The Cfa Society of Detroit Inc

Nonprofit profile at a glance

EIN
386087152
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Saline, MI, USA
Phone
7345462390
Rating confidence
Limited

Official website

Reported finances

Revenue
$257,783
Expenses
$239,099
Assets
$292,042
Liabilities
$0

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

Leadership & pay

11 people listed

Executive titles in this filing

  • LAUREN ADAMS (PRESIDENT)
  • CHARLES RAGAUSS (VICE PRESIDENT)
  • MICHELLE DORAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MICHELLE DORAN (EXECUTIVE DIRECTOR): $43,931 total reported compensation

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

Overview

Mission

We are an association of local investment professionals consisting of portfolio managers, security analysts, investment advisors, and other financial professionals. We promote ethical and professional standards within the investment industry, encourage professional development through the cfa program and continuing education, facilitate the exchange of information and opinions among people within the local investment community and beyond, and work to further the public's understanding of the cfa designation and investment industry. As one of the cfa institute member societies, our society connects members to a global network of investment professionals.

What it reported doing in 2024

Annual meeting and golf outing - annual luncheon meeting to provide society update to membership and elect new board members with a guest speaker followed by networking golf outing.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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: 92
  • Accountability: 90
  • Sustainability: 51
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.2%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.22; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 18.4%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.7% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 6.5% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 10 of 10 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $44K · 11 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

Key Signals

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

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 55/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.