Virginia · Nonprofit
CFA INSTITUTE
CFA INSTITUTE (Virginia) receives grants from 3 organizations whose IRS filings report $9,721 to it, the largest being ARMAND G ERPF FUND ($4,649). 3 of them have funded it in more than one year.
- Revenue FY2024
- $463M
- Funders on record
- 3
- Grants received
- $10k
- Net assets
- $565M
What Cfa Institute does
Mission
Cfa Institute is the global, non-profit professional membership association that administers the chartered financial analyst (cfa) certificate, the certificate in investment performance measurement (cipm), and the certificate in esg investing and also provides professional learning courses. Examination programs are conducted worldwide along with research, professional development programs and professional conduct enforcement for its individual members. The organization sets voluntary, ethics-based professional and performance-reporting standards for the investment profession. The stated mission of the organization is to lead the investment profession globally by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. Cfa Institute pursues this mission on behalf of its individual members who currently number 211,157 in 170 markets. Cfa Institute's membership includes 205,109 cfa charterholders and extends its reach into local communities through a network of 158 member societies in 82 markets. Cfa Institute is headquartered in charlottesville, virginia, united states, with branch offices in london, brussels, hong kong,…
As stated on its FY2024 Form 990.
Programs
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.
The 3 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $0.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2023 to 2024, from $775M to $913M (+18%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 1 of the last 8 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
The chief executive listed changed between the FY2019 and FY2020, and between the FY2020 and FY2021 filings.
Who funds it, year by year
2017 → 2023: the base broadened from 1 funder to 2 funders, grant income rose $525 → $799.
From the IRS filings of CFA INSTITUTE’s funders (the co-funder graph). Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
CFA INSTITUTE leans on a few funders — its largest provides 48% of grant income and the top three 100%; half comes from just 2 funders.
the vertical line marks half of all grant income — 2 funders to its left
Largest funder’s share by year: 2017 100% · 2018 83% · 2019 62% · 2020 65% · 2021 65% · 2022 74% · 2023 63% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Where its funders are
CFA INSTITUTE draws 100% of its grant income from funders outside Virginia, across 2 states in all.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Government funding CFA INSTITUTE receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $6k on record.
- NJ$4k
- FL$2k
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like CFA INSTITUTE
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Virginia
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Governance
Footprint & structure
Part of a family of 8 related entities
- Cfa Institute China Limited · disregarded
- Cfa Institute India Private Ltd · disregarded
- Cfa Global Holdings LLC · disregarded
- Si Wei Beijing Enterprise Mgmt · disregarded
- Cfa Institute Singapore Pvt Ltd · disregarded
Screen this organization
A dated, signed PDF of the compliance screen for CFA INSTITUTE: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds CFA INSTITUTE?
- CFA INSTITUTE (Virginia) receives grants from 3 organizations whose IRS filings report $9,721 to it, the largest being ARMAND G ERPF FUND ($4,649). 3 of them have funded it in more than one year.
- How many funders does CFA INSTITUTE have?
- IRS filings report 3 organizations giving $9,721 in grants to CFA INSTITUTE, 3 of which have funded it in more than one year.
- Who is the largest funder of CFA INSTITUTE?
- ARMAND G ERPF FUND is the largest funder on record, with $4,649 in grants. The full list of funders is on this page.
- How can an organization like CFA INSTITUTE find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Virginia. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2024 (financials across 2017–2024), and the filings of 3 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 22, 2026. What this page cannot tell you · view filing