Form 990 for tax year 2023

Totals

Total revenue

$226,407

Total expenses

$222,933

Contributions and grants received

$69,065

Grants paid

$159,040

Program service revenue

$0

Investment income

$157,342

Other revenue

$0

Total assets, end of year

$2,828,403

Total liabilities, end of year

$440,976

Net assets or fund balances, end of year

$2,387,427

Program services expenses (Part IX)

$197,634

Management and general expenses

$24,712

Fundraising expenses

$587

Program service expenses (Part III)

$197,634

Program services were 88.7% 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.

Mission and programs · 2023

• MSF'S EXCELLENCE IN ACCOUNTING SCHOLARSHIP OFFERS AN ANNUAL SCHOLARSHIP TO PROVIDE FINANCIAL ASSISTANCE TO QUALIFIED CANDIDATES WHO INTEND TO ENTER THE ACCOUNTING PROFESSION. MSF AWARDED 65 EXCELLENCE IN ACCOUNTING SCHOLARSHIPS TO COLLEGE STUDENTS IN THE 2023/2024 FISCAL YEAR. THE SCHOLARSHIPS AWARD AMOUNTS VARY, WITH A MAXIMUM AMOUNT OF $2,500 PER AWARD. TO BE ELIGIBLE, COLLEGE STUDENTS MUST BE ACCOUNTING MAJORS, HAVE COMPLETED A MINIMUM OF 60 CREDITS AND MAINTAIN A MINIMUM OF A 3.0 GRADE POINT AVERAGE. STUDENTS MUST ALSO HAVE FILED A FREE APPLICATION FOR FEDERAL STUDENT AID AND BE APPROVED FOR FINANCIAL AID. THE SCHOLARSHIPS ARE NON-RENEWABLE; RECIPIENTS AND CANDIDATES MUST APPLY ANNUALLY. A DESIGNATED MSF CAMPUS AMBASSADOR WORKS WITH THE CAMPUS ACCOUNTING DEPARTMENT AND THE COLLEGE FINANCIAL AID OFFICE TO SELECT THREE DESERVING CANDIDATES BASED ON SCHOLARSHIP AND FINANCIAL NEED. THESE CANDIDATES ARE THEN FORWARDED TO A STATEWIDE SELECTION COMMITTEE OF MEMBERS OF THE NYCPA. MSF AWARDS A SCHOLARSHIP TO AT LEAST ONE STUDENT IN MOST COLLEGE ACCOUNTING PROGRAMS IN THE STATE.

  Expenses $158,102 · Grants $155,040

• THE CAREER OPPORTUNITIES IN THE ACCOUNTING PROFESSION (COAP) PROGRAM IS A SUMMER PROGRAM HOSTED AT COLLEGE CAMPUSES ACROSS NEW YORK STATE AND FUNDED BY MSF. MSF PROVIDES SCHOLARSHIPS TO PARTICIPANTS OF THE COAP PROGRAM FOR THE PURSUIT OF HIGHER-EDUCATION DEGREES IN ACCOUNTING.THE COAP PROGRAM IS OPEN TO ALL, REGARDLESS OF RACE, COLOR, NATIONAL ORIGIN, OR SEX. RECRUITMENT FOCUSES ON GROUPS HISTORICALLY UNDERREPRESENTED IN THE ACCOUNTING PROFESSION. IT AIMS TO EXCITE AND INFORM STUDENT PARTICIPANTS ABOUT CAREERS IN ACCOUNTING AND PROVIDE OPPORTUNITIES TO INTERACT WITH SUCCESSFUL ROLE MODELS WHILE GAINING EXPOSURE TO THE CORPORATE ENVIRONMENT. THE FIRST COAP PROGRAM WAS OFFERED AT PACE UNIVERSITY IN 1987, AND PROGRAMS HAVE EXPANDED SIGNIFICANTLY WITH MORE THAN 97 STUDENTS PARTICIPATING AT VARIOUS COLLEGES ACCROSS THE STATE IN FISCAL YEAR 2023/24. SINCE THE PROGRAM'S INCEPTION OVER 4,372 STUDENTS HAVE GRADUATED FROM THE COAP PROGRAM. MANY OF THESE STUDENTS HAVE GONE ON TO PURSUE CAREERS IN ACCOUNTING OR BUSINESS. DURING THE PROGRAM, WHICH LASTS THREE TO FIVE DAYS, HIGH SCHOOL STUDENTS EXPERIENCE COLLEGE LIFE AND LEARN ABOUT THE ACCOUNTING PROFESSION THROUGH TRIPS TO LOCAL CPA FIRMS AND CORPORATE FINANCE DEPARTMENTS. THEY ALSO PARTICIPATE IN SPECIFICALLY DESIGNED WORKSHOPS AND CLASSES THAT TEACH THEM PERSONAL DEVELOPMENT, COMMUNICATION SKILLS, BUSINESS ETHICS, AND INTERVIEWING SKILLS. STUDENTS ARE ACCEPTED TO THE PROGRAM THROUGH AN APPLICATION PROCESS OVERSEEN BY THE NEW YORK STATE SOCIETY OF CPAS. MSF AWARDED 2 COAP SCHOLARSHIPS IN THE 2023/2024 FISCAL YEAR.

  Expenses $39,532 · Grants $4,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

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.

• THE NEW YORK STATE SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS

  501(C)(6) · PROFESSIONAL SOCIETY · NY

• FOUNDATION FOR ACCOUNTING EDUCATION INC

  501(C)(3) · EDUCATION · NY

  Directly controlled by THE NEW YORK STATE SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS

Provenance

Return type

form_990

Tax year

2023

Filed

8 April 2025

IRS schema version

2023v6.0

Source object

202530999349300723

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