CFA Institute

Nonprofit profile at a glance

EIN
541386480
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Charlottesville, VA, USA
Phone
4349515499
Rating confidence
Limited

Official website

Reported finances

Revenue
$534,038,687
Expenses
$321,585,530
Assets
$1,038,237,122
Liabilities
$310,731,541

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

29 people listed

Executive titles in this filing

  • MARGARET FRANKLIN (PRES & CEO & RESRCH FDN BD MEM)

Highest reported compensation

  • MARGARET FRANKLIN (PRES & CEO & RESRCH FDN BD MEM): $1,489,299 total reported compensation
  • MARTIN COLBURN END 92025 (MANAGING DIRECTOR): $730,357 total reported compensation
  • STEVEN HENDRY (CHIEF FINANCIAL OFFICER): $703,576 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See statement o

What it reported doing in 2024

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 sustainable investing certificate; climate risk, valuation and investing certificate, private markets and alternative investments certificates, data science for investment professions certificate, the certificate in investment performance management, private equity certificate and investment foundations certificate.

Operating model

Revenue model
Other-operating. 95% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 80
  • Accountability: 96
  • Sustainability: 79
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Pass
    • May require repayment: Fail
  • Grant itemization coverage: 98.2%; rating input score 98; 34th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 92.9%; rating input score 93; 42nd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 39.8%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 3.23; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.1% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 8.6% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 13 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $1.5M · 29 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $62.4M reported
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes foreign activity, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 86 filed money-flow records
  • Related organizations: 77 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.