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CFA INSTITUTE RESEARCH FOUNDATION

EIN 54-6063408 CHARLOTTESVLE, VA

Revenue 2024
$1,529,556
Expenses 2024
$841,442

Program services were 88.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

As filed

Subsection
03
NTEE code
B05
Classification
2000
Street
915 E HIGH ST

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

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.

Officers and directors · 2024

As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

  • 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. Earlier years are each on their own filing page.

Filings

  • 2024
    Revenue
    $1,529,556
    Expenses
    $841,442
    Contributions
    $303,026
    Grants paid
    $10,000
  • 2023
    Revenue
    $2,390,616
    Expenses
    $793,993
    Contributions
    $332,718
    Grants paid
    $36,000
  • 2022
    Revenue
    $902,437
    Expenses
    $620,419
    Contributions
    $381,101
    Grants paid
    $40,205

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

  • 2021 · 990

    Revenue
    $3,613,196
    Expenses
    $585,333
    Assets (EOY)
    $17,781,846

  • 2020 · 990

    Revenue
    $1,062,651
    Expenses
    $490,710
    Assets (EOY)
    $20,673,964

  • 2019 · 990

    Revenue
    $1,144,692
    Expenses
    $976,692
    Assets (EOY)
    $17,228,240

  • 2018 · 990

    Revenue
    $908,777
    Expenses
    $799,059
    Assets (EOY)
    $15,596,962

  • 2017 · 990

    Revenue
    $1,130,713
    Expenses
    $686,811
    Assets (EOY)
    $15,492,750

  • 2016 · 990

    Revenue
    $901,990
    Expenses
    $672,678
    Assets (EOY)
    $14,495,628

  • 2015 · 990

    Revenue
    $726,423
    Expenses
    $600,065
    Assets (EOY)
    $13,077,413

  • 2014 · 990

    Revenue
    $722,531
    Expenses
    $547,774
    Assets (EOY)
    $12,388,016

  • 2013 · 990

    Revenue
    $853,169
    Expenses
    $577,591
    Assets (EOY)
    $13,012,697

  • 2011 · 990

    Revenue
    not reported
    Expenses
    $526,764
    Assets (EOY)
    $10,698,081

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

Where these grants went next →

Grants received

Related organizations

From Schedule R Part II, where a filer lists the tax-exempt organizations it is related to by control. It does not record shared board members or money.

Declared on its 2024 return

Declared as related by

Taxable family

From Schedule R Parts I, III and IV: entities that legally are the filer, and taxable partnerships, corporations and trusts it is related to. These record ownership and control, not shared board members or money.

Related corporations and trusts on its 2023 return

Other IRS files

Auto-Revocation List

Not listed. The IRS publishes this list for organizations whose exemption was automatically revoked for failing to file for three consecutive years.

Publication 78

Listed as of 13 October 2026, under deductibility PC.

These are two separate IRS files on two separate schedules, shown as published and not reconciled with each other. Neither is a statement about whether a contribution is deductible today: 19,245 organizations appear in Publication 78 while the IRS's own revocation file lists them as currently revoked, more than half of those revoked before 2019. Absence from Publication 78 is evidence of nothing, and presence is not evidence either. Verify current status with the IRS before relying on it.

What this page reflects

The registration facts above come from the IRS Business Master File published 13 October 2026 and read 29 October 2026, for every organization at once. Returns through tax year 2024, the newest we have parsed for this organization.