Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

MediumBullet The organization may have to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0047
2010
Open to Public Inspection
A For the calendar year, or tax year beginning 09-01-2010 and ending 08-31-2011
BCheck if applicable:
CName of organization
CFA INSTITUTE
 
Doing Business As
 
 
Number and street (or P.O. box if mail is not delivered to street address)
PO BOX 2083
 
Room/suite
City or town, state or country, and ZIP + 4
CHARLOTTESVILLE, VA229022083
D Employer identification number

54-1386480
E Telephone number

G Gross receipts $ 258,693,784
F Name and address of principal officer:
JOHN ROGERS
560 RAY C HUNT DR
CHARLOTTESVILLE,VA229032981
I
Tax-exempt status: ( 6 ) LeftBullet (insert no.) or
J
Website:MediumBullet
www.cfainstitute.org
H(a)
Is this a group return for
affiliates?
H(b)
Are all affiliates included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1986
M State of legal domicile: VA
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: TO LEAD THE INVESTMENT PROFESSION GLOBALLY BY PROMOTING THE HIGHEST STANDARDS OF ETHICS, EDUCATION, AND PROFESSIONAL EXCELLENCE FOR THE ULTIMATE BENEFIT OF SOCIETY.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) .... 3 18
4 Number of independent voting members of the governing body (Part VI, line 1b) .... 4 17
5 Total number of individuals employed in calendar year 2010 (Part V, line 2a) ... 5 912
6 Total number of volunteers (estimate if necessary) .... 6 2,000
7a Total unrelated business revenue from Part VIII, column (C), line 12 .. 7a 849,878
b Net unrelated business taxable income from Form 990-T, line 34 .. 7b 89,289
Revenues; Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 0 0
9 Program service revenue (Part VIII, line 2g) ......... 192,801,794 210,559,230
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 7,407,530 8,832,364
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 229,166 818,888
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 200,438,490 220,210,482
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 3,984,639 5,290,265
14 Benefits paid to or for members (Part IX, column (A), line 4) .... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 49,929,796 62,574,607
16a Professional fundraising fees (Part IX, column (A), line 11e).... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet0    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f).... 133,408,425 142,479,856
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 187,322,860 210,344,728
19 Revenue less expenses. Subtract line 18 from line 12...... 13,115,630 9,865,754
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............ 256,598,053 291,556,743
21 Total liabilities (Part X, line 26)............ 134,599,510 149,625,989
22 Net assets or fund balances. Subtract line 21 from line 20 ..... 121,998,543 141,930,754
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title.
Paid Preparer's Use Only Preparer's
signatureBig Right Arrow 		Date
right pointing bullet image Preparer’s taxpayer identification number
(see instructions)
Firm’s name (or yours
if self-employed),
address, and ZIP + 4Big Right Arrow




 		EIN right pointing bullet image
Phone no. right pointing bullet image
May the IRS discuss this return with the preparer shown above? (see instructions) .........
For Privacy Act and Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2010)
Form 990 (2010)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response to any question in this Part III . . . . . . . . . .
1
Briefly describe the organization’s mission: CFA INSTITUTE IS THE GLOBAL, NON-PROFIT PROFESSIONAL ASSOCIATION THAT ADMINISTERS THE CHARTERED FINANCIAL ANALYST (CFA) AND CERTIFICATE IN INVESTMENT PERFORMANCE MEASUREMENT (CIPM) CURRICULUM AND EXAMINATION PROGRAMS WORLDWIDE, PUBLISHES RESEARCH, CONDUCTS PROFESSIONAL DEVELOPMENT PROGRAMS, AND 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 MEMBERS WHO CURRENTLY NUMBER 107,600 AND WHO RESIDE IN 135 COUNTRIES. THIS MEMBERSHIP INCLUDES 95,800 CFA CHARTERHOLDERS. CFA INSTITUTE EXTENDS ITS REACH INTO LOCAL COMMUNITIES THROUGH A NETWORK OF 135 MEMBER SOCIETIES IN 58 COUNTRIES. CFA INSTITUTE IS HEADQUARTERED IN CHARLOTTESVILLE, VIRGINIA, UNITED STATES, WITH OFFICES IN LONDON,
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ....................
If “Yes,” describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ..........................
If “Yes,” describe these changes on Schedule O.
4
Describe the exempt purpose achievements for each of the organization’s three largest program services by expenses.
Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
THE CHARTERED FINANCIAL ANALYST CFA PROGRAM: THE ORGANIZATION ADMINISTERS THE WORLD-RENOWNED CFA PROGRAM, WHICH IS A THREE-LEVEL, EDUCATION AND EXAMINATION PROGRAM COVERING TOPICS ESSENTIAL TO THE INVESTMENT DECISION-MAKING PROCESS. THESE TOPICS FORM WHAT IS KNOWN AS THE 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, AND PORTFOLIO MANAGEMENT.
4b (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
PROFESSIONAL DEVELOPMENT: THE ORGANIZATION BELIEVES STRONGLY IN LIFELONG LEARNING AND THEREFORE SPONSORS AND DISSEMINATES A VARIETY OF EDUCATIONAL CONTENT TO MEMBER AND NONMEMBER INVESTMENT PROFESSIONALS ON TOPICS RELEVANT TO THE PROFESSION. THIS CONTENT IS DELIVERED THROUGH PUBLICATIONS, SUCH AS THE FINANCIAL ANALYSTS JOURNAL, THROUGH IN-PERSON CONFERENCES, AND THROUGH THE INTERNET, MOST NOTABLY THROUGH INTERACTIVE WEBCASTS AND PODCASTS.
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
THOUGHT LEADERSHIP: THROUGH THE STANDARDS AND FINANCIAL MARKET INTEGRITY DIVISION OF CFA INSTITUTE, 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, TO WHICH ALL MEMBERS OF THE ORGANIZATION AND CANDIDATES IN THE CFA PROGRAM ARE REQUIRED TO ADHERE.
4d Other program services. (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet$  
Form 990 (2010)
Form 990 (2010)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule A.....................
1
 
No
2
Is the organization required to complete Schedule B, Schedule of Contributors? ........
2
 
No
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part IClick to see attachment..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part II.........................
4
 
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part IIIClick to see attachment........................
5
Yes
 
6
Did the organization maintain any donor advised funds or any similar funds or accounts where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete
Schedule D, Part IClick to see attachment.......................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III Click to see attachment....................
8
 
No
9
Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IVClick to see attachment...................
9
 
No
10
Did the organization, directly or through a related organization, hold assets in term, permanent,or quasi-endowments? If “Yes,” complete Schedule D, Part VClick to see attachment
10
 
No
11
If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:
a
Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI.Click to see attachment
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII.Click to see attachment
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII.Click to see attachment
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX.Click to see attachment
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X.Click to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X.Click to see attachment
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, and program service activities outside the United States? If “Yes,” complete Schedule F, Part I......... Click to see attachment
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II.. Click to see attachment
15
Yes
 
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III.. Click to see attachment
16
 
No
17
Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II..........
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III...................
19
 
No
Form 990 (2010)
Form 990 (2010)
Page 4
Part IV
Checklist of Required Schedules (continued)
20a
Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....
20a
 
No
b
Did the organization attach its audited financial statement to this return? Note: All Form 990 filers that operate one or more hospitals must attach audited financial statements. .....
20b
 
 
21
Did the organization report more than $5,000 of grants and other assistance to governments and organizations in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
Yes
 
22
Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III..... Click to see attachment
22
 
No
23
Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................ Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
 
d
Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I......
25a
 
 
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I................
25b
 
 
26
Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II...........................
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor, or a grant selection committee member, or to a person related to such an individual? If “Yes,” complete Schedule L, Part III...............
27
 
No
28
Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV .........................
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV...................
28b
 
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or owner? If “Yes,” complete Schedule L, Part IV..
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule M
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II.......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........ Click to see attachment
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1..................... Click to see attachment
34
Yes
 
35
Is any related organization a controlled entity within the meaning of section 512(b)(13)? .....
35
Yes
 
a
Did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2... Click to see attachment
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2...........
36
 
 
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VIClick to see attachment
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2010)
Form 990 (2010)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response to any question in this Part V . . . . . . . . . .
Yes
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......
1a
458
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements filed for the calendar year ending with or within the year covered by this return .....................
2a
912
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?.............................
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account or securities account)?.......................
4a
Yes
 
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible?..........
6a
 
No
b
If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
 
 
b
If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
 
d
If “Yes,” indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................
7e
 
 
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
 
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............
7h
 
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?.........
9a
 
 
b
Did the organization make a distribution to a donor, donor advisor, or related person?......
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.
13a
 
 
b
Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.
13b
 
c
Enter the aggregate amount of reserves on hand.
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
 
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
 
Form 990 (2010)
Form 990 (2010)
Page 6
Part VI
Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response to any question in this Part VI . . . . . . . . . .
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year ..............
1a
18
b
Enter the number of voting members included in line 1a, above, who are independent .................
1b
17
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? ..
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
4
Yes
 
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Does the organization have members or stockholders? ................
6
Yes
 
7a
Does the organization have members, stockholders, or other persons who may elect one or more members of the governing body? .........................
7a
Yes
 
b
Are any decisions of the governing body subject to approval by members, stockholders, or other persons? ..
7b
Yes
 
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)
Yes
No
10a
Does the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If “Yes,” does the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with those of the organization? ....
10b
 
 
11a
Has the organization provided a copy of this Form 990 to all members of its governing body before filing the form?
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....
12a
Does the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Are officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ...........................
12b
Yes
 
c
Does the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this is done ....................
12c
Yes
 
13
Does the organization have a written whistleblower policy? ...............
13
Yes
 
14
Does the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line a or b, describe the process in Schedule O. (See instructions.)
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If “Yes,” has the organization adopted a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and taken steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you make these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization makes its governing documents, conflict of interest policy, and financial statements available to the public.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet
TIM MCLAUGHLIN
560 RAY C HUNT DR
CHARLOTTESVILLE,VA229022083
(434) 951-5499
Form 990 (2010)
Form 990 (2010)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response to any question in this Part VII . . . . . . . . . .
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(1) MARGARET E FRANKLIN CFA
CHAIRMAN OF THE BOARD
 1.0 X   X       0 0 0
(2) DANIEL S MEADER CFA
VICE CHAIR OF THE BOARD
 1.0 X   X       0 0 0
(3) THOMAS B WELCH CFA
IMMEDIATE PAST CHAIR
 1.0 X   X       4,527 0 0
(4) AARON LOW CFA
MEMBER, BOARD OF GOVERNORS
 1.0 X           0 0 0
(5) ALAN M MEDER CFA CPA
AUDIT & RISK COMMITTEE CHAIR
 1.0 X           7,617 0 0
(6) BETH HAMILTON-KEEN CFA
MEMBER, BOARD OF GOVERNORS
 1.0 X           4,700 0 0
(7) CHARLES J YANG CFA
EXT REL & VOL INVOLVMNT CHAIR
 1.0 X           0 0 0
(8) GIUSEPPE BALLOCCHI CFA
MEMBER, BOARD OF GOVERNORS
 1.0 X           5,131 0 0
(9) JAMES G JONES CFA
MEMBER, BOARD OF GOVERNORS
 1.0 X           3,400 0 0
(10) JANE SHAO CFA
MEMBER, BOARD OF GOVERNORS
 1.0 X           0 0 0
(11) JEFFREY D LORENZEN CFA
MEMBER, BOARD OF GOVERNORS
 1.0 X           0 0 0
(12) KAY RYAN BOOTH
MEMBER, BOARD OF GOVERNORS
 1.0 X           0 0 0
(13) MARK JP ANSON CFA
MEMBER, BOARD OF GOVERNORS
 1.0 X           0 0 0
(14) PIERRE CARDON CFA
MEMBER, BOARD OF GOVERNORS
 1.0 X           0 0 0
(15) ROGER URWIN
PLANNING COMMITTEE CHAIR
 1.0 X           0 0 0
(16) SAEED M AL-HAJERI CFA
MEMBER, BOARD OF GOVERNORS
 1.0 X           0 0 0
(17) STANLEY G LEE CFA
MEMBER, BOARD OF GOVERNORS
 1.0 X           0 0 0
Form 990 (2010)
Form 990 (2010)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (describe hours for related organizations in Schedule O) 		(C)
Position (check all that apply) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; Officer; Key Employee; Highest compensated employee; Former;
(18) JOHN ROGERS CFA
PRESIDENT & CEO
 40.0 X   X       1,119,900 0 72,019
(19) JOSEPH P LANGE
CORPORATE SECRETARY
 40.0     X       97,165 0 21,681
(20) TIMOTHY G MCLAUGHLIN CFA
CHIEF FINANCIAL OFFICER
 40.0     X       520,854 0 47,929
(21) ROBERT R JOHNSON CFA
MANAGING DIRECTOR
 40.0       X     808,961 0 62,541
(22) ASHVIN P VIBHAKAR CFA
MANAGING DIRECTOR
 40.0       X     907,385 0 48,613
(23) DONNA MARSHALL
MANAGING DIRECTOR
 40.0       X     244,337 0 18,348
(24) JAN R SQUIRES CFA
MANAGING DIRECTOR
 40.0       X     555,664 0 52,166
(25) CAROL J ANDERSON
GENERAL COUNSEL
 40.0       X     344,745 0 47,638
(26) KURT N SCHACHT CFA
MANAGING DIRECTOR
 40.0       X     540,800 0 56,144
(27) NITIN MEHTA CFA
MANAGING DIRECTOR
 40.0       X     416,984 0 89,285
(28) RAYMOND J DEANGELO
MANAGING DIRECTOR
 40.0       X     581,612 0 47,398
(29) THOMAS ROBINSON CFA
MANAGING DIRECTOR
 40.0       X     477,534 0 44,941
(30) JEAN A CASH
MANAGING DIRECTOR (LEFT 1/10)
 40.0       X     193,734 0 21,293
(31) MICHAEL K DALTON
MANAGING DIRECTOR (LEFT 8/10)
 40.0       X     363,785 0 28,564
(32) CHRISTINE I KOPPEL CFA
DESIGNATED OFFICER
 40.0         X   361,517 0 21,802
(33) DENNIS MCLEAVEY CFA
HEAD EDUCATION
 40.0         X   333,094 0 28,073
(34) PETER B MACKEY CFA
HEAD CFA EXAMINATIONS
 40.0         X   352,506 0 28,460
(35) RAHUL KESHAP
DIR STRATEGY OPERATIONS
 40.0         X   517,207 0 30,234
(36) STEPHEN M HORAN CFA
HEAD PRIVATE WEALTH
 40.0         X   322,285 0 31,919
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 9,085,444 0 799,048
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 in reportable compensation from the organizationMediumBullet112
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
PEARSON EDUCATION
PO BOX 409479
ATLANTA,GA30384 		PUBLISHING 20,557,114
PBD INC
1650 BLUEGRASS LAKES PKWY
ALPHARETTA,GA30004 		DISTRIBUTION 11,606,560
AMERICAN EXPRESS TRAVEL RELATED SVS
200 VESEY STREET
NEW YORK,NY10285 		TRAVEL 8,410,628
DOREMUS COMPANY
200 VARICK STREET
NEW YORK,NY10014 		MARKETING 6,750,357
PROFESSIONAL EXAMINATION SERVICE
475 RIVERSIDE DRIVE
NEW YORK,NY10115 		EXAM ADMIN 4,427,414
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 in compensation from the organization MediumBullet155
Form 990 (2010)
Form 990 (2010)
Page 9
Part VIII
Statement of Revenue
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, gifts, grants and other similar amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and
similar amounts not included above1f 		 
g Noncash contributions included in lines 1a-1f:$  
h Total. Add lines 1a-1f.......MediumBullet 0
Program Service Revenue Business Code
2a CANDIDATE FEES 900,099 130,000,205 130,000,205    
b EDUCATIONAL PRODUCTS 611,710 51,364,719 51,364,719    
c MEMBERSHIP DUES 900,099 28,344,428 28,344,428    
d ADVERTISING 541,800 849,878   849,878  
e
f All other program service revenue .        
g Total. Add lines 2a–2f........MediumBullet 210,559,230
Other Revenue 3 Investment income (including dividends, interest
and other similar amounts).....MediumBullet 6,184,566     6,184,566
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0     0
5 Royalties............MediumBullet 246,517     246,517
(i) Real (ii) Personal
6a Gross Rents    
b Less: rental expenses    
c Rental income or (loss)    
d Net rental income or (loss).......MediumBullet        
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 41,131,100 0
b Less: cost or other basis and sales expenses 38,477,268 6,034
c Gain or (loss) 2,653,832 -6,034
d Net gain or (loss)..........MediumBullet 2,647,798     2,647,798
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from fundraising events..MediumBullet 0   0
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet 0     0
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet 0     0
Miscellaneous Revenue Business Code
11a CHINA SERVICE FEES 900,099 124,219 124,219    
b MISCELLANEOUS 900,099 107,206 107,206    
c MAILING LISTS 900,099 340,946 340,946    
d All other revenue ....        
e Total. Add lines 11a–11d ......MediumBullet 572,371
12 Total revenue. See Instructions....MediumBullet 220,210,482 210,281,723 849,878 9,078,881
Form 990 (2010)
Form 990 (2010)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the U.S. See Part IV, line 21 2,658,879  
2 Grants and other assistance to individuals in the U.S. See Part IV, line 22 0  
3 Grants and other assistance to governments, organizations, and individuals outside the U.S. See Part IV, lines 15 and 16 2,631,386  
4 Benefits paid to or for members 0  
5 Compensation of current officers, directors, trustees, and key employees .... 9,382,515      
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .... 0      
7 Other salaries and wages 40,689,665      
8 Pension plan contributions (include section 401(k) and section 403(b) employer contributions) .... 4,061,123      
9 Other employee benefits ....... 5,430,480      
10 Payroll taxes ........... 3,010,824      
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 2,687,320      
c Accounting ........... 1,053,073      
d Lobbying ........... 200,789      
e Professional fundraising. See Part IV, line 17.. 0  
f Investment management fees ...... 0      
g Other .......... 3,310,127      
12 Advertising and promotion .... 16,131,136      
13 Office expenses ....... 20,128,767      
14 Information technology ...... 6,551,851      
15 Royalties .. 1,884      
16 Occupancy ........... 5,898,054      
17 Travel ............ 19,474,831      
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 5,607,530      
20 Interest ........... 0      
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 6,627,061      
23 Insurance .............. 1,516,093      
24 Other expenses. Itemize expenses not covered above. (Expenses grouped together and labeled miscellaneous may not exceed 5% of total expenses shown on line 25 below.)
a PRODUCT MERCHANDISE COSTS 23,143,920      
b EXAM ADMINISTRATION EXPENSES 26,949,984      
c RECRUITING 1,454,077      
d TAXES 1,194,577      
e MEMBERSHIP DUES & OTHER 548,782      
f All other expenses        
25 Total functional expenses. Add lines 1 through 24f 210,344,728      
26 Joint costs. Check here MediumBullet if following
SOP 98-2 (ASC 958-720). Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation 		       
Form 990 (2010)
Form 990 (2010)
Page 11
Part X Balance Sheet
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing .......... 1,512,317 1 7,121,947
2 Savings and temporary cash investments ....... 34,136,887 2 33,106,054
3 Pledges and grants receivable, net .........   3  
4 Accounts receivable, net ......... 582,283 4 1,019,005
5 Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..........   5  
6 Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
Schedule L ..........   6  
7 Notes and loans receivable, net .............   7  
8 Inventories for sale or use .............. 6,161,249 8 10,448,836
9 Prepaid expenses and deferred charges ............ 7,173,492 9 7,189,724
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 24,773,523
b Less: accumulated depreciation. ..... 10b 16,542,459 6,799,737 10c 8,231,064
11 Investments—publicly traded securities .......... 188,578,980 11 215,962,722
12 Investments—other securities. See Part IV, line 11 ......   12  
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets ......... 9,941,998 14 6,719,882
15 Other assets. See Part IV, line 11 ........... 1,711,110 15 1,757,509
16 Total assets. Add lines 1 through 15 (must equal line 34)... 256,598,053 16 291,556,743
Liabilities 17 Accounts payable and accrued expenses . 21,945,780 17 29,120,382
18 Grants payable ..........   18  
19 Deferred revenue .......... 111,171,313 19 118,442,600
20 Tax-exempt bond liabilities ..........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D..   21  
22 Payables to current and former officers, directors, trustees, key
employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities. Complete Part X of Schedule D..... 1,482,417 25 2,063,007
26 Total liabilities. Add lines 17 through 25..... 134,599,510 26 149,625,989
Net Assets or Fund Balance Organizations that follow SFAS 117, check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets ..... 121,998,543 27 141,930,754
28 Temporarily restricted net assets ..... 0 28 0
29 Permanently restricted net assets ..... 0 29 0
Organizations that do not follow SFAS 117, check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds .....   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ..... 121,998,543 33 141,930,754
34 Total liabilities and net assets/fund balances ..... 256,598,053 34 291,556,743
Form 990 (2010)
Form 990 (2010)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response to any question in this Part XI . . . . . . . . . .
1
Total revenue (must equal Part VIII, column (A), line 12) . . .
1
220,210,482
2
Total expenses (must equal Part IX, column (A), line 25) . . . . .
2
210,344,728
3
Revenue less expenses. Subtract line 2 from line 1 . . . .
3
9,865,754
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) . .
4
121,998,543
5
Other changes in net assets or fund balances (explain in Schedule O) . . . .
5
10,066,457
6
Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) . . . . . .
6
141,930,754
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response to any question in this Part XII . . . . . . . . . .
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?..
2a
 
No
b
Were the organization’s financial statements audited by an independent accountant?........
2b
Yes
 
c
If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O............................
2c
Yes
 
d
If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................
3a
 
No
b
If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..
3b
 
 
Form 990 (2010)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE C
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527
SchCMd Bullet Complete if the organization is described below.
SchCMd Bullet Attach to Form 990 or Form 990-EZ. SchCMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public
Inspection
If the organization answered “Yes,” to Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered “Yes,” to Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)) Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered “Yes,” to Form 990, Part IV, Line 5 (Proxy Tax) or Form 990-EZ, Part V, line 35a (Proxy Tax), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
CFA INSTITUTE
 
Employer identification number

54-1386480
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization's direct and indirect political campaign activities on behalf of or in opposition to candidates for public office in Part IV.
2
Political expenditures ....................................SchCMd Bullet
$  
3
Volunteer hours ........................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 .........SchCMd Bullet
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 ......SchCMd Bullet
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? ..............
4a
Was a correction made? .........................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c) except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities SchCMd Bullet
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt funtion activities ....................................SchCMd Bullet

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b..SchCMd Bullet

$  
4
Did the filing organization file Form 1120-POL for this year? ..........................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.










For Privacy Act and Paperwork Reduction Act Notice, see the instructions for Form 990.
Cat. No. 50084S
Schedule C (Form 990 or 990-EZ) 2010

Schedule C (Form 990 or 990-EZ) 2010
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check
B Check
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
Organization's
Totals 		(b) Affiliated Group
Totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ......    
b Total lobbying expenditures to influence a legislative body (direct lobbying) .......    
c Total lobbying expenditures (add lines 1a and 1b) ...................    
d Other exempt purpose expenditures ........................    
e Total exempt purpose expenditures (add lines 1c and 1d) ...............    
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		    
  If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:    
  Not over $500,00020% of the amount on line 1e.    
  Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.    
  Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.    
  Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.    
  Over $17,000,000$1,000,000.    
       
g Grassroots nontaxable amount (enter 25% of line 1f) .................    
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................    
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................    
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ......................................

4-Year Averaging Period Under Section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the instructions for lines 2a through 2f on page 4.)
Lobbying Expenditures During 4-Year Averaging Period
  Calendar year (or fiscal year
beginning in) 		(a) 2007 (b) 2008 (c) 2009 (d) 2010 (e) Total
             
2a Lobbying non-taxable amount          
             
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		         
             
c Total lobbying expenditures          
             
d Grassroots non-taxable amount          
             
e Grassroots ceiling amount
(150% of line 2d, column (e))		          
             
f Grassroots lobbying expenditures          
Schedule C (Form 990 or 990-EZ) 2010


Schedule C (Form 990 or 990-EZ) 2010
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
(a)
Yes
No
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? .........................................
 
 
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ....
 
 
c
Media advertisements? ....................................
 
 
 
d
Mailings to members, legislators, or the public? .........................
 
 
 
e
Publications, or published or broadcast statements? .......................
 
 
 
f
Grants to other organizations for lobbying purposes? .......................
 
 
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? ........
 
 
 
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ......
 
 
 
i
Other activities? If "Yes," describe in Part IV ..........................
 
 
 
j
Total. lines 1c through 1i ...................................
 
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
 
b
If "Yes," enter the amount of any tax incurred under section 4912 .................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 .....
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? .......
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ................
1
 
No
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ................
2
 
No
3
Did the organization agree to carryover lobbying and political expenditures from the prior year? ..........
3
 
No
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) if BOTH Part III-A, lines 1 and 2 are answered “No” OR if Part III-A, line 3 is answered “Yes”.
1
Dues, assessments and similar amounts from members .....................
1
28,344,428
2
Section 162(e) non-deductible lobbying and political expenditures (do not include amounts of political
expenses for which the section 527(f) tax was paid).
a
Current year .........................................
2a
210,222
b
Carryover from last year ....................................
2b
0
c
Total ...........................................
2c
210,222
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ................................
4
0
5
Taxable amount of lobbying and political expenditures (see instructions) ..............
5
210,222
Part IV
Supplemental Information
Complete this part to provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; and Part ll-B, line 1i.
Also, complete this part for any additional information.
Identifier Return Reference Explanation
Schedule C (Form 990 or 990EZ) 2010

Additional Data


Software ID:  
Software Version:  

SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11, or 12.
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
CFA INSTITUTE
 
Employer identification number

54-1386480
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .......    
2 Aggregate contributions to (during year) ...    
3 Aggregate grants from (during year) ...    
4 Aggregate value at end of year .......    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds may be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit. ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a–2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06 ........ 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the taxable year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................
9
In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116, not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116, to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:
(i)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 52283D
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIV and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If “Yes,” explain the arrangement in Part XIV.
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current Year (b)Prior Year (c)Two Years Back (d)Three Years Back (e)Four Years Back
1a Beginning of year balance ....      
b Contributions ........      
c Investment earnings or losses ...      
d Grants or scholarships .....      
e Other expenditures for facilities
and programs ........ 		     
f Administrative expenses ....      
g End of year balance ......      
2
Provide the estimated percentage of the year end balance held as:
a
Board designated or quasi-endowment: SchDMd Bullet  
b
Permanent endowment: SchDMd Bullet  
c
Term endowment: SchDMd Bullet  
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
 
(ii) related organizations ........................
3a(ii)
 
 
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIV the intended uses of the organization's endowment funds.
Part VI
Investments—Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of investment (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................      
b Buildings ................        
c Leasehold improvements ............   7,932,113 5,664,639 2,267,474
d Equipment ................   16,067,881 10,877,820 5,190,061
e Other .................   773,529   773,529
Total. Add lines 1a-1e. (Column (d) should equal Form 990, Part X, column (B), line 10(c).)........SchDMdBullet 8,231,064
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 3
Part VII
Investments—Other Securities. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
Other








Total. (Column (b) should equal Form 990, Part X, col.(B) line 12.)Small Bullet  
Part VIII
Investments—Program Related. See Form 990, Part X, line 13.
(a) Description of investment type (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) should equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. See Form 990, Part X, line 25.
1.(a) Description of Liability (b) Amount
Federal Income Taxes 0
DEFERRED RENT 677,116
DEFERRED COMPENSATION 1,385,891







Total. (Column (b) should equal Form 990, Part X, col.(B) line 25.)Small Bullet 2,063,007
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).
Schedule D (Form 990) 2010

Schedule D (Form 990) 2010
Page 4
Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1 Total revenue (Form 990, Part VIII, column (A), line 12) .................... 1 220,210,482
2 Total expenses (Form 990, Part IX, column (A), line 25) ..................... 2 210,344,728
3 Excess or (deficit) for the year. Subtract line 2 from line 1 ............. 3 9,865,754
4 Net unrealized gains (losses) on investments .......................... 4 10,066,457
5 Donated services and use of facilities ............................. 5  
6 Investment expenses ................................... 6  
7 Prior period adjustments .................................. 7  
8 Other (Describe in Part XIV) ................................. 8  
9 Total adjustments (net). Add lines 4 - 8 ............................. 9 10,066,457
10 Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 ......... 10 19,932,211
Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1 230,282,973
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a 10,066,457
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIV): ............ 2d  
e Add lines 2a through 2d ..................... 2e 10,066,457
3 Subtract line 2e from line 1..................... 3 220,216,516
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIV): ........... 4b -6,034
c Add lines 4a and 4b....................... 4c -6,034
5 Total Revenue. Add lines 3 and 4c. (This should equal Form 990, Part I, line 12.) ...... 5 220,210,482
Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ............. 1 210,350,762
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIV): ............ 2d 6,034
e Add lines 2a through 2d...................... 2e 6,034
3 Subtract line 2e from line 1..................... 3 210,344,728
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIV): ............ 4b  
c Add lines 4a and 4b....................... 4c  
5 Total expenses. Add lines 3 and 4c. (This should equal Form 990, Part I, line 18.) ...... 5 210,344,728
Part XIV
Supplemental Information
Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.
Identifier Return Reference Explanation
SCHEDULE D, PART X, LINE 2   CFA INSTITUTE HAS PERFORMED AN EVALUATION OF ITS UNRELATED BUSINESS INCOME AND HAS MAINTAINED ITS TAX EXEMPT STATUS. CFA INSTITUTE BELIEVES THAT IT HAS ADEQUATELY PROVIDED FOR ALL OPEN TAX YEARS BY TAX JURISDICTION UNDER THE FASB ASC TOPIC ON INCOME TAXES AND HAS NO UNCERTAIN TAX POSITIONS.
SCHEDULE D, PART XII, LINE 4B   LOSS ON DISPOSAL OF ASSETS (6,034)
SCHEDULE D, PART XIII, LINE 2D   LOSS ON DISPOSAL OF ASSETS 6,034
Schedule D (Form 990) 2010

Additional Data


Software ID:  
Software Version:  




SCHEDULE F
(Form 990)

Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right pointing arrow large image Complete if the organization answered "Yes" to Form 990,
Part IV, line 14b, 15, or 16.
Right pointing arrow large image Attach to Form 990. Right pointing arrow large image See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
CFA INSTITUTE
 
Employer identification number

54-1386480
Part I
General Information on Activities Outside the United States. Complete if the organization answered
“Yes” to Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of the grants or
assistance, the grantees' eligibility for the grants or assistance, and the selection criteria used to award
the grants or assistance? ...................................
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of grant funds outside the
United States.
3
Activites per Region. (Use Part V if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees or agents in region or independent contractors (d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in region		 (f) Total
expenditures for region/investments
in region
Central America and the Caribbean 0 0 Program Services MEMBER & EXAM SUPPORT 16,735
East Asia and the Pacific 3 35 Program Services MEMBER & EXAM SUPPORT 13,543,724
Europe (Including Iceland and Greenland) 2 24 Program Services MEMBER & EXAM SUPPORT 12,810,287
Middle East and North Africa 0 0 Program Services MEMBER & EXAM SUPPORT 402,311
North America 0 0 Program Services MEMBER & EXAM SUPPORT 1,363,986
Russia and the Newly Independent States 0 0 Program Services MEMBER & EXAM SUPPORT 315,416
South America 0 1 Program Services MEMBER & EXAM SUPPORT 952,834
South Asia 0 0 Program Services MEMBER & EXAM SUPPORT 924,271
Sub-Saharan Africa 0 0 Program Services MEMBER & EXAM SUPPORT 140,125
Central America and the Caribbean 0 0 Grantmaking N/A 54,359
East Asia and the Pacific 0 0 Grantmaking N/A 466,570
Europe (Including Iceland and Greenland) 0 0 Grantmaking N/A 1,023,749
Middle East and North Africa 0 0 Grantmaking N/A 64,706
North America 0 0 Grantmaking N/A 565,527
Russia and the Newly Independent States 0 0 Grantmaking N/A 122,145
South America 0 0 Grantmaking N/A 52,314
South Asia 0 0 Grantmaking N/A 242,091
Sub-Saharan Africa 0 0 Grantmaking N/A 39,925
3a Sub-total ..... 5 60 33,061,150
b Total from continuation sheets to Part I ... 0 0 39,925
c Totals (add lines 3a and 3b) 5 60 33,101,075
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990,
Part IV, line 15, for any recipient who received more than $5,000. Check this box if no one recipient received more than $5,000 ........ MediumBullet
Use Part V if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (c) Region (d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount of
of non-cash
assistance 		(h) Description
of non-cash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
North America GEN SUPPORT 18,209 WIRE/CHECK 0 N/A N/A
Middle East/North Africa GEN SUPPORT 15,222 WIRE/CHECK 0 N/A N/A
Cent. America/Caribbean GEN SUPPORT 8,500 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 13,205 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 23,000 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 41,647 WIRE/CHECK 0 N/A N/A
South Asia GEN SUPPORT 22,194 WIRE/CHECK 0 N/A N/A
Russia GEN SUPPORT 90,145 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 19,058 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 14,146 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 17,509 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 25,391 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 25,069 WIRE/CHECK 0 N/A N/A
Middle East/North Africa GEN SUPPORT 12,709 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 23,771 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 23,013 WIRE/CHECK 0 N/A N/A
South America GEN SUPPORT 19,049 WIRE/CHECK 0 N/A N/A
Cent. America/Caribbean GEN SUPPORT 12,920 WIRE/CHECK 0 N/A N/A
South America GEN SUPPORT 33,265 WIRE/CHECK 0 N/A N/A
Middle East/North Africa GEN SUPPORT 13,000 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 16,999 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 45,659 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 27,555 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 20,021 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 18,450 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 17,425 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 35,915 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 17,478 WIRE/CHECK 0 N/A N/A
Cent. America/Caribbean GEN SUPPORT 7,060 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 18,000 WIRE/CHECK 0 N/A N/A
Cent. America/Caribbean GEN SUPPORT 10,000 WIRE/CHECK 0 N/A N/A
Sub-Saharan Africa GEN SUPPORT 31,270 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 17,000 WIRE/CHECK 0 N/A N/A
South Asia GEN SUPPORT 21,339 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 51,532 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 9,500 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 15,373 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 7,181 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 18,609 WIRE/CHECK 0 N/A N/A
Middle East/North Africa GEN SUPPORT 7,795 WIRE/CHECK 0 N/A N/A
Middle East/North Africa GEN SUPPORT 15,979 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 16,358 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 36,394 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 308,963 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 31,514 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 97,756 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 14,372 WIRE/CHECK 0 N/A N/A
South Asia GEN SUPPORT 125,000 WIRE/CHECK 0 N/A N/A
South Asia GEN SUPPORT 73,558 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 8,535 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 88,843 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 49,859 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 14,546 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 18,583 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 71,117 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 45,409 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 14,358 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 15,892 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 5,638 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 56,862 WIRE/CHECK 0 N/A N/A
Sub-Saharan Africa GEN SUPPORT 8,654 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 20,000 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 162,280 WIRE/CHECK 0 N/A N/A
Cent. America/Caribbean GEN SUPPORT 15,879 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 33,969 WIRE/CHECK 0 N/A N/A
East Asia/Pacific GEN SUPPORT 25,000 WIRE/CHECK 0 N/A N/A
North America GEN SUPPORT 220,221 WIRE/CHECK 0 N/A N/A
Russia GEN SUPPORT 17,500 WIRE/CHECK 0 N/A N/A
Europe/Iceland/Greenland GEN SUPPORT 96,641 WIRE/CHECK 0 N/A N/A
Russia GEN SUPPORT 12,000 WIRE/CHECK 0 N/A N/A
2
Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .....MediumBullet
0
3
Enter total number of other organizations or entities ........................MediumBullet
70
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.
Use Part V if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
non-cash
assistance 		(g) Description
of non-cash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926 (see instructions for Form 926).................
2 Did the organization have an interest in a foreign trust during the tax year? If " Yes," the organization may be required to file Form 3520 and/or Form 3520-A. (see instructions for Forms 3520 and 3520-A)..........
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with respect to Certain Foreign Corporations. (see instructions for Form 5471)..............................
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If "Yes," the organization may be required to file Form 8621, Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see instructions for Form 8621)
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with respect to Certain Foreign Partnerships. (see instructions for Form 8865)....................................
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see instructions for Form 5713)................................................
Schedule F (Form 990) 2010
Schedule F (Form 990) 2010
Page 5
Part V
Supplemental Information
Complete this part to provide the information (see instructions) required in Part I, line 2, and any additional information.
Identifier ReturnReference Explanation
SCHEDULE F, PART I, LINE 2   INDIVIDUAL GRANT PAYMENTS ARE MONITORED AND TRACKED BY CFA INSTITUTE STAFF. GRANT RECIPIENTS ARE REQUIRED TO SUBMIT EXPENSE REIMBURSEMENT FORMS AND/OR DETAILED BUSINESS PLANS AND BUDGETS.
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
Schedule F (Form 990) 2010
Additional Data


Software ID:  
Software Version:  



Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
CFA INSTITUTE
 
Employer identification number
54-1386480
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Governments and Organizations in the United States. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21 for any recipient that received more than $5,000. Check this box if no one recipient received more than $5,000. Use
Part IV and Schedule I-1 (Form 990) if additional space is needed ......................... lBullet
(a) Name and address of organization
or government		 (b) EIN (c) IRC Code section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance
(1) Baltimore CFA Society Inc575 S Charles St
Baltimore,MD21201 		52-0895933   35,281 0 N/A N/A GEN SUPPORT
(2) Boston Security Analysts Society260 Franklin St Ste 1540
Boston,MA02110 		23-7069432   113,427 0 N/A N/A GEN SUPPORT
(3) CFA HawaiiPO Box 580
Honolulu,HI96809 		87-0753677   12,500 0 N/A N/A GEN SUPPORT
(4) CFA MiamiPO Box 960901
Miami,FL33296 		61-1572381   17,289 0 N/A N/A GEN SUPPORT
(5) CFA North Carolina Society3004 Exbow Ct
Raleigh,NC27613 		56-1824044   36,012 0 N/A N/A GEN SUPPORT
(6) CFA Society of Alabama100 Office Park Dr
Birmingham,AL35223 		63-1064381   22,505 0 N/A N/A GEN SUPPORT
(7) CFA Society of Arkansas11 Center St
Litte Rock,AR72201 		58-2055805   8,500 0 N/A N/A GEN SUPPORT
(8) CFA Society of Atlanta248 Creekstone Ridge
Woodstock,GA30188 		58-1105110   54,578 0 N/A N/A GEN SUPPORT
(9) CFA Society of AustinPO Box 1467
Austin,TX78767 		72-1621543   19,736 0 N/A N/A GEN SUPPORT
(10) CFA Society of Buffalo IncPO Box 539
Buffalo,NY14205 		20-5170662   12,657 0 N/A N/A GEN SUPPORT
(11) CFA Society of Chicago134 N Lasalle St
Chicago,IL60602 		36-2595074   81,996 0 N/A N/A GEN SUPPORT
(12) CFA Society of Cleveland3637 Medina Rd
Medina,OH44256 		23-7065462   36,187 0 N/A N/A GEN SUPPORT
(13) CFA Society of Colorado6957 Lakeview St
Littleton,CO80120 		84-0585027   33,590 0 N/A N/A GEN SUPPORT
(14) CFA Society of ColumbusPO Box 25
Blacklick,OH43004 		31-1393658   31,752 0 N/A N/A GEN SUPPORT
(15) CFA Society of DallasFort WorthPO Box 8205116
Dallas,TX75382 		23-7078748   32,623 0 N/A N/A GEN SUPPORT
(16) CFA Society of Detroit35464 Jeffers Ct
Harrison Twnshp,MI48045 		38-6087152   28,144 0 N/A N/A GEN SUPPORT
(17) CFA Society of Idaho7661 W Riverside Dr 105
OPEN,ID83714 		04-3704521   8,367 0 N/A N/A GEN SUPPORT
(18) CFA Society of Iowa Inc711 High St
Des Moines,IA53092 		42-1152989   26,036 0 N/A N/A GEN SUPPORT
(19) CFA Society of Jacksonville1579 Greens Wy
Jksnville Bch,FL32250 		59-1606008   17,800 0 N/A N/A GEN SUPPORT
(20) CFA Society of Los Angeles350 S Grand Ave
Los Angeles,CA90071 		95-6069970   53,679 0 N/A N/A GEN SUPPORT
(21) CFA Society of Louisiana228 St Charles Ave
New Orleans,LA70130 		72-0947195   11,852 0 N/A N/A GEN SUPPORT
(22) CFA Society of Louisville1802 Crossgate Lane
Louisville,KY40222 		61-1333979   17,295 0 N/A N/A GEN SUPPORT
(23) CFA Society of Madison1241 John Q Hammons Dr
Madison,WI53717 		39-1929703   24,192 0 N/A N/A GEN SUPPORT
(24) CFA Society of Memphis5118 Park Ave
Memphis,TN38117 		62-1636928   24,921 0 N/A N/A GEN SUPPORT
(25) CFA Society of Milwaukee Inc100 East Wisconsin Ave
Milwaukee,WI53202 		23-7072850   31,666 0 N/A N/A GEN SUPPORT
(26) CFA Society of Minnesota1300 Rand Tower
Minneapolis,MN55402 		41-1861989   44,113 0 N/A N/A GEN SUPPORT
(27) CFA Society of Mississippi1018 Highlnd Colny Pkwy
Ridgeland,MS39157 		64-0716591   9,499 0 N/A N/A GEN SUPPORT
(28) CFA Society of Naples11094 Rvr Trent Ct
Lehigh Acres,FL33971 		59-3405436   13,870 0 N/A N/A GEN SUPPORT
(29) CFA Society of Nashville7003 Chadwick Dr 350
Brentwood,TN37027 		62-1181717   20,538 0 N/A N/A GEN SUPPORT
(30) CFA Society of Nebraska IncPO Box 80685
Lincoln,NE68501 		47-0667513   16,740 0 N/A N/A GEN SUPPORT
(31) CFA Society of Nevada2251 S Ft Apadie Rd
Las Vegas,NV89117 		20-0195946   13,900 0 N/A N/A GEN SUPPORT
(32) CFA Society of New MexicoPO Box 36947
Albuquerque,NM87176 		85-0454738   11,000 0 N/A N/A GEN SUPPORT
(33) CFA Society of OklahomaPO BOX 13006
Oklahmoma City,OK73113 		20-3779358   7,919 0 N/A N/A GEN SUPPORT
(34) CFA Society of Orange County4533 MacArthur Blvd
Newport Beach,CA92660 		33-0228558   30,723 0 N/A N/A GEN SUPPORT
(35) CFA Society of OrlandoPO BOX 2783
Orlando,FL32802 		59-3213363   13,968 0 N/A N/A GEN SUPPORT
(36) CFA Society of Philadelphia100 North 20 St
Philadelphia,PA19103 		23-6395738   70,725 0 N/A N/A GEN SUPPORT
(37) CFA Society of PortlandPO Box 434
Portland,OR79207 		23-7358083   32,574 0 N/A N/A GEN SUPPORT
(38) CFA Society of Rochester2 Berrywood Circle
Pennfield,NY14526 		16-0977751   12,611 0 N/A N/A GEN SUPPORT
(39) CFA Society of Sacramento915 L St Ste C-252
Sacramento,CA95814 		94-3315268   14,134 0 N/A N/A GEN SUPPORT
(40) CFA Society of Salt Lake150 Social Hall
Salt Lake City,UT84145 		61-1526448   31,102 0 N/A N/A GEN SUPPORT
(41) CFA Society of San Antonio12526 La Aventura St
San Antonio,TX78233 		74-1660459   14,308 0 N/A N/A GEN SUPPORT
(42) CFA Society of San DiegoPO Box 928456
San Diego,CA92192 		23-7069278   26,993 0 N/A N/A GEN SUPPORT
(43) CFA Society of San Francisco300 Montgomery St
San Francisco,CA94104 		94-6078576   92,145 0 N/A N/A GEN SUPPORT
(44) CFA Society of Seattle18221-102nd Avenue NE
Bothell,WA98011 		91-1164972   43,334 0 N/A N/A GEN SUPPORT
(45) CFA Society of South Carolina2711 Middleburg Dr
Columbia,SC29204 		57-1134283   5,897 0 N/A N/A GEN SUPPORT
(46) CFA Society of South Florida8602 Tourmaline Blvd
Boynton Bch,FL33437 		30-0325375   17,494 0 N/A N/A GEN SUPPORT
(47) CFA Society of Spokane808 W Sopkane Falls
Spokane,WA99201 		91-1592696   11,100 0 N/A N/A GEN SUPPORT
(48) CFA Society of St Louis330 Wenneker Dr
St Louis,MO63124 		43-6031785   35,331 0 N/A N/A GEN SUPPORT
(49) CFA Society of Washington DC1620 Eye St NW
Washington,DC20006 		23-7360649   69,986 0 N/A N/A GEN SUPPORT
(50) CFA Tampa Bay12157 W Linebaugh Ave
Tampa,FL33626 		51-0669210   23,548 0 N/A N/A GEN SUPPORT
(51) CFA Virginia5808 Paragon Pl
Richmond,VA23230 		54-1429832   24,890 0 N/A N/A GEN SUPPORT
(52) CFA West Michigan Society134 N Lasalle St
Kalamazoo,MI49009 		38-0892650   12,669 0 N/A N/A GEN SUPPORT
(53) Dayton CFA Society10 N Ludlow St
STE 800
Dayton,OH45402 		26-0659612   13,500 0 N/A N/A GEN SUPPORT
(54) CFA Society of Houston10401 Westoffice Drive
Houston,TX77042 		23-7004744   36,401 0 N/A N/A GEN SUPPORT
(55) Institutional Investors EducationSTE 400 1 Mifflin Pl
Cambridge,MA02138 		20-3393241   20,000 0 N/A N/A GEN SUPPORT
(56) Kansas City CFA Society330 Wenneker Dr
St Louis,MO63124 		82-0560661   24,444 0 N/A N/A GEN SUPPORT
(57) Maine CFA SocietyPO Box 258
Bar Harbor,ME04609 		04-3547791   8,500 0 N/A N/A GEN SUPPORT
(58) Museum of American Finance48 Wall Street
New York,NY10005 		13-3540880   10,000 0 N/A N/A GEN SUPPORT
(59) New York Society of Security Analysts1540 Brdway Ste 1010
New York,NY10036 		13-5610350   159,054 0 N/A N/A GEN SUPPORT
(60) Phoenix CFA Society16435 N Scottsdale Rd
Scottsdale,AZ85254 		86-0469879   24,543 0 N/A N/A GEN SUPPORT
(61) Research Foundation of CFA Institute560 Ray C Hunt Dr
Chrlottsville,VA22902 		54-6063408 501(C)(3) 588,514 0 N/A N/A GEN SUPPORT
(62) Stamford CFA Society6 Oliver St
S Norwalk,CT06854 		06-1513527   15,589 0 N/A N/A GEN SUPPORT
(63) The Chattanogga Society of Financial Analysts520 Lookout Street
Chattanooga,TN37403 		54-5301049   11,644 0 N/A N/A GEN SUPPORT
(64) CFA Society of Cincinnati Inc4010 Exec Park Dr
Suite 100
CincinnatI,OH45241 		23-7094427   22,593 0 N/A N/A GEN SUPPORT
(65) The Pittsburgh Society of Financial AnalystsPO Box 1212
Pittsburgh,PA15230 		25-1421153   21,924 0 N/A N/A GEN SUPPORT
(66) The Providence Society of Financial Analysts200 Seaport Blvd 32N
Boston,MA02210 		23-7069442   17,379 0 N/A N/A GEN SUPPORT
(67) Tuscon Society of CFA Institute1820 E River Rd
Tuscon,AZ85714 		27-0863018   10,500 0 N/A N/A GEN SUPPORT
(68) Vermont CFA Society110 Main St
Burlington,VT05401 		04-3374500   12,500 0 N/A N/A GEN SUPPORT
(69) CFA Society of Indianapolis IncPO Box 90232
Indianapolis,IN46290 		23-7119206   22,496 0 N/A N/A GEN SUPPORT
(70) The Hartford CFA SocietyPO Box 182
North Grandy,CT06060 		06-0964607   23,666 0 N/A N/A GEN SUPPORT
2
Enter total number of section 501(c)(3) and government organizations ......................... Bullet Image
1
3
Enter total number of other organizations ................................ . Bullet Image
69
For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2010

Schedule I (Form 990) 2010
Page 2
Part III
Grants and Other Assistance to Individuals in the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Use Schedule I-1 (Form 990) if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance













Part IV
Supplemental Information. Complete this part to provide the information required in Part I, line 2, and any other additional information.
Identifier Return Reference Explanation
SCHEDULE I, PART I, LINE 2   INDIVIDUAL GRANT PAYMENTS ARE MONITORED AND TRACKED BY CFA INSTITUTE STAFF. GRANT RECIPIENTS ARE REQUIRED TO SUBMIT EXPENSE REIMBURSEMENT FORMS AND/OR DETAILED BUSINESS PLANS AND BUDGETS.
Schedule I (Form 990) 2010


Additional Data


Software ID:  
Software Version:  


Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
CFA INSTITUTE
 
Employer identification number

54-1386480
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement orprovision of all the expenses described above? If "No," complete Part III to explain....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
officers, directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the organization uses to establish the compensation of the
organization's CEO/Executive Director. Check all that apply.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ...............
4a
Yes
 
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? ........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? ........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.
5
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
 
b
Any related organization? .........................
5b
 
 
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
 
b
Any related organization? .........................
6b
 
 
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
 
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regs. section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
 
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990
Cat. No. 50053T
Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use Schedule J-1 if additional space needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.

Note. The sum of columns (B)(i)-(iii) must equal the applicable column (D) or column (E) amounts on Form 990, Part VII, line 1a.
(A) Name (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation
reported in prior
Form 990 or
Form 990-EZ
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1) JOHN ROGERS CFA (i)
(ii)		 593,618
0 		522,925
0 		3,357
0 		57,967
0 		14,052
0 		1,191,919
0 		0
0
(2) ROBERT R JOHNSON CFA (i)
(ii)		 442,360
0 		361,992
0 		4,609
0 		47,967
0 		14,574
0 		871,502
0 		28,333
0
(3) TIMOTHY G MCLAUGHLIN CFA (i)
(ii)		 309,189
0 		206,147
0 		5,518
0 		32,738
0 		15,191
0 		568,783
0 		19,167
0
(4) ASHVIN P VIBHAKAR CFA (i)
(ii)		 302,947
0 		168,899
0 		435,539
0 		37,967
0 		10,646
0 		955,998
0 		18,067
0
(5) DONNA MARSHALL (i)
(ii)		 179,468
0 		43,512
0 		21,357
0 		9,493
0 		8,855
0 		262,685
0 		0
0
(6) JAN R SQUIRES CFA (i)
(ii)		 346,549
0 		189,224
0 		19,891
0 		41,511
0 		10,655
0 		607,830
0 		21,000
0
(7) CAROL J ANDERSON (i)
(ii)		 238,094
0 		103,313
0 		3,338
0 		33,301
0 		14,337
0 		392,383
0 		0
0
(8) KURT N SCHACHT CFA (i)
(ii)		 352,560
0 		182,629
0 		5,611
0 		41,967
0 		14,177
0 		596,944
0 		23,558
0
(9) NITIN MEHTA CFA (i)
(ii)		 283,102
0 		128,498
0 		5,384
0 		80,015
0 		9,270
0 		506,269
0 		18,165
0
(10) RAYMOND J DEANGELO (i)
(ii)		 356,374
0 		217,764
0 		7,474
0 		41,967
0 		5,431
0 		629,010
0 		23,667
0
(11) THOMAS ROBINSON CFA (i)
(ii)		 330,167
0 		143,109
0 		4,258
0 		39,633
0 		5,308
0 		522,475
0 		0
0
(12) CHRISTINE I KOPPEL CFA (i)
(ii)		 199,504
0 		27,501
0 		134,512
0 		17,056
0 		4,746
0 		383,319
0 		0
0
(13) DENNIS MCLEAVEY CFA (i)
(ii)		 220,814
0 		34,452
0 		77,828
0 		17,967
0 		10,106
0 		361,167
0 		0
0
(14) PETER B MACKEY CFA (i)
(ii)		 284,013
0 		63,656
0 		4,837
0 		17,967
0 		10,493
0 		380,966
0 		0
0
(15) RAHUL KESHAP (i)
(ii)		 165,381
0 		25,450
0 		326,376
0 		16,353
0 		13,881
0 		547,441
0 		0
0
(16) STEPHEN M HORAN CFA (i)
(ii)		 255,818
0 		63,759
0 		2,708
0 		17,961
0 		13,958
0 		354,204
0 		0
0
(17) JEAN A CASH (i)
(ii)		 14,398
0 		48,965
0 		130,371
0 		9,406
0 		11,887
0 		215,027
0 		0
0
(18) MICHAEL K DALTON (i)
(ii)		 189,932
0 		86,256
0 		87,597
0 		17,967
0 		10,597
0 		392,349
0 		12,880
0
Schedule J (Form 990) 2010

Schedule J (Form 990) 2010
Page 3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 4c, 5a, 5b, 6a, 6b, 7, and 8. Also complete this part for any additional information.
Identifier Return Reference Explanation
SCHEDULE J, PART I, LINE 1A   FIRST-CLASS TRAVEL: AN EMPLOYEE CAN PURCHASE FIRST CLASS TRAVEL WHEN ELIGIBLE FOR BUSINESS CLASS TRAVEL AND SUCH TRAVEL IS NOT AVAILABLE. BUSINESS CLASS TRAVEL IS ALLOWED FOR FLIGHTS OVER 7 HOURS. TRAVEL FOR COMPANIONS: AN EMPLOYEE CAN EXCHANGE BUSINESS CLASS AIRFARE FOR TWO COACH AIRFARES TO INCLUDE COMPANION TRAVEL. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: CERTAIN REIMBURSEMENTS, INCLUDING HOUSING AND UTILITIES, FOR EXPATRIATES ARE GROSSED-UP. ALL EXPATRIATES AND INTERNATIONAL ROTATION ASSIGNMENT PROGRAM EMPLOYEES' SALARIES ARE EQUALIZED TO THEIR RESIDENTIAL TAX CODE. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: CFA INSTITUTE PAYS THE COST OF A PERSONAL RESIDENCE IN THE COUNTRY TO WHICH EACH EXPATRIATE IS ASSIGNED. ON OCCASION, CFA INSTITUTE PAYS FOR RELOCATION HOUSING AND INCLUDES THIS IN THE EMPLOYEE'S COMPENSATION. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES: HEALTH CLUB MEMBERSHIP FEES ARE REIMBURSABLE TO THE EMPLOYEE UNDER CFA INSTITUTE'S WELLNESS PROGRAM.
SCHEDULE J-1, PART I, COLUMN B(III)   OTHER REPORTABLE COMPENSATION REFLECTED IN B(III) INCLUDES EXPATRIATE COMPENSATION.
FORM 990, PART VII, COLUMN D   THOMAS B WELCH: $4,527 RELATES TO 2 FOR 1 COMPANION TICKET(S) AND NOT COMPENSATION. ALAN M MEDER: $3,292 RELATES TO 2 FOR 1 COMPANION TICKET(S) AND $4,325 FOR GRADER COMPENSATION AND NOT FOR SERVICE AS A BOARD MEMBER. GIUSEPPE BALLOCCHI RECEIVED $5,131 FOR GRADER COMPENSATION AND NOT FOR SERVICE AS A BOARD MEMBER. ELIZABETH HAMILTON-KEEN RECEIVED $4,700 FOR GRADER COMPENSATION AND NOT FOR SERVICE AS A BOARD MEMBER. JAMES JONES RECEIVED $3,400 FOR GRADER COMPENSATION AND NOT FOR SERVICE AS A BOARD MEMBER.
SCHEDULE J, PART I, LINE 4A   SEVERANCE PAYMENTS WERE MADE AS FOLLOWS: MICHAEL DALTON, $65,000 JEAN CASH, $116,667
Schedule J (Form 990) 2010

Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2010
Open to Public
Inspection
Name of the organization
CFA INSTITUTE
 
Employer identification number

54-1386480
Identifier Return Reference Explanation
PART III, LINE 4D   OTHER PROGRAMS AND SERVICES: CFA INSTITUTE ALSO DEVELOPS A VARIETY OF PROGRAMS AND SERVICES IN ITS SERVICE TO MEMBERS AND TO THE GLOBAL INVESTMENT COMMUNITY AT LARGE. SUCH PROGRAMS INCLUDE THE CERTIFICATE IN INVESTMENT PERFORMANCE MEASUREMENT (CIPM) PROGRAM, WHICH IS A CERTIFICATION PROGRAM FOCUSED ON INVESTMENT PROFESSIONALS WHO WORK IN THE NICHE AREA OF PERFORMANCE MEASUREMENT; CAREER DEVELOPMENT SERVICES; AND OTHER NETWORKING-TYPE SERVICES DESIGNED TO FACILITATE DISCUSSION AND CAMARADERIE AMONG MEMBERS.
PART V, LINE 4B FOREIGN COUNTRIES HONG KONG, UNITED KINGDOM, CHINA, MALAYSIA.
PART VI, LINE 4   THE CFA INSTITUTE BOARD OF GOVERNORS UPDATED ITS BYLAWS TO INCREASE TRANSPARENCY AND EFFICIENCY, AND TO REFLECT A GOAL OF CORPORATE-BASED GOVERNANCE DOCUMENTS BASED ON CURRENT BEST PRACTICES.
PART VI, LINES 6, 7A & 7B   THE CLASSES OF MEMBERSHIP IN CFA INSTITUTE ARE REGULAR MEMBERS, AFFILIATE MEMBERS, CHARTERHOLDER MEMBERS, AND MEMBER SOCIETIES. REGULAR MEMBERS ARE ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED AT MEMBER MEETINGS. REGULAR MEMBERS ALSO HAVE THE RIGHT TO ELECT THE BOARD OF GOVERNORS. THE BOARD MAY HAVE UP TO TWO GOVERNORS WHO ARE NOT REGULAR MEMBERS. ALL OTHER GOVERNORS SHALL BE REGULAR MEMBERS.
PART VI, LINE 11B   FORM 990 WILL BE PRESENTED TO THE AUDIT AND RISK COMMITTEE TO BE DISCUSSED IN DETAIL. IN ADDITION, COPIES WILL BE PROVIDED TO EACH OF THE BOARD OF GOVERNORS. THESE PRESENTATIONS WILL TAKE PLACE PRIOR TO FILING.
PART VI, LINE 12C   THE CONFLICT OF INTEREST STATEMENTS ARE COLLECTED ANNUALLY. STAFF DISCLOSURES MAY BE DIRECTED TO ANY MEMBER OF THE GENERAL COUNSEL OFFICE, THE COMPLIANCE OFFICER OR MEMBER OF THE AUDIT AND RISK COMMITTEE. GOVERNOR DISCLOSURES MAY BE DIRECTED TO THE CFA INSTITUTE CHAIR OR GENERAL COUNSEL. ANNUAL TRAINING IS PROVIDED BY THE OFFICE OF GENERAL COUNSEL. ALL EMPLOYEES ACKNOWLEDGE THEIR UNDERSTANDING AND ADHERENCE TO THE CODE OF CONDUCT ANNUALLY. THE RESTRICTIONS IMPOSED ON A PERSON WITH A CONFLICT VARY BASED ON THE CONFLICT, THE POSITION OF THE PERSON, AND THE SITUATION; HOWEVER, IT COULD INCLUDE PROHIBITING A BOARD MEMBER FROM PARTICIPATING IN A PARTICULAR DELIBERATION AND/OR DECISION.
PART VI, LINES 15A & 15B   THE ORGANIZATION USED A SPECIALIST CONSULTING FIRM TO REVIEW MARKET DATA FOR THE PRESIDENT & CEO, CFO, AS WELL AS MANAGING DIRECTORS AT CFA INSTITUTE. CFA INSTITUTE USED BENCHMARK DATA COLLECTED FROM THE NOT-FOR-PROFIT AND FOR-PROFIT MARKETPLACE USING PUBLISHED SURVEY DATA AND THE FORM 990 OF ORGANIZATIONS SIMILAR IN SIZE (FTE AND REVENUE) TO HELP DETERMINE COMPENSATION. COMPENSATION IS ALSO REVIEWED BY THE BOARD OF GOVERNORS COMPENSATION COMMITTEE WHICH IS COMPRISED OF INDEPENDENT GOVERNORS.
PART VI, LINE 19   THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC THROUGH THE ORGANIZATION'S WEBSITE, WWW.CFAINSTITUTE.ORG.
PART XI, LINE 5 OTHER CHANGES IN NET ASSETS NET UNREALIZED GAINS ON INVESTMENTS 10,066,457.
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:JOHN ROGERS, CFA TITLE:PRESIDENT & CEO HOURS:1
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:TIMOTHY G MCLAUGHLIN, CFA TITLE:CHIEF FINANCIAL OFFICER HOURS:1
HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:ROBERT R JOHNSON, CFA TITLE:MANAGING DIRECTOR HOURS:1
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2010

Additional Data


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SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" to Form 990, Part IV, line 33, 34, 35, 36, or 37.
MediumBulletAttach to Form 990. MediumBullet See separate instructions.

OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
CFA INSTITUTE
 
Employer identification number

54-1386480
Part I
Identification of Disregarded Entities (Complete if the organization answered "Yes" on Form 990, Part IV, line 33.)
(a)
Name, address, and EIN of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income
(e)
End-of-year assets


 		(f)
Direct controlling
entity







(1) CFA INSTITUTE CHINA LIMITED
1401 HUTCHISON HOUSE
10 HARCOURT RD    
HK
98-0615079 		PROF. ORG HK 124,219 160,176 NA
 










Part II
Identification of Related Tax-Exempt Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.)
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section
(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled organization
Yes No
(1) RESEARCH FOUNDATION OF CFA INSTITUTE

PO BOX 2083

CHARLOTTESVILLE,VA22902
54-6063408 		INV. RESEARCH VA 501(c)3 7 NA
 
 
 












For Privacy Act and Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.)
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V—UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No












Part IV
Identification of Related Organizations Taxable as a Corporation or Trust (Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.)
(a)
Name, address, and EIN of related organization



 		(b)
Primary activity



 		(c)
Legal domicile
(state or
foreign
country)
 		(d)
Direct controlling
entity


 		(e)
Type of entity
(C corp, S corp,
or trust)

 		(f)
Share of total income



 		(g)
Share of
end-of-year
assets

 		(h)
Percentage
ownership












Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 3
Part V
Transactions With Related Organizations (Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35, 35A, or 36.)
Note. Complete line 1 if any entity is listed in Parts II, III or IV.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest (ii) annuities (iii) royalties (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
 
No
b Gift, grant, or capital contribution to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
Yes
 
c Gift, grant, or capital contribution from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
 
No
d Loans or loan guarantees to or for other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
 
No
e Loans or loan guarantees by other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Sale of assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Purchase of assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Exchange of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Lease of facilities, equipment, or other assets to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Performance of services or membership or fundraising solicitations for other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations by other organization(s) . . . . . . . . . . . . . . . . . . . . . .
1l
 
No
m Sharing of facilities, equipment, mailing lists, or other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1m
Yes
 
n Sharing of paid employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Reimbursement paid to other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
 
No
p Reimbursement paid by other organization for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
 
No
q Other transfer of cash or property to other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
Yes
 
r Other transfer of cash or property from other organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
Yes
 
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of other organization 		(b)
Transaction
type(a-r) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) RESEARCH FOUNDATION OF CFA INSTITUTE

 M,N 583,000  
(2) RESEARCH FOUNDATION OF CFA INSTITUTE

 R 86,400  
(3)
(4)
(5)
(6)
Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership (Complete if the organization answered "Yes" on Form 990, Part IV, line 37.)
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Are all
partners
section
501(c)(3)
organizations? 		(e)
Share of
end-of-year
assets 		(f)
Disproprtionate allocations? 		(g)
Code V—UBI
amount in box
20 of Schedule K-1
(Form 1065) 		(h)
General or
managing
partner?
Yes No Yes No Yes No






























Schedule R (Form 990) 2010
Schedule R (Form 990) 2010
Page 5
Part VII
Supplemental Information
Complete this part to provide additional information for responses to questions on Schedule R (see instructions).
Identifier Return Reference Explanation
Additional Data


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