Civic Intelligence

Lsta

EIN 13-3867347 • 501(c)6 • New York, NY

Profile

The loan syndications and trading association, inc. ("lsta") promotes a fair, orderly, efficient, and growing corporate loan market and provides leadership in advancing and balancing the interests of all market participants. (see schedule o).the lsta carries out a wide variety of activities to: advocate for the shared interests of all loan market participants, increase market transparency and efficiency, facilitate and improve the settlement process, educate market participants and promote the growth of the loanasset class. Activities include the development of standard forms and documentation and the dissemination of market-pricing information.

366 Madison Avenue 15th FNew York, NY 10017

www.lsta.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

53rd percentile

0.34x

Higher debt load relative to assets than 53% of similar nonprofits.

501(c)6 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

86th percentile

1.03x

Higher debt load relative to revenue than 86% of similar nonprofits.

501(c)6 • $50M-$100M nonprofits • Source year 2024

Net Margin

78th percentile

19%

Higher net margin than 78% of similar nonprofits.

501(c)6 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

75th percentile

$1,285,590

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 7.3% of source-year revenue.

501(c)6 • $50M-$100M nonprofits • Source year 2024

Asset Growth

61st percentile

8.1%

Faster asset growth than 61% of similar nonprofits.

501(c)6 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

38th percentile

3.4%

Faster revenue growth than 38% of similar nonprofits.

501(c)6 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$53,459,067

Up $4,005,274 (+8.1%) from 2023

Liabilities

Up

$18,194,562

Up $589,994 (+3.4%) from 2023

Net Assets

Up

$35,264,505

Up $3,415,280 (+11%) from 2023

Revenue

Up

$17,590,806

Up $574,868 (+3.4%) from 2023

Expenses

Up

$14,254,436

Up $545,046 (+4.0%) from 2023

Net Income

Up

$3,336,370

Up $29,822 (+0.9%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2010: $15,004,509Liabilities 2010: $4,287,299Net Assets 2010: $10,717,2102010Assets 2011: $17,326,353Liabilities 2011: $4,659,867Net Assets 2011: $12,666,4862011Assets 2012: $16,939,294Liabilities 2012: $3,558,547Net Assets 2012: $13,380,7472012Assets 2013: $19,272,740Liabilities 2013: $6,429,865Net Assets 2013: $12,842,8752013Assets 2014: $20,518,215Liabilities 2014: $6,481,153Net Assets 2014: $14,037,0622014Assets 2015: $21,198,868Liabilities 2015: $6,457,944Net Assets 2015: $14,740,9242015Assets 2016: $21,647,057Liabilities 2016: $5,668,861Net Assets 2016: $15,978,1962016Assets 2017: $23,768,084Liabilities 2017: $6,822,837Net Assets 2017: $16,945,2472017Assets 2018: $26,183,909Liabilities 2018: $6,159,268Net Assets 2018: $20,024,6412018Assets 2019: $29,536,063Liabilities 2019: $6,098,993Net Assets 2019: $23,437,0702019Assets 2020: $32,443,554Liabilities 2020: $6,461,115Net Assets 2020: $25,982,4392020Assets 2021: $36,047,040Liabilities 2021: $9,240,772Net Assets 2021: $26,806,2682021Assets 2022: $45,251,433Liabilities 2022: $17,399,960Net Assets 2022: $27,851,4732022Assets 2023: $49,453,793Liabilities 2023: $17,604,568Net Assets 2023: $31,849,2252023Assets 2024: $53,459,067Liabilities 2024: $18,194,562Net Assets 2024: $35,264,5052024

Highlighted filing

2024

Assets$53,459,067
Liabilities$18,194,562
Net Assets$35,264,505

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0Revenue 2010: $10,261,804Expenses 2010: $9,110,263Net Income 2010: $1,151,5412010Revenue 2011: $11,242,769Expenses 2011: $9,601,151Net Income 2011: $1,641,6182011Revenue 2012: $10,857,739Expenses 2012: $10,511,312Net Income 2012: $346,4272012Revenue 2013: $11,768,271Expenses 2013: $11,548,884Net Income 2013: $219,3872013Revenue 2014: $12,081,030Expenses 2014: $11,538,642Net Income 2014: $542,3882014Revenue 2015: $12,456,934Expenses 2015: $11,514,123Net Income 2015: $942,8112015Revenue 2016: $13,052,940Expenses 2016: $11,830,858Net Income 2016: $1,222,0822016Revenue 2017: $13,497,647Expenses 2017: $12,485,497Net Income 2017: $1,012,1502017Revenue 2018: $13,987,509Expenses 2018: $10,823,986Net Income 2018: $3,163,5232018Revenue 2019: $14,969,883Expenses 2019: $11,866,879Net Income 2019: $3,103,0042019Revenue 2020: $12,995,504Expenses 2020: $10,661,699Net Income 2020: $2,333,8052020Revenue 2021: $12,627,909Expenses 2021: $10,502,794Net Income 2021: $2,125,1152021Revenue 2022: $15,270,682Expenses 2022: $12,794,670Net Income 2022: $2,476,0122022Revenue 2023: $17,015,938Expenses 2023: $13,709,390Net Income 2023: $3,306,5482023Revenue 2024: $17,590,806Expenses 2024: $14,254,436Net Income 2024: $3,336,3702024

Highlighted filing

2024

Revenue$17,590,806
Expenses$14,254,436
Net Income$3,336,370

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Summary only. Only limited summary data is available for this year.$53.5$18.2$35.3$17.6$14.3$3.34
2023Summary only. Only limited summary data is available for this year.$49.5$17.6$31.8$17.0$13.7$3.31
2022Summary only. Only limited summary data is available for this year.$45.3$17.4$27.9$15.3$12.8$2.48
2021Summary only. Only limited summary data is available for this year.$36.0$9.24$26.8$12.6$10.5$2.13
2020Summary only. Only limited summary data is available for this year.$32.4$6.46$26.0$13.0$10.7$2.33
2019Summary only. Only limited summary data is available for this year.$29.5$6.10$23.4$15.0$11.9$3.10
2018Summary only. Only limited summary data is available for this year.$26.2$6.16$20.0$14.0$10.8$3.16
2017Summary only. Only limited summary data is available for this year.$23.8$6.82$16.9$13.5$12.5$1.01
2016Summary only. Only limited summary data is available for this year.$21.6$5.67$16.0$13.1$11.8$1.22
2015Summary only. Only limited summary data is available for this year.$21.2$6.46$14.7$12.5$11.5$0.94
2014Summary only. Only limited summary data is available for this year.$20.5$6.48$14.0$12.1$11.5$0.54
2013Summary only. Only limited summary data is available for this year.$19.3$6.43$12.8$11.8$11.5$0.22
2012Summary only. Only limited summary data is available for this year.$16.9$3.56$13.4$10.9$10.5$0.35
2011Summary only. Only limited summary data is available for this year.$17.3$4.66$12.7$11.2$9.60$1.64
2010Summary only. Only limited summary data is available for this year.$15.0$4.29$10.7$10.3$9.11$1.15
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 7, 2025
Return Version
2024v5.2
Gross Receipts
$22,723,465
Mission and Program Overview

Mission

To promote a fair, orderly & efficient corporate loan market & provide leadership in advancing the interests of all market participants

To promote fair, orderly, & efficient corporate loan markets

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$35,030,266$38,568,744▲ $3,538,478
Accounts Receivable$6,047,187$6,523,025▲ $475,838
Cash and Non-Interest-Bearing Accounts$808,937$4,548,271▲ $3,739,334
Savings and Temporary Cash Investments$4,482,137$1,082,558▼ $3,399,579
Prepaid Expenses and Deferred Charges$74,894$144,784▲ $69,890
Land, Buildings, and Equipment, Net$86,677$78,444▼ $8,233
Total Assets$49,453,793$53,459,067▲ $4,005,274
Other Assets Total$2,923,695$2,513,241▼ $410,454
Liabilities
Deferred Revenue$9,873,825$10,395,925▲ $522,100
Accounts Payable and Accrued Expenses$4,404,361$4,881,629▲ $477,268
Other Liabilities$3,326,382$2,917,008▼ $409,374
Total Liabilities$17,604,568$18,194,562▲ $589,994
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$31,849,225$35,264,505▲ $3,415,280
Total Net Assets Fund Balance$31,849,225$35,264,505▲ $3,415,280
Total Liabilities and Net Assets / Fund Balance$49,453,793$53,459,067▲ $4,005,274

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$37,713$449,469$487,182
Other Land Buildings$39,386$428,698$468,084
Leasehold Improvements$1,345$214,586$215,931
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lee ShaimanCEO and Executive DirectorFT$589,271$696,319$1,285,590
Eliot GanzHead of AdvocacyFT$367,258$503,329$870,587
Bridget MarshEvp and General CounselFT$314,886$459,007$773,893
Tess VirmaniDeputy General Counsel and Evp Head of PolicyFT$619,254$104,229$723,483
Tess VirmaniDeputy General Counsel and Evp Head-$284,254$439,229$723,483
Theodore BastaEvp of Market AnalyticsFT$297,171$414,130$711,301
Ellen HefferanEvp of Operations and AccountingFT$294,816$344,579$639,395
Lisa SchneiderEvp of MembershipFT$265,974$302,030$568,004
Meredith CoffeyEvp of Market Research and PolicyFT$50,697$450,572$501,269
Sean GriffinCEO and Executive DirectorFT$364,134$40,095$404,229
Hugo PereiraVP of Market AnalyticsFT$190,814$143,340$334,154
Andrew BerlinVP, Director of Policy ResearchFT$223,622$94,722$318,344
Lorena DelucaDirector of Events and Special ProjectsFT$156,527$60,798$217,325
Lorena DelucaDirector of Events and Special Proje-$108,527$108,798$217,325
Elizabeth YazgiAssociate General CounselFT$151,645$26,770$178,415

Board Members and Trustees

NameTitle
Alexander StrombergCo-chair
David LernerCo-chair
Carly WilsonVice Chair & Secretary
Alex NaboickeckVice Chair & Treasurer
Thomas WongVice Chair at Large
Wynne ComerVice Chair at Large
David MechlinDirector
Dee GreenbergDirector
Francis SutterDirector
Gregory RobbinsDirector
James VanekDirector
Jeff WarrenDirector
Jeremiah LaneDirector
Kevin WhiteDirector
Matthew MatsonDirector
Matthew StanczukDirector
Michael EilertDirector
Mohamed BasmaDirector
Patrick GallagherDirector
Ralph HinckleyDirector
Sabrina Rusnak-carlsonDirector
Seth MisshulaDirector
Todd RothmanDirector
Valerie KritsbergDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Profile Advisors LLCPublic Relations405 LEXINGTON AVENUE 9TH FLOOR, New York, NY 10174$265,628
Federal Hall Policy Advisors LLCRegulatory Support1455 PENNSYLVANIA AVE NW SUITE 400, Washington, DC 20004$260,000
Erica FrontieroAdvisory Services200 EAST 66TH STREET, New York, NY 10065$220,520
Arabella Advisors LLCConsulting Services1828 L STREET NORTHWEST SUITE 300, Washington, DC 20036$206,326
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,874,938
Investment Income
$1,230,885
Other Revenue
$3,484,983
Change in Net Assets
$3,336,370
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,313,633
Other Expenses$4,940,803
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$5,909,747
Other Salaries and Wages---$2,313,564
Conferences and Meetings---$1,507,840
Fees for Services Legal---$792,244
Other Employee Benefits---$541,831
Occupancy---$450,621
Advertising---$393,743
Pension Plan Contributions---$371,712
Office Expenses---$338,593
Fees for Services Other---$328,597
Fees for Services Lobbying---$260,000
Fees for Services Accounting---$242,206
Information Technology---$190,336
Travel---$181,358
Payroll Taxes---$176,779
Fees for Service Investment Mgmnt Fees---$143,774
Depreciation Depletion---$67,579
Insurance---$39,993
Other Expenses---$3,919
Total Functional Expenses$0$0$0$14,254,436
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$260,000
Total Nondeductible Lobbying and Political Cost$260,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Payable, Net$2,917,008
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Lsta, inc. Was incorporated as a membership organization.

Form 990, Part VI, Section A, Line 7A

In november, the executive director sends a notice out to all the full members to inquire if anyone would like to be considered for the board. The nominating committee of the board of directors then sends out questionnaires to those members wishing to be considered, and they interview each candidate. The nominating committee then picks the candidates they feel are the best qualified and best represent the market. The selected candidates are proposed up at the annual meeting (held in january) where the full lsta membership votes.

Form 990, Part VI, Section B, Line 11B

The form 990 is provided to all voting board members via email. An executive committee meeting is held for review and discussion regarding the form 990 for approval and filing.

Form 990, Part VI, Section B, Line 12C

All board members and key employees are required to read our conflict of interest and confidentiality policy and are required afterwards to sign the annual acknowledgement and disclosure statement. The board and key staff must sign a new form every year.

Form 990, Part VI, Section B, Line 15

Policy includes that all compensation be reviewed annually by the executive committee of the board of directors (7 members of the board). Comparability documentation is provided and discussions take place regarding each employee of the organization. Determinations of the executive committee is the final determining factor.

Form 990, Part VI, Section C, Line 19

Available to all members in good standing upon request at the offices of the lsta.

Filing and Contact Details

Filer

Filer Name
Lsta Inc ( Formerly Loan Syndications
EIN
13-3867347
Phone
2128803016
Address
366 MADISON AVENUE 15TH F, NEW YORK, NY 10017

Signing Officer

Name
Alexander Nabiocheck
Title
Vice Chair
Phone
2128803016
Signed
2025-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alexander Nabiocheck
Formed
1995
Legal Domicile
Ny
Voting Board Members
25
Independent Board Members
25
Employees
18
Volunteers
25

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY LLP
Address
ONE BATTERY PARK PLAZA 7TH FL, NEW YORK, NY 10004
Preparer
Alexander Lazzaruolo
Phone
2126617777
Supplemental Narrative

Additional Explanations

Part III - Line 1

The loan syndications and trading association, inc. ("lsta") promotes a fair, orderly, efficient, and growing corporate loan market and provides leadership in advancing and balancing the interests of all market participants. The lsta carries out a wide variety of activities to: advocate for the shared interests of all loan market participants, increase market transparency and efficiency, facilitate and improve the settlement process, educate market participants and promote the growth of the loan asset class. Activities include the development of standard forms and documentation and the dissemination of market-pricing information.

Raw XML AppendixShowing 400 of 870 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0CO-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CO-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIR & SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHAIR AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE CHAIR AT LARGE
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25CEO AND EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26CEO AND EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27HEAD OF ADVOCACY
IRS990/Form990PartVIISectionAGrp/TitleTxt28EVP AND GENERAL COUNSEL
IRS990/Form990PartVIISectionAGrp/TitleTxt29EVP OF MARKET ANALYTICS
IRS990/Form990PartVIISectionAGrp/TitleTxt30EVP OF OPERATIONS AND ACCOUNTING
IRS990/Form990PartVIISectionAGrp/TitleTxt31EVP OF MARKET RESEARCH AND POLICY
IRS990/Form990PartVIISectionAGrp/TitleTxt32DEPUTY GENERAL COUNSEL AND EVP HEAD OF POLICY
IRS990/Form990PartVIISectionAGrp/TitleTxt33EVP OF MEMBERSHIP
IRS990/Form990PartVIISectionAGrp/TitleTxt34VP, DIRECTOR OF POLICY RESEARCH
IRS990/Form990PartVIISectionAGrp/TitleTxt35VP OF MARKET ANALYTICS
IRS990/Form990PartVIISectionAGrp/TitleTxt36DIRECTOR OF EVENTS AND SPECIAL PROJECTS
IRS990/Form990PartVIISectionAGrp/TitleTxt37ASSOCIATE GENERAL COUNSEL
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