Nonprofit · EIN 54-1386480
CFA INSTITUTE
Tax-exempt · CHARLOTTESVLE, VA 22902
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| August 31, 2025 | 990 | $534,038,687 | $321,585,530 | $212,453,157 | $1,038,237,122 | $310,731,541 | $727,505,581 |
| August 31, 2024 | 990 | $462,891,998 | $298,355,244 | $164,536,754 | $912,886,795 | $347,786,928 | $565,099,867 |
| August 31, 2023 | 990 | $360,345,275 | $271,991,297 | $88,353,978 | $774,533,858 | $376,977,607 | $397,556,251 |
Financial details: 990 for the year ended August 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $410,301,685
- Investment income
- $122,523,258
- Royalties
- $568,573
- Net rental income
- $5,457
- Net gain from sales of assets
- $102,731,910
- Other revenue
- $1,213,744
Expenses
- Grants and similar amounts paid
- $14,389,805
- Compensation of officers, directors and key employees
- $5,795,802
- Other salaries and wages
- $82,430,790
- Salaries, compensation and benefits (total)
- $113,730,823
- Professional fundraising fees
- $0
- Legal fees
- $3,877,968
- Accounting fees
- $2,419,121
- Occupancy
- $5,911,886
- Travel
- $9,588,624
- Depreciation
- $11,750,049
Balance sheet and other
- Total assets, start of year
- $912,886,795
- Total assets, end of year
- $1,038,237,122
- Total liabilities, end of year
- $310,731,541
- Net assets, end of year
- $727,505,581
- Land, buildings and equipment
- $12,494,734
- Publicly traded securities
- $627,981,918
- Net assets without donor restrictions
- $727,505,581
- Gross unrelated business income
- $488,817
- Gross receipts
- $552,359,900
- Employees
- 457
- Volunteers
- 4,160
- Year formed
- 1986
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended August 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARGARET FRANKLIN | PRES & CEO & RESRCH FDN BD MEM Trustee or director, Officer | 40 | $1,444,710 | $44,589 |
| MARTIN COLBURN END 92025 | MANAGING DIRECTOR Key employee | 40 | $678,575 | $51,782 |
| STEVEN HENDRY | CHIEF FINANCIAL OFFICER Officer | 40 | $632,182 | $71,394 |
| PAUL MOODY | MANAGING DIRECTOR Key employee | 40 | $620,918 | $40,611 |
| CHRIS WIESE | MANAGING DIRECTOR Key employee | 40 | $589,933 | $71,100 |
| SHERI KELLY | MANAGING DIRECTOR Key employee | 40 | $563,528 | $61,080 |
| ANDREW ROME | MANAGING DIRECTOR Key employee | 40 | $522,874 | $61,391 |
| ANNE O'BRIEN | CHIEF OF STAFF Highest-paid employee | 40 | $436,935 | $60,781 |
| SANDY PETERS | SENIOR HEAD, FIN. RPT POLICY Highest-paid employee | 40 | $432,881 | $62,406 |
| VITO LORE | SENIOR HEAD, STRATEGY & PLANNING Highest-paid employee | 40 | $403,258 | $68,147 |
| DOUG COHEN | SENIOR HEAD PRODUCT MANAGEMENT Highest-paid employee | 40 | $400,656 | $67,970 |
| PAUL ANDREWS END 12025 | MANAGING DIRECTOR Key employee | 40 | $397,691 | $61,380 |
| TOM BERRY | CHIEF MARKETING OFFICER Highest-paid employee | 40 | $406,862 | $51,953 |
| LEILANI HALL END 52024 | SENIOR HEAD, CODES AND STAND Former | 40 | $318,276 | $19,584 |
| JOE LANGE | CORPORATE SECRETARY Officer | 40 | $242,549 | $56,762 |
14 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KURT SCHACHT END 122022 | SENIOR HEAD ADV Former | 0 | $150,000 |
| MARIA WILTON | BOARD MEMBER Trustee or director | 1 | $14,459 |
| HEINZ HOCKMANN | BOG VICE CHAIR Trustee or director, Officer | 1 | $0 |
| MARSHALL BAILEY | BOG CHAIR Trustee or director, Officer | 1 | $0 |
| JENNIFER GARBOWICZ | BOARD MEMBER Trustee or director | 1 | $0 |
| JOANNE HILL | BOARD MEMBER Trustee or director | 1 | $0 |
| LINDSEY MATTHEWS | BOARD MEMBER Trustee or director | 1 | $0 |
| MEI GAO | BOARD MEMBER Trustee or director | 1 | $0 |
| OYEBANJI FEHINTOLA | BOARD MEMBER Trustee or director | 1 | $0 |
| PAMELA YANG | BOARD MEMBER Trustee or director | 1 | $0 |
| PATRICIA ROTHSCHILD | BOARD MEMBER Trustee or director | 1 | $0 |
| RAVI GAUTHAM | BOARD MEMBER Trustee or director | 1 | $0 |
| VIPIN MAYAR | BOARD MEMBER Trustee or director | 1 | $0 |
| YIMEI LI | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended August 31, 2024: 30 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARGARET FRANKLIN CFA | PRES & CEO & RESRCH FDN BD MEM Trustee or director, Officer | 40 | $1,413,115 | $42,890 |
| NICK POLLARD END 92023 | MANAGING DIRECTOR Former | 40 | $683,963 | $54,664 |
| MARTIN COLBURN | MANAGING DIRECTOR Key employee | 40 | $602,690 | $48,846 |
| STEVEN HENDRY | CHIEF FINANCIAL OFFICER Officer | 40 | $583,742 | $66,674 |
| SHERI KELLY | MANAGING DIRECTOR Key employee | 40 | $576,830 | $57,632 |
| PAUL ANDREWS | MANAGING DIRECTOR Key employee | 40 | $547,094 | $57,696 |
| CHRIS WIESE | MANAGING DIRECTOR Key employee | 40 | $537,939 | $66,472 |
| KURT SCHACHT CFA END 122022 | SENIOR HEAD ADV Former | 40 | $557,825 | $17,116 |
| PAUL MOODY | MANAGING DIRECTOR Key employee | 40 | $560,819 | $3,367 |
| CAROLE CRAWFORD END 72023 | MANAGING DIRECTOR Highest-paid employee | 40 | $516,628 | $44,829 |
| ANDREW ROME | MANAGING DIRECTOR Key employee | 40 | $480,693 | $57,973 |
| MIKE PETERSON | CHIEF TECHNOLOGY OFFICER Highest-paid employee | 40 | $412,301 | $58,883 |
| SANDY PETERS | SENIOR HEAD, FIN. RPT POLICY Highest-paid employee | 40 | $402,569 | $58,793 |
| VITO LORE | SENIOR HEAD, STRATEGY & PLAN. Highest-paid employee | 40 | $393,343 | $63,719 |
| LEILANI HALL END 52024 | SENIOR HEAD, CODES AND STAND. Former | 40 | $406,635 | $47,418 |
| ANNE O'BRIEN | CHIEF OF STAFF Highest-paid employee | 40 | $379,857 | $57,226 |
| JOE LANGE | CORPORATE SECRETARY Officer | 40 | $226,811 | $52,251 |
| PUNITA KUMAR-SINHA CFA | BOARD MEMBER Trustee or director | 1 | $8,295 | $0 |
| GEOFFREY NG CFA | BOARD MEMBER Trustee or director | 1 | $7,561 | $0 |
| MARK LAZBERGER CFA | BOG CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| HEINZ HOCKMANN PHD | BOG VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| TRICIA ROTHSCHILD CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARIA WILTON CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARSHALL BAILEY CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ALEXANDER BIRKIN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PAMELA YANG CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| OYEBANJI FEHINTOLA CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MEI GAO CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOANNE HILL PHD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| YIMEI LI CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended August 31, 2023: 34 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARGARET FRANKLIN CFA | PRES & CEO & RESRCH FDN BD MEM Trustee or director, Officer | 40 | $1,258,421 | $47,171 |
| MARTIN COLBURN | MANAGING DIRECTOR Key employee | 40 | $577,156 | $49,571 |
| SHERI KELLY | MANAGING DIRECTOR Key employee | 40 | $560,152 | $57,592 |
| PAUL ANDREWS | MANAGING DIRECTOR Key employee | 40 | $548,046 | $58,569 |
| MICHAEL COLLINS EXIT 62022 | MANAGING DIRECTOR Key employee | 40 | $547,515 | $51,073 |
| STEVEN HENDRY | CHIEF FINANCIAL OFFICER Officer | 40 | $531,455 | $65,644 |
| NICK POLLARD | MANAGING DIRECTOR Former | 40 | $517,817 | $75,557 |
| BARBARA PETITT EXIT 22023 | MANAGING DIRECTOR Key employee | 40 | $516,900 | $64,672 |
| CHRIS WIESE | MANAGING DIRECTOR Key employee | 40 | $466,561 | $64,384 |
| CAROLE CRAWFORD EXIT 72023 | MANAGING DIRECTOR Highest-paid employee | 40 | $464,771 | $49,096 |
| HEIDI DIEDRICH EXIT 82022 | SENIOR HEAD, GLOBAL B2C Highest-paid employee | 40 | $453,287 | $47,660 |
| SANDY PETERS | SENIOR HEAD, FIN. RPT POLICY Highest-paid employee | 40 | $415,504 | $58,373 |
| LEILANI HALL | SENIOR HEAD, CODES AND STAND. Former | 40 | $419,734 | $48,504 |
| PAUL MOODY | MANAGING DIRECTOR Key employee | 40 | $461,295 | $5,391 |
| MIKE PETERSON | CHIEF TECHOLOGY OFFICER Highest-paid employee | 40 | $407,416 | $57,325 |
| VITO LORE | SENIOR HEAD, STRATEGY & PLAN. Highest-paid employee | 40 | $391,203 | $64,169 |
| ANDREW ROME | MANAGING DIRECTOR Key employee | 40 | $342,592 | $56,490 |
| KURT SCHACHT CFA EXIT 122022 | SENIOR HEAD ADV Former | 40 | $303,410 | $60,955 |
| CHRIS AINSWORTH EXIT 62022 | MANAGING DIRECTOR Key employee | 40 | $245,320 | $40,124 |
| JOE LANGE | CORPORATE SECRETARY Officer | 40 | $210,077 | $48,294 |
| PEG JOBST EXIT 42022 | MANAGING DIRECTOR Key employee | 40 | $190,425 | $28,257 |
| MARK LAZBERGER CFA | BOG CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| TRICIA ROTHSCHILD CFA | BOG VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| GEOFFREY NG CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MARIA WILTON CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| DANIEL FASCIANO CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| HEINZ HOCKMANN PHD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| BAILEY MARSHALL CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| OYEBANJI FEHINTOLA CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| PUNITA KUMAR-SINHA CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ALEXANDER BIRKIN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| MEI GAO CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOANNE HILL PHD | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| YIMEI LI CFA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 915 E HIGH ST, CHARLOTTESVLE, VA 22902-4868
- In care of
- % ALLISON HOLMES
- Principal officer (990 for 2024)
- PATRICIA ROTHSCHILD, 915 EAST HIGH STREET, CHARLOTTESVILLE, VA 22902
- Signed the 990
- PATRICIA ROTHSCHILD, INTERIM PRESIDENT & CEO
- Phone
- (434) 951-5499
- Website
- WWW.CFAINSTITUTE.ORG
- Return prepared by
- KPMG LLP
Mission
SEE STATEMENT O
Program accomplishments
- 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 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.
- 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.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in August, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | August 31, 2026 | January 15, 2027 | Not due yet |
| 2024 | August 31, 2025 | January 15, 2026 | 990 on file |
| 2023 | August 31, 2024 | January 15, 2025 | 990 on file |
IRS record
- EIN
- 54-1386480
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1986
- Accounting year ends
- August
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,038,237,122
- Income (IRS master file)
- $552,359,900
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | August 2025 | $534,038,687 | $321,585,530 | $1,038,237,122 | XML |
| 990 | August 2024 | $462,891,998 | $298,355,244 | $912,886,795 | XML |
| 990 | August 2023 | $360,345,275 | $271,991,297 | $774,533,858 | XML |
| 990 | August 2022 | $346,815,960 | $278,732,579 | $663,377,785 | IRS |
| 990 | August 2021 | – | – | – | IRS |
| 990 | August 2020 | – | – | – | IRS |
| 990 | August 2019 | – | – | – | IRS |
| 990 | August 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about CFA INSTITUTE
- What is the EIN of CFA INSTITUTE?
- The employer identification number (EIN) of CFA INSTITUTE is 54-1386480.
- Is CFA INSTITUTE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1986.
- Are donations to CFA INSTITUTE tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CFA INSTITUTE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CFA INSTITUTE due?
- The return for tax year 2025 (the year ending August 31, 2026) is due January 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CFA INSTITUTE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended August 2025.
- Who is the principal officer of CFA INSTITUTE?
- The 990 for the year ended August 31, 2025 names PATRICIA ROTHSCHILD.
- Who are the officers and directors of CFA INSTITUTE?
- The 990 for the year ended August 31, 2025 lists 29 people; 17 received compensation from the organization, the highest $1,444,710 (MARGARET FRANKLIN, PRES & CEO & RESRCH FDN BD MEM).
- How much revenue does CFA INSTITUTE have?
- On its 990 for the year ended August 31, 2025 it reported revenue of $534,038,687, expenses of $321,585,530 and total assets of $1,038,237,122 at year end.
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