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← MASSACHUSETTS SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS INC

Form 990 for tax year 2023

Filed by MASSACHUSETTS SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS INC.

Totals

Total revenue
$4,317,476
Total expenses
$4,264,319
Contributions and grants received
$0
Grants paid
$26,250
Program service revenue
$4,159,048
Investment income
$158,428
Other revenue
$0
Total assets, end of year
$5,940,309
Total liabilities, end of year
$1,911,837
Net assets or fund balances, end of year
$4,028,472
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $3,490,725 · related or exempt $3,490,725

  • 2b · Program service revenue: QUALITY REVIEW PROGRAM

    total $316,379 · related or exempt $316,379

  • 2c · Program service revenue: ADVERTISING IN PUBLICA

    total $140,867 · unrelated business $140,867

  • 2d · Program service revenue: MEETINGS & EVENTS - RE

    total $132,181 · related or exempt $132,181

  • 2e · Program service revenue: OTHER ADVERTISING

    total $58,945 · unrelated business $58,945

  • 2f · All other program service revenue

    total $19,951 · related or exempt $5,492 · unrelated business $14,459

  • 3 · Investment income

    total $160,296 · excluded $160,296

  • 7a · Gross sales of assets other than inventory

    securities $215,721

  • 7b · Less cost or other basis and sales expenses

    securities $217,589

  • 7c · Gain or loss

    securities -$1,868

  • 7d · Net gain or loss

    total -$1,868 · excluded -$1,868

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $26,250

  • 5 · Compensation of officers, directors and key employees

    total $964,106

  • 7 · Other salaries and wages

    total $1,877,347

  • 8 · Pension plan contributions

    total $173,629

  • 9 · Other employee benefits

    total $272,857

  • 10 · Payroll taxes

    total $208,027

  • 11b · Fees: legal

    total $34,507

  • 11c · Fees: accounting

    total $214,008

  • 11d · Fees: lobbying

    total $43,000

  • 11f · Fees: investment management

    total $16,259

  • 11g · Fees: other

    total $367,435

  • 12 · Advertising and promotion

    total $63,875

  • 13 · Office expenses

    total $220,518

  • 14 · Information technology

    total $225,999

  • 16 · Occupancy

    total $129,996

  • 17 · Travel

    total $74,506

  • 19 · Conferences, conventions and meetings

    total $163,434

  • 20 · Interest

    total $1,325

  • 22 · Depreciation, depletion and amortization

    total $154,322

  • 23 · Insurance

    total $33,397

  • 24a · Other expenses: DUES, SUBSCRIPTIONS AND

    total $40,201

  • 24b · Other expenses: UBIT TAX EXPENSE

    total $7,000

  • 24c · Other expenses: OTHER REIMBURSED COSTS

    total -$1,075,000

  • 24e · All other expenses

    total $27,321

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $739,756 · end of year $468,441

  • 2 · Savings and temporary cash investments

    beginning of year $401,209 · end of year $409,450

  • 4 · Accounts receivable

    beginning of year $56,679 · end of year $40,361

  • 9 · Prepaid expenses and deferred charges

    beginning of year $155,956 · end of year $174,714

  • 10a · Land, buildings and equipment: cost or other basis

    $2,890,609

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,476,054

  • 10c · Land, buildings and equipment, net

    beginning of year $516,455 · end of year $414,555

  • 12 · Investments: other securities

    beginning of year $3,528,881 · end of year $4,407,590

  • 14 · Intangible assets

    beginning of year $36,397 · end of year $25,198

  • 17 · Accounts payable and accrued expenses

    beginning of year $433,006 · end of year $418,582

  • 19 · Deferred revenue

    beginning of year $601,047 · end of year $1,082,902

  • 25 · Other liabilities

    beginning of year $714,139 · end of year $410,353

  • 27 · Net assets without donor restrictions

    beginning of year $3,687,141 · end of year $4,028,472

Mission and programs · 2023

Mission

TO PROTECT, ENHANCE, AND PROMOTE THE VALUE OF BEING A CPA IN MASSACHUSETTS

Activities or mission (Part I)

TO PROTECT, ENHANCE, AND PROMOTE THE VALUE OF BEING A CPA IN MASSACHUSETTS.

  • THE MASSACHUSETTS SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS, INC. ("SOCIETY") IS THE STATE'S PREMIER PROFESSIONAL ORGANIZATION OF MORE THAN 11,000 CERTIFIED PUBLIC ACCOUNTANTS AND ACCOUNTING PROFESSIONALS. THE SOCIETY PROVIDES ITS MEMBERS WITH CUTTING EDGE AND UP TO DATE INFORMATION RELEVANT TO ITS MEMBERS THROUGH THE SOCIETY'S WEBSITE, A BI-MONTHLY MAGAZINE AND A TARGETED ELECTRONIC NEWSLETTER. IN ADDITION, THE SOCIETY OFFERS OPPORTUNITIES FOR PEER-TO-PEER REGIONAL NETWORKING THROUGH A SERIES OF ROUNDABLE AND MENTOR CIRCLES. THE SOCIETY HAS 18 COMMITTEES COVERING AREAS OF INTEREST TO THE MEMBERS. THE COMMITTEES, COMPRISED OF 1,157 MEMBERS, ADDRESS CURRENT TOPICS, CHALLENGES AND RELEVANT REGULATIONS. THE SOCIETY HOSTS 17 LIVE AND VIRTUAL NETWORKING EVENTS AND 5 ROUNDTABLE GROUPS, HOLDING 28 ROUNDTABLE EVENTS FOR MEMBERS IN FY24.

  • THE SOCIETY'S PUBLIC AWARENESS PROGRAM SEEKS TO RAISE AWARENESS OF AND INTEREST IN ACCOUNTING AS A CAREER; INCREASE PUBLIC UNDERSTANDING OF CPAS AND THE SERVICES THEY PROVIDE; AND COMMUNICATE THE EXPERTISE AND VALUE ACCOUNTING PROFESSIONALS BRING TO THEIR CLIENTS, BUSINESSES AND THE COMMUNITIES IN WHICH THEY LIVE AND WORK. THE PROGRAM ALSO INCLUDES INITIATIVES TO RAISE AWARENESS OF THE SOCIETY AND ELEVATE THE POSITION OF ITS LEADERS WITHIN THE ACCOUNTING AND BUSINESS COMMUNITIES. THE IMAGE CAMPAIGN PROMOTES THE VALUE OF THE CPA DESIGNATION THROUGH DIFFERENT MEDIUMS IN AN EFFORT TO REACH THE GENERAL PUBLIC AND SMALL BUSINESSES THAT NEED CPA SERVICES. THIS INCLUDES SPONSORING PROFESSIONAL SERVICES SECTIONS WITHIN THE BOSTON BUSINESS JOURNAL, AS WELL AS PLACING PRINT ADVERTISING THAT ADVANCES THE IMAGE OF CPA'S AS VALUE-ADDED ADVISORS THAT CAN MAKE A SIGNIFICANT CONTRIBUTION TO THE SUCCESS OF OWNER-OPERATED BUSINESSES IN MASSACHUSETTS.

  • SINCE 1988, THE SOCIETY HAS ADMINISTERED THE AICPA'S PEER REVIEW PROGRAM. THIS PROGRAM HELPS FIRMS MEET THE LICENSING REQUIREMENT FOR THE STATE OF MASSACHUSETTS. THERE ARE APPROXIMATELY 500 FIRMS ENROLLED IN THE PROGRAM AND OVER 150 REVIEWS WERE ADMINISTERED THROUGH MAY 2024. THE PEER REVIEW PROGRAM WAS TRANSITIONED TO NEW ENGLAND PEER REVIEW IN MAY 2024.

  • OTHER PROGRAMS COMPRISE THE LEGISLATION AND GOVERNMENT AFFAIRS PROGRAM.

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

Listed in Part VII

  • LAURA P O'BRIEN

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • LAURA L FELICE

    CHAIR ELECT

    Total calculated
    $0
    Hours/week
    1

  • SANDRA RICHTERMEYER

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CAROL L RUIZ

    VICE-CHAIR AUDIT

    Total calculated
    $0
    Hours/week
    1

  • DECLAN E LEE

    VICE CHAIR - FINANCE

    Total calculated
    $0
    Hours/week
    1

  • KAREN B MCELROY

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MARK A AUDI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHARLOTTE L CATHRO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARQUIS D COOPER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • MATTHEW J DYMENT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MOLLY GRIFFITHS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROSA JARDIM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ADNANI M JOHARI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOSHUA P LAPAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ARTHUR R MARSHALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AMY K PHELAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • LINDA M SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATIE SOULE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AMY A PITTER

    PRES/CEO/SEC/TREAS THROUGH 12/23

    Total calculated
    $457,112
    From this org
    $399,773
    From related orgs
    $0
    Other
    $57,339
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $294,966
    Bonus
    $66,278
    Other
    $38,529
    Deferred
    $25,682
    Nontaxable benefits
    $31,657
    Filer's total
    $457,112

  • ZACHARY DONAH

    PRES/CEO/SEC/TREAS EFF. 1/24

    Total calculated
    $226,905
    From this org
    $200,552
    From related orgs
    $0
    Other
    $26,353
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $188,315
    Bonus
    $11,751
    Other
    $486
    Deferred
    $14,226
    Nontaxable benefits
    $12,127
    Filer's total
    $226,905

  • KARA KIERAN

    COO

    Total calculated
    $216,028
    From this org
    $172,211
    From related orgs
    $0
    Other
    $43,817
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,584
    Bonus
    $10,491
    Other
    $2,136
    Deferred
    $12,396
    Nontaxable benefits
    $31,421
    Filer's total
    $216,028

  • JULIA BOWKER-EKELUND

    VICE PRESIDENT, LEARNING

    Total calculated
    $219,277
    From this org
    $176,359
    From related orgs
    $0
    Other
    $42,918
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,920
    Bonus
    $10,491
    Other
    $9,948
    Deferred
    $14,094
    Nontaxable benefits
    $28,824
    Filer's total
    $219,277

  • ELIZABETH EMANUELSON

    VICE PRESIDENT, COMMMUNICATIONS

    Total calculated
    $166,916
    From this org
    $156,564
    From related orgs
    $0
    Other
    $10,352
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,627
    Bonus
    $10,491
    Other
    $9,446
    Deferred
    $8,220
    Nontaxable benefits
    $2,132
    Filer's total
    $166,916

  • KRISTEN WELLS

    SR. DIRECTOR OF BUSINESS DEVELOPMENT

    Total calculated
    $160,580
    From this org
    $121,025
    From related orgs
    $0
    Other
    $39,555
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,224
    Bonus
    $10,491
    Other
    $310
    Deferred
    $8,592
    Nontaxable benefits
    $30,963
    Filer's total
    $160,580

  • LINDSEY BAKER

    DIRECTOR OF COMMUNICATIONS

    Total calculated
    $139,603
    From this org
    $103,099
    From related orgs
    $0
    Other
    $36,504
    Hours/week
    40

  • ALLIE ORLANDO

    DIRECTOR OF ACADEMIC AND CAREER DEVELOPMENT

    Total calculated
    $122,308
    From this org
    $103,030
    From related orgs
    $0
    Other
    $19,278
    Hours/week
    40

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

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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

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.

  • EDUCATIONAL FOUNDATION OF THE MSCPA

    501(C)(3) · PROFESSIONAL EDUCATION AND SCHOLARSHIPS, GRANTS AND OTHER PROGRAMS · MA · controlled entity

    Directly controlled by MASSACHUSETTS SOCIETY OF CPA'S INC

Provenance

Return type
form_990
Tax year
2023
Filed
10 February 2025
IRS schema version
2023v6.0
Source object
202510429349301806

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