Cfa Society Boston Inc
- Assets
- $6.7m
- Revenue
- $1.9m
- Investments
- $4.4m
- Employees
- 6
- Location
- Boston, MA
- Founding
- 06/1970
- Data as of
- 06/2023
- EIN
- 23-7069432
Organization Overview
Cfa Society Boston Inc is located in Boston, MA. The organization was established in 1970. According to its NTEE Classification (I99) the organization is classified as: Crime & Legal-Related N.E.C., under the broad grouping of Crime & Legal-Related and related organizations. As of 06/2023, Cfa Society Boston Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cfa Society Boston Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2023, Cfa Society Boston Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $1.9m during the year ending 06/2023. While expenses have increased by 2.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CFA SOCIETY BOSTON MEMBERS PROMOTE THE HIGHEST ETHICAL STANDARDS, BEST PRACTICES AND PROFESSIONAL DEVELOPMENT WITHIN THE INVESTMENT INDUSTRY TO EDUCATE AND BUILD TRUST IN THE COMMUNITY IT SERVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CFA SOCIETY BOSTON OFFERS OPPORTUNITIES FOR MEMBERS TO ENGAGE IN MENTORING AND BOTH TECHNICAL AND SOFT SKILLS DEVELOPMENT THAT FURTHER ENHANCE THEIR CAREER TRAJECTORY. THE NORMALLY IN-PERSON EDUCATIONAL PROGRAMS ARE EXTREMELY POPULAR WITH MEMBERS, RANGING FROM TOPICS SUCH AS FINTECH, ESG AND GLOBAL MACROECONOMIC TRENDS. SINCE THE BEGINNING OF THE PANDEMIC, THE SOCIETY SHIFTED ITS PROGRAMMING TO VIRTUAL, AND AS A RESULT EVEN MORE MEMBERS BECAME ENGAGED. AS A THOUGHT LEADER IN THE BOSTON INVESTMENT COMMUNITY, CFA SOCIETY BOSTON AND ITS LEADERSHIP ARE COMMITTED TO PROVIDING A VALUABLE AND DYNAMIC EXPERIENCE FOR ITS MEMBERS. CFA BOSTON MEMBERS VALUE LIVE EVENTS SO THE SOCIETY HAS HELD AND CONTINUES TO HOLD SMALL EVENTS IN SAFE (TYPICALLY OUTDOOR) ENVIRONMENTS. THE SOCIETY PLANS TO HOLD MORE EVENTS LIVE IN CALENDAR YEAR 2023. IN FACT, WE PLAN TO CONDUCT OUR POPULAR ANNUAL MARKET DINNER LIVE TAKING ALL APPROPRIATE PRECAUTIONS.
DISCUSSING THE INTERSECTION OF FINANCE AND TECHNOLOGY. IN ADDITION TO CONFERENCES, THE SOCIETY ALSO OFFERS INDUSTRY ANALYSIS SEMINARS, CFA CANDIDATE PREP, AND ONLINE LEARNING OPPORTUNITIES THROUGH WEBINARS AND VIDEOS. OUR CFA PRACTICE EXAM IS USED BY CFA CANDIDATES GLOBALLY TO PREPARE FOR THE CFA EXAM. WE ALSO WORK WITH EDUCATIONAL PARTNERS TO DELIVER CANDIDATE EXAM PREP TO LOCAL CANDIDATES. OUR CIO ROUNDTABLE (WHICH WE PLAN ON RETURNING TO ANNUAL PROGRAM) FEATURES INVESTMENT EXECUTIVES FROM ASSET OWNERS AND ASSET MANAGERS DISCUSSING TRENDS IN INVESTMENTS AND ASSET ALLOCATION. EDUCATION REMAINS AT THE CORE OF WHO WE ARE AND WHAT WE DO. CONTINUING EDUCATION NOT ONLY MAKES THE PROFESSIONAL BETTER, IT MAKES FOR A BETTER PROFESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeanne Wolf CEO | OfficerTrustee | 40 | $206,599 |
Garabed Sarkissian Dir. Education & Content | 40 | $188,608 | |
Renee Russo Chief Operating Oficer | Officer | 40 | $166,151 |
Brent Bell CFA Immediate Past Chair | OfficerTrustee | 5 | $0 |
Heather M Young CFA Chair, Education | OfficerTrustee | 5 | $0 |
Asha Mehta CFA Secretary | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,004,567 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,004,567 |
| Total Program Service Revenue | $538,760 |
| Investment income | $136,018 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $155,000 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,853,709 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $421,914 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $303,773 |
| Pension plan accruals and contributions | $47,964 |
| Other employee benefits | $98,667 |
| Payroll taxes | $68,610 |
| Fees for services: Management | $21,528 |
| Fees for services: Legal | $4,990 |
| Fees for services: Accounting | $26,145 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,562 |
| Advertising and promotion | $8,458 |
| Office expenses | $32,473 |
| Information technology | $162,451 |
| Royalties | $0 |
| Occupancy | $133,153 |
| Travel | $16,382 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,712 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,132 |
| Insurance | $16,465 |
| All other expenses | $0 |
| Total functional expenses | $1,890,424 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,400 |
| Savings and temporary cash investments | $189,309 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,240 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $102,388 |
| Net Land, buildings, and equipment | $147,875 |
| Investments—publicly traded securities | $603,814 |
| Investments—other securities | $4,359,322 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,119,910 |
| Total assets | $6,655,258 |
| Accounts payable and accrued expenses | $131,665 |
| Grants payable | $0 |
| Deferred revenue | $245,800 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,114,665 |
| Total liabilities | $1,492,130 |
| Net assets without donor restrictions | $5,163,128 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,655,258 |