable, fair, & transparent, that investors are protected from fraud & abuse, & that companies disclose all important so-called “material” information to investors. The SEC is also responsible for enforcing securities laws & regulations. Often referred to as the “cop on the Wall Street beat,” it is supposed to police the securities markets &, like cops on Main Street, catch lawbreakers, punish them, & deter others from violating the law.

Population(s) Served

Better Markets derivatives team advocates for strong guardrails through the rulemaking process, monitors the CFTC’s enforcement program, and defends against the industry’s attacks on the CFTC’s authority. Many ingredients of life’s essentials are commodities: the gas you put in your car, the wheat in the cereal you eat for breakfast, and the inputs for plastic in children’s toys. However, long before they reach your home, those commodities are subject to lots of market forces and other variables in getting from the oil well or farm to the local store. Commodity derivatives markets were created for producers and purchasers to deal with the risks from those variables, but those markets will not function as intended if there is excessive speculation and a lack of market integrity. The Commodities Futures Trading Commission (“CFTC”) is the agency charged with regulating the commodities and related futures, options, and derivatives markets.

Population(s) Served

Better Markets monitors the federal courts to identify cases that affect the financial lives of American investors & the wallets of consumers. Through litigation, “friend of the court” filings, & publication of special reports, we counter industry arguments, advance the public interest, & employ legal arguments to promote the fairness, transparency, & stability of the U.S. financial system. The issues we tackle include how courts interpret financial laws & regulations, which enforcement tools agencies will have at their disposal, & whether ripped off investors can seek relief from the courts or must bring their claims in biased & secretive arbitration proceedings. We also address the fundamental threshold question of “standing” under the Constitution: Does the investor, consumer, or public interest plaintiff have a sufficient “injury” to allow a fed court to hear & resolve the claim? That critical question—too often answered “no”—determines whether those seeking relief will be heard.

Population(s) Served

Better Markets consumer protection team fights to ensure financial consumers are protected by analyzing & commenting on CFPB rule proposals—usually to counter opposition from the industry—pushing for enforcement. Widespread abuse & exploitation of consumers causes massive harm & contributes to economic injustice, as predators often target under-privileged communities. Financial fraud contributed to financial instability & 2008 crash. As millions of fraudulent mortgages & other investment products provided the fuel for a near-total economic meltdown. While there were many consumer protection laws on the books, they were largely unenforced, neglected, or ignored by regulatory agencies, particularly the Fed, but also the OCC & others. The Dodd-Frank Act created the CFPB to correct those failures & ensure that protecting consumers from unfair, deceptive, or abusive practices was the only priority for a federal agency, returning more than $12 billion to more than 27 million Americans.

Population(s) Served

The intersection of climate change and finance has taken on a higher profile over the last few years, and it will be a focal point for regulators and public interest advocates for years to come. As a key component of the Environmental, Social, and Governance (“ESG”) movement, climate-related advocacy in the financial regulatory space needs to be increased, coordinated, comprehensive, and integrated to have a real impact. Better Markets’ Climate Initiative brings this comprehensive, coordinated, and integrated approach to finance, to elevate ESG as a priority across all the agencies and all the markets they regulate.

Population(s) Served

The financial system and the financial industry have played a major role in creating, embedding, perpetuating, and sustaining the structural financial and economic inequalities faced by poor, underprivileged, unrepresented, and disenfranchised communities. Unaddressed, these financial, economic, political, and power imbalances will persist and intensify, increasing inequality and reducing living standards as well as threatening the economic security, opportunity, and prosperity of all other
Americans. Better Markets’ Racial Inequality Initiative fights for economic and financial systems that serve society and benefit all Americans—not just the wealthy, connected and powerful.

Population(s) Served
Adults
Ethnic and racial groups
Social and economic status
Adults
Ethnic and racial groups
Social and economic status
Adults
Ethnic and racial groups
Social and economic status
Adults
Ethnic and racial groups
Social and economic status
Adults
Ethnic and racial groups
Social and economic status
Adults
Ethnic and racial groups
Social and economic status
Adults
Ethnic and racial groups
Social and economic status

Where we work

Financials

Better Markets Inc.
Fiscal year: Jan 01 - Dec 31
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

9.38

Average of 14.61 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

11.8

Average of 11.2 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

16%

Average of 12% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Better Markets Inc.

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Better Markets Inc.

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Better Markets Inc.

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of Better Markets Inc.’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2017 2018 2019 2020 2022
Unrestricted surplus (deficit) before depreciation $373,453 -$369,308 -$259,642 -$560,974 $687,862
As % of expenses 14.5% -14.1% -9.7% -20.1% 23.0%
Unrestricted surplus (deficit) after depreciation $373,453 -$374,156 -$264,740 -$568,195 $665,075
As % of expenses 14.5% -14.2% -9.9% -20.3% 22.0%
Revenue composition info
Total revenue (unrestricted & restricted) $3,232,823 $2,255,691 $2,418,537 $2,225,155 $3,951,265
Total revenue, % change over prior year -8.1% -30.2% 7.2% -8.0% 0.0%
Program services revenue 0.0% 0.0% 0.0% 0.0% 0.0%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 0.2% 1.6% 0.9% 0.2% 0.3%
Government grants 0.0% 0.0% 0.0% 0.0% 0.0%
All other grants and contributions 80.1% 95.5% 99.0% 99.8% 99.7%
Other revenue 19.7% 2.9% 0.0% 0.0% 0.0%
Expense composition info
Total expenses before depreciation $2,575,746 $2,624,999 $2,678,179 $2,786,129 $2,996,984
Total expenses, % change over prior year -9.0% 1.9% 2.0% 4.0% 0.0%
Personnel 68.9% 58.6% 55.9% 55.3% 67.3%
Professional fees 10.7% 22.1% 23.8% 26.9% 15.5%
Occupancy 13.8% 13.6% 13.5% 12.9% 11.9%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 0.0% 0.0% 0.0% 0.0% 0.0%
All other expenses 6.6% 5.8% 6.8% 5.0% 5.3%
Full cost components (estimated) info 2017 2018 2019 2020 2022
Total expenses (after depreciation) $2,575,746 $2,629,847 $2,683,277 $2,793,350 $3,019,771
One month of savings $214,646 $218,750 $223,182 $232,177 $249,749
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $24,240 $6,989 $29,874 $0
Total full costs (estimated) $2,790,392 $2,872,837 $2,913,448 $3,055,401 $3,269,520

Capital structure indicators

Liquidity info 2017 2018 2019 2020 2022
Months of cash 17.9 14.6 12.3 9.7 11.8
Months of cash and investments 17.9 14.6 12.3 9.7 11.8
Months of estimated liquid unrestricted net assets 16.8 14.7 13.2 10.1 11.4
Balance sheet composition info 2017 2018 2019 2020 2022
Cash $3,831,788 $3,184,310 $2,735,504 $2,263,251 $2,958,226
Investments $0 $0 $0 $0 $0
Receivables $0 $208,150 $205,000 $507,177 $275,000
Gross land, buildings, equipment (LBE) $200,928 $225,168 $232,157 $262,031 $316,729
Accumulated depreciation (as a % of LBE) 100.0% 91.4% 90.8% 83.2% 79.5%
Liabilities (as a % of assets) 7.1% 7.1% 6.9% 16.3% 9.0%
Unrestricted net assets $3,605,439 $3,231,283 $2,966,543 $2,398,348 $2,903,896
Temporarily restricted net assets $0 $0 N/A N/A N/A
Permanently restricted net assets $0 $0 N/A N/A N/A
Total restricted net assets $0 $0 $0 $0 $275,000
Total net assets $3,605,439 $3,231,283 $2,966,543 $2,398,348 $3,178,896

Key data checks

Key data checks info 2017 2018 2019 2020 2022
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Letter of Determination is not available for this organization
Form 1023/1024 is not available for this organization

CEO, President and Founder

Dennis Kelleher

Dennis Kelleher is Co-founder, President and Chief Executive Officer of Better Markets, a Washington DC-based nonprofit established to make finance and government serve society, fight injustice and inequality, and promote economic security, opportunity, and prosperity for all Americans. At Better Markets, Mr. Kelleher’s leadership requires operating in the legislative, executive, and judicial branches simultaneously while developing and driving communications strategies to support those policy efforts. Since founding Better Markets in 2010, he has been quoted more than 3,000 times, done more than 150 live TV appearances, participated in more than 300 rulemakings and 25 legal cases, and testified more than 10 times. Mr. Kelleher served as a member of the Biden-Harris Transition team and, from September 2020 through January 2021, was on the Federal Reserve, Banking and Securities Agency Review Team and worked with the Treasury Department and Department of Justice teams. In April 2022,

Number of employees

Source: IRS Form 990

Better Markets Inc.

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
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Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

Better Markets Inc.

Highest paid employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of highest paid employee data for this organization

Better Markets Inc.

Board of directors
as of 07/31/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Michael Masters

Masters Capital Management

Dedrick Asante-Muhammad

NCRC

Donnel Baird

BlocPower

David desJardins

Adam White

Digital Research & Trading

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Not applicable
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Not applicable
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Not applicable
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Not applicable

Organizational demographics

SOURCE: Self-reported; last updated 9/28/2021

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male, Not transgender
Sexual orientation
Heterosexual or Straight
Disability status
Decline to state

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

Disability

No data

Equity strategies

Last updated: 09/28/2021

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We use a vetting process to identify vendors and partners that share our commitment to race equity.
  • We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.

Contractors

Fiscal year ending

Professional fundraisers

Fiscal year ending

SOURCE: IRS Form 990 Schedule G

Solicitation activities
Gross receipts from fundraising
Retained by organization
Paid to fundraiser