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← CFA SOCIETY OF MINNESOTA

Form 990 for tax year 2022

Filed by CFA SOCIETY OF MINNESOTA.

Totals

Total revenue
$462,913
Total expenses
$464,215
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$457,741
Investment income
$3,922
Other revenue
$1,250
Total assets, end of year
$626,469
Total liabilities, end of year
$205,871
Net assets or fund balances, end of year
$420,598
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Membership Dues

    total $171,448 · related or exempt $171,448

  • 2b · Program service revenue: Registration and Event

    total $137,599 · related or exempt $137,599

  • 2c · Program service revenue: CFA Institute Support

    total $100,056 · related or exempt $100,056

  • 2d · Program service revenue: Sponsorships

    total $48,638 · related or exempt $48,638

  • 3 · Investment income

    total $3,922 · excluded $3,922

  • 11a · Other revenue: Miscellaneous Income

    total $1,250 · excluded $1,250

  • 11e · Other revenue, total

    $1,250

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $136,416

  • 7 · Other salaries and wages

    total $78,050

  • 8 · Pension plan contributions

    total $1,633

  • 10 · Payroll taxes

    total $16,678

  • 11b · Fees: legal

    total $81

  • 11c · Fees: accounting

    total $14,868

  • 11g · Fees: other

    total $5,885

  • 12 · Advertising and promotion

    total $268

  • 13 · Office expenses

    total $12,109

  • 14 · Information technology

    total $28,418

  • 16 · Occupancy

    total $40,906

  • 17 · Travel

    total $6,872

  • 19 · Conferences, conventions and meetings

    total $5,274

  • 23 · Insurance

    total $1,477

  • 24a · Other expenses: Annual Dinner Expense

    total $61,006

  • 24b · Other expenses: Other Events

    total $23,440

  • 24c · Other expenses: Luncheons Expense

    total $8,826

  • 24d · Other expenses: Miscellaneous

    total $8,222

  • 24e · All other expenses

    total $13,786

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,445 · end of year $14,586

  • 2 · Savings and temporary cash investments

    beginning of year $570,234 · end of year $570,942

  • 4 · Accounts receivable

    beginning of year $51,532 · end of year $16,158

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,506 · end of year $18,683

  • 15 · Other assets

    beginning of year $6,100 · end of year $6,100

  • 17 · Accounts payable and accrued expenses

    beginning of year $67,962 · end of year $44,732

  • 19 · Deferred revenue

    beginning of year $156,955 · end of year $161,139

  • 27 · Net assets without donor restrictions

    beginning of year $421,900 · end of year $420,598

Mission and programs · 2022

Mission

OUR MISSION: To advance professional excellence while promoting ethical behavior and fellowship through development and engagement opportunities for our members.

Activities or mission (Part I)

To advance professional excellence while promoting ethical behavior and fellowship through development and engagement opportunities for our members.

  • ANNUAL DINNER - The CFAMN Annual Dinner is our largest public awareness event, designed to raise the level of awareness of our members in the broader community as well as bring together as large a group of members as possible to continue working toward development of "community." A veritable "Who's Who" of the local investment community - clients, spouses and employers as well as the general membership - is invited and encouraged to attend. The Annual Dinner was held in February 2023 with 300 attendees.

  • PROFESSIONAL LEARNING - Professional learning events are held throughout our active months (September through June). Programs typically are offered in an evening format and provide updates on current industry topics and best practices. Meetings are open to members, other industry professionals and students. Speakers are representatives from the financial services industry, both local and national perspectives. In FY2023 (Sep 2022-Aug 2023), we offered more than 24 in person and virtual events, attended by more than 900.

  • NEW CFA CHARTERHOLDER RECOGNITION - The Chartered Financial Analyst (CFA) designation is a globally recognized standard for measuring the competence and integrity of investment professionals. The three levels of examination verify a candidate's ability to apply these principles across all areas of the investment decision-making process. The program's professional conduct requirements demand that both CFA candidates and charterholders adhere to the highest standards of ethical responsibility. In FY 23 we held 1 dinner with more than 60 attendees.

As filed on the 2022 return.

Listed in Part VII

  • Chris May

    Immediate Past President

    Total calculated
    $0
    Hours/week
    5

  • Kate Lyons

    President

    Total calculated
    $0
    Hours/week
    10

  • Rob Britton

    Vice President

    Total calculated
    $0
    Hours/week
    10

  • Cory Markling

    Treasurer

    Total calculated
    $0
    Hours/week
    10

  • Melissa Gilbertson

    Secretary

    Total calculated
    $0
    Hours/week
    5

  • Christy Bipes

    Director

    Total calculated
    $0
    Hours/week
    2

  • Matt Grimes

    Director

    Total calculated
    $0
    Hours/week
    2

  • Jonathan Levy

    Director

    Total calculated
    $0
    Hours/week
    2

  • Andrew Rem

    Director

    Total calculated
    $0
    Hours/week
    5

  • David Slegh

    Director

    Total calculated
    $0
    Hours/week
    5

  • Phil Stern

    Director

    Total calculated
    $0
    Hours/week
    2

  • Zac Wanzek

    Director

    Total calculated
    $0
    Hours/week
    10

  • KC Connors

    Director

    Total calculated
    $0
    Hours/week
    5

  • Mackenzie Merrill

    Director

    Total calculated
    $0
    Hours/week
    5

  • Katy Farley

    Director

    Total calculated
    $0
    Hours/week
    5

  • Mark Salter

    Executive Director

    Total calculated
    $106,721
    From this org
    $104,604
    From related orgs
    $0
    Other
    $2,117
    Hours/week
    40

  • Shannon Schaaf

    Executive Director

    Total calculated
    $15,096
    From this org
    $15,096
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
17 June 2024
IRS schema version
2022v5.0
Source object
202441799349300549

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