Form 990 for tax year 2023
Filed by EDUCATIONAL FOUNDATION OF THE MASSACHUSETTS SOCIETY OF CERTIFIED.
Totals
- Total revenue
- $2,614,154
- Total expenses
- $2,601,985
- Contributions and grants received
- $230,490
- Grants paid
- $179,285
- Program service revenue
- $2,366,994
- Investment income
- $20,841
- Other revenue
- -$4,171
- Total assets, end of year
- $1,584,488
- Total liabilities, end of year
- $418,000
- Net assets or fund balances, end of year
- $1,166,488
- Program services expenses (Part IX)
- $2,338,767
- Management and general expenses
- $236,967
- Fundraising expenses
- $26,251
- Program service expenses (Part III)
- $2,338,767
Program services were 89.9% 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
$18,249
-
1f · All other contributions, gifts and grants
$212,241
-
2a · Program service revenue: CONTINUING EDUC. FEES
total $2,358,709 · related or exempt $2,358,709
-
2b · Program service revenue: REGISTRATION FEES
total $8,285 · related or exempt $8,285
-
3 · Investment income
total $20,841 · excluded $20,841
-
8a · Fundraising events: gross income
$15,790
-
8a · Fundraising events: contributions included on line 1c
$18,249
-
8b · Fundraising events: direct expenses
$19,961
-
8c · Net income from fundraising events
total -$4,171 · excluded -$4,171
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $600 · program services $600
-
2 · Grants to domestic individuals
total $178,685 · program services $178,685
-
11g · Fees: other
total $1,075,000 · program services $811,782 · management and general $236,967 · fundraising $26,251
-
13 · Office expenses
total $14,903 · program services $14,903
-
17 · Travel
total $9,293 · program services $9,293
-
19 · Conferences, conventions and meetings
total $1,201,516 · program services $1,201,516
-
24a · Other expenses: CREDIT CARD FEES
total $47,153 · program services $47,153
-
24b · Other expenses: STUDENT PROGRAMING
total $9,789 · program services $9,789
-
24e · All other expenses
total $65,046 · program services $65,046
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $267,984 · end of year $324,148
-
2 · Savings and temporary cash investments
beginning of year $704,589 · end of year $779,800
-
3 · Pledges and grants receivable
beginning of year $26,563 · end of year $12,400
-
9 · Prepaid expenses and deferred charges
beginning of year $52,353 · end of year $61,540
-
12 · Investments: other securities
end of year $148,392
-
15 · Other assets
beginning of year $451,722 · end of year $258,208
-
17 · Accounts payable and accrued expenses
beginning of year $24,906 · end of year $63,099
-
18 · Grants payable
beginning of year $175,500 · end of year $182,500
-
19 · Deferred revenue
beginning of year $151,436 · end of year $172,401
-
27 · Net assets without donor restrictions
beginning of year $1,129,739 · end of year $1,119,877
-
28 · Net assets with donor restrictions
beginning of year $21,630 · end of year $46,611
Mission and programs · 2023
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 150 SEMINARS, 10 CONFERENCES 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 COST.
Expenses $1,962,625 · Revenue $2,358,709
-
THE EDUCATIONAL FOUNDATION GRANTS PROGRAM AWARDED 51 SCHOLARSHIPS TOTALING $182,500 TO ASSIST STUDENTS IN THE PURSUIT OF AN ACCOUNTING DEGREE.
Expenses $376,142 · Grants $179,285 · Revenue $8,285
As filed on the 2023 return.
Listed in Part VII
-
Robert S MillerROBERT S MILLER
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 0.5
-
Amy A PitterAMY A PITTER
TREASURER/SECRETARY THROUGH 12/23
- Total calculated
- $457,112
- From this org
- $0
- From related orgs
- $399,773
- Other
- $57,339
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $294,966 related
- Bonus
- $0 + $66,278 related
- Other
- $0 + $38,529 related
- Deferred
- $0 + $25,682 related
- Nontaxable benefits
- $0 + $31,657 related
- Filer's total
- $0 + $457,112 related
-
Zachary M DonahZACHARY M DONAH
TREASURER/SECRETARY EFFECTIVE 1/24
- Total calculated
- $226,905
- From this org
- $0
- From related orgs
- $200,552
- Other
- $26,353
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $188,315 related
- Bonus
- $0 + $11,751 related
- Other
- $0 + $486 related
- Deferred
- $0 + $14,226 related
- Nontaxable benefits
- $0 + $12,127 related
- Filer's total
- $0 + $226,905 related
-
James ChristensonJAMES CHRISTENSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Marquis D CooperMARQUIS D COOPER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 1 related
-
Shanikwa D DavisSHANIKWA D DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Sophia R EltonSOPHIA R ELTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Gabriel FernandezGABRIEL FERNANDEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Santiago A Fernandez-SuarezSANTIAGO A FERNANDEZ-SUAREZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
William D MahoneyWILLIAM D MAHONEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
John M MicalizziJOHN M MICALIZZI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Amy K PhelanAMY K PHELAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 1 related
-
Mary-Joan P PotvinMARY-JOAN P POTVIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Melissa J SawyerMELISSA J SAWYER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Kerry A StakemKERRY 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.
-
MASSACHUSETTS SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS INC
501(C)(6) · PROFESSIONAL AND MEMBERSHIP SERVICES PROVIDED TO MEMBERS · MA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 10 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202540429349301664
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.