Civic Intelligence

Boston Security Analysts Society

EIN 23-7069432 • 501(c)6 • Boston, MA

Profile

To be a community of investment professionals which promotes the highest ethical standards, best practices and professional development of current and future members to benefit clients and the broader investing public.

101 Federal Street Suite 502Boston, MA 02110

www.bsas.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

46th percentile

0.19x

Higher debt load relative to assets than 46% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

70th percentile

0.51x

Higher debt load relative to revenue than 70% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Source year 2025

Net Margin

16th percentile

-7.0%

Higher net margin than 16% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

59th percentile

8.0%

Faster asset growth than 59% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Annualized from 2022 to 2025

Revenue Growth

44th percentile

5.3%

Faster revenue growth than 44% of similar nonprofits.

501(c)6 • $5M-$10M nonprofits • Annualized from 2022 to 2025

Assets

Down

$6,656,724

Down $253,319 (-3.7%) from 2024

Liabilities

Down

$1,236,645

Down $189,201 (-13%) from 2024

Net Assets

Down

$5,420,079

Down $64,118 (-1.2%) from 2024

Revenue

Up

$2,419,772

Up $421,484 (+21%) from 2024

Expenses

Up

$2,588,166

Up $491,925 (+23%) from 2024

Net Income

Down

-$168,394

Down $70,441 (-72%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $3,059,438Liabilities 2011: $211,488Net Assets 2011: $2,847,9502011Assets 2012: $3,424,654Liabilities 2012: $195,843Net Assets 2012: $3,228,8112012Assets 2013: $3,879,572Liabilities 2013: $307,910Net Assets 2013: $3,571,6622013Assets 2014: $4,293,940Liabilities 2014: $254,252Net Assets 2014: $4,039,6882014Assets 2015: $4,250,173Liabilities 2015: $319,755Net Assets 2015: $3,930,4182015Assets 2016: $4,277,224Liabilities 2016: $317,724Net Assets 2016: $3,959,5002016Assets 2018: $4,463,942Liabilities 2018: $341,760Net Assets 2018: $4,122,1822018Assets 2019: $4,764,884Liabilities 2019: $411,881Net Assets 2019: $4,353,0032019Assets 2020: $4,708,519Liabilities 2020: $167,713Net Assets 2020: $4,540,8062020Assets 2021: $6,009,185Liabilities 2021: $269,573Net Assets 2021: $5,739,6122021Assets 2022: $5,288,449Liabilities 2022: $321,554Net Assets 2022: $4,966,8952022Assets 2023: $6,655,258Liabilities 2023: $1,492,130Net Assets 2023: $5,163,1282023Assets 2024: $6,910,043Liabilities 2024: $1,425,846Net Assets 2024: $5,484,1972024Assets 2025: $6,656,724Liabilities 2025: $1,236,645Net Assets 2025: $5,420,0792025

Highlighted filing

2025

Assets$6,656,724
Liabilities$1,236,645
Net Assets$5,420,079

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $1,244,3262011Expenses 2012: $1,049,8102012Expenses 2013: $1,517,2972013Revenue 2014: $1,686,466Expenses 2014: $1,510,865Net Income 2014: $175,6012014Revenue 2015: $1,616,079Expenses 2015: $1,584,191Net Income 2015: $31,8882015Revenue 2016: $1,634,873Expenses 2016: $1,647,010Net Income 2016: -$12,1372016Revenue 2018: $1,701,394Expenses 2018: $1,606,329Net Income 2018: $95,0652018Revenue 2019: $1,919,405Expenses 2019: $1,847,413Net Income 2019: $71,9922019Revenue 2020: $1,832,964Expenses 2020: $1,681,778Net Income 2020: $151,1862020Revenue 2021: $1,696,898Expenses 2021: $1,331,024Net Income 2021: $365,8742021Revenue 2022: $2,072,624Expenses 2022: $1,759,733Net Income 2022: $312,8912022Revenue 2023: $1,853,709Expenses 2023: $1,890,424Net Income 2023: -$36,7152023Revenue 2024: $1,998,288Expenses 2024: $2,096,241Net Income 2024: -$97,9532024Revenue 2025: $2,419,772Expenses 2025: $2,588,166Net Income 2025: -$168,3942025

Highlighted filing

2025

Revenue$2,419,772
Expenses$2,588,166
Net Income-$168,394

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.66$1.24$5.42$2.42$2.59$0.17
2024Detailed filing. Detailed filing data is available for this year.$6.91$1.43$5.48$2.00$2.10$0.10
2023Detailed filing. Detailed filing data is available for this year.$6.66$1.49$5.16$1.85$1.89$0.04
2022Detailed filing. Detailed filing data is available for this year.$5.29$0.32$4.97$2.07$1.76$0.31
2021Detailed filing. Detailed filing data is available for this year.$6.01$0.27$5.74$1.70$1.33$0.37
2020Detailed filing. Detailed filing data is available for this year.$4.71$0.17$4.54$1.83$1.68$0.15
2019Detailed filing. Detailed filing data is available for this year.$4.76$0.41$4.35$1.92$1.85$0.07
2018Detailed filing. Detailed filing data is available for this year.$4.46$0.34$4.12$1.70$1.61$0.10
2016Detailed filing. Detailed filing data is available for this year.$4.28$0.32$3.96$1.63$1.65$0.01
2015Detailed filing. Detailed filing data is available for this year.$4.25$0.32$3.93$1.62$1.58$0.03
2014Detailed filing. Detailed filing data is available for this year.$4.29$0.25$4.04$1.69$1.51$0.18
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.88$0.31$3.57$1.52
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.42$0.20$3.23$1.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.06$0.21$2.85$1.24
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Jan 13, 2026
Return Version
2024v5.5
Gross Receipts
$2,700,478
Mission and Program Overview

Mission

To be a community of investment professionals which promotes the highest ethical standards, best practices and professional development of current and future members to benefit clients and the broader investing public.

Cfa society boston members promote the highest ethical standards, best practices and professional development within the investment industry to educate and build trust in the community it serves.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,431,947$5,426,297▼ $5,650
Savings and Temporary Cash Investments$169,076$168,773▼ $303
Cash and Non-Interest-Bearing Accounts$120,255$115,658▼ $4,597
Land, Buildings, and Equipment, Net$132,608$90,006▼ $42,602
Prepaid Expenses and Deferred Charges$21,835$33,020▲ $11,185
Accounts Receivable$60,575$215▼ $60,360
Total Assets$6,910,043$6,656,724▼ $253,319
Other Assets Total$973,747$822,755▼ $150,992
Liabilities
Other Liabilities$992,059$831,997▼ $160,062
Deferred Revenue$289,975$303,975▲ $14,000
Accounts Payable and Accrued Expenses$143,812$100,673▼ $43,139
Total Liabilities$1,425,846$1,236,645▼ $189,201
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,484,197$5,420,079▼ $64,118
Total Net Assets Fund Balance$5,484,197$5,420,079▼ $64,118
Total Liabilities and Net Assets / Fund Balance$6,910,043$6,656,724▼ $253,319

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$64,127$42,900$107,027
Leasehold Improvements$25,879$33,320$59,199
Other Land Buildings$0$9,000$9,000
Other Assets Org$822,755--
Other Securities$262,157--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeanne WolfChief Executive OfficerFT$216,480$105,820$322,300
Renee RussoChief Operating OfficerFT$167,639$69,561$237,200
Todd FowlerDirector of Education and ContentFT$121,195$420$121,615
Revenue and Support

Revenue Composition

Contributions and Grants
$975,180
Program Service Revenue
$796,824
Investment Income
$510,293
Other Revenue
$137,475
Change in Net Assets
$-168,394

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,419,772
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$104,276
Total Revenue per Audited Statements
$2,524,048
Total Revenue per Form 990
$2,419,772
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,383,355
Salaries, Compensation, and Employee Benefits$1,204,811
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$605,561
Other Salaries and Wages---$255,010
Fees for Services Other---$254,223
Other Employee Benefits---$204,978
Occupancy---$188,658
Information Technology---$87,584
Payroll Taxes---$86,547
Pension Plan Contributions---$52,715
Fees for Services Management---$46,764
Depreciation Depletion---$42,602
All Other Expenses---$30,923
Advertising---$26,652
Travel---$26,326
Fees for Services Accounting---$21,711
Insurance---$18,040
Other Expenses---$17,536
Office Expenses---$12,097
Conferences and Meetings---$5,617
Total Functional Expenses$0$0$0$2,588,166

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,588,166
Total Expenses per Audited Statements$2,588,166
Total Expenses per Form 990$2,588,166
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$831,997
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization has members.

Form 990, Part VI, Section A, Line 7A

The organization's members elect members of the governing board.

Form 990, Part VI, Section B, Line 11B

The organization's form 990 is prepared with the assistance of an outside accounting firm. Following audit committee's review, the outside accounting firm will make edits as necessary and finalize the return. Copies of completed form 990 will be distributed in electronic form to members of the governing body prior to filing with the irs.

Form 990, Part VI, Section B, Line 12C

All members of the board of directors and officers are required to disclose any conflicts of interest by completing a questionnaire annually. If a conflict of interest is deemed to exist, it is the duty of the individual to disclose such interest. This interest is to be recorded in the minutes of the meeting of the board and where the conflict concerns any board or committee member, the individual(s) shall not participate in any vote or deliberation on the matter.

Form 990, Part VI, Section B, Line 15

Compensation for the executive director and coo are determined by the organization's board of directors by using comparable, relevant market data for the organization's positions obtained from published surveys, and other available sources such as peer organizations' 990 forms. Other surveys of specialized skill sets or employee attributes critical to the success of the organization will also be incorporated as needed. Moreover, the board may rely on outside advisors, consultants, and counsel, from time to time, to provide market data reports, analysis, and opinions with respect to compensation-related matters. All compensation decisions made are documented in the minutes.

Form 990, Part VI, Section C, Line 19

All governing documents, conflict of interest policies, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Cfa Society Boston Inc
EIN
23-7069432
Phone
6174260270
Address
101 FEDERAL STREET SUITE 502, BOSTON, MA 02110

Signing Officer

Name
Jeanne Wolf
Title
CEO
Phone
6174260270
Signed
2026-01-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeanne Wolf
Formed
1946
Legal Domicile
Ma
Voting Board Members
15
Independent Board Members
15
Employees
8
Volunteers
200

Preparer

Firm
JOHNSON O'CONNOR FERON & CARUCCI LLP
Address
101 EDGEWATER DRIVE SUITE 210, WAKEFIELD, MA 01880
Preparer
Joseph M Giso CPA Mst
Phone
7819143400
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

No change in oversight process or selection process from the prior year.

Financial Statement Notes

PART X, LINE 2:

The society qualifies as a tax-exempt non-profit organization under section 501(c)(6) of the internal revenue code and is exempt from federal and state income taxes. Unrelated business income would be taxable according to applicable internal revenue code sections. The society regularly reviews and evaluates its tax positions taken in its filed returns and recognizes the benefit from a tax position only if it is more likely than not that the position would be sustained upon audit based solely on the technical merits of the tax position. The society files a federal tax return. The statute of limitations for this jurisdiction is generally three years. The society has no returns under examination as of june 30, 2025.

Raw XML AppendixShowing 400 of 524 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR OF EDUCATION AND CONTENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIR, EDUCATION
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
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IRS990/MissionDesc0CFA SOCIETY BOSTON MEMBERS PROMOTE THE HIGHEST ETHICAL STANDARDS, BEST PRACTICES AND PROFESSIONAL DEVELOPMENT WITHIN THE INVESTMENT INDUSTRY TO EDUCATE AND BUILD TRUST IN THE COMMUNITY IT SERVES.
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IRS990/ProgSrvcAccomActy2Grp/Desc0DISCUSSING THE INTERSECTION OF FINANCE AND TECHNOLOGY. IN ADDITION TO CONFERENCES, THE SOCIETY ALSO OFFERS INDUSTRY ANALYSIS SEMINARS, CFA CANDIDATE PREP, AND ONLINE LEARNING OPPORTUNITIES THROUGH WEBINARS AND VIDEOS. OUR CFA PRACTICE EXAM IS USED BY CFA CANDIDATES GLOBALLY TO PREPARE FOR THE CFA EXAM. WE ALSO WORK WITH EDUCATIONAL PARTNERS TO DELIVER CANDIDATE EXAM PREP TO LOCAL CANDIDATES. OUR CIO ROUNDTABLE (WHICH WE PLAN ON RETURNING TO ANNUAL PROGRAM) FEATURES INVESTMENT EXECUTIVES FROM ASSET OWNERS AND ASSET MANAGERS DISCUSSING TRENDS IN INVESTMENTS AND ASSET ALLOCATION. EDUCATION REMAINS AT THE CORE OF WHO WE ARE AND WHAT WE DO. CONTINUING EDUCATION NOT ONLY MAKES THE PROFESSIONAL BETTER, IT MAKES FOR A BETTER PROFESSION.
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RIGHT OF USE ASSET - OPERATING LEASE
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0VANGUARD REIT INDEX FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc1VANGUARD INTERNATIONAL
IRS990ScheduleD/OtherSecuritiesGrp/Desc2VANGUARD STOCK MARKET
IRS990ScheduleD/OtherSecuritiesGrp/Desc3VANGUARD BOND MARKET
IRS990ScheduleD/OtherSecuritiesGrp/Desc4VANGUARD SHORT-TERM FEDERAL
IRS990ScheduleD/OtherSecuritiesGrp/Desc5HIGH-YIELD CORP FUND ADM
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SOCIETY QUALIFIES AS A TAX-EXEMPT NON-PROFIT ORGANIZATION UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. UNRELATED BUSINESS INCOME WOULD BE TAXABLE ACCORDING TO APPLICABLE INTERNAL REVENUE CODE SECTIONS. THE SOCIETY REGULARLY REVIEWS AND EVALUATES ITS TAX POSITIONS TAKEN IN ITS FILED RETURNS AND RECOGNIZES THE BENEFIT FROM A TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE POSITION WOULD BE SUSTAINED UPON AUDIT BASED SOLELY ON THE TECHNICAL MERITS OF THE TAX POSITION. THE SOCIETY FILES A FEDERAL TAX RETURN. THE STATUTE OF LIMITATIONS FOR THIS JURISDICTION IS GENERALLY THREE YEARS. THE SOCIETY HAS NO RETURNS UNDER EXAMINATION AS OF JUNE 30, 2025.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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