Cfa Institute

Charlottesvle, VA
Tax-exempt since Dec. 1986
EIN: 54-1386480

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Type of Nonprofit

Designated as a 501(c)(6) Business leagues, chambers of commerce, real estate boards, etc, created for the improvement of business conditions.

Donations to this organization are not tax deductible.

Details

According to its Aug. 2023 tax filing, this nonprofit:

Provided first-class or charter travel

Organization provided first-class or charter travel to key employees or officers. Details are reported on Schedule J.

Reported conflict of interest transactions

Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Revenue

$360M (2023)

Expenses

$272M (2023)

Total Assets

$775M (2023)

Total Liabilities

$377M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Aug.
2023

Revenue

$360,345,275

Expenses

$271,991,297

Net Income

$88,353,978

Net Assets

$397,556,251

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$327,156,040	90.8%
Investment Income	$20,172,069	5.6%
Bond Proceeds	$0
Royalties	$539,909	0.1%
Rental Property Income	$73,743	0.0%
Net Fundraising	$0
Sales of Assets	-$881,014
Net Inventory Sales	$0
Other Revenue	$13,284,528	3.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$6,186,400	2.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$74,077,922	27.2%

Assets/Debt
Total Assets	$774,533,858
Total Liabilities	$376,977,607
Net Assets	$397,556,251

Provided first-class or charter travel

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Margaret Franklin Cfa (Pres & Ceo & Resrch Fdn Bd Mem)	$1,258,421	$0	$47,171
Martin Colburn (Managing Director)	$577,156	$0	$49,571
Sheri Kelly (Managing Director)	$560,152	$0	$57,592
Paul Andrews (Managing Director)	$548,046	$0	$58,569
Michael Collins Exit 62022 (Managing Director)	$547,515	$0	$51,073
Steven Hendry (Chief Financial Officer)	$531,455	$0	$65,644
Nick Pollard (Managing Director)	$517,817	$0	$75,557
Barbara Petitt Exit 22023 (Managing Director)	$516,900	$0	$64,672
Chris Wiese (Managing Director)	$466,561	$0	$64,384
Carole Crawford Exit 72023 (Managing Director)	$464,771	$0	$49,096
Paul Moody (Managing Director)	$461,295	$0	$5,391
Heidi Diedrich Exit 82022 (Senior Head, Global B2 C)	$453,287	$0	$47,660
Leilani Hall (Senior Head, Codes And Stand.)	$419,734	$0	$48,504
Sandy Peters (Senior Head, Fin. Rpt Policy)	$415,504	$0	$58,373
Mike Peterson (Chief Techology Officer)	$407,416	$0	$57,325
Vito Lore (Senior Head, Strategy & Plan.)	$391,203	$0	$64,169
Andrew Rome (Managing Director)	$342,592	$0	$56,490
Kurt Schacht Cfa Exit 122022 (Senior Head Adv)	$303,410	$0	$60,955
Chris Ainsworth Exit 62022 (Managing Director)	$245,320	$0	$40,124
Joe Lange (Corporate Secretary)	$210,077	$0	$48,294
Peg Jobst Exit 42022 (Managing Director)	$190,425	$0	$28,257
Mark Lazberger Cfa (Bog Chair)	$0	$0	$0
Tricia Rothschild Cfa (Bog Vice Chair)	$0	$0	$0
Geoffrey Ng Cfa (Board Member)	$0	$0	$0
Maria Wilton Cfa (Board Member)	$0	$0	$0
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990

Filed on June 25, 2024

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Fiscal Year Ending Aug.
2022

Revenue

$346,815,960

Expenses

$278,732,579

Net Income

$68,083,381

Net Assets

$291,552,844

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$390,617	0.1%
Program Services	$328,773,914	94.8%
Investment Income	$16,097,203	4.6%
Bond Proceeds	$0
Royalties	$675,254	0.2%
Rental Property Income	$73,846	0.0%
Net Fundraising	$0
Sales of Assets	-$115,542
Net Inventory Sales	$0
Other Revenue	$920,668	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$6,687,272	2.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$75,515,086	27.1%

Assets/Debt
Total Assets	$663,377,785
Total Liabilities	$371,824,941
Net Assets	$291,552,844

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Margaret Franklin Cfa (Pres & Ceo & Resrch Fdn Bd Member)	$1,276,066	$0	$43,325
Allison Holmes (Chief Fin & Risk Officer (Exit 8/21))	$838,124	$0	$53,358
Gary Baker (Managing Dir. (Exit 5/2021))	$724,790	$0	$22,017
Stephen M Horan Cfa (Managing Dir. (Exit 3/2021))	$598,144	$0	$18,128
Martin Colburn (Managing Director)	$568,673	$0	$41,149
Sheri Lynn Littlefield (Chief Legal Officer)	$553,279	$0	$55,834
Peg Jobst (Managing Dir. (Exit 4/2022))	$548,230	$0	$63,951
Chris Ainsworth (Managing Dir. (Exit 6/2022))	$532,005	$0	$58,364
Michael Collins (Managing Dir. (Exit 6/2022))	$516,268	$0	$64,120
Barbara Petitt (Managing Director)	$494,981	$0	$63,324
Paul Andrews (Managing Director)	$486,314	$0	$53,023
Tony Tan Exit 82021 (Head, Ethics, Standard Conduct)	$415,718	$0	$9,934
Leilani Hall (Senior Head, Codes And Standards)	$406,166	$0	$46,848
Sandy Peters (Senior Head, Fin. Rpt Policy)	$388,614	$0	$56,894
Mike Peterson (Chief Technology Officer)	$382,170	$0	$55,574
Nick Pollard (Managing Director)	$372,713	$0	$61,192
Chris Wiese (Senior Head, Learning Exp. & Assess. Dsgn.)	$370,599	$0	$62,312
Mary Leung (Head Advocacy (Exit 8/2022))	$366,494	$0	$63,128
Kurt N Schacht Cfa (Senior Head Adv)	$358,312	$0	$62,407
Lutfey Siddiqi (Managing Dir. (Exit 8/2021))	$288,546	$0	$67
Steven Hendry (Chief Financial Officer)	$278,131	$0	$44,577
Joseph P Lange (Corporate Secretary)	$199,106	$0	$47,082
Jeff Knighton Exit 82021 (Interim Cfo)	$189,716	$0	$33,886
Mark Lazberger Cfa (Bog Chair)	$0	$0	$0
Tricia Rothschild Cfa (Bog Vice Chair)	$0	$0	$0
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990

Filed on June 28, 2023

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Fiscal Year Ending Aug.
2021

Revenue

$299,621,233

Expenses

$299,566,682

Net Income

$54,551

Net Assets

$312,762,053

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$276,135,280	92.2%
Investment Income	$11,191,622	3.7%
Bond Proceeds	$0
Royalties	$607,839	0.2%
Rental Property Income	$77,270	0.0%
Net Fundraising	$0
Sales of Assets	$10,792,865	3.6%
Net Inventory Sales	$0
Other Revenue	$816,357	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$7,156,946	2.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$84,575,473	28.2%

Assets/Debt
Total Assets	$744,557,424
Total Liabilities	$431,795,371
Net Assets	$312,762,053

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Allison Holmes (Chief Fin & Risk Officer (Exit 8/21))	$580,154	$0	$62,079
Margaret Franklin Cfa (Pres & Ceo & Resrch Fdn Bd Mem)	$558,892	$0	$44,028
Emily Dunbar (Managing Dir. (Exit 6/30/20))	$530,378	$0	$25,606
Martin Colburn (Managing Director)	$429,558	$0	$40,451
Gary Baker (Managing Director (Exit 5/1/21))	$389,335	$0	$52,684
Stephen M Horan Cfa (Managing Director (Exit 3/1/21))	$382,409	$0	$62,551
Nick Pollard (Managing Director)	$373,530	$0	$102,458
Kurt N Schacht Cfa (Senior Head Advocacy)	$368,593	$0	$54,835
Sheri Lynn Littlefield (Chief Legal Officer)	$352,231	$0	$54,369
Chris Ainsworth (Managing Director)	$350,703	$0	$54,879
Tony Tan (Head, Ethics, Standard Conduct)	$350,574	$0	$9,714
Michael Collins (Managing Director)	$343,377	$0	$61,434
Leilani Hall (Managing Director)	$325,437	$0	$47,012
Peg Jobst (Managing Director)	$317,369	$0	$61,753
Mike Peterson (Chief Technology Officer)	$315,114	$0	$42,830
William Tohme (Senior Regional Head)	$311,053	$0	$0
Mary Leung (Head Advocacy)	$288,393	$0	$79,350
Jeff Knighton (Controller (Exit 8/21))	$216,311	$0	$49,982
Joseph P Lange (Corporate Secretary)	$154,886	$0	$40,331
Daniel Gamba Cfa (Bog Chair & Ec Chair)	$0	$0	$0
Maria Wilton Cfa (Bog Vice Chair & Pac Chair)	$0	$0	$0
Marshall Bailey Cfa (Member, Board Of Governors)	$0	$0	$0
Alexander Birkin (Member, Board Of Governors)	$0	$0	$0
Robert Bruner (Member, Board Of Governors)	$0	$0	$0
Daniel Fasciano Cfa (Member, Board Of Governors)	$0	$0	$0
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990

Filed on July 12, 2022

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Fiscal Year Ending Aug.
2020

Revenue

$184,976,793

Expenses

$304,140,097

Net Income

-$119,163,304

Net Assets

$262,026,428

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$164,819,596	89.1%
Investment Income	$12,895,849	7.0%
Bond Proceeds	$0
Royalties	$460,821	0.2%
Rental Property Income	$67,844	0.0%
Net Fundraising	$0
Sales of Assets	$5,885,770	3.2%
Net Inventory Sales	$0
Other Revenue	$846,913	0.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$7,170,880	2.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$78,150,939	25.7%

Assets/Debt
Total Assets	$709,843,889
Total Liabilities	$447,817,461
Net Assets	$262,026,428

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Paul Smith Cfa Thru 82019 (Former President & Ceo)	$1,734,363	$0	$172,356
Kurt N Schacht Cfa (Managing Director)	$624,831	$0	$55,683
Gary Baker (Managing Director)	$518,718	$0	$39,277
Nick Pollard (Managing Director)	$517,539	$0	$82,743
Marg Franklin Cfa Eff 92019 (Pres & Ceo & Resrch Fdn Bd Mem)	$510,115	$0	$12,026
Bjorn Forfang Exit 42019 (Managing Director)	$494,201	$0	$31,740
Stephen M Horan Cfa (Managing Director)	$490,897	$0	$56,082
Chris Ainsworth (Managing Director)	$480,938	$0	$49,524
Michael Collins (Managing Director)	$480,256	$0	$55,786
Sheri Lynn Littlefield (Chief Legal Officer)	$480,051	$0	$48,823
Leilani Hall (Managing Director)	$423,181	$0	$41,306
Tony Tan (Head, Ethics, Standard Conduct)	$420,049	$0	$12,636
Emily Dunbar Exit 62020 (Managing Director)	$409,555	$0	$50,141
Sandra Peters Cfa (Head, Fin. Report Pol. Group)	$408,006	$0	$50,191
Rob Langrick (Senior Head Cfa Program)	$362,124	$0	$34,733
Peg Jobst (Senior Head Exam Admin. Securi)	$346,003	$0	$55,601
Mary Leung (Head Advocacy)	$323,062	$0	$60,938
Jeff Knighton (Interim Cfo (7/2019 12/2019))	$269,485	$0	$53,049
Diane Basile Cfa (Former Cfo (Exit 7/2019))	$245,647	$0	$39,458
Joseph P Lange (Corporate Secretary)	$164,043	$0	$39,061
Allison Holmes Eff 122019 (Chief Financial Officer)	$22,066	$0	$195
Hua Yu Cfa (Member, Board Of Governors)	$4,578	$0	$0
Heather Brilliant Cfa (Member, Board Of Governors)	$0	$0	$0
Diane Nordin Cfa (Board & Exec. Committee Chair)	$0	$0	$0
Karina Litvack (Member, Board Of Governors)	$0	$0	$0
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990

Filed on July 12, 2021

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Fiscal Year Ending Aug.
2019

Revenue

$416,456,990

Expenses

$365,537,251

Net Income

$50,919,739

Net Assets

$364,037,441

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$386,449,309	92.8%
Investment Income	$14,010,019	3.4%
Bond Proceeds	$0
Royalties	$499,610	0.1%
Rental Property Income	$39,417	0.0%
Net Fundraising	$0
Sales of Assets	$14,633,033	3.5%
Net Inventory Sales	$0
Other Revenue	$825,602	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$8,246,409	2.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$69,585,703	19.0%

Assets/Debt
Total Assets	$630,127,929
Total Liabilities	$266,090,488
Net Assets	$364,037,441

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Paul Smith Cfa (Pres & Ceo & Resrch Fdn Bd Mem)	$1,342,620	$0	$204,306
Bjorn Forfang (Managing Dir. (Exit 4/2019))	$781,092	$0	$55,174
Kurt N Schacht Cfa (Managing Director)	$568,834	$0	$54,248
Nick Pollard (Managing Director)	$498,738	$0	$89,556
Nitin Mehta (Former Managing Director)	$487,180	$0	$0
Diane Basile Cfa (Chief Fin. Off. (Exit 7/2019))	$485,952	$0	$47,370
Gary Baker (Managing Director)	$468,121	$0	$45,322
Sheri Lynn Littlefield (Chief Legal Officer)	$444,475	$0	$48,437
Stephen M Horan Cfa (Managing Director)	$436,601	$0	$54,540
Chris Ainsworth (Managing Director)	$436,530	$0	$42,277
Michael Collins (Managing Director)	$427,595	$0	$54,671
Elaine Cheng (Managing Dir. (Exit 3/2019))	$426,470	$0	$54,107
Tony Tan (Head, Ethics, Standard Conduct)	$415,441	$0	$12,954
Emily Dunbar (Managing Director)	$411,121	$0	$57,627
Sandra Peters Cfa (Head, Fin. Report Pol. Group)	$400,219	$0	$48,861
Ji Al I Jun (Senior Country Head, China)	$384,165	$0	$36,253
Rahul Keshap (Head, Claritas Exit 12/2018)	$384,010	$0	$40,571
Rob Gowen (Head, Prod. Sol. Exit 11/2018)	$372,410	$0	$40,971
Darin Goodwiler (Managing Dir. (Exit 10/2018))	$330,062	$0	$40,701
Jeff Knighton (Interim Cfo (Eff. 7/2019))	$234,938	$0	$48,571
John Bowman (Managing Dir. (Exit 1/2018))	$205,791	$0	$4,007
Joseph P Lange (Corporate Secretary)	$164,308	$0	$37,768
Robert Jenkins Fsip (Board Past Chair)	$5,023	$0	$0
Heather Brilliant Cfa (Board & Exec. Committee Chair)	$0	$0	$0
Diane Nordin Cfa (Board Vice Chair)	$0	$0	$0
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990

Filed on July 9, 2020

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Fiscal Year Ending Aug.
2018

Revenue

$370,089,211

Expenses

$338,068,864

Net Income

$32,020,347

Net Assets

$322,856,901

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$318,704	0.1%
Program Services	$354,274,605	95.7%
Investment Income	$12,274,993	3.3%
Bond Proceeds	$0
Royalties	$497,399	0.1%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,856,738	0.5%
Net Inventory Sales	$0
Other Revenue	$866,772	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$8,803,605	2.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$72,681,959	21.5%

Assets/Debt
Total Assets	$579,306,522
Total Liabilities	$256,449,621
Net Assets	$322,856,901

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Paul Smith Cfa (Pres & Ceo & Resrch Fdn Bd Mem)	$1,032,696	$0	$156,785
Timothy G Mclaughlin Cfa (Cfo/Senior Adv Exit 8/2016)	$780,000	$0	$0
Bjorn Forfang (Managing Director)	$758,132	$0	$54,733
Kurt N Schacht Cfa (Managing Director)	$548,333	$0	$54,018
Diane Basile Cfa (Chief Financial Officer)	$490,612	$0	$30,567
Nick Pollard (Managing Director)	$466,750	$0	$56,078
Stephen M Horan Cfa (Managing Director)	$444,146	$0	$53,815
Elaine Cheng (Managing Director)	$438,806	$0	$53,477
Gary Baker (Managing Director)	$433,709	$0	$24,859
Sheri Lynn Littlefield (Chief Legal Officer)	$415,759	$0	$47,217
Michael Collins (Managing Director)	$411,502	$0	$54,150
Peter Mackey (Head, Credential. Exit 12/2017)	$406,588	$0	$47,181
John Bowman Cfa (Managing Director(exit 1/2018))	$402,511	$0	$53,930
Nitin Mehta Cfa (Managing Dir. (Exit 12/2017))	$380,910	$0	$50,122
Tony Tan (Head, Standards & Fin. Market)	$373,406	$0	$12,161
Donna Marshall (Managing Director Exit 12/2016)	$364,293	$0	$31,800
Sandra Peters Cfa (Head, Fin. Report Pol. Group)	$357,227	$0	$47,506
Robert Lamy (Head, Pr. Analysis (Exit 6/17))	$336,474	$0	$24,276
Leilani Sanders Hall (Head, Professional Conduct)	$329,681	$0	$39,816
Chris Ainsworth (Managing Director)	$314,597	$0	$23,096
Darin Goodwiler (Managing Director)	$298,236	$0	$53,106
Emily Dunbar (Managing Director)	$232,392	$0	$31,037
Joseph P Lange (Corporate Secretary)	$165,471	$0	$38,015
Mark J Lazberger Cfa (Member, Board Of Governors)	$9,501	$0	$0
Robert Jenkins Fsip (Board & Exec. Committee Chair)	$8,364	$0	$0
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990

Filed on July 12, 2019

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Fiscal Year Ending Aug.
2017

Revenue

$321,638,470

Expenses

$303,230,743

Net Income

$18,407,727

Net Assets

$282,237,386

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$310,654,368	96.6%
Investment Income	$10,465,625	3.3%
Bond Proceeds	$0
Royalties	$521,651	0.2%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$1,129,221
Net Inventory Sales	$0
Other Revenue	$1,126,047	0.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$7,926,383	2.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$69,681,722	23.0%

Assets/Debt
Total Assets	$527,428,614
Total Liabilities	$245,191,228
Net Assets	$282,237,386

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Paul Smith Cfa (Pres & Ceo & Resrch Fdn Bd Mem)	$1,334,451	$0	$183,480
Timothy G Mclaughlin Cfa (Cfo/Senior Adv Exit 8/2016)	$675,636	$0	$25,610
Kurt N Schacht Cfa (Managing Director)	$634,517	$0	$56,480
Stephen M Horan Cfa (Managing Director)	$549,389	$0	$54,558
Elaine Cheng (Managing Director)	$529,215	$0	$54,355
Sandra Peters Cfa (Interim Cfo Through 1/16/17)	$523,760	$0	$48,875
Nitin Mehta Cfa (Managing Director)	$523,730	$0	$86,739
John Bowman Cfa (Managing Director)	$508,805	$0	$54,539
Sheri Lynn Littlefield (Chief Legal Officer)	$446,724	$0	$54,464
Peter B Mackey Cfa (Head, Credentialing Spec. Proj)	$425,819	$0	$48,662
Michael Collins (Managing Director)	$417,898	$0	$46,783
Donna Marshall (Managing Director Exit 12/2016)	$360,085	$0	$49,740
Tony Tan (Head, Standards & Fin. Market)	$354,429	$0	$32,182
Bjorn Forfang (Managing Director)	$351,670	$0	$19,225
Robert Lamy (Head, Practice Analysis)	$341,960	$0	$42,816
Darin Goodwiler (Managing Director)	$322,853	$0	$53,792
Leilani Sanders Hall (Head, Professional Conduct)	$309,356	$0	$40,957
Nick Pollard (Managing Director)	$287,305	$0	$29,304
Joseph P Lange (Corporate Secretary)	$149,321	$0	$36,942
Colin W Mclean Fsip (Board Vice Chair)	$0	$0	$0
Zouheir Tamim El Jarkass Cfa (Member, Board Of Governors)	$0	$0	$0
Elizabeth Corley Fsip (Member, Board Of Governors)	$0	$0	$0
Attila Koksal Cfa (Member, Board Of Governors)	$0	$0	$0
Beth Hamilton Keen Cfa (Board Past Chair)	$0	$0	$0
Frederic P Lebel Cfa (Board & Exec. Committee Chair)	$0	$0	$0
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990

Filed on April 13, 2018

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Fiscal Year Ending Aug.
2016

Revenue

$284,644,684

Expenses

$270,775,370

Net Income

$13,869,314

Net Assets

$241,806,970

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$281,529,553	98.9%
Investment Income	$5,687,206	2.0%
Bond Proceeds	$0
Royalties	$285,794	0.1%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$3,803,578
Net Inventory Sales	$0
Other Revenue	$945,709	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$7,511,764	2.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$65,537,319	24.2%

Assets/Debt
Total Assets	$453,410,522
Total Liabilities	$211,603,552
Net Assets	$241,806,970

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
Jan Squires (Managing Dir. Exited 8/2015)	$1,133,642	$0	$22,237
Paul Smith Cfa (Pres & Ceo & Resrch Fdn Bd Mem)	$1,049,047	$0	$155,093
Raymond J Deangelo (Senior Advisor Exited 1/2016)	$610,821	$0	$71,694
Kurt N Schacht Cfa (Managing Director)	$574,478	$0	$79,059
Donna Marshall (Managing Director)	$563,408	$0	$68,866
Timothy G Mclaughlin Cfa (Cfo/Senior Adv Exited 8/2016)	$561,436	$0	$70,739
Nitin Mehta Cfa (Managing Director)	$479,212	$0	$98,766
Stephen M Horan Cfa (Managing Director)	$458,559	$0	$72,967
John Bowman Cfa (Managing Director)	$455,206	$0	$70,943
Elaine Cheng (Managing Director)	$448,113	$0	$71,243
Peter B Mackey Cfa (Head Cfa Examinations)	$431,469	$0	$47,345
Sandra Peters Cfa (Interim Cfo Effective 3/2016)	$382,214	$0	$47,637
Robert Lamy Cfa (Head, Curriculum Development)	$359,742	$0	$41,719
Kathy Pilgrim (Director, Exam Development)	$320,578	$0	$46,809
Ashvin P Vibhakarcfa (Senior Adv Exited 8/31/2015)	$286,292	$0	$22,056
Sheri Lynn Littlefield Moreno (General Counsel)	$213,428	$0	$12,834
Joseph P Lange (Corporate Secretary)	$141,491	$0	$34,606
Dwight Churchill Cfa (President & Ceo Exited 1/2015)	$131,818	$0	$1,592
George Spentzoscfa Fsip (Member, Board Of Governors)	$5,900	$0	$0
Colin W Mclean Fsip (Audit & Risk Committee Chair)	$0	$0	$0
Zouheir Tamim El Jarkass Cfa (Member, Board Of Governors)	$0	$0	$0
Aaron Low Cfa (Immediate Past Chair)	$0	$0	$0
Attila Koksal Cfa (Member, Board Of Governors)	$0	$0	$0
Beth Hamilton Keen Cfa (Chair)	$0	$0	$0
Frederic P Lebel Cfa (Vice Chair)	$0	$0	$0
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990

Filed on April 14, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Aug.
2015

Revenue

$272,494,659

Expenses

$238,913,246

Net Income

$33,581,413

Net Assets

$208,544,634

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$258,794,215	95.0%
Investment Income	$5,706,087	2.1%
Bond Proceeds	$0
Royalties	$301,151	0.1%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$6,848,817	2.5%
Net Inventory Sales	$0
Other Revenue	$844,389	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$7,223,389	3.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$60,878,726	25.5%

Assets/Debt
Total Assets	$389,688,371
Total Liabilities	$181,143,737
Net Assets	$208,544,634

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John Bowman Cfa (Managing Director)	$899,381	$0	$68,907
Thomas Robinson Cfa (Managing Dir. Exited 1/2015)	$615,491	$0	$46,603
Raymond J Deangelo (Senior Advisor)	$610,181	$0	$70,728
Jan R Squires Cfa (Managing Dir. Exited 8/31/2015)	$607,231	$0	$71,327
Paul Smith Cfa (President & Ceo Eff 01/2015)	$574,037	$0	$55,477
Kurt N Schacht Cfa (Managing Director)	$573,160	$0	$75,556
Timothy G Mclaughlin Cfa (Chief Financial Officer)	$561,150	$0	$68,678
John Rogers Cfa (President & Ceo Exit 5/31/14)	$560,346	$0	$21,943
Donna Marshall (Managing Director)	$525,669	$0	$66,815
Nitin Mehta Cfa (Managing Director)	$490,407	$0	$28,644
Elaine Cheng (Managing Director)	$442,011	$0	$69,042
Stephen M Horan Cfa (Managing Director)	$435,721	$0	$70,744
Ashvin P Vibhakar Cfa (Senior Adv Exited 8/31/2015)	$421,686	$0	$44,753
Peter B Mackey Cfa (Head Cfa Examinations)	$405,037	$0	$45,357
Sandra Peters Cfa (Head Fin. Reporting Policy)	$388,338	$0	$45,782
Dwight D Churchill Cfa (President & Ceo Exited 1/2015)	$350,000	$0	$0
Robert Lamy Cfa (Head, Curriculum Development)	$341,189	$0	$50,570
Carol J Anderson (General Counsel Exited 8/31/14)	$336,846	$0	$24,716
Joseph P Lange (Corporate Secretary)	$139,631	$0	$33,282
Colin W Mclean Fsip (Audit & Risk Committee Chair)	$0	$0	$0
Charles J Yang Cfa (Immediate Past Chair)	$0	$0	$0
Aaron Low Cfa (Chair)	$0	$0	$0
Attila Koksal Cfa (Ext & Rel Inv Commit Chair)	$0	$0	$0
Beth Hamilton Keen Cfa (Vice Chair)	$0	$0	$0
Frederic P Lebel Cfa (Member, Board Of Governors)	$0	$0	$0
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990

Filed on April 15, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Aug.
2014

Revenue

$259,514,989

Expenses

$233,256,561

Net Income

$26,258,428

Net Assets

$203,722,113

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$239,880,621	92.4%
Investment Income	$6,304,434	2.4%
Bond Proceeds	$0
Royalties	$327,478	0.1%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$8,567,996	3.3%
Net Inventory Sales	$0
Other Revenue	$4,434,460	1.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$8,368,974	3.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$56,671,472	24.3%

Assets/Debt
Total Assets	$368,018,548
Total Liabilities	$164,296,435
Net Assets	$203,722,113

Provided first-class or charter travel

Compensation

Key Employees and Officers	Compensation	Related	Other
John Rogers Cfa (President & Ceo Exited 5/31/14)	$1,380,137	$0	$89,459
John Bowman (Managing Director)	$1,288,225	$0	$66,682
Jan R Squires Cfa (Managing Director)	$627,563	$0	$69,621
Thomas Robinson Cfa (Managing Director)	$625,879	$0	$69,562
Raymond J Deangelo (Managing Director)	$606,989	$0	$69,021
Ashvin P Vibhakar Cfa (Senior Advisor)	$561,674	$0	$61,793
Kurt N Schacht Cfa (Managing Director)	$561,470	$0	$73,703
Timothy G Mclaughlin Cfa (Chief Financial Officer)	$554,741	$0	$66,970
Paul Smith (Managing Director)	$524,544	$0	$46,497
Carol J Anderson (General Counsel Exited 8/31/14)	$500,859	$0	$68,795
Donna Marshall (Managing Director)	$476,140	$0	$63,315
Nitin Mehta Cfa (Managing Director)	$463,738	$0	$28,551
Sandra Peters (Head Professional Education)	$407,623	$0	$43,821
Peter B Mackey Cfa (Head Cfa Examinations)	$405,353	$0	$43,821
Elaine Cheng (Managing Director)	$403,475	$0	$64,978
Stephen M Horan Cfa (Managing Director)	$393,082	$0	$58,514
Robert Lamy (Head, Curriculum Development)	$331,682	$0	$48,673
Dennis Mcleavey (Head, Regulator(exited 2/2014))	$303,940	$0	$43,506
Joseph P Lange (Director, Board & Corp Svs.)	$107,886	$0	$29,965
Alan M Meder Cfa Cpa (Immediate Past Chair)	$2,067	$0	$0
Colin W Mclean (Ext Rel & Vol Inv Commit Chair)	$0	$0	$0
Charles J Yang Cfa (Chairman Of The Board)	$0	$0	$0
Aaron Low Cfa (Vice Chairman Of The Board)	$0	$0	$0
Attila Koksal Cfa (Member, Board Of Governors)	$0	$0	$0
Beth Hamilton Keen Cfa (Member, Board Of Governors)	$0	$0	$0
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990

Filed on July 14, 2015

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Aug.
2013

Revenue

$239,834,581

Expenses

$223,411,699

Net Income

$16,422,882

Net Assets

$161,470,576

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$223,787,969	93.3%
Investment Income	$7,492,485	3.1%
Bond Proceeds	$0
Royalties	$393,772	0.2%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$7,591,462	3.2%
Net Inventory Sales	$0
Other Revenue	$568,893	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$7,976,944	3.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$54,974,979	24.6%

Assets/Debt
Total Assets	$320,339,200
Total Liabilities	$158,868,624
Net Assets	$161,470,576

990

Filed on July 28, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Aug.
2012

Revenue

$231,242,116

Expenses

$227,844,778

Net Income

$3,397,338

Net Assets

$148,685,032

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$219,127,815	94.8%
Investment Income	$6,551,479	2.8%
Bond Proceeds	$0
Royalties	$235,244	0.1%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$4,656,605	2.0%
Net Inventory Sales	$0
Other Revenue	$670,973	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$8,511,997	3.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$49,525,424	21.7%

Assets/Debt
Total Assets	$302,753,185
Total Liabilities	$154,068,153
Net Assets	$148,685,032

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Aug.
2011

Revenue

$220,210,482

Expenses

$210,344,728

Net Income

$9,865,754

Net Assets

$141,930,754

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$210,559,230	95.6%
Investment Income	$6,184,566	2.8%
Bond Proceeds	$0
Royalties	$246,517	0.1%
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$2,647,798	1.2%
Net Inventory Sales	$0
Other Revenue	$572,371	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$9,382,515	4.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$40,689,665	19.3%

Assets/Debt
Total Assets	$291,556,743
Total Liabilities	$149,625,989
Net Assets	$141,930,754

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

Raw filing data. Includes EINs and summary financials as structured data.
Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

API

The data powering this website is available programmatically, via an API. Read the API documentation »

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

Updated January 31, 2025

Cfa Institute

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $360M (2023)

Expenses $272M (2023)

Total Assets $775M (2023)

Total Liabilities $377M (2023)

Tax Filings by Year

Fiscal Year Ending Aug. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Aug. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Aug. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Aug. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Aug. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Aug. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Aug. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Aug. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Aug. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Aug. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Revenue

$360M (2023)

Expenses

$272M (2023)

Total Assets

$775M (2023)

Total Liabilities

$377M (2023)

Fiscal Year Ending Aug.
2023

Fiscal Year Ending Aug.
2022

Fiscal Year Ending Aug.
2021

Fiscal Year Ending Aug.
2020

Fiscal Year Ending Aug.
2019

Fiscal Year Ending Aug.
2018

Fiscal Year Ending Aug.
2017

Fiscal Year Ending Aug.
2016

Fiscal Year Ending Aug.
2015

Fiscal Year Ending Aug.
2014

Fiscal Year Ending Aug.
2013

Fiscal Year Ending Aug.
2012

Fiscal Year Ending Aug.
2011

Fiscal Year Ending Aug.
2010

Fiscal Year Ending Aug.
2009

Fiscal Year Ending Aug.
2008

Fiscal Year Ending Aug.
2007

Fiscal Year Ending Aug.
2006

Fiscal Year Ending Aug.
2005

Fiscal Year Ending Aug.
2004