Cfa Society Of Minnesota
- Assets
- $626.5k
- Revenue
- $462.9k
- Investments
- $0.0
- Employees
- 4
- Location
- Minneapolis, MN
- Founding
- 04/2004
- Data as of
- 08/2023
- EIN
- 41-1861989
Organization Overview
Cfa Society Of Minnesota is located in Minneapolis, MN. The organization was established in 2004. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 08/2023, Cfa Society Of Minnesota employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cfa Society Of Minnesota 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 Minnesota generated $462.9k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $464.2k during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 8 years. 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
TO ADVANCE PROFESSIONAL EXCELLENCE WHILE PROMOTING ETHICAL BEHAVIOR AND FELLOWSHIP THROUGH DEVELOPMENT AND ENGAGEMENT OPPORTUNITIES FOR OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL DINNER - THE CFAMN ANNUAL DINNER IS OUR LARGEST PUBLIC AWARENESS EVENT, DESIGNED TO RAISE THE LEVEL OF AWARENESS OF OUR MEMBERS IN THE BROADER COMMUNITY AS WELL AS BRING TOGETHER AS LARGE A GROUP OF MEMBERS AS POSSIBLE TO CONTINUE WORKING TOWARD DEVELOPMENT OF "COMMUNITY." A VERITABLE "WHO'S WHO" OF THE LOCAL INVESTMENT COMMUNITY - CLIENTS, SPOUSES AND EMPLOYERS AS WELL AS THE GENERAL MEMBERSHIP - IS INVITED AND ENCOURAGED TO ATTEND. THE ANNUAL DINNER WAS HELD IN FEBRUARY 2023 WITH 300 ATTENDEES.
PROFESSIONAL LEARNING - PROFESSIONAL LEARNING EVENTS ARE HELD THROUGHOUT OUR ACTIVE MONTHS (SEPTEMBER THROUGH JUNE). PROGRAMS TYPICALLY ARE OFFERED IN AN EVENING FORMAT AND PROVIDE UPDATES ON CURRENT INDUSTRY TOPICS AND BEST PRACTICES. MEETINGS ARE OPEN TO MEMBERS, OTHER INDUSTRY PROFESSIONALS AND STUDENTS. SPEAKERS ARE REPRESENTATIVES FROM THE FINANCIAL SERVICES INDUSTRY, BOTH LOCAL AND NATIONAL PERSPECTIVES. IN FY2023 (SEP 2022-AUG 2023), WE OFFERED MORE THAN 24 IN PERSON AND VIRTUAL EVENTS, ATTENDED BY MORE THAN 900.
NEW CFA CHARTERHOLDER RECOGNITION - THE CHARTERED FINANCIAL ANALYST (CFA) DESIGNATION IS A GLOBALLY RECOGNIZED STANDARD FOR MEASURING THE COMPETENCE AND INTEGRITY OF INVESTMENT PROFESSIONALS. THE THREE LEVELS OF EXAMINATION VERIFY A CANDIDATE'S ABILITY TO APPLY THESE PRINCIPLES ACROSS ALL AREAS OF THE INVESTMENT DECISION-MAKING PROCESS. THE PROGRAM'S PROFESSIONAL CONDUCT REQUIREMENTS DEMAND THAT BOTH CFA CANDIDATES AND CHARTERHOLDERS ADHERE TO THE HIGHEST STANDARDS OF ETHICAL RESPONSIBILITY. IN FY 23 WE HELD 1 DINNER WITH MORE THAN 60 ATTENDEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris May Immediate Past President | OfficerTrustee | 5 | $0 |
Kate Lyons President | OfficerTrustee | 10 | $0 |
Rob Britton Vice President | OfficerTrustee | 10 | $0 |
Cory Markling Treasurer | OfficerTrustee | 10 | $0 |
Melissa Gilbertson Secretary | OfficerTrustee | 5 | $0 |
Christy Bipes Director | Trustee | 2 | $0 |
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 | $457,741 |
| Investment income | $3,922 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $462,913 |
| 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. | $136,416 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,050 |
| Pension plan accruals and contributions | $1,633 |
| Other employee benefits | $0 |
| Payroll taxes | $16,678 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $81 |
| Fees for services: Accounting | $14,868 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,885 |
| Advertising and promotion | $268 |
| Office expenses | $12,109 |
| Information technology | $28,418 |
| Royalties | $0 |
| Occupancy | $40,906 |
| Travel | $6,872 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,274 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,477 |
| All other expenses | $13,786 |
| Total functional expenses | $464,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,586 |
| Savings and temporary cash investments | $570,942 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,158 |
| 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 | $18,683 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,100 |
| Total assets | $626,469 |
| Accounts payable and accrued expenses | $44,732 |
| Grants payable | $0 |
| Deferred revenue | $161,139 |
| 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 | $0 |
| Total liabilities | $205,871 |
| Net assets without donor restrictions | $420,598 |
| 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 | $626,469 |