2021-07-12T09:22:02-05:00 2020-08-31 KPMG LLP 8350 Broad Street Suite 900 McLean VA 22102 990 2019-09-01 541386480 CFA Institute % ALLISON HOLMES CFAI 4349515499 PO BOX 2083 CHARLOTTESVILLE VA 229022083 MARG FRANKLIN PRESIDENT & CEO 4349515499 2021-07-08 true JG White P01498698 7032868000 2021-06-22 2019 2022-09-23 18:48:47Z MARG FRANKLIN 915 EAST HIGH STREET CHARLOTTESVILLE VA 229022083 253431418 false X WWW.CFAINSTITUTE.ORG X 1986 VA TO LEAD THE INVESTMENT PROFESSION GLOBALLY BY PROMOTING THE HIGHEST STANDARDS OF ETHICS, EDUCATION, AND PROFESSIONAL EXCELLENCE FOR THE ULTIMATE BENEFIT OF SOCIETY. 15 14 626 6753 0 0 0 0 386449309 164819596 28643052 18781619 1364629 1375578 416456990 184976793 21457455 20742295 0 0 99712197 107195648 0 0 0 244367599 176202154 365537251 304140097 50919739 -119163304 630127929 709843889 266090488 447817461 364037441 262026428 X CFA INSTITUTE IS THE GLOBAL, NON-PROFIT PROFESSIONAL MEMBERSHIP ASSOCIATION THAT ADMINISTERS THE CHARTERED FINANCIAL ANALYST (CFA) CERTIFICATE AND MORE. SEE SCHEDULE O. false false THE CHARTERED FINANCIAL ANALYST (CFA) PROGRAM: THE ORGANIZATION ADMINISTERS THE WORLD-RENOWNED CFA PROGRAM, A THREE-LEVEL, EDUCATION AND EXAMINATION PROGRAM COVERING TOPICS ESSENTIAL TO THE INVESTMENT DECISION-MAKING PROCESS. PROGRAM TOPICS FORM THE CANDIDATE BODY OF KNOWLEDGE AND INCLUDE ETHICAL AND PROFESSIONAL STANDARDS, QUANTITATIVE METHODS, ECONOMICS, FINANCIAL STATEMENT REPORTING AND ANALYSIS, CORPORATE FINANCE, EQUITY AND FIXED-INCOME ANALYSIS, ALTERNATIVE INVESTMENTS, DERIVATIVES, PORTFOLIO MANAGEMENT, AND WEALTH PLANNING. PROFESSIONAL DEVELOPMENT MEMBER SERVICES: THE ORGANIZATION PROMOTES LIFELONG LEARNING BY SPONSORING AND DISSEMINATING A VARIETY OF EDUCATIONAL CONTENT TO INVESTMENT PROFESSIONALS ON TOPICS RELEVANT TO THE PROFESSION. IT ALSO PROVIDES CAREER DEVELOPMENT RESOURCES, CREATES AFFILIATION AND NETWORKING OPPORTUNITIES, AND PROMOTES AWARENESS AND RECOGNITION OF MEMBER CREDENTIALS TO THE INDUSTRY AND INVESTING PUBLIC. STANDARDS ADVOCACY, AND THOUGHT LEADERSHIP: THE ORGANIZATION IS A LEADING VOICE ON ISSUES OF FAIRNESS, EFFICIENCY, AND INVESTOR PROTECTION IN GLOBAL CAPITAL MARKETS AND PROMOTES HIGH STANDARDS OF ETHICS, INTEGRITY, AND PROFESSIONAL EXCELLENCE WITHIN THE INVESTMENT COMMUNITY. THE ORGANIZATION ALSO PROMOTES AND ENFORCES THE CFA INSTITUTE CODE OF ETHICS AND STANDARDS OF PROFESSIONAL CONDUCT. ALL MEMBERS OF THE ORGANIZATION AND CANDIDATES IN THE CFA PROGRAM ARE REQUIRED TO ADHERE TO THIS CODE. false false false true false false false false false true false false false true true false true false true true true false false false false false true false true false false false false false false false false false false true true true true false true X 503 0 true 626 true true true true HK CH IN UK SN AE false false false false true false X 15 14 false false false false true true true true true false false true true true true true true true true false X ALLISON HOLMES 4349515499 915 EAST HIGH STREET CHARLOTTESVILLE VA 229022083 X PAUL SMITH CFA THRU 82019 FORMER PRESIDENT & CEO 40.0 0.0 X 1734363 0 172356 KURT N SCHACHT CFA MANAGING DIRECTOR 40.0 0.0 X 624831 0 55683 NICK POLLARD MANAGING DIRECTOR 40.0 0.0 X 517539 0 82743 GARY BAKER MANAGING DIRECTOR 40.0 0.0 X 518718 0 39277 STEPHEN M HORAN CFA MANAGING DIRECTOR 40.0 0.0 X 490897 0 56082 MICHAEL COLLINS MANAGING DIRECTOR 40.0 0.0 X 480256 0 55786 CHRIS AINSWORTH MANAGING DIRECTOR 40.0 0.0 X 480938 0 49524 SHERI LYNN LITTLEFIELD CHIEF LEGAL OFFICER 40.0 0.0 X 480051 0 48823 BJORN FORFANG EXIT 42019 MANAGING DIRECTOR 40.0 0.0 X 494201 0 31740 MARG FRANKLIN CFA EFF 92019 PRES & CEO & RESRCH FDN BD MEM 40.0 1.0 X X 510115 0 12026 LEILANI HALL MANAGING DIRECTOR 40.0 0.0 X 423181 0 41306 EMILY DUNBAR EXIT 62020 MANAGING DIRECTOR 40.0 0.0 X 409555 0 50141 SANDRA PETERS CFA HEAD, FIN. 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GRANT RECIPIENTS ARE REQUIRED TO SUBMIT DETAILED BUSINESS PLANS, BUDGETS AND REPORTS. ADDITIONALLY AS PART OF THE GRANT MONITORING PROCEDURES, THE GRANT RECIPIENTS HAVE TO MAKE ALL BOOKS AND RECORDS RELATED TO THE USE OF THE GRANT FUNDS AVAILABLE TO CFA INSTITUTE FOR A PERIOD OF FOUR YEARS AFTER ALL FUNDS HAVE BEEN EXPENDED. CFA INSTITUTE IS ALSO ABLE TO CONDUCT AN AUDIT OF THE SOCIETY GRANT RECIPIENTS WITHIN A YEAR AFTER GRANT FUNDS HAVE BEEN FULLY EXPENDED. CFA INSTITUTE ENSURES THAT ITS GRANT AGREEMENTS CONTAIN LANGUAGE RESTRICTING THE USE OF GRANT FUNDS TO BE USED FOR ANY PURPOSE OTHER THAN AS SPECIFIED IN THE INDIVIDUAL GRANT. THE GRANT FUNDS CAN NEITHER BE USED TO REIMBURSE THE EXPENSES THAT SOCIETY GRANT RECIPIENTS INCURRED PRIOR TO THE GRANT'S APPROVAL, NOR CAN THE GRANT FUNDS RESULT IN AN UNEXPECTED SURPLUS FOR THE SOCIETY GRANT RECIPIENTS. THESE PROCEDURES ENSURE THAT NO AMOUNTS CAN BE USED FOR THE INUREMENT OF PRIVATE INDIVIDUALS, INCLUDING INDIVIDUAL MEMBERS. true CFA Institute-Research Foundation 915 East High St Charlottesville VA 22902 546063408 501(C)(3) 431200 N/A N/A GEN SUPPORT CFA Societies Texas PO BOX 1467 AUSTIN TX 787671467 454833185 501(C)(6) 43700 N/A N/A GEN SUPPORT CFA Society Alabama 100 Office Park Dr Birmingham AL 35223 631064381 501(C)(6) 42393 N/A N/A GEN SUPPORT CFA Society Arkansas 111 Center St 1st Floor Little Rock AR 72201 582055805 501(C)(6) 46137 N/A N/A GEN SUPPORT CFA Society Atlanta 4355 Cobb Pkwy Ste J 533 Atlanta GA 30339 581105110 501(c)(6) 462043 N/A N/A GEN SUPPORT CFA Society Austin PO Box 1467 Austin TX 787671467 721621543 501(c)(6) 55249 N/A N/A GEN SUPPORT CFA Society Baltimore 575 S Charles St Ste 500 Baltimore MD 21201 520895933 501(c)(6) 68211 N/A N/A GEN SUPPORT CFA Society Boston 2 Financial Center Ste 1010 Boston MA 02111 237069432 501(c)(6) 306962 N/A N/A GEN SUPPORT CFA 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36167 N/A N/A GEN SUPPORT CFA Society Nashville 7003 CHADWICK DR 350 BRENTWOOD TN 37027 621181717 501(C)(6) 49744 N/A N/A GEN SUPPORT CFA Society Nebraska PO Box 80685 Lincoln NE 68501 470667513 501(C)(6) 53892 N/A N/A GEN SUPPORT CFA Society Nevada 2251 S FT Apadie Rad Las Vegas NV 89117 200195946 43559 N/A N/A GEN SUPPORT CFA Society New Mexico PO Box 36947 Alburquerque NM 87176 850454738 501(C)(6) 45195 N/A N/A GEN SUPPORT CFA Society New York 1540 Broadway New York NY 10036 135610350 501(C)(3) 1065837 N/A N/A GEN SUPPORT CFA Society North Carolina 3004 Oxbow Ct Raleigh NC 27613 561824044 501(C)(6) 156054 N/A N/A GEN SUPPORT CFA Society of Idaho 7661 W Riverside Dr 105 Boise ID 83714 043704521 38135 N/A N/A GEN SUPPORT CFA Society Oklahoma PO Box 13006 Oklahoma City OK 73113 203779358 501(C)(3) 78056 N/A N/A GEN SUPPORT CFA Society Orange County 4533 MacArthur Blvd Ste 182 Newport Beach CA 92660 330228558 501(C)(6) 71616 N/A N/A GEN SUPPORT CFA Society Orlando PO Box 2783 Orlando FL 32802 593213363 501(C)(6) 60723 N/A N/A GEN SUPPORT CFA Society Philadelphia 100 North 20th St- 4th Fl Philadelphia PA 19103 236395738 501(C)(6) 173930 N/A N/A GEN SUPPORT CFA Society Phoenix 16435 N Scottsdale Road 105 Scottsdale AZ 852541525 860469879 66681 N/A N/A GEN SUPPORT CFA Society Pittsburgh PO Box 1212 Pittsburgh PA 15230 251421153 501(C)(6) 74668 N/A N/A GEN SUPPORT CFA Society Portland PO Box 434 PORTLAND OR 97207 237358083 501(C)(6) 56274 N/A N/A GEN SUPPORT CFA Society Providence PO Box 41027 PROVIDENCE RI 02940 237069442 501(C)(6) 42434 N/A N/A GEN SUPPORT CFA Society Rochester 2 Berrywood Circle Penfield NY 14526 160977751 501(C)(6) 69424 N/A N/A GEN SUPPORT CFA Society Sacramento 915 L St Ste C-252 Sacramento CA 95814 943315268 501(c)(6) 41794 N/A N/A GEN SUPPORT CFA Society Salt Lake 150 Social Hall Salt Lake City UT 84145 611526448 501(C)(6) 64025 N/A N/A GEN SUPPORT CFA Society San Antonio 12526 La Aventura St San Antonio TX 78233 741660459 41271 N/A N/A GEN SUPPORT CFA Society San Diego PO Box 928456 San Diego CA 921928456 237069278 501(C)(6) 80451 N/A N/A GEN SUPPORT CFA Society San Francisco 235 Montgomery St 725 San Francisco CA 94104 946078576 501(c)(6) 245100 N/A N/A GEN SUPPORT CFA Society Seattle PO Box 7455 Bonney Lake WA 98391 911164972 501(c)(6) 105461 N/A N/A GEN SUPPORT CFA Society South Carolina 2711 Middleburg DrSte 316 Columbia SC 29204 571134283 501(C)(6) 63768 N/A N/A GEN SUPPORT CFA Society South Florida 8602 Tourmaline Blvd Boynton Beach FL 33437 300325375 501(C)(6) 64685 N/A N/A GEN SUPPORT CFA Society Spokane 808 W Spokane Falls Blvd Spokane WA 99201 911592696 501(C)(6) 47153 N/A N/A GEN SUPPORT CFA Society St Louis 330 Wenneker Drive St Louis MO 63124 436031785 501(c)(6) 98741 N/A N/A GEN SUPPORT CFA Society Stamford 6 Oliver St Harbor View South Norwalk CT 06854 061513527 501(C)(6) 73013 N/A N/A GEN SUPPORT CFA Society Tampa Bay 12157 W Linebaugh Ave PMB 312 Tampa FL 336261732 510669210 501(c)(6) 79611 N/A N/A GEN SUPPORT CFA Society Tucson 1820 E River Road Tucson AZ 85718 462993396 32957 N/A N/A GEN SUPPORT CFA Society Vermont 110 Main St Ste 201 Burlington VT 05401 043374500 501(C)(6) 34140 N/A N/A GEN SUPPORT CFA Society Virginia PO Box 31441 Richmond VA 23294 541429832 501(c)(6) 61530 N/A N/A GEN SUPPORT CFA Society Washington DC 1401 New York Ave NW Washington DC 20005 237360649 501(c)(6) 184273 N/A N/A GEN SUPPORT CFA Society West Michigan 134 N Lasalle St Kalamazoo MI 49009 380892650 42671 N/A N/A GEN SUPPORT 3 66 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, BUDGETS AND REPORTS. ADDITIONALLY AS PART OF THE GRANT MONITORING PROCEDURES, THE GRANT RECIPIENTS HAVE TO MAKE ALL BOOKS AND RECORDS RELATED TO THE USE OF THE GRANT FUNDS AVAILABLE TO CFA INSTITUTE FOR A PERIOD OF FOUR YEARS AFTER ALL FUNDS HAVE BEEN EXPENDED. CFA INSTITUTE IS ALSO ABLE TO CONDUCT AN AUDIT OF THE SOCIETY GRANT RECIPIENTS WITHIN A YEAR AFTER GRANT FUNDS HAVE BEEN FULLY EXPENDED. CFA INSTITUTE ENSURES THAT ITS GRANT AGREEMENTS CONTAIN LANGUAGE RESTRICTING THE USE OF GRANT FUNDS TO BE USED FOR ANY PURPOSE OTHER THAN AS SPECIFIED IN THE INDIVIDUAL GRANT. THE GRANT FUNDS CAN NEITHER BE USED TO REIMBURSE THE EXPENSES THAT SOCIETY GRANT RECIPIENTS INCURRED PRIOR TO THE GRANT'S APPROVAL, NOR CAN THE GRANT FUNDS RESULT IN AN UNEXPECTED SURPLUS FOR THE SOCIETY GRANT RECIPIENTS. ALL DOMESTIC GRANTEES HAVE BEEN DEEMED TO BE TAX-EXEMPT ENTITIES THAT ARE SUBJECT TO PRIVATE INUREMENT PROHIBITIONS JUST AS CFA INSTITUTE IS. THESE GRANTS ARE NOT USED TO PROVIDE FUNDS TO ANY INDIVIDUAL MEMBERS. X X X X X true true X X X X X X true false false PAUL SMITH CFA THRU 82019 FORMER PRESIDENT & CEO 593491 0 667916 0 472956 0 140955 0 31401 0 1906719 0 0 0 JOSEPH P LANGE CORPORATE SECRETARY 147673 0 14706 0 1664 0 19486 0 19575 0 203104 0 0 0 JEFF KNIGHTON INTERIM CFO (7/2019-12/2019) 207385 0 60172 0 1928 0 32107 0 20942 0 322534 0 0 0 KURT N SCHACHT CFA MANAGING DIRECTOR 370800 0 233044 0 20987 0 33000 0 22683 0 680514 0 0 0 STEPHEN M HORAN CFA MANAGING DIRECTOR 325833 0 160800 0 4264 0 33000 0 23082 0 546979 0 0 0 SHERI LYNN LITTLEFIELD CHIEF LEGAL OFFICER 328000 0 133020 0 19031 0 33000 0 15823 0 528874 0 0 0 MICHAEL COLLINS MANAGING DIRECTOR 315000 0 158170 0 7086 0 33000 0 22786 0 536042 0 0 0 GARY BAKER MANAGING DIRECTOR 325255 0 159439 0 34024 0 33131 0 6146 0 557995 0 0 0 NICK POLLARD MANAGING DIRECTOR 324176 0 160945 0 32418 0 60802 0 21941 0 600282 0 0 0 CHRIS AINSWORTH MANAGING DIRECTOR 304167 0 169200 0 7571 0 33000 0 16524 0 530462 0 0 0 EMILY DUNBAR EXIT 62020 MANAGING DIRECTOR 267857 0 107143 0 34555 0 45000 0 5141 0 459696 0 0 0 SANDRA PETERS CFA HEAD, FIN. REPORT POL. GROUP 302750 0 100044 0 5212 0 33000 0 17191 0 458197 0 0 0 TONY TAN HEAD, ETHICS, STANDARD CONDUCT 319873 0 100176 0 0 0 12537 0 99 0 432685 0 0 0 DIANE BASILE CFA FORMER CFO (Exit 7/2019) 186111 0 25296 0 34240 0 25941 0 13518 0 285106 0 0 0 BJORN FORFANG EXIT 42019 MANAGING DIRECTOR 154735 0 53676 0 285790 0 23902 0 7838 0 525941 0 0 0 LEILANI HALL MANAGING DIRECTOR 286641 0 124885 0 11655 0 33000 0 8306 0 464487 0 0 0 MARG FRANKLIN CFA EFF 92019 PRES & CEO & RESRCH FDN BD MEM 183333 0 325000 0 1782 0 11000 0 1026 0 522141 0 0 0 ROB LANGRICK SENIOR HEAD CFA PROGRAM 290000 0 69800 0 2324 0 33000 0 1733 0 396857 0 0 0 PEG JOBST SENIOR HEAD EXAM ADMIN. SECURI 259183 0 80694 0 6126 0 33000 0 22601 0 401604 0 0 0 MARY LEUNG HEAD ADVOCACY 251345 0 51016 0 20701 0 36434 0 24504 0 384000 0 0 0 SCHEDULE J, PART I, LINE 1A MEMBERS OF THE LEADERSHIP TEAM ARE ELIGIBLE TO BOOK A BUSINESS CLASS FARE (REGARDLESS OF FLIGHT TIME OR SEGMENT MILEAGE). IF THE SELECTED FLIGHT OFFERS A 3-CABIN CONFIGURATION (ECONOMY/BUSINESS/FIRST), A BUSINESS CLASS TICKET IS APPROPRIATE. IF THE SELECTED FLIGHT ONLY OFFERS A 2-CABIN CONFIGURATION (ECONOMY/FIRST), A FIRST CLASS TICKET IS APPROPRIATE. LEADERSHIP TEAM TRAVELERS SHOULD CONSIDER BOTH A FLEXIBLE AND A RESTRICTED TICKET AND SELECT THE FARE THAT PROVIDES THE BEST OPTION FOR THEIR TRAVEL. A FLEXIBLE TICKET IS APPROPRIATE IF ONES SCHEDULE IS LIKELY TO CHANGE. A CHANGEABLE, NON-REFUNDABLE TICKET IS APPROPRIATE IF ONES SCHEDULE IS FIRM. TRAVEL FOR COMPANIONS: AN EMPLOYEE CAN EXCHANGE A BUSINESS CLASS AIRFARE FOR TWO COACH AIRFARES TO INCLUDE COMPANION TRAVEL. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: TAX SERVICES FOR EXPATRIATES ARE GROSSED-UP. ALL EXPATRIATES AND INTERNATIONAL ROTATION ASSIGNMENT PROGRAM EMPLOYEES SALARIES ARE EQUALIZED TO THEIR RESIDENTIAL TAX CODE. HOUSING ALLOWANCE OR RESIDENT FOR PERSONAL USE: CFA INSTITUTE PAYS FOR RELOCATION HOUSING AND INCLUDES THIS IN THE EMPLOYEES COMPENSATION. AS CUSTOMARY IN LOCAL COUNTRY, CFA INSTITUTE EMPLOYEES WHO LIVE AND WORK IN HONG KONG, INDIA, OR UNITED ARAB EMIRATES ARE PROVIDED HOUSING ALLOWANCES WHICH ARE INCLUDED IN COMPENSATION. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES: THE U.S. WELLNESS PROGRAM CHANGED IN CY2016 FROM A REIMBURSABLE PLAN TO A CREDIT-WELLNESS PROGRAM. HOWEVER, U.S. EMPLOYEES WHO ARE NOT COVERED BY A CFA INSTITUTE HEALTH PLAN, AND NON-U.S. EMPLOYEES ARE STILL ELIGIBLE FOR REIMBURSEMENTS ASSUMING THEY QUALIFY. SCHEDULE J, PART I, LINE 4A SEVERANCE PAYMENTS WERE MADE AS FOLLOWS: Bjorn Forfang $238,500 FORM 990, PART VII, COLUMN D Hua Yu received $4,578 FOR VOLUNTEER REIMBURSEMENT OF A COMPANION TICKET. COMPENSATION FOR THIS INDIVIDUAL WAS NOT FOR SERVICE AS A BOARD MEMBER. PART III, LINE 1, ORGANIZATION'S MISSION CFA INSTITUTE IS THE GLOBAL, NON-PROFIT PROFESSIONAL MEMBERSHIP ASSOCIATION THAT ADMINISTERS THE CHARTERED FINANCIAL ANALYST (CFA) CERTIFICATE, THE CERTIFICATE IN INVESTMENT PERFORMANCE MEASUREMENT (CIPM) AND THE CFA INSTITUTE INVESTMENT FOUNDATIONS CURRICULUM. EXAMINATION PROGRAMS ARE CONDUCTED WORLDWIDE ALONG WITH RESEARCH, PROFESSIONAL DEVELOPMENT PROGRAMS AND PROFESSIONAL CONDUCT ENFORCEMENT FOR ITS INDIVIDUAL MEMBERS. THE ORGANIZATION SETS VOLUNTARY, ETHICS-BASED PROFESSIONAL AND PERFORMANCE-REPORTING STANDARDS FOR THE INVESTMENT PROFESSION. THE STATED MISSION OF THE ORGANIZATION IS TO LEAD THE INVESTMENT PROFESSION GLOBALLY BY PROMOTING THE HIGHEST STANDARDS OF ETHICS, EDUCATION, AND PROFESSIONAL EXCELLENCE FOR THE ULTIMATE BENEFIT OF SOCIETY. CFA INSTITUTE PURSUES THIS MISSION ON BEHALF OF ITS INDIVIDUAL MEMBERS WHO CURRENTLY NUMBER 186,393 IN 162 COUNTRIES. CFA INSTITUTE'S MEMBERSHIP INCLUDES 179,506 CFA CHARTERHOLDERS AND EXTENDS ITS REACH INTO LOCAL COMMUNITIES THROUGH A NETWORK OF 158 MEMBER SOCIETIES IN 81 COUNTRIES. CFA INSTITUTE IS HEADQUARTERED IN CHARLOTTESVILLE, VIRGINIA, UNITED STATES, WITH BRANCH OFFICES IN LONDON, BRUSSELS, HONG KONG, NEW YORK, AND WASHINGTON D.C. AND SUBSIDIARY OFFICES IN BEIJING, HONG KONG, MUMBAI, SHANGHAI, SINGAPORE AND UAE. MORE INFORMATION ON THE ORGANIZATION CAN BE FOUND AT WWW.CFAINSTITUTE.ORG. PART III, LINE 4D, OTHER PROGRAM SERVICES CFA INSTITUTE ALSO PROVIDES A VARIETY OF PROGRAMS AND SERVICES TO ITS MEMBERS AND TO THE GLOBAL INVESTMENT COMMUNITY AT LARGE. PROGRAMS INCLUDE THE CERTIFICATE IN INVESTMENT PERFORMANCE MEASURMENT (CIPM), A DESIGNATION PROGRAM FOR PROFESSIONALS THAT PRODUCE, INTERPRET, PRESENT AND EXPLAIN INVESTMENT PERFORMANCE AND PRODUCTS (INCLUDING SELECTION AND EVALUATION OF INVESTMENT MANAGERS), AND THE CFA INSTITUTE INVESTMENT FOUNDATIONS, A PROGRAM FOR NON-PROFESSIONALS WORKING IN THE INVESTMENT MANAGEMENT INDUSTRY. PART VI, LINES 6, 7A & 7B THE FOUR CLASSES OF MEMBERSHIP IN CFA INSTITUTE ARE REGULAR, AFFILIATE, CHARTER-HOLDER MEMBERS AND MEMBER SOCIETIES. REGULAR MEMBERS ARE ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED AT MEMBER MEETINGS. GOVERNORS, EXCLUDING THOSE SERVING IN AN EX OFFICIO CAPACITY, CAN ONLY BE ELECTED BY REGULAR MEMBERS. THE BOARD MAY HAVE UP TO TWO GOVERNORS WHO ARE NOT REGULAR MEMBERS BUT ALL OTHER GOVERNORS MUST BE A REGULAR MEMBER. PART VI, LINE 11B FORM 990 IS PRESENTED TO THE Audit and Finance Committee AND DISCUSSED IN DETAIL. IN ADDITION, COPIES ARE PROVIDED TO EACH OF THE BOARD OF GOVERNORS. THESE PRESENTATIONS TAKE PLACE PRIOR TO FILING THE FORM 990 WITH THE IRS. PART VI, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE COLLECTED ANNUALLY. EMPLOYEE AND BOARD OF GOVERNORS DISCLOSURES ARE DIRECTED TO THE CHIEF COMPLIANCE OFFICER. THE CONFLICT OF INTEREST POLICY PROVIDES VARIOUS AVENUES FOR REPORTING, INCLUDING ANYONE WISHING TO ESCALATE CONCERNS DIRECTLY TO THE RISK COMMITTEE CHAIR. COMPLIANCE TRAINING ON THE CODE OF CONDUCT, INCLUDING ON CONFLICTS OF INTEREST, IS REQUIRED FOR ALL NEW EMPLOYEES AND ONGOING ANNUALLY. ALL EMPLOYEES ACKNOWLEDGE THEIR UNDERSTANDING AND ADHERENCE TO POLICY WITHIN THE CODE OF CONDUCT ANNUALLY. THE RESTRICTIONS IMPOSED ON A PERSON WITH A CONFLICT VARY BASED ON THE NATURE OF THE CONFLICT AND THE SITUATION; HOWEVER, RESOLUTION OF A CONFLICT COULD INCLUDE PROHIBITING A BOARD MEMBER FROM PARTICIPATING IN A PARTICULAR DELIBERATION AND/OR DECISION. PART VI, LINES 15A & 15B TO ENSURE ONGOING AND EFFECTIVE CORPORATE GOVERNANCE, THE BOARD OF GOVERNORS UTILIZES A COMMITTEE COMPRISED OF FOUR GOVERNORS WHO ARE INDEPENDENT OF MANAGEMENT OF CFA INSTITUTE, AND ARE FREE OF ANY RELATIONSHIP THAT WOULD INTERFERE WITH THEIR EXERCISE OF INDEPENDENT JUDGMENT. THE PEOPLE AND CULTURE COMMITTEE SETS THE COMPENSATION OF THE CEO, INCLUDING ANY INCENTIVE, AND ENGAGES INDEPENDENT CONSULTANTS AS NEEDED TO PROVIDE COMPENSATION RECOMMENDATIONS. THE COMMITTEE ENSURES THAT INDEPENDENT COMPARATIVE COMPENSATION STUDIES ARE CONDUCTED ON AN ANNUAL BASIS TO GAUGE THE COMPETITIVENESS OF EXECUTIVE COMPENSATION AT CFA INSTITUTE. THE MOST RECENT EXECUTIVE MARKET STUDY WAS CONDUCTED IN FY2019, WHEN CFA INSTITUTE RETAINED A GLOBAL MANAGEMENT CONSULTING FIRM TO PROVIDE COMPETITIVE PAY BENCHMARKS THAT REFLECT THE MARKETS FROM WHICH CFA INSTITUTE WOULD MOST LIKELY RECRUIT EXECUTIVE TALENT. PEER GROUP SELECTION SPANNED DIFFERENT INDUSTRY SECTORS, INCLUDING NOT-FOR-PROFIT AND FINANCIAL SERVICES FIRMS, AND GENERAL INDUSTRY. THE NOT-FOR-PROFIT PEER GROUP SELECTION WAS BASED ON CRITERIA THAT INCLUDED MISSION, REVENUE, HEADCOUNT AND GLOBAL PRESENCE. PAY DATA WAS COLLECTED FROM PUBLICLY DISCLOSED IRS FORM 990S. DATA FOR THE OTHER INDUSTRY SECTORS WAS SOURCED USING BOTH THIRD-PARTY SURVEY DATA AND INFORMATION DISCLOSED ON PUBLIC FILINGS. THE CONSULTING FIRM PERFORMED THIS STUDY ON AN INDEPENDENT FEE BASIS. ADDITIONALLY, THE CFA INSTITUTE PEOPLE AND CULTURE COMMITTEE ALSO ENGAGES INDEPENDENT ADVISORS TO HELP INTERPRET HOW THE REPORTED MARKET DATA APPLIES TO CFA INSTITUTE'S EXECUTIVE POSITIONS. PART VI, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC THROUGH THE ORGANIZATION'S WEBSITE, WWW.CFAINSTITUTE.ORG. PART XI, LINE 9 OTHER CHANGES IN NET ASSETS ACCOUNTING METHOD CHANGE UNDER ASC 606 ............. ($4,565,598) CFA INSTITUTE CHINA LIMITED 1401 HUTCHISON HOUSE HARCOURT RD HK 980615079 PROF. ORG HK 269853 1360114 CFA INSTITUT CFA INSTITUTE INDIA PRIVATE LTD 103 NAMAN CENTER MUMBAI IN 981196398 PROF. ORG IN 2676869 3119429 CFA INSTITUT CFA GLOBAL HOLDINGS LLC PO BOX 2083 CHARLOTTESVILLE VA 22902 471269465 HOLDINGS VA 0 0 CFA INSTITUT SI WEI BEIJING ENTERPRISE MGMT ORIENTAL PLAZA BEIJING CH 100738 981228213 PROF. ORG CH 3452515 2416375 CFA CHINA CFA INSTITUTE SINGAPORE PVT LTD 19 FLORENCE ROAD SINGAPORE SN 549480 981261400 PROF. ORG SN 576585 878629 CFA INSTITUT CFA INSTITUTE LTD PART OF FL 7 AL MAQAM TOWER ADGM SQUARE AE 981442588 PROF. ORG AE 1546471 1423625 CFA INSTITUT CFA INSTITUTE RESEARCH FOUNDATION PO BOX 2083 CHARLOTTESVILLE VA 22902 546063408 INV. 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