Civic Intelligence

Modern Markets Initiative Inc

EIN 46-4440917 • 501(c)4 • Jericho, NY

Profile

The organization is focused on demonstrating the benefits of algorithmic or quantitative trading, often referred to as high-frequency trading, in today's modern markets.

50 Jericho Quadrangle 220Jericho, NY 11753

modernmarketsinitiative.org

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2024

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2024

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2024

Top Officer Pay

100th percentile

$499,808

Higher top officer pay than 100% of similar nonprofits.

501(c)4 • <$500k nonprofits • Source year 2024

Asset Growth

9th percentile

-100%

Faster asset growth than 9% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

4th percentile

-100%

Faster revenue growth than 4% of similar nonprofits.

501(c)4 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $803,916 (-100%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Down

$0

Down $803,916 (-100%) from 2023

Operations
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Down

$0

Down $696,000 (-100%) from 2023

Expenses

Down

$803,916

Down $113,474 (-12%) from 2023

Net Income

Down

-$803,916

Down $582,526 (-263%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth9th percentile

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

$1.5M$1.0M$500K$0Assets 2014: $544,751Liabilities 2014: $374,340Net Assets 2014: $170,4112014Assets 2015: $853,749Liabilities 2015: $109,682Net Assets 2015: $744,0672015Assets 2016: $879,732Liabilities 2016: $57,552Net Assets 2016: $822,1802016Assets 2017: $582,363Liabilities 2017: $29,030Net Assets 2017: $553,3332017Assets 2018: $790,697Liabilities 2018: $17,164Net Assets 2018: $773,5332018Assets 2019: $855,001Liabilities 2019: $10,313Net Assets 2019: $844,6882019Assets 2020: $931,249Liabilities 2020: $17,451Net Assets 2020: $913,7982020Assets 2021: $1,034,896Liabilities 2021: $16,000Net Assets 2021: $1,018,8962021Assets 2022: $1,032,506Liabilities 2022: $7,200Net Assets 2022: $1,025,3062022Assets 2023: $803,916Liabilities 2023: $0Net Assets 2023: $803,9162023Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2024

Assets$0
Liabilities$0
Net Assets$0
Open 2024 Filing

Operations Trend

Revenue Growth4th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $1,055,000Expenses 2014: $884,589Net Income 2014: $170,4112014Revenue 2015: $2,000,000Expenses 2015: $1,426,089Net Income 2015: $573,9112015Revenue 2016: $2,225,000Expenses 2016: $2,146,887Net Income 2016: $78,1132016Revenue 2017: $1,680,000Expenses 2017: $1,948,847Net Income 2017: -$268,8472017Revenue 2018: $925,000Expenses 2018: $704,800Net Income 2018: $220,2002018Revenue 2019: $840,000Expenses 2019: $768,845Net Income 2019: $71,1552019Revenue 2020: $880,000Expenses 2020: $810,890Net Income 2020: $69,1102020Revenue 2021: $880,000Expenses 2021: $774,901Net Income 2021: $105,0992021Revenue 2022: $892,000Expenses 2022: $885,590Net Income 2022: $6,4102022Revenue 2023: $696,000Expenses 2023: $917,390Net Income 2023: -$221,3902023Revenue 2024: $0Expenses 2024: $803,916Net Income 2024: -$803,9162024

Highlighted filing

2024

Revenue$0
Expenses$803,916
Net Income-$803,916
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$0
Expenses
$803,916
Net income
-$803,916
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.80$0.80
2023Detailed filing. Detailed filing data is available for this year.$0.80$0.00$0.80$0.70$0.92$0.22
2022Detailed filing. Detailed filing data is available for this year.$1.03$0.01$1.03$0.89$0.89$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.03$0.02$1.02$0.88$0.77$0.11
2020Detailed filing. Detailed filing data is available for this year.$0.93$0.02$0.91$0.88$0.81$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.86$0.01$0.84$0.84$0.77$0.07
2018Detailed filing. Detailed filing data is available for this year.$0.79$0.02$0.77$0.93$0.70$0.22
2017Detailed filing. Detailed filing data is available for this year.$0.58$0.03$0.55$1.68$1.95$0.27
2016Detailed filing. Detailed filing data is available for this year.$0.88$0.06$0.82$2.23$2.15$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.85$0.11$0.74$2.00$1.43$0.57
2014Detailed filing. Detailed filing data is available for this year.$0.54$0.37$0.17$1.06$0.88$0.17
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Jul 15, 2024
Signed
Sep 5, 2024
Return Version
2023v5.1
Gross Receipts
$0
Mission and Program Overview

Mission

The organization is focused on demonstrating the benefits of algorithmic or quantitative trading, often referred to as high-frequency trading, in today's modern markets.

To demonstrate the benefits of algorithmic or quantitative trading in today's modern markets.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$801,916$0▼ $801,916
Savings and Temporary Cash Investments-$0-
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$803,916$0▼ $803,916
Other Assets Total$2,000$0▼ $2,000
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$803,916$0▼ $803,916
Total Net Assets Fund Balance$803,916$0▼ $803,916
Total Liabilities and Net Assets / Fund Balance$803,916$0▼ $803,916
Compensation and Service Providers
Top Officer Pay100th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kirsten WegnerCEOFT$322,308$177,500$499,808

Board Members and Trustees

NameTitle
Adam NunesDirector
Johannah LaddDirector
Ken WilsonDirector
Richard GrantDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-803,916
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$549,705
Other Expenses$135,217
Grants and Similar Amounts Paid$118,994
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$499,808--$499,808
Grants to Domestic Orgs$118,994--$118,994
Fees for Services Accounting$38,160--$38,160
Fees for Services Other$34,292--$34,292
Other Employee Benefits$26,308--$26,308
Payroll Taxes$19,589--$19,589
Office Expenses$4,183--$4,183
Pension Plan Contributions$4,000--$4,000
All Other Expenses$3,716--$3,716
Other Expenses$3,459--$3,459
Travel$3,078--$3,078
Insurance$1,035--$1,035
Total Functional Expenses$803,916$0$0$803,916
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Bridge to Enter Advanced MathematicsBrooklyn, NY501 (c)(3)Youth Empowerment Eduational Progams.$103,994
Nyu College Career LabNew York, NY501(c)(3)Higher Education.$15,000
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The organization carefully reviews the 990 tax return before it is filed.”

Form 990, Part VI, Section C, Line 19

“The organization accepts requests to view its form 990 and its financial statements.”

Filing and Contact Details

Filer

Filer Name
Modern Markets Initiative Inc
EIN
46-4440917
Phone
2129970600
Address
50 JERICHO QUADRANGLE 220, JERICHO, NY 11753

Signing Officer

Name
Kirsten Wegner
Title
CEO
Phone
6464485182
Signed
2024-09-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kirsten Wegner
Formed
2014
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
0
Employees
3
Volunteers
0

Preparer

Firm
Ddk & Company Llp
Address
ONE PENN PLAZA 6TH FLR, NEW YORK, NY 10119
Preparer
Michael Rubin
Phone
2129970600
Raw XML Appendix365 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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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount0177500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0KIRSTEN WEGNER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0499808
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleN/AssetsDistributedInd01
IRS990ScheduleN/AttorneyGeneralNotifiedInd00
IRS990ScheduleN/BondsOutstandingInd00
IRS990ScheduleN/DirectorOfSuccessorInd00
IRS990ScheduleN/EmployeeOfSuccessorInd00
IRS990ScheduleN/LiabilitiesPaidInd00
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0$2,000 EXPENSE, WRITE OFF OF DEPOSIT.
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02024-07-15
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt02000
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0BOOK VALUE.
IRS990ScheduleN/OwnerOfSuccessorInd00
IRS990ScheduleN/ReceiveCompensationInd00
IRS990ScheduleN/RequiredToNotifyAGInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION CAREFULLY REVIEWS THE 990 TAX RETURN BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION ACCEPTS REQUESTS TO VIEW ITS FORM 990 AND ITS FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd01
IRS990/TotalAssetsBOYAmt0803916
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt0803916
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0803916
IRS990/TotalFunctionalExpensesGrp/TotalAmt0803916
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0803916
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0803916
IRS990/TotalReportableCompFromOrgAmt0499808
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt00
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0803916
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt03078
IRS990/TravelGrp/TotalAmt03078
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0700 K STREET NW SUITE 300
IRS990/USAddress/CityNm0WASHINGTON
IRS990/USAddress/StateAbbreviationCd0DC
IRS990/USAddress/ZIPCd020001
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0HTTP://MODERNMARKETSINITIATIVE.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KIRSTEN WEGNER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum06464485182
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MODERN MARKETS INITIATIVE INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O DDK AND COMPANY LLP
ReturnHeader/Filer/BusinessNameControlTxt0MODE
ReturnHeader/Filer/EIN0464440917
ReturnHeader/Filer/PhoneNum02129970600
ReturnHeader/Filer/USAddress/AddressLine1Txt050 JERICHO QUADRANGLE 220
ReturnHeader/Filer/USAddress/CityNm0JERICHO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011753
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0132738625
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DDK & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE PENN PLAZA 6TH FLR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010119
ReturnHeader/PreparerPersonGrp/PhoneNum02129970600
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL RUBIN
ReturnHeader/ReturnTs02024-09-05T16:16:39-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-07-15
ReturnHeader/TaxYr02023

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