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← EDUCATIONAL FOUNDATION OF THE MASSACHUSETTS SOCIETY OF CERTIFIED

Form 990 for tax year 2024

Filed by EDUCATIONAL FOUNDATION OF THE MASSACHUSETTS SOCIETY OF CERTIFIED.

Totals

Total revenue
$2,477,819
Total expenses
$2,643,898
Contributions and grants received
$247,367
Grants paid
$183,500
Program service revenue
$2,215,258
Investment income
$17,674
Other revenue
-$2,480
Total assets, end of year
$1,251,817
Total liabilities, end of year
$238,421
Net assets or fund balances, end of year
$1,013,396
Program services expenses (Part IX)
$2,309,706
Management and general expenses
$291,035
Fundraising expenses
$43,157
Program service expenses (Part III)
$2,309,706

Program services were 87.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $14,012

  • 1f · All other contributions, gifts and grants

    $233,355

  • 2a · Program service revenue: CONTINUING EDUC. FEES

    total $2,203,418 · related or exempt $2,203,418

  • 2b · Program service revenue: REGISTRATION FEES

    total $11,840 · related or exempt $11,840

  • 3 · Investment income

    total $17,674 · excluded $17,674

  • 8a · Fundraising events: gross income

    $18,665

  • 8a · Fundraising events: contributions included on line 1c

    $14,012

  • 8b · Fundraising events: direct expenses

    $21,145

  • 8c · Net income from fundraising events

    total -$2,480 · excluded -$2,480

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,000 · program services $1,000

  • 2 · Grants to domestic individuals

    total $182,500 · program services $182,500

  • 11g · Fees: other

    total $1,100,000 · program services $765,808 · management and general $291,035 · fundraising $43,157

  • 13 · Office expenses

    total $8,791 · program services $8,791

  • 17 · Travel

    total $14,516 · program services $14,516

  • 19 · Conferences, conventions and meetings

    total $1,195,452 · program services $1,195,452

  • 24a · Other expenses: CREDIT CARD FEES

    total $53,395 · program services $53,395

  • 24b · Other expenses: STUDENT PROGRAMING

    total $27,605 · program services $27,605

  • 24e · All other expenses

    total $60,639 · program services $60,639

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $324,148 · end of year $205,552

  • 2 · Savings and temporary cash investments

    beginning of year $779,800 · end of year $399,722

  • 3 · Pledges and grants receivable

    beginning of year $12,400 · end of year $5,025

  • 9 · Prepaid expenses and deferred charges

    beginning of year $61,540 · end of year $144,449

  • 12 · Investments: other securities

    beginning of year $148,392 · end of year $408,202

  • 15 · Other assets

    beginning of year $258,208 · end of year $88,867

  • 17 · Accounts payable and accrued expenses

    beginning of year $63,099 · end of year $22,280

  • 18 · Grants payable

    beginning of year $182,500 · end of year $5,000

  • 19 · Deferred revenue

    beginning of year $172,401 · end of year $211,141

  • 27 · Net assets without donor restrictions

    beginning of year $1,119,877 · end of year $960,503

  • 28 · Net assets with donor restrictions

    beginning of year $46,611 · end of year $52,893

Mission and programs · 2024

Mission

THE MISSION OF THE MSCPA'S EDUCATIONAL FOUNDATION IS TO INSPIRE AND SUPPORT THE NEXT GENERATION OF CPAS IN MASSACHUSETTS.

Activities or mission (Part I)

THE EDUCATIONAL FOUNDATION OF THE MSCPA SUPPORTS THE CONTINUING PROFESSIONAL EDUCATION OF MEMBERS OF THE MSCPA, AS WELL AS NON-MEMBERS, BY PROVIDING SEMINARS, CONFERENCES, AND OTHER OFFERINGS WHICH ASSIST IN FULFILLING THE CERTIFICATION REQUIREMENTS REGARDING EDUCATION FOR CPA'S. IN ADDITION, THE FOUNDATION PROVIDES SCHOLARSHIPS, GRANTS, AND OTHER AWARDS TO RECOGNIZE AND ENCOURAGE STUDENTS WHO ARE ACTIVELY PURSUING A CAREER IN ACCOUNTING.

  • THE CPE PROGRAM PROVIDES A BROAD RANGE OF HIGH-QUALITY, COST EFFECTIVE CONTINUING EDUCATION THAT ASSISTS CPAS IN MEETING STATE LICENSING REQUIREMENTS AND IMPROVING THEIR PROFESSIONAL SKILLS. THE PROGRAM ACCOMPLISHES THIS THROUGH OUR SEMINARS, CONFERENCES, IN-HOUSE CPE, SELF STUDY AND WEBINARS. THE CPE PROGRAM OFFERS OVER 175 SEMINARS, 10 CONFERENCES, 4 INFOSHARES AND OVER 5,000 WEBINARS DONE IN BOTH LIVE AND VIRTUAL FORMATS. IN ADDITION, THE SOCIETY OFFERS 20 FREE CPE PROGRAMS, SO THEIR MEMBERS CAN EARN UP TO 20 CPE CREDITS AT NO ADDITIONAL COST.

    Expenses $1,891,846 · Revenue $2,203,418

  • THE EDUCATIONAL FOUNDATION GRANTS PROGRAM AWARDED 48 SCHOLARSHIPS TOTALING $183,500 TO ASSIST STUDENTS IN THE PURSUIT OF AN ACCOUNTING DEGREE.

    Expenses $417,860 · Grants $183,500 · Revenue $11,840

As filed on the 2024 return.

Listed in Part VII

  • ROBERT S MILLER

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.5

  • ZACHARY M DONAH

    TREASURER/SECRETARY

    Total calculated
    $294,329
    From this org
    $0
    From related orgs
    $260,671
    Other
    $33,658
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $239,388 related
    Bonus
    $0 + $19,297 related
    Other
    $0 + $1,986 related
    Deferred
    $0 + $21,246 related
    Nontaxable benefits
    $0 + $12,412 related
    Filer's total
    $0 + $294,329 related

  • JAMES CHRISTENSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARQUIS D COOPER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • SHANIKWA D DAVIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SOPHIA R ELTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • GABRIEL FERNANDEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • SANTIAGO A FERNANDEZ-SUAREZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • WILLIAM D MAHONEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JOHN M MICALIZZI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • AMY K PHELAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • AMY A PITTER

    DIRECTOR

    Total calculated
    $146,676
    From this org
    $0
    From related orgs
    $146,676
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $146,676 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $146,676 related

  • MARY-JOAN P POTVIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MELISSA J SAWYER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • KERRY A STAKEM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART II
THE COMPENSATION OF THE INDIVIDUALS LISTED IN PART VII AND SCHEDULE J WAS DETERMINED BY THE BOARD OF DIRECTORS OF A RELATED ENTITY, THE MASSACHUSETTS SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS, INC. ("SOCIETY"). IN ESTABLISHING THE COMPENSATION, THE SOCIETY'S BOARD USED A COMPENSATION COMMITTEE, AN INDEPENDENT CONSULTANT AND COMPENSATION SURVEYS. THE COMPENSATION AS APPROVED BY THE SOCIETY'S COMPENSATION COMMITTEE, THE SOCIETY'S FINANCE COMMITTEE AND THE SOCIETY'S BOARD OF DIRECTORS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
21 February 2026
IRS schema version
2024v5.5
Source object
202640569349300819

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