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
2012
Open to Public Inspection
A For the 2012 calendar year, or tax year beginning 09-01-2012 , 2012, and ending 08-31-2013
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
Suite
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 $ 413,603,942
F Name and address of principal officer:
DWIGHT D CHURCHILL
915 EAST HIGH STREET
CHARLOTTESVILLE,VA229022083
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 17
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 16
5 Total number of individuals employed in calendar year 2011 (Part V, line 2a) ...... 5 1,181
6 Total number of volunteers (estimate if necessary) ............. 6 1,800
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 648,440
b Net unrelated business taxable income from Form 990-T, line 34 ......... 7b 113,311
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 0 0
9 Program service revenue (Part VIII, line 2g) ......... 219,127,815 223,787,969
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 11,208,084 15,083,947
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 906,217 962,665
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 231,242,116 239,834,581
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 6,074,649 6,110,249
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) 72,945,409 79,472,360
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–24e).... 148,824,720 137,829,090
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 227,844,778 223,411,699
19 Revenue less expenses. Subtract line 18 from line 12....... 3,397,338 16,422,882
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 302,753,185 320,339,200
21 Total liabilities (Part X, line 26)............. 154,068,153 158,868,624
22 Net assets or fund balances. Subtract line 21 from line 20..... 148,685,032 161,470,576
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 Use Only
Print/Type preparer's name
 
Preparer's signature
Date
PTIN
Firm's name MediumBullet

Firm's EIN MediumBullet
Firm's address MediumBullet



Phone no.
May the IRS discuss this return with the preparer shown above? (see instructions) ............
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2012)
Form 990 (2012)
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), AND CLARITAS INVESTMENT CERTIFICATE CURRICULUM AND EXAMINATION PROGRAMS WORLDWIDE, PUBLISHES RESEARCH, CONDUCTS CERTIFICATE AND 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 120,785 AND WHO RESIDE IN 142 COUNTRIES. THIS MEMBERSHIP INCLUDES 110,096 CFA CHARTERHOLDERS. CFA INSTITUTE EXTENDS ITS REACH INTO LOCAL COMMUNITIES THROUGH A NETWORK OF 139 MEMBER SOCIETIES IN 60 COUNTRIES. CFA INSTITUTE IS HEADQUARTERED IN CHARLOTTESVI
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 organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations 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.
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 $ 0 including grants of $ 0 ) (Revenue $ 0 )
4e Total program service expensesMediumBullet0
Form 990 (2012)
Form 990 (2012)
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 (see instructions)? ...
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, or have a section 501(h) election in effect during the tax year? 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 for which 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 for escrow or custodial account liability; 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 temporarily restricted endowments, permanent endowments, 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, line 10?
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 VIIClick 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 VIIIClick 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 IXClick 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 XClick 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 XClick 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 and XII 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 and XII 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, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If “Yes,” complete Schedule F, Parts I and IV......... 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 United States? If “Yes,” complete Schedule F, Parts II and IVClick 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 United States? If “Yes,” complete Schedule F, Parts III and IV... 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 (see instructions)....
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
20a
Did the organization operate one or more hospital facilities? If “Yes,” complete Schedule H....
20a
 
No
b
If “Yes” to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
Form 990 (2012)
Form 990 (2012)
Page 4
Part IV
Checklist of Required Schedules (continued)
21
Did the organization report more than $5,000 of grants and other assistance to any government or organization 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, line 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 lines 24b through 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, highest 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 employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? 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 direct or indirect 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, Part II, III, or IV, and Part V, line 1........................ Click to see attachment
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, 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
35b
Yes
 
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 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2012)
Form 990 (2012)
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
431
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
1,181
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, securities account, or other financial account)?..........................
4a
Yes
 
b
If "Yes," enter the name of the foreign country: MediumBulletHK , MY , AR , UK , CH
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 as charitable contributions?...
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. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the 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 amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..
14b
 
 
Form 990 (2012)
Form 990 (2012)
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
17
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent ...................
1b
16
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
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
Yes
 
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
Yes
 
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
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
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If “Yes,” did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete 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 this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If “No,” go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this was done.......................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did 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 15a or 15b, 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
Yes
 
b
If “Yes,” did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
No
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 made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how), the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization:
MediumBulletTIM MCLAUGHLIN915 EAST HIGH STREETCHARLOTTESVILLEVA229022083 (434) 951-5499
Form 990 (2012)
Form 990 (2012)
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. 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 organization compensated any current officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(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) DANIEL S MEADER CFA........................................................................
IMMEDIATE PAST CHAIR
 1.0
.......................   		X   X            
(2) ALAN M MEDER CFA CPA........................................................................
CHAIRMAN OF THE BOARD
 1.0
.......................   		X   X            
(3) COLIN MCLEAN........................................................................
MEMBER, BOARD OF GOVERNORS
 1.0
.......................   		X                
(4) CHARLES J YANG CFA........................................................................
VICE CHAIRMAN OF THE BOARD
 1.0
.......................   		X   X            
(5) AARON LOW CFA........................................................................
MEMBER, BOARD OF GOVERNORS
 1.0
.......................   		X                
(6) ATTILA KOKSAL CFA........................................................................
MEMBER, BOARD OF GOVERNORS
 1.0
.......................   		X                
(7) BETH HAMILTON-KEEN CFA........................................................................
Ext Rel & Vol Inv Commit Chair
 1.0
.......................   		X                
(8) FREDERIC P LEBEL CFA........................................................................
MEMBER, BOARD OF GOVERNORS
 1.0
.......................   		X                
(9) GIUSEPPE BALLOCCHI CFA........................................................................
AUDIT & RISK COMMITTEE CHAIR
 1.0
.......................   		X                
(10) JAMES G JONES CFA........................................................................
PLANNING AND COMMITTEE CHAIR
 1.0
.......................   		X                
(11) JANE SHAO CFA........................................................................
MEMBER, BOARD OF GOVERNORS
 1.0
.......................   		X                
(12) JEFFREY D LORENZEN CFA........................................................................
MEMBER, BOARD OF GOVERNORS
 1.0
.......................   		X                
(13) MATTHEW H SCANLAN CFA........................................................................
MEMBER, BOARD OF GOVERNORS
 1.0
.......................   		X                
(14) MARK J LAZBERGER CFA........................................................................
MEMBER, BOARD OF GOVERNORS
 1.0
.......................   		X                
(15) ROGER URWIN........................................................................
MEMBER, BOARD OF GOVERNORS
 1.0
.......................   		X                
(16) SAEED M AL-HAJERI CFA........................................................................
MEMBER, BOARD OF GOVERNORS
 1.0
.......................   		X                
(17) JOHN ROGERS CFA........................................................................
PRESIDENT & CEO
 40.0
.......................1.0 		X   X       1,375,456 0 87,026
Form 990 (2012)
Form 990 (2012)
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 (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(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) JOSEPH P LANGE........................................................................
CORPORATE SECRETARY
 40.0
.......................   		    X       103,467   28,412
(19) TIMOTHY G MCLAUGHLIN CFA........................................................................
CHIEF FINANCIAL OFFICER
 40.0
.......................1.0 		    X       550,030 0 65,264
(20) ASHVIN P VIBHAKAR CFA........................................................................
MANAGING DIRECTOR
 40.0
.......................   		      X     905,071 0 64,696
(21) ELAINE CHENG........................................................................
MANAGING DIRECTOR
 40.0
.......................   		      X     360,091 0 63,435
(22) DONNA MARSHALL........................................................................
MANAGING DIRECTOR
 40.0
.......................   		      X     429,607 0 61,620
(23) JAN R SQUIRES CFA........................................................................
MANAGING DIRECTOR
 40.0
.......................   		      X     617,451 0 67,949
(24) CAROL J ANDERSON........................................................................
GENERAL COUNSEL
 40.0
.......................   		      X     480,731 0 67,363
(25) KURT N SCHACHT CFA........................................................................
MANAGING DIRECTOR
 40.0
.......................   		      X     588,034 0 72,196
(26) NITIN MEHTA CFA........................................................................
MANAGING DIRECTOR
 40.0
.......................   		      X     484,329 0 29,141
(27) RAYMOND J DEANGELO........................................................................
MANAGING DIRECTOR
 40.0
.......................   		      X     605,822 0 66,949
(28) THOMAS ROBINSON CFA........................................................................
MANAGING DIRECTOR
 40.0
.......................   		      X     620,049 0 67,295
(29) PETER B MACKEY CFA........................................................................
HEAD CFA EXAMINATIONS
 40.0
.......................   		        X   397,792 0 42,632
(30) SANDRA PETERS........................................................................
HEAD PROFESSIONAL EDUCATION
 40.0
.......................   		        X   386,999 0 42,283
(31) STEPHEN M HORAN CFA........................................................................
Head,Univ Rel & Private Wealth
 40.0
.......................   		        X   362,433 0 50,350
(32) JOHN BOWMAN........................................................................
HEAD, CLARITAS INVESTMENT CERT
 40.0
.......................   		        X   835,207 0 49,860
(33) FANNIE FANG EXITED 11113........................................................................
DIRECTOR OF GIPS
 40.0
.......................   		        X   447,476 0 31,417
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 9,550,045 0 957,888
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organizationMediumBullet125
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. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
AMERICAN EXPRESS TRAVEL RELATED SVS, 200 VESEY STREETNEW YORKNY10285 TRAVEL 12,169,455
PEARSON EDUCATION, PO BOX 409479ATLANTAGA30384 PUBLISHING 8,026,273
PBD INC, 1560 BLUEGRASS LAKES PKWYALPHARETTAGA30004 DISTRIBUTION 7,247,166
PROFESSIONAL EXAMINATION SERVICE, 475 RIVERSIDE DRIVENEW YORKNY10115 EXAM ADMINISTRATION 4,483,801
DOREMUS COMPANY, 200 VARICK STREETNEW YORKNY10014 MARKETING 4,269,949
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet219
Form 990 (2012)
Form 990 (2012)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response to any question in this Part VIII ..............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512, 513, or 514
Contributions, Gifts, Grants and Other Similar Amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and
similar amounts not included above1f 		 
g Noncash contributions included in lines
1a-1f:$ 		 
h Total. Add lines 1a-1f.......MediumBullet 0
Program Service Revenue Business Code
2a CANDIDATE FEES 900099 155,916,409 155,916,409    
b EDUCATIONAL PRODUCTS 611710 35,855,068 35,855,068    
c MEMBERSHIP DUES 900099 31,368,052 31,368,052    
d ADVERTISING 541800 648,440   648,440  
e
f All other program service revenue .        
g Total. Add lines 2a–2f........MediumBullet 223,787,969
Other Revenue 3 Investment income (including dividends, interest, and other similar amounts).......MediumBullet 7,492,485     7,492,485
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0      
5 Royalties...........MediumBullet 393,772     393,772
(i) Real (ii) Personal
6a Gross rents    
b Less: rental expenses    
c Rental income or (loss) 0 0
d Net rental income or (loss).......MediumBullet 0      
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 181,360,823  
b Less: cost or other basis and sales expenses 173,699,813 69,548
c Gain or (loss) 7,661,010 -69,548
d Net gain or (loss)..........MediumBullet 7,591,462     7,591,462
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    
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      
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      
Miscellaneous Revenue Business Code
11a SERVICE FEE REP. OFFICE 900099 173,168 173,168    
b MISCELLANEOUS 900099 91,120 91,120    
c MAILING LISTS 900099 304,605 304,605    
d All other revenue ....        
e Total. Add lines 11a–11d ...... MediumBullet 568,893
12 Total revenue. See Instructions......MediumBullet 239,834,581 223,708,422 648,440 15,477,719
Form 990 (2012)
Form 990 (2012)
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).Check if Schedule O contains a response to any question in this Part IX ...............
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 United States. See Part IV, line 21 3,184,271  
2 Grants and other assistance to individuals in the United States. See Part IV, line 22 0  
3 Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16 2,925,978 0
4 Benefits paid to or for members 0  
5 Compensation of current officers, directors, trustees, and key employees .... 7,976,944      
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 54,974,979      
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 5,681,824      
9 Other employee benefits ....... 6,930,168      
10 Payroll taxes ........... 3,908,445      
11 Fees for services (non-employees):        
a Management ...... 0      
b Legal ......... 2,539,647      
c Accounting ........... 1,164,654      
d Lobbying ........... 128,818      
e Professional fundraising services. See Part IV, line 17 0  
f Investment management fees ...... 0      
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ........ 2,531,581      
12 Advertising and promotion .... 16,327,787      
13 Office expenses ....... 19,668,430      
14 Information technology ...... 10,391,564      
15 Royalties .. 169,264      
16 Occupancy ........... 6,548,733      
17 Travel ............ 24,290,381      
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0      
19 Conferences, conventions, and meetings .... 4,916,417      
20 Interest ........... 0      
21 Payments to affiliates ....... 0      
22 Depreciation, depletion, and amortization ..... 6,182,806      
23 Insurance .............. 1,714,297      
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a EXAM ADMINISTRATION EXPENSES 27,043,956      
b PRODUCT MERCHANDISE COSTS 10,243,350      
c CONTRACT LABOR AND RECRUITMENT 2,226,047      
d STAFF TRAINING 1,052,437      
e All other expenses 688,921      
25 Total functional expenses. Add lines 1 through 24e 223,411,699 0 0 0
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2012)
Form 990 (2012)
Page 11
Part X Balance Sheet Check if Schedule O contains a response to any question in this Part X ...............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash—non-interest-bearing ............. 3,864,002 1 3,271,893
2 Savings and temporary cash investments ......... 35,342,563 2 38,050,527
3 Pledges and grants receivable, net ........... 0 3 0
4 Accounts receivable, net ............. 1,369,024 4 1,095,150
5 Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..................
0 5 0
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
0 6 0
7 Notes and loans receivable, net ............. 0 7 0
8 Inventories for sale or use .............. 4,339,120 8 3,295,769
9 Prepaid expenses and deferred charges .......... 10,297,405 9 10,526,066
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 25,451,285
b Less: accumulated depreciation ..... 10b 20,012,841 7,246,344 10c 5,438,444
11 Investments—publicly traded securities .......... 230,524,587 11 242,022,601
12 Investments—other securities. See Part IV, line 11 ..... 0 12 0
13 Investments—program-related. See Part IV, line 11 ..... 0 13 0
14 Intangible assets ............... 6,924,287 14 10,010,261
15 Other assets. See Part IV, line 11 ........... 2,845,853 15 6,628,489
16 Total assets. Add lines 1 through 15 (must equal line 34)...... 302,753,185 16 320,339,200
Liabilities 17 Accounts payable and accrued expenses ......... 27,618,113 17 27,443,914
18 Grants payable ................. 0 18 0
19 Deferred revenue ................ 124,217,027 19 128,926,177
20 Tax-exempt bond liabilities ............. 0 20 0
21 Escrow or custodial account liability. Complete Part IV of Schedule D.. 0 21 0
22 Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L.......... 0 22 0
23 Secured mortgages and notes payable to unrelated third parties .. 0 23 0
24 Unsecured notes and loans payable to unrelated third parties .... 0 24 0
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D.................... 2,233,013 25 2,498,533
26 Total liabilities. Add lines 17 through 25......... 154,068,153 26 158,868,624
Net Assets or Fund Balance Organizations that follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets .............. 148,685,032 27 161,470,576
28 Temporarily restricted net assets ........... 0 28 0
29 Permanently restricted net assets ........... 0 29 0
Organizations that do not follow SFAS 117 (ASC 958), 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 ........... 148,685,032 33 161,470,576
34 Total liabilities and net assets/fund balances ........ 302,753,185 34 320,339,200
Form 990 (2012)
Form 990 (2012)
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
239,834,581
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
223,411,699
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
16,422,882
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..
4
148,685,032
5
Net unrealized gains (losses) on investments ...............
5
-3,637,338
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
 
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, column (B))
10
161,470,576
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
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If “Yes,” to line 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?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
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 (2012)
Form 990, Special Condition Description:
Special Condition Description
Additional Data


Software ID:  
Software Version:  
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
2012
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 35c (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 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 function 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 Paperwork Reduction Act Notice, see the instructions for Form 990 or 990-EZ.
Cat. No. 50084S
Schedule C (Form 990 or 990-EZ) 2012

Schedule C (Form 990 or 990-EZ) 2012
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 SchCMd Bulletexpenses, and share of excess lobbying expenditures).
B Check SchCMd Bullet
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) 2009 (b) 2010 (c) 2011 (d) 2012 (e) Total
             
2a Lobbying nontaxable amount          
             
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		         
             
c Total lobbying expenditures          
             
d Grassroots nontaxable amount          
             
e Grassroots ceiling amount
(150% of line 2d, column (e))		          
             
f Grassroots lobbying expenditures          
Schedule C (Form 990 or 990-EZ) 2012


Schedule C (Form 990 or 990-EZ) 2012
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)).
For each “Yes” response to lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
No
Yes
(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? ..........................
 
 
 
j
Total. Add 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 carry over 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) and if either (a) BOTH Part III-A, lines 1 and 2, are answered “No” OR (b) Part III-A, line 3, is answered “Yes."
1
Dues, assessments and similar amounts from members .....................
1
31,368,052
2
Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political
expenses for which the section 527(f) tax was paid).
a
Current year .........................................
2a
128,818
b
Carryover from last year ....................................
2b
 
c
Total ............................................
2c
128,818
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
128,818
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; Part II-A (affiliated group list); Part II-A, line 2; and Part ll-B, line 1. Also, complete this part for any additional information.
Identifier Return Reference Explanation
Schedule C (Form 990 or 990EZ) 2012

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, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions.
OMB No. 1545-0047
2012
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 can 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 through 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, and not on a historic structure listed in the National Register .................... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax 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 section 170(h)(4)(B)(ii)? .......................................
9
In Part XIII, 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 (ASC 958), 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 XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116 (ASC 958), 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 (ASC 958) 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 Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2012

Schedule D (Form 990) 2012
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, 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 XIII.
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 XIII 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 XIII. Check here if the explanation has been provided in Part XIII ........
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current year (b)Prior year b (c)Two years back (d)Three years back (e)Four years back
1a Beginning of year balance ....          
b Contributions ........          
c Net investment earnings, gains, and 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 current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet  
b
Permanent endowment SchDMd Bullet  
c
Temporarily restricted endowment SchDMd Bullet  
The percentages in lines 2a, 2b, and 2c should equal 100%.
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 XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment. See Form 990, Part X, line 10.
Description of property (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 ............   8,089,348 6,388,540 1,700,808
d Equipment ................   17,361,937 13,624,301 3,737,636
e Other .................   0   0
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......SchDMdBullet 5,438,444
Schedule D (Form 990) 2012

Schedule D (Form 990) 2012
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) must 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) must 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) must 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) Book value
Federal income taxes 0
DEFERRED RENT 710,997
DEFERRED COMPENSATION 1,783,443
DUE TO AFFILIATE 4,093






Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 2,498,533
2. Fin 48 (ASC 740) Footnote. In Part XIII, 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 (ASC 740). Check here if the text of the footnote has been provided in Part XIII .....................................................
Schedule D (Form 990) 2012

Schedule D (Form 990) 2012
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1 Total revenue, gains, and other support per audited financial statements ....... 1 236,266,791
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a -3,637,338
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d ..................... 2e -3,637,338
3 Subtract line 2e from line 1..................... 3 239,904,129
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 XIII.) ........... 4b -69,548
c Add lines 4a and 4b....................... 4c -69,548
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 239,834,581
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1 Total expenses and losses per audited financial statements ........... 1 223,481,247
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 XIII.) ............ 2d 69,548
e Add lines 2a through 2d...................... 2e 69,548
3 Subtract line 2e from line 1..................... 3 223,411,699
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 XIII.) ............ 4b  
c Add lines 4a and 4b....................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 223,411,699
Part XIII
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, line 2; Part XI, lines 2d and 4b; and Part XII, 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 UNDER THE INCOME TAXES TOPIC OF THE FASB ASC AND HAS NO UNCERTAIN TAX POSITIONS.
SCHEDULE D, PART XI, LINE 4B   LOSS ON DISPOSAL OF ASSETS ($69,548)
SCHEDULE D, PART XII, LINE 2D   LOSS ON DISPOSAL OF ASSETS $69,548
Schedule D (Form 990) 2012

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
2012
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. (The following Part I, line 3 table can be duplicated if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in region (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 and investments
in region
Central America and the Caribbean     Program Services MEMBER & EXAM SUPPORT 55,721
Europe (Including Iceland and Greenland) 2 39 Program Services MEMBER & EXAM SUPPORT 7,910,829
Sub-Saharan Africa     Program Services MEMBER & EXAM SUPPORT 165,013
Middle East and North Africa     Grantmaking N/A 115,854
South Asia     Grantmaking N/A 252,825
Central America and the Caribbean     Grantmaking N/A 73,343
East Asia and the Pacific     Grantmaking N/A 615,112
Europe (Including Iceland and Greenland)     Grantmaking N/A 842,367
Sub-Saharan Africa     Grantmaking N/A 55,453
North America     Grantmaking N/A 516,852
Russia and the Newly Independent States     Grantmaking N/A 361,331
South America     Grantmaking N/A 92,840
East Asia and the Pacific 4 46 Program Services MEMBER & EXAM SUPPORT 13,877,646
Middle East and North Africa     Program Services MEMBER & EXAM SUPPORT 19,174,471
North America     Program Services MEMBER & EXAM SUPPORT 705,123
Russia and the Newly Independent States     Program Services MEMBER & EXAM SUPPORT 37,404
South Asia     Program Services MEMBER & EXAM SUPPORT 1,077,129
South America     Program Services MEMBER & EXAM SUPPORT 576,778
3a Sub-total ..... 6 85 45,929,313
b Total from continuation sheets to Part I ...     576,778
c Totals (add lines 3a and 3b) 6 85 46,506,091
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2012
Schedule F (Form 990) 2012
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. Part II can be duplicated 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)
Central America and the Caribbean GEN SUPPORT 11,307 WIRE/CHECK   N/A N/A
Central America and the Caribbean GEN SUPPORT 11,689 WIRE/CHECK   N/A N/A
Central America and the Caribbean GEN SUPPORT 20,897 WIRE/CHECK   N/A N/A
Central America and the Caribbean GEN SUPPORT 12,070 WIRE/CHECK   N/A N/A
Central America and the Caribbean GEN SUPPORT 17,182 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 15,241 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 37,954 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 22,436 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 16,289 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 106,449 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 17,727 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 53,213 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 139,058 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 16,000 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 64,909 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 21,758 WIRE/CHECK   N/A N/A
East Asia and the Pacific GEN SUPPORT 71,589 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 17,550 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 15,241 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 18,666 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 15,564 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 47,330 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 12,262 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 17,600 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 21,786 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 32,562 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 11,908 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 25,022 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 181,541 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 14,742 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 12,751 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 29,683 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 16,094 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 27,652 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 13,892 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 24,258 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 146,989 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 192,225 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 16,451 WIRE/CHECK   N/A N/A
Middle East and North Africa GEN SUPPORT 20,651 WIRE/CHECK   N/A N/A
Middle East and North Africa GEN SUPPORT 9,745 WIRE/CHECK   N/A N/A
Middle East and North Africa GEN SUPPORT 11,389 WIRE/CHECK   N/A N/A
Middle East and North Africa GEN SUPPORT 12,615 WIRE/CHECK   N/A N/A
Middle East and North Africa GEN SUPPORT 12,745 WIRE/CHECK   N/A N/A
Middle East and North Africa GEN SUPPORT 21,548 WIRE/CHECK   N/A N/A
Middle East and North Africa GEN SUPPORT 13,884 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 15,457 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 40,572 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 16,366 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 22,144 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 15,334 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 13,978 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 42,038 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 13,832 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 16,608 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 69,782 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 12,426 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 12,507 WIRE/CHECK   N/A N/A
North America GEN SUPPORT 239,757 WIRE/CHECK   N/A N/A
Russia and the Newly Independent States GEN SUPPORT 227,678 WIRE/CHECK   N/A N/A
Russia and the Newly Independent States GEN SUPPORT 64,798 WIRE/CHECK   N/A N/A
South America GEN SUPPORT 17,566 WIRE/CHECK   N/A N/A
South America GEN SUPPORT 75,274 WIRE/CHECK   N/A N/A
South Asia GEN SUPPORT 20,971 WIRE/CHECK   N/A N/A
South Asia GEN SUPPORT 33,890 WIRE/CHECK   N/A N/A
South Asia GEN SUPPORT 125,000 WIRE/CHECK   N/A N/A
South Asia GEN SUPPORT 68,579 WIRE/CHECK   N/A N/A
Sub-Saharan Africa GEN SUPPORT 32,854 WIRE/CHECK   N/A N/A
Sub-Saharan Africa GEN SUPPORT 11,292 WIRE/CHECK   N/A N/A
Sub-Saharan Africa GEN SUPPORT 11,307 WIRE/CHECK   N/A N/A
Europe (Including Iceland and Greenland) GEN SUPPORT 19,025 WIRE/CHECK   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
 
3
Enter total number of other organizations or entities .......................MediumBullet
71
Schedule F (Form 990) 2012
Schedule F (Form 990) 2012Page 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.
Part III can be duplicated 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) 2012
Schedule F (Form 990) 2012
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, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926)......................................
2 Did the organization have an interest in a foreign trust during the tax year? If “Yes,” the organizationmay be required to file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (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) 2012
Schedule F (Form 990) 2012
Page 5
Part V
Supplemental Information
Complete this part to provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions).
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 DETAILED BUSINESS PLANS AND BUDGETS.
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
     
Schedule F (Form 990) 2012
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
2012
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. Part II can be duplicated if additional space is needed.
(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) Smithsonian Institution
1000 JEFFERSON DR SW
WASHINGTON,DC20560 		53-0206027   20,000   N/A N/A GEN SUPPORT
(2) Tuscon Society of CFA Institute
1820 E RIVER RD STE 106
TUCSON,AZ85718 		27-0863018   11,929   N/A N/A GEN SUPPORT
(3) CFA Society of Mississippi
525 EAST CAPITAL STREET
JACKSON,MS39201 		64-0716591   12,008   N/A N/A GEN SUPPORT
(4) Dayton CFA Society
910 WEST MAIN STREET
TROY,OH45373 		26-0659612   12,037   N/A N/A GEN SUPPORT
(5) CFA SOCIETY OF SOUTH CAROLINA
1201 MAIN ST STE 1910
COLUMBIA,SC29201 		57-1134283   12,371   N/A N/A GEN SUPPORT
(6) CFA Society of New Mexico
PO BOX 36947
ALBUQUERQUE,NM87176 		85-0454738   12,479   N/A N/A GEN SUPPORT
(7) CFA Society of Arkansas
401 W CAPITOL AVE STE 503
LITTLE ROCK,AR72201 		58-2055805   12,530   N/A N/A GEN SUPPORT
(8) Maine CFA Society
DPC
ORONO,ME04469 		04-3547791   13,128   N/A N/A GEN SUPPORT
(9) CFA Society of East Tennessee
1301 COWART STREET SUITE 131
CHATTANOOGA,TN37402 		04-2103580   13,031   N/A N/A GEN SUPPORT
(10) CFA Society of Idaho
1020 W MAIN ST STE 480
BOISE,ID83702 		04-3704521   11,928   N/A N/A GEN SUPPORT
(11) CFA Society of Buffalo Inc
PO BOX 529 ELLICOTT STATION
BUFFALO,NY14205 		20-5170662   12,803   N/A N/A GEN SUPPORT
(12) CFA Society of Louisiana
1010 COMMON ST STE 2100
NEW ORLEANS,LA70112 		72-0947195   15,156   N/A N/A GEN SUPPORT
(13) The Providence Society of Financial Analysts
100 AMICA WAY INVESTMENTS DPT
LINCOLN,RI02865 		23-7069442   13,880   N/A N/A GEN SUPPORT
(14) CFA Society of Oklahoma
PO BOX 13006
OKLAHOMA CITY,OK73113 		20-3779358   14,554   N/A N/A GEN SUPPORT
(15) CFA Society of Orlando
2290 LUCIEN WAY STE 260
MAITLAND,FL32751 		59-3213363   14,648   N/A N/A GEN SUPPORT
(16) CFA Society of Jacksonville
1579 THE GREENS WAY STE 20
JACKSONVILLE BEACH,FL32250 		59-1606008   14,574   N/A N/A GEN SUPPORT
(17) CFA Society of Sacramento
915 L STREET C252
SACRAMENTO,CA95814 		94-3315268   15,920   N/A N/A GEN SUPPORT
(18) CFA Society of San Antonio
12526 LA AVENTURA ST
SAN ANTONIO,TX78233 		74-1660459   15,971   N/A N/A GEN SUPPORT
(19) CFA Society of Nebraska Inc
PO BOX 80685
LINCOLN,NE68501 		47-0667513   16,348   N/A N/A GEN SUPPORT
(20) CFA Miami Inc
PO BOX 960901
MIAMI,FL33296 		61-1572381   31,251   N/A N/A GEN SUPPORT
(21) CFA Society of Nevada
2251 S FT Apadie Rd
LAS VEGAS,NV89117 		20-0195946   12,230   N/A N/A GEN SUPPORT
(22) CFA SOCIETY OF SPOKANE
111 N WALL STREET
SPOKANE,WA99201 		91-1592696   13,127   N/A N/A GEN SUPPORT
(23) CFA Society of Indianapolis Inc
PO BOX 1225
CARMEL,IN46082 		23-7119206   17,543   N/A N/A GEN SUPPORT
(24) CFA West Michigan Society
40 PEARL ST NW STE 300
GRAND RAPIDS,MI49503 		38-0892650   13,263   N/A N/A GEN SUPPORT
(25) CFA Society of Naples
600 5TH AVE S SUITE 210
NAPLES,FL34102 		59-3405436   14,462   N/A N/A GEN SUPPORT
(26) CFA Society of Salt Lake
PO BOX 45490 MAC U1228-058
SALT LAKE CITY,UT84145 		61-1526448   14,587   N/A N/A GEN SUPPORT
(27) CFA Society of Alabama
2712 18TH PLACE SOUTH
BIRMINGTON,AL35209 		63-1064381   15,162   N/A N/A GEN SUPPORT
(28) CFA Hawaii
PO BOX 580
HONOLULU,HI96809 		87-0753677   12,300   N/A N/A GEN SUPPORT
(29) CFA Society of Nashville
3000 VANDERBILT PL 441
NASHVILLE,TN37212 		62-1181717   15,263   N/A N/A GEN SUPPORT
(30) CFA Society of Rochester
777 CANAL VIEW BLVD STE 200
ROCHESTER,NY14623 		16-0977751   14,711   N/A N/A GEN SUPPORT
(31) CFA Society of Madison
3500 UNIVERSITY AVE
MADISON,WI53705 		39-1929703   15,841   N/A N/A GEN SUPPORT
(32) CFA Society of Memphis
1153 GRAND CYPRESS CV
COLLIERVILLE,TN38017 		62-1636928   15,922   N/A N/A GEN SUPPORT
(33) Phoenix CFA Society
16435 N SCOTTSDALE RD STE 105
SCOTTSDALE,AZ85254 		86-0469879   21,692   N/A N/A GEN SUPPORT
(34) CFA Society of South Florida
1261 SW 15TH ST
BOCA RATON,FL33486 		30-0325375   21,786   N/A N/A GEN SUPPORT
(35) CFA Society of Louisville
10202 SUMMIT PARK PLACE 302
LOUISVILLE,KY40241 		61-1333979   17,682   N/A N/A GEN SUPPORT
(36) CFA Society of Columbus
1066 HARRISON PARK PL
COLUMBUS,OH43201 		31-1393658   22,429   N/A N/A GEN SUPPORT
(37) Vermont CFA Society
110 MAIN STREET
BURLINGTON,VT05401 		04-3374500   13,128   N/A N/A GEN SUPPORT
(38) Stamford CFA Society
1127 HIGH RIDGE ROAD 307
STAMFORD,CT06905 		06-1513527   24,580   N/A N/A GEN SUPPORT
(39) CFA Society of Austin
PO BOX 1467
AUSTIN,TX78767 		72-1621543   26,886   N/A N/A GEN SUPPORT
(40) CFA Tampa Bay
12157 W LINEBAUGH AVE PMB 312
TAMPA,FL33626 		51-0669210   21,764   N/A N/A GEN SUPPORT
(41) Baltimore CFA Society Inc
100 LIGHT ST FL 9
BALTIMORE,MD21202 		52-0895933   27,746   N/A N/A GEN SUPPORT
(42) CFA Society of Portland
PO BOX 1388
PORTLAND,OR97207 		23-7358083   21,843   N/A N/A GEN SUPPORT
(43) CFA Society of Cincinnati Inc
4010 EXECUTIVE PARK DRIVE STE 100
CINCINNATI,OH45241 		23-7094427   22,144   N/A N/A GEN SUPPORT
(44) CFA Society of San Diego
PO BOX 928456
SAN DIEGO,CA92192 		23-7069278   27,965   N/A N/A GEN SUPPORT
(45) CFA Society of Orange County
4533 MACARTHUR BOULEVARD 182
NEWPORT BEACH,CA92660 		33-0228558   21,643   N/A N/A GEN SUPPORT
(46) The Pittsburgh Society of Financial Analysts
PO BOX 1212
PITTSBURGH,PA15230 		25-1421153   22,307   N/A N/A GEN SUPPORT
(47) Kansas City CFA Society
PO BOX 26285
OVERLAND PARK,KS66225 		82-0560661   22,739   N/A N/A GEN SUPPORT
(48) CFA Society of Cleveland
24199 LYMAN BLVD
SHAKER HEIGHTS,OH44122 		23-7065462   33,365   N/A N/A GEN SUPPORT
(49) CFA Society of Milwaukee Inc
1702 ASHLAWN LN
WAUNAKEE,WI53597 		23-7072850   26,402   N/A N/A GEN SUPPORT
(50) The Hartford CFA Society
17 CRANBERRY LANE PO BOX 266
GRANBY,CT06035 		06-0964607   31,315   N/A N/A GEN SUPPORT
(51) CFA Society of Iowa Inc
1004 SE COOPER CT
ANKENY,IA50021 		42-1152989   22,060   N/A N/A GEN SUPPORT
(52) CFA Virginia
PO BOX 2732
MECHANICSVILLE,VA23116 		54-1429832   33,249   N/A N/A GEN SUPPORT
(53) CFA Society of Colorado
6057 S LAKEVIEW ST
LITTLETON,CO80102 		84-0585027   34,826   N/A N/A GEN SUPPORT
(54) CFA North Carolina Society
3004 OXBOW CT
RALEIGH,NC27613 		56-1824044   34,754   N/A N/A GEN SUPPORT
(55) CFA Society of Seattle
330 MADISON AVE S 203
BAINBRIDGE ISLAND,WA98110 		91-1164972   33,839   N/A N/A GEN SUPPORT
(56) CFA Society of St Louis
330 WENNEKER DRIVE
SAINT LOUIS,MO63124 		43-6031785   37,150   N/A N/A GEN SUPPORT
(57) CFA Society of DallasFort Worth
400 N SAINT PAUL STE 715
DALLAS,TX75201 		23-7078748   40,272   N/A N/A GEN SUPPORT
(58) CFA Society of Houston
PO BOX 32
BELLAIRE,TX77402 		23-7004744   43,635   N/A N/A GEN SUPPORT
(59) CFA Society of Detroit
525 E MICHIGAN AVE 409
SALINE,MI48176 		38-6087152   32,307   N/A N/A GEN SUPPORT
(60) CFA Society of Atlanta
3227 S CHEROKEE LANE SUITE 1320
WOODSTOCK,GA30188 		58-1105110   44,215   N/A N/A GEN SUPPORT
(61) CFA Society of Los Angeles
520 S GRAND AVE STE 370
LOS ANGELES,CA90071 		95-6069970   76,228   N/A N/A GEN SUPPORT
(62) CFA Society of Minnesota
527 MARQUETTE AVE STE 1300
MINNEAPOLIS,MN55402 		41-1861989   40,739   N/A N/A GEN SUPPORT
(63) CFA Society of Philadelphia The
100 NORTH 20TH STREET 4TH FLOOR
PHILADELPHIA,PA19103 		23-6395738   77,127   N/A N/A GEN SUPPORT
(64) CFA Society of Washington DC
1250 CONNECTICUT AVENUE NW SUITE 20
WASHINGTON,DC20036 		23-7360649   52,829   N/A N/A GEN SUPPORT
(65) CFA Society of San Francisco
300 MONTGOMERY ST STE 1130
SAN FRANCISCO,CA94104 		94-6078576   159,133   N/A N/A GEN SUPPORT
(66) Boston Security Analysts Society Inc
2 FINANCIAL CENTER 1010 60 S ST
BOSTON,MA02111 		23-7069432   114,778   N/A N/A GEN SUPPORT
(67) CFA Society of Chicago
134 N LA SALLE ST STE 1740
CHICAGO,IL60602 		36-2595074   96,743   N/A N/A GEN SUPPORT
(68) New York Society of Security Analysts
1540 BROADWAY SUITE 1010
NEW YORK,NY10036 		13-5610350 501(c)(3) 442,200   N/A N/A GEN SUPPORT
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................ Bullet Image
1
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
67
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2012

Schedule I (Form 990) 2012
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.
Part III can be duplicated 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, Part III, column (b), 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 DETAILED BUSINESS PLANS AND BUDGETS.
Schedule I (Form 990) 2012


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
2012
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 or provision of all of 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 filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
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
 
No
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 Regulations 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 Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2012

Schedule J (Form 990) 2012
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is 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) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (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 as deferred
in prior Form 990
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1)JOHN ROGERS CFAPRESIDENT & CEO (i)
(ii)		 593,306
0 		778,264
0 		3,886
0 		70,000
0 		17,026
0 		1,462,482
0 		40,000
0
(2)TIMOTHY G MCLAUGHLIN CFACHIEF FINANCIAL OFFICER (i)
(ii)		 327,628
0 		217,113
0 		5,289
0 		52,316
0 		12,948
0 		615,294
0 		22,316
0
(3)ASHVIN P VIBHAKAR CFAMANAGING DIRECTOR (i)
(ii)		 326,192
0 		199,875
0 		379,004
0 		51,974
0 		12,722
0 		969,767
0 		21,974
0
(4)ELAINE CHENGMANAGING DIRECTOR (i)
(ii)		 246,376
0 		112,000
0 		1,715
0 		46,666
0 		16,769
0 		423,526
0 		23,311
0
(5)DONNA MARSHALLMANAGING DIRECTOR (i)
(ii)		 263,128
0 		162,652
0 		3,827
0 		49,000
0 		12,620
0 		491,227
0 		17,000
0
(6)JAN R SQUIRES CFAMANAGING DIRECTOR (i)
(ii)		 363,678
0 		245,791
0 		7,982
0 		54,720
0 		13,229
0 		685,400
0 		24,720
0
(7)CAROL J ANDERSONGENERAL COUNSEL (i)
(ii)		 303,856
0 		174,739
0 		2,136
0 		50,666
0 		16,697
0 		548,094
0 		20,666
0
(8)KURT N SCHACHT CFAMANAGING DIRECTOR (i)
(ii)		 367,776
0 		212,011
0 		8,247
0 		54,720
0 		17,476
0 		660,230
0 		24,720
0
(9)NITIN MEHTA CFAMANAGING DIRECTOR (i)
(ii)		 318,483
0 		159,043
0 		6,803
0 		21,636
0 		7,505
0 		513,470
0 		18,818
0
(10)RAYMOND J DEANGELOMANAGING DIRECTOR (i)
(ii)		 365,128
0 		228,161
0 		12,533
0 		54,720
0 		12,229
0 		672,771
0 		24,720
0
(11)THOMAS ROBINSON CFAMANAGING DIRECTOR (i)
(ii)		 363,592
0 		231,053
0 		25,404
0 		54,666
0 		12,629
0 		687,344
0 		24,666
0
(12)PETER B MACKEY CFAHEAD CFA EXAMINATIONS (i)
(ii)		 302,342
0 		88,878
0 		6,572
0 		30,000
0 		12,632
0 		440,424
0 		0
0
(13)SANDRA PETERSHEAD PROFESSIONAL EDUCATION (i)
(ii)		 288,142
0 		95,812
0 		3,045
0 		30,000
0 		12,283
0 		429,282
0 		0
0
(14)STEPHEN M HORAN CFAHead,Univ Rel & Private Wealth (i)
(ii)		 277,739
0 		81,757
0 		2,937
0 		33,750
0 		16,600
0 		412,783
0 		0
0
(15)JOHN BOWMANHEAD, CLARITAS INVESTMENT CERT (i)
(ii)		 252,340
0 		83,907
0 		498,960
0 		33,438
0 		16,422
0 		885,067
0 		 
0
(16)FANNIE FANG EXITED 11113DIRECTOR OF GIPS (i)
(ii)		 191,701
0 		22,872
0 		232,903
0 		25,474
0 		5,943
0 		478,893
0 		 
0
Schedule J (Form 990) 2012

Schedule J (Form 990) 2012
Page 3
Part III
Supplemental Information
Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
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 3,000 MILES, ONE SEGMENT, ONE WAY. 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.
Schedule J (Form 990) 2012

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
2012
Open to Public
Inspection
Name of the organization
CFA INSTITUTE
 
Employer identification number

54-1386480
Identifier Return Reference Explanation
PART III, LINE 4D, OTHER PROGRAM SERVICES   CFA INSTITUTE ALSO ADMINISTERS ADDITIONAL PROGRAMS AND ACTIVITIES AS PART OF ITS SERVICE TO MEMBERS AND TO THE GLOBAL INVESTMENT INDUSTRY. FORMAL PROGRAMS INCLUDE THE CFA PROGRAM DESCRIBED ABOVE, THE CERTIFICATE IN INVESTMENT PERFORMANCE MEASUREMENT (CIPM) PROGRAM FOR PERFORMANCE EVALUATION PROFESSIONALS, AND THE CLARITAS INVESTMENT CERTIFICATE FOR PARTICIPANTS LOOKING TO UNDERSTAND THE FUNDAMENTALS OF THE INVESTMENT INDUSTRY. ADDITIONAL SERVICES INCLUDE CAREER DEVELOPMENT AND OTHER NETWORKING SERVICES DESIGNED TO FACILITATE DISCUSSION AND PROMOTE CAMARADERIE AMONG MEMBERS.
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 IS PRESENTED TO THE AUDIT AND RISK COMMITTEE AND DISCUSSED IN DETAIL. IN ADDITION, COPIES ARE PROVIDED TO EACH OF THE BOARD OF GOVERNORS. THESE PRESENTATIONS 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 LEGAL SERVICES GROUP, 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 LEGAL SERVICES GROUP. 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 COMPENSATION COMMITTEE OF THE BOARD OF GOVERNORS WHICH IS COMPRISED OF INDEPENDENT GOVERNORS.
PART VI, LINE 16B   A WRITTEN POLICY IS BEING FORMULATED, PENDING APPROVAL, AS OF THE FILING OF THIS RETURN.
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 III, LINE 2   CFA INSTITUTE CREATED THE CLARITAS INVESTMENT CERTIFICATE EXAMINATION, DESIGNED TO BROADEN THE REACH OF OUR EDUCATIONAL PROGRAMS AND ETHICAL AND PROFESSIONAL STANDARDS.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2012

Additional Data


Software ID:  
Software Version:  
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
2012
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" to Form 990, Part IV, line 33.)
(a)
Name, address, and EIN (if applicable) 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 -120,810 199,067 CFA INSTITUT
 










Part II
Identification of Related Tax-Exempt Organizations (Complete if the organization answered "Yes" to 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 entity?
Yes No
(1) CFA INSTITUTE RESEARCH FOUNDATION

PO BOX 2083

CHARLOTTESVILLE,VA22902
54-6063408 		INV. RESEARCH VA 501(C) 3 7 CFA INSTITUT
 
Yes
 












For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2012
Schedule R (Form 990) 2012
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership (Complete if the organization answered "Yes" to 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
(1) CVILLE OPER HUB LLC

PO BOX 2083
CHARLOTT,VA22902
90-0857224 		R/E LEASING VA COH INC
  		                 
(2) CVILLE MASTER TENANT LLC

PO BOX 2083
CHARLOTT,VA22902
80-0825436 		R/E LEASING VA COH INC
  		                 










Part IV
Identification of Related Organizations Taxable as a Corporation or Trust (Complete if the organization answered "Yes" to 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
 		(i)
Section 512(b)(13) controlled entity?
Yes No
(1) CVILLE OPERATIONS HOLDINGS INC

PO BOX 2083
CHARLOTTESVILLE,VA22902
45-5449709 		REAL ESTATE VA CFA INSTITUTE
  		C CORP. -856 2,275,991 100.000 % Yes  












Schedule R (Form 990) 2012
Schedule R (Form 990) 2012
Page 3
Part V
Transactions With Related Organizations (Complete if the organization answered "Yes" to Form 990, Part IV, line 34, 35b, or 36.)
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
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 or (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
 
No
b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
Yes
 
c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
 
No
d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
 
No
e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Dividends from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
No
g Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .
1l
 
No
m Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .
1m
 
No
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
Yes
 
p Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
 
No
q Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
 
No
r Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
Yes
 
s Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1s
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-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) CFA INSTITUTE RESEARCH FOUNDATION

 N,O 756,000 HISTORICAL COST
(2) CFA INSTITUTE RESEARCH FOUNDATION

 S 119,282 HISTORICAL COST




Schedule R (Form 990) 2012
Schedule R (Form 990) 2012
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership (Complete if the organization answered "Yes" to 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)
Predominant income (related, unrelated, excluded from tax under section 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(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 Yes No






























Schedule R (Form 990) 2012
Schedule R (Form 990) 2012
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


Software ID:  
Software Version: