Cfa Institute
- Assets
- $774.5m
- Revenue
- $360.3m
- Investments
- $0.0
- Employees
- 502
- Location
- Charlottesville, VA
- Founding
- 12/1986
- Data as of
- 08/2023
- EIN
- 54-1386480
Organization Overview
Cfa Institute is located in Charlottesville, VA. The organization was established in 1986. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 08/2023, Cfa Institute employed 502 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cfa Institute 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 Institute generated $360.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $272.0m during the year ending 08/2023. While expenses have increased by 0.1% per year over the past 8 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.
Since 2015, Cfa Institute has awarded 654 individual grants totaling $47,859,126. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE STATEMENT O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHARTERED FINANCIAL ANALYST (CFA) PROGRAM: THE ORGANIZATION ADMINISTERS THE CFA PROGRAM, A THREE-LEVEL, EDUCATION AND EXAMINATION PROGRAM COVERING TOPICS ESSENTIAL TO THE INVESTMENT DECISION-MAKING PROCESS. PROGRAM TOPICS FORM THE CANDIDATE BODY OF KNOWLEDGE AND INCLUDE ETHICAL AND PROFESSIONAL STANDARDS, QUANTITATIVE METHODS, ECONOMICS, FINANCIAL STATEMENT REPORTING AND ANALYSIS, CORPORATE FINANCE, EQUITY AND FIXED-INCOME ANALYSIS, ALTERNATIVE INVESTMENTS, DERIVATIVES, PORTFOLIO MANAGEMENT, AND WEALTH PLANNING.
PROFESSIONAL DEVELOPMENT SERVICES: THE ORGANIZATION PROMOTES LIFELONG LEARNING BY DEVELOPING AND DISSEMINATING A VARIETY OF EDUCATIONAL COURSES AND CERTIFICATES TO INVESTMENT PROFESSIONALS ON TOPICS RELEVANT TO THE PROFESSION, INCLUDING CERTIFICATE IN ESG INVESTING; CLIMATE RISK, VALUATION AND INVESTING CERTIFICATE, PRIVATE MARKETS AND ALTERNATIVE INVESTMENTS CERTIFICATES, DATA SCIENCE FOR INVESTMENT PROFESSIONS CERTIFICATE, THE CERTIFICATE IN INVESTMENT PERFORMANCE MANAGEMENT AND INVESTMENT FOUNDATIONS CERTIFICATE.
STANDARDS ADVOCACY, AND THOUGHT LEADERSHIP: THE ORGANIZATION IS A LEADING VOICE ON ISSUES OF FAIRNESS, EFFICIENCY, AND INVESTOR PROTECTION IN GLOBAL CAPITAL MARKETS AND PROMOTES HIGH STANDARDS OF ETHICS, INTEGRITY, AND PROFESSIONAL EXCELLENCE WITHIN THE INVESTMENT COMMUNITY. THE ORGANIZATION ALSO PROMOTES AND ENFORCES THE CFA INSTITUTE CODE OF ETHICS AND STANDARDS OF PROFESSIONAL CONDUCT. ALL MEMBERS OF THE ORGANIZATION AND CANDIDATES IN THE CFA PROGRAM ARE REQUIRED TO ADHERE TO THIS CODE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Franklin CFA Pres & CEO & Resrch Fdn Bd Mem | OfficerTrustee | 40 | $1,258,421 |
Mark Lazberger CFA Bog Chair | OfficerTrustee | 1 | $0 |
Tricia Rothschild CFA Bog Vice Chair | OfficerTrustee | 1 | $0 |
Geoffrey Ng CFA Board Member | Trustee | 1 | $0 |
Maria Wilton CFA Board Member | Trustee | 1 | $0 |
Daniel Fasciano CFA Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prometric Llc Professional Svs | 8/30/23 | $30,618,965 |
The Gate Worldwide Llc Advertising | 8/30/23 | $7,558,966 |
Dataart Solutions Inc Professional Svs | 8/30/23 | $9,523,685 |
Watermelon Express Inc Dba Benchprep Professional Svs | 8/30/23 | $5,600,000 |
British Council Professional Svs | 8/30/23 | $7,412,362 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $327,156,040 |
| Investment income | $20,172,069 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $539,909 |
| Net Rental Income | $73,743 |
| Net Gain/Loss on Asset Sales | -$881,014 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $360,345,275 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,080,606 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $10,953,716 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,186,400 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,077,922 |
| Pension plan accruals and contributions | $8,447,918 |
| Other employee benefits | $8,230,664 |
| Payroll taxes | $5,385,636 |
| Fees for services: Management | $821 |
| Fees for services: Legal | $1,553,934 |
| Fees for services: Accounting | $2,421,548 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $248,576 |
| Fees for services: Other | $13,366,052 |
| Advertising and promotion | $10,858,491 |
| Office expenses | $13,948,129 |
| Information technology | $28,744,372 |
| Royalties | $0 |
| Occupancy | $9,677,194 |
| Travel | $6,179,282 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $997,199 |
| Interest | $202 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,124,842 |
| Insurance | $1,033,577 |
| All other expenses | $2,967,167 |
| Total functional expenses | $271,991,297 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,301,469 |
| Savings and temporary cash investments | $177,060,774 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,188,525 |
| 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 | $17,263,214 |
| Net Land, buildings, and equipment | $14,919,213 |
| Investments—publicly traded securities | $497,808,221 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $18,016,314 |
| Other assets | $18,976,128 |
| Total assets | $774,533,858 |
| Accounts payable and accrued expenses | $48,271,795 |
| Grants payable | $0 |
| Deferred revenue | $306,689,592 |
| 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 | $22,016,220 |
| Total liabilities | $376,977,607 |
| Net assets without donor restrictions | $397,556,251 |
| 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 | $774,533,858 |
Grants Awarded
Over the last fiscal year, Cfa Institute has awarded $4,079,257 in support to 69 organizations.
| Grant Recipient | Amount |
|---|---|
CFA SOCIETIES TEXAS PURPOSE: GEN SUPPORT | $57,338 |
CFA INSTITUTE RESEARCH FOUNDATION PURPOSE: GEN SUPPORT | $176,441 |
CFA SOCIETY ARKANSAS PURPOSE: GEN SUPPORT | $28,133 |
CFA SOCIETY ALABAMA PURPOSE: GEN SUPPORT | $35,989 |
CFA SOCIETY ATLANTA PURPOSE: GEN SUPPORT | $44,448 |
CFA SOCIETY AUSTIN PURPOSE: GEN SUPPORT | $38,486 |