Cfa Society Of Chicago
- Assets
- $3.3m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 9
- Location
- Chicago, IL
- Founding
- 04/1967
- Data as of
- 08/2023
- EIN
- 36-2595074
Organization Overview
Cfa Society Of Chicago is located in Chicago, IL. The organization was established in 1967. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. As of 08/2023, Cfa Society Of Chicago employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cfa Society Of Chicago 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 08/2023, Cfa Society Of Chicago generated $2.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $1.8m during the year ending 08/2023. While expenses have increased by 1.9% per year over the past 6 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 CHICAGO AIMS TO LEAD THE INVESTMENT MANAGEMENT AND FINANCIAL SERVICES PROFESSIONS BY PROMOTING THE HIGHEST STANDARDS OF ETHICS, CONTINUING EDUCATION, AND PROFESSIONAL EXCELLENCE FOR THE ULTIMATE BENEFIT OF SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPECIAL EDUCATIONAL EVENTS INCLUDE AN ANNUAL DINNER AND OTHER EVENTS DESIGNED TO FACILITATE NETWORKING AND INTERACTION AMONG THE MEMBERS AND INVESTMENT PROFESSIONALS. APPROXIMATELY 777 INVESTMENT PROFESSIONALS REGISTERED TO ATTEND OUR 2022 ANNUAL DINNER.
CFA SOCIETY CHICAGO PARTNERS WITH THE ECONOMIC AWARENESS COUNCIL AND THE GREENWOOD PROJECT TO SHAPE THE INVESTMENT INDUSTRY AND SERVE THE GREATER GOOD BY SHARING FINANCIAL LITERACY VOLUNTEER OPPORTUNITIES FOR CFA MEMBERS TO TEACH INNER CITY HIGH SCHOOL STUDENTS THE BASICS OF SAVINGS AND INVESTMENTS AND TO MENTOR MINORITY COLLEGE STUDENTS AND TO INTRODUCE THEM TO CAREERS IN THE FINANCE INDUSTRY.
ACADEMIC PROGRAMS ARE DESIGNED TO EDUCATE ATTENDEES ON CURRENT ISSUES OF IMPORTANCE IN THE PROFESSION. MEMBERS RECEIVE CONTINUING EDUCATION CREDITS WITH THE CFA INSTITUTE FOR MOST OF THESE EVENTS. THERE WERE OVER 44 PROGRAMS HELD DURING THE YEAR, WITH 3,413 REGISTERED TO ATTEND.
MEMBER DEVELOPMENT FOCUSES ON ENHANCING THE MEMBERSHIP EXPERIENCE FOR, AND BUILDING A SENSE OF COMMUNITY AMONG, INVESTMENT PROFESSIONALS BY WELCOMING NEW MEMBERS INTO THE SOCIETY AND MAINTAINING A SENSE OF ENGAGEMENT WITH THE SOCIETY THROUGHOUT THE COURSE OF MEMBERS' CAREERS. IT ALSO FOCUSES ON MAINTAINING THE RELATIONSHIP BETWEEN CFA SOCIETY CHICAGO AND LOCAL UNIVERSITIES. CFA SOCIETY CHICAGO WORKED WITH LOCAL UNIVERSITIES TO ENGAGE UNDERGRADUTE AND GRADUATE STUDENTS IN THE CFA INSTITUTE RESEARCH CHALLENGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Fitzpatrick Chair | OfficerTrustee | 1 | $0 |
Garret Glawe Immediate Past Chair | OfficerTrustee | 1 | $0 |
Catherine Drake Vice Chair | OfficerTrustee | 1 | $0 |
Jeremy Heer Secretary Treasurer | OfficerTrustee | 1 | $0 |
James Boudreault Director | Trustee | 0.5 | $0 |
Matthew Morris Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $114,041 |
| All other contributions, gifts, grants, and similar amounts not included above | $503,602 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $617,643 |
| Total Program Service Revenue | $881,249 |
| Investment income | $45,832 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $47,568 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $521,141 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,113,433 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $400,242 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $319,116 |
| Pension plan accruals and contributions | $12,768 |
| Other employee benefits | $54,422 |
| Payroll taxes | $54,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,703 |
| Fees for services: Accounting | $46,095 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,185 |
| Advertising and promotion | $6,317 |
| Office expenses | $75,090 |
| Information technology | $67,555 |
| Royalties | $0 |
| Occupancy | $128,399 |
| Travel | $9,150 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $445,728 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,891 |
| Insurance | $7,434 |
| All other expenses | $0 |
| Total functional expenses | $1,773,026 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $624,409 |
| Savings and temporary cash investments | $31 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,800 |
| 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 | $147,836 |
| Net Land, buildings, and equipment | $21,734 |
| Investments—publicly traded securities | $1,494,977 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $954,503 |
| Total assets | $3,272,290 |
| Accounts payable and accrued expenses | $87,348 |
| Grants payable | $0 |
| Deferred revenue | $695,746 |
| 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 | $948,840 |
| Total liabilities | $1,731,934 |
| Net assets without donor restrictions | $1,540,356 |
| 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 | $3,272,290 |