Form 990 for tax year 2024
Filed by CFA INSTITUTE RESEARCH FOUNDATION.
Totals
- Total revenue
- $1,529,556
- Total expenses
- $841,442
- Contributions and grants received
- $303,026
- Grants paid
- $10,000
- Program service revenue
- $1,896
- Investment income
- $1,223,951
- Other revenue
- $683
- Total assets, end of year
- $23,038,972
- Total liabilities, end of year
- $171,572
- Net assets or fund balances, end of year
- $22,867,400
- Program services expenses (Part IX)
- $740,596
- Management and general expenses
- $100,846
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $740,271
Program services were 88.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
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.
-
1d · Related organizations
$128,575
-
1f · All other contributions, gifts and grants
$174,451
-
2a · Program service revenue: PUBLICATIONS
total $1,896 · related or exempt $1,896
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $586,834 · excluded $586,834
-
5 · Royalties
total $683 · excluded $683
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $1,340,000
-
7b · Less cost or other basis and sales expenses
securities $702,883
-
7c · Gain or loss
securities $637,117 · other assets $0
-
7d · Net gain or loss
total $637,117 · excluded $637,117
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
3 · Grants to foreign organizations and individuals
total $10,000 · program services $10,000
-
9 · Other employee benefits
total $0 · management and general $0
-
11c · Fees: accounting
total $49,434 · management and general $49,434
-
11g · Fees: other
total $472,617 · program services $472,617 · management and general $0 · fundraising $0
-
12 · Advertising and promotion
total $0 · program services $0
-
13 · Office expenses
total $16,352 · program services $12,540 · management and general $3,812
-
14 · Information technology
total $128,790 · program services $128,790
-
17 · Travel
total $42,646 · program services $42,646
-
19 · Conferences, conventions and meetings
total $18,908 · program services $18,908
-
21 · Payments to affiliates
total $95,300 · program services $47,700 · management and general $47,600
-
24a · Other expenses: Other
total $7,395 · program services $7,395 · management and general $0
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $36,559 · end of year $121,845
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $0 · end of year $366
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $62,583 · end of year $7,000
-
10a · Land, buildings and equipment: cost or other basis
$0
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
beginning of year $21,131,809 · end of year $22,852,940
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $95,180 · end of year $56,821
-
17 · Accounts payable and accrued expenses
beginning of year $119,025 · end of year $96,342
-
22 · Loans and payables to officers and key people
end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $75,230
-
27 · Net assets without donor restrictions
beginning of year $21,207,106 · end of year $22,867,400
Mission and programs · 2024
Mission
SEE SCHEDULE O
Activities or mission (Part I)
CFA INSTITUTE RESEARCH FOUNDATION'S MISSION IS TO PROVIDE INDEPENDENT, HIGH QUALITY RESEARCH TO INFUSE THE FINANCE COMMUNITY WITH KNOWLEDGE, EDUCATION, AND IDEAS FOR BETTER INVESTMENT DECISION-MAKING.
-
MEMBER VALUE PROGRAMS: CFA INSTITUTE RESEARCH FOUNDATION SPONSORED, PUBLISHED, AND DISTRIBUTED RESEARCH THAT CONTRIBUTED TO THE GLOBAL BODY OF KNOWLEDGE THAT INVESTMENT PROFESSIONALS AROUND THE WORLD USE IN THEIR DAY-TO-DAY PRACTICE. THE FOUNDATION ALSO OFFERED COMPLIMENTARY ACCESS TO INVESTMENT INFORMATION SERVICES FOR INVESTMENT PROFESSIONALS, INCLUDING CFA INSTITUTE MEMBERS. OVER THE PAST YEAR, THE FOUNDATION PUBLISHED: I. FINANCIAL ENTREPRENEURSHIP II. OPTIMAL DESIGN OF LIFE-CYCLE FUNDS IN EMERGING MARKET COUNTRIES. III. A COMPREHENSIVE GUIDE TO ETFs (2ND EDITION) IV. DE-RISKING GLOBAL PENSION SYSTEMS V. MACROECONOMIC DRIVERS OF STOCKS AND BONDS VI. STOCKS FOR THE LONG RUN? NEW EVIDENCE, OLD DEBATES
Expenses $740,271 · Grants $10,000 · Revenue $1,896
As filed on the 2024 return.
Listed in Part VII
-
AARON LOW
VICE-CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
JEFFREY BAILEY
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
MARGARET FRANKLIN
BOARD MEMBER
- Total calculated
- $1,489,299
- From this org
- $0
- From related orgs
- $1,444,710
- Other
- $44,589
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $729,500 related
- Bonus
- $0 + $699,886 related
- Other
- $0 + $15,324 related
- Deferred
- $0 + $41,400 related
- Nontaxable benefits
- $0 + $3,189 related
- Filer's total
- $0 + $1,489,299 related
-
AARON BROWN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
DAVE UDUANU
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
GIUSEPPE BALLOCCHI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
JOANNE HILL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
KURT WINKLEMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
LOTTA MOBERG
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
PHILIP GRAHAM
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
SUSAN SPINNER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
KIMBALL E MAYNARD
TREASURER
- Total calculated
- $295,595
- From this org
- $0
- From related orgs
- $246,134
- Other
- $49,461
- Hours/week
- 2 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $197,117 related
- Bonus
- $0 + $44,250 related
- Other
- $0 + $4,767 related
- Deferred
- $0 + $28,964 related
- Nontaxable benefits
- $0 + $20,497 related
- Filer's total
- $0 + $295,595 related
-
LYDIA OOGHE
SECRETARY
- Total calculated
- $93,431
- From this org
- $0
- From related orgs
- $68,081
- Other
- $25,350
- Hours/week
- 2 + 40 related
-
WALTER V HASLETT JR
EXEC. DIRECTOR/BOARD MEMBER (END 8/2023)
- Total calculated
- $125,000
- From this org
- $125,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0
Schedule J breakdown matched by us
- Base
- $125,000
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $125,000
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · First-class or charter travel
- 1a · Travel for companions
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a First-class or charter travel
- THE BOARD OF TRUSTEES MAY BE ELIGIBLE FOR FIRST CLASS RAIL TRAVEL.
- Schedule J, Part I, Line 1a Travel for companions
- THE BOARD OF TRUSTEES ARE ELIGIBLE TO PURCHASE AN ADDITIONAL TICKET FOR ONE COMPANION IN THE SAME CLASS OF SERVICE FOR ONE BUSINESS TRIP PER FISCAL YEAR. THE COST OF THE SECOND TICKET IS COVERED BY CFA INSTITUTE RESEARCH FOUNDATION BUT REPRESENTS TAXABLE INCOME TO THE TRAVELER. THIS BENEFIT DOES NOT ROLL OVER IF NOT USED WITHIN THE FISCAL YEAR.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(c)(6) · NP PROF ASSOC · VA
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 July 2026
- IRS schema version
- 2024v5.1
- Source object
- 202631959349300418
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