Consolidated Audit Trail
Legal name: Consolidated Audit Trail Llc
Nonprofit profile at a glance
- EIN
- 842967946
- IRS 990 coverage
- 2019–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-N 2019
- Location
- New York, NY, USA
- Phone
- 1-877-FINRA-3348
- Rating confidence
- Limited
Reported finances
- Revenue
- $359,453,521
- Expenses
- $214,216,775
- Assets
- $330,989,283
- Liabilities
- $815,273,357
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Highest reported compensation
- A DUER MEEHAN (CHIEF COMPLIANCE OFFICER): $766,502 total reported compensation
- DAVID YACONO (CHIEF INFORMATION SECURITY): $520,250 total reported compensation
- BRANDON BECKER (CHAIR, OPERATING COMMITTEE): $134,984 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To create, implement, and maintain a consolidated audit trail that tracks orders throughout their life cycle and identifies the broker-dealers handling them, allowing regulators to efficiently track activity in Eligible Securities throughout the U.S. markets.
What it reported doing in 2024
Development of software. As of 03/15/2024, completion of transition of the im and regulator portals to finra cat environment.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 66
- Accountability: 84
- Sustainability: 70
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 40.4%; rating input score 95; 95th percentile among comparable filings
- Total-asset coverage ratio: 1.55; rating input score 54; 54th percentile among comparable filings
- Liabilities to assets ratio: 2.46; rating input score 1; 1st percentile among comparable filings
- Officer compensation ratio: 0.7%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 85.5% per year; rating input score 100; 99th percentile among comparable filings
- Asset growth: 53.6% per year; rating input score 100; 99th percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $767K · 12 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $198.4M reported
- Consistency: 11 of 11 current checks pass
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 6 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- Review — Sustainability: Total-asset coverage ratio scored 54/100.
- High — Sustainability: Liabilities to assets ratio scored 1/100.