Cfa Institute
- Assets
- $744.6m
- Revenue
- $299.6m
- Investments
- $0.0
- Employees
- 581
- Location
- Charlottesville, VA
- Founding
- 12/1986
- Data as of
- 08/2021
- 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 08/2021, Cfa Institute employed 581 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 08/2021, Cfa Institute generated $299.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $299.6m during the year ending 08/2021. While expenses have increased by 1.7% 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.
Since 2015, Cfa Institute has awarded 650 individual grants totaling $52,588,663. 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
2021
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 MEMBER SERVICES: THE ORGANIZATION PROMOTES LIFELONG LEARNING BY SPONSORING AND DISSEMINATING A VARIETY OF EDUCATIONAL CONTENT TO INVESTMENT PROFESSIONALS ON TOPICS RELEVANT TO THE PROFESSION. IT ALSO PROVIDES CAREER DEVELOPMENT RESOURCES, CREATES AFFILIATION AND NETWORKING OPPORTUNITIES, AND PROMOTES AWARENESS AND RECOGNITION OF MEMBER CREDENTIALS TO THE INDUSTRY AND INVESTING PUBLIC.
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.
CFA INSTITUTE ALSO PROVIDES A VARIETY OF PROGRAMS AND SERVICES TO ITS MEMBERS AND TO THE GLOBAL INVESTMENT COMMUNITY AT LARGE. PROGRAMS INCLUDE THE CERTIFICATE IN INVESTMENT PERFORMANCE MEASURMENT (CIPM), A DESIGNATION PROGRAM FOR PROFESSIONALS THAT PRODUCE, INTERPRET, PRESENT AND EXPLAIN INVESTMENT PERFORMANCE AND PRODUCTS (INCLUDING SELECTION AND EVALUATION OF INVESTMENT MANAGERS), AND THE CFA INSTITUTE INVESTMENT FOUNDATIONS, A PROGRAM FOR NON-PROFESSIONALS WORKING IN THE INVESTMENT MANAGEMENT INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allison Holmes Chief Fin & Risk Officer (exit 8/21) | Officer | 40 | $580,154 |
Margaret Franklin CFA Pres & CEO & Resrch Fdn Bd Mem | OfficerTrustee | 40 | $558,892 |
Emily Dunbar Managing Dir. (exit 6/30/20) | 40 | $530,378 | |
Martin Colburn Managing Director | Officer | 40 | $429,558 |
Gary Baker Managing Director (exit 5/1/21) | Officer | 40 | $389,335 |
Stephen M Horan CFA Managing Director (exit 3/1/21) | Officer | 40 | $382,409 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Watermelon Express Inc Dba Benchprep Professional Services | 8/30/21 | $6,167,708 |
The Boston Consulting Group Inc Consulting | 8/30/21 | $3,245,000 |
Teksystems Inc Professional Services | 8/30/21 | $3,082,076 |
Ernst & Young Us Llp Professional Services | 8/30/21 | $3,825,693 |
Wpp Group Usa Inc (The Ogilvy Group) Advertising | 8/30/21 | $12,170,691 |
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 | $276,135,280 |
| Investment income | $11,191,622 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $607,839 |
| Net Rental Income | $77,270 |
| Net Gain/Loss on Asset Sales | $10,792,865 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $299,621,233 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,294,467 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $12,217,111 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $7,156,946 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $84,575,473 |
| Pension plan accruals and contributions | $10,081,268 |
| Other employee benefits | $9,795,566 |
| Payroll taxes | $5,855,134 |
| Fees for services: Management | $149,569 |
| Fees for services: Legal | $1,495,048 |
| Fees for services: Accounting | $4,807,962 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $195,274 |
| Fees for services: Other | $10,358,421 |
| Advertising and promotion | $14,876,235 |
| Office expenses | $12,911,518 |
| Information technology | $21,929,659 |
| Royalties | $0 |
| Occupancy | $13,335,985 |
| Travel | $471,913 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,489,950 |
| Interest | $139,531 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,975,485 |
| Insurance | $1,439,338 |
| All other expenses | $1,931,181 |
| Total functional expenses | $299,566,682 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,751,548 |
| Savings and temporary cash investments | $132,843,069 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,100,184 |
| 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 | $16,189,670 |
| Net Land, buildings, and equipment | $4,837,555 |
| Investments—publicly traded securities | $537,809,723 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $14,004,612 |
| Other assets | $9,021,063 |
| Total assets | $744,557,424 |
| Accounts payable and accrued expenses | $59,059,130 |
| Grants payable | $0 |
| Deferred revenue | $370,222,205 |
| 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 | $2,514,036 |
| Total liabilities | $431,795,371 |
| Net assets without donor restrictions | $312,762,053 |
| 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 | $744,557,424 |
Grants Awarded
Over the last fiscal year, Cfa Institute has awarded $5,294,467 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GEN SUPPORT | $783,284 |
Boston, MA PURPOSE: GEN SUPPORT | $307,017 |
Chicago, IL PURPOSE: GEN SUPPORT | $243,510 |
San Francisco, CA PURPOSE: GEN SUPPORT | $216,971 |
Sherman Oaks, CA PURPOSE: GEN SUPPORT | $185,299 |
Philadelphia, PA PURPOSE: GEN SUPPORT | $177,194 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cfa Institute has recieved totaling $275.
| Awarding Organization | Amount |
|---|---|
Clare And Robert Gray Charitable Foundation Rumson, NJ PURPOSE: CHARITY | $275 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cfa Institute Charlottesville, VA | $744,557,424 | $299,621,233 |
Ancient Free & Accepted Masons Of Maryland Grand Lodge Cockeysville, MD | $187,202,317 | $9,692,713 |
Fraternal Order Of Police Nashville, TN | $35,888,795 | $16,806,442 |
Ancient & Accepted Scottish Rite Of Free Masonry So Juris Usa Washington, DC | $28,646,656 | $6,184,451 |
Federal Law Enforcement Officers Association Inc Bethesda, MD | $2,620,306 | $4,544,174 |
North Carolina Masonic Foundation Inc Raleigh, NC | $28,610,068 | $2,708,508 |
Order Of Ahepa Washington, DC | $17,204,115 | $3,013,669 |
United Supreme Council 33rd Degree Aasr Memphis, TN | $5,191,925 | $1,749,263 |
Grand Lodge A F & A M Of Va Richmond, VA | $19,833,089 | $5,647,711 |
Fraternal Order Of Police Lothian, MD | $4,145,097 | $1,811,019 |
Ancient & Accepted Scottish Rite Of Free Masonry So Juris Usa Washington, DC | $4,897,662 | $1,070,077 |
Order Of The Eastern Star General Grand Chapter Washington, DC | $8,438,724 | $1,456,000 |