CFA Institute filed Form 990, Return of Organization Exempt From Income Tax, earlier this month for our fiscal year 2020 that ended on 31 August 2020.
The Form 990 requires organizations to complete Schedule I, Grants and Other Assistance to Organizations, Governments, and Individuals in the United States, listing those United States recipients receiving more than $5,000. Each United States society that received more than $5,000 from CFA Institute during FY2020 (1 September 2019–31 August 2020) will be reflected on this schedule. Specifically, the society’s name, address, employer identification number, amount, and purpose of the funding will be reflected.
Please note, the inclusion of grant payments to societies on the CFA Institute 990 tax return does not replace an individual society’s responsibility to file its own income tax return each year (Form 990 in the US or similar form if required outside the US). Each society is solely responsible for filing its own income tax return and should seek advice from a local tax advisor if there is uncertainty regarding the society’s filing requirements.
No further action is required; we simply wanted you to be aware of your society’s inclusion on the CFA Institute 990 return, and to remind society leaders of your responsibility to confirm your local society is compliant with their own income tax filings.
Please let us know if you have any questions or comments.
© 2021 CFA Institute. All rights reserved
To download assets, please view the site on a desktop device