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← MASSACHUSETTS SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS INC

Form 990 for tax year 2022

Filed by MASSACHUSETTS SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS INC.

Totals

Total revenue
$4,107,303
Total expenses
$4,322,509
Contributions and grants received
$0
Grants paid
$26,000
Program service revenue
$4,033,976
Investment income
$73,327
Other revenue
$0
Total assets, end of year
$5,435,333
Total liabilities, end of year
$1,748,192
Net assets or fund balances, end of year
$3,687,141
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 $3,364,585 · related or exempt $3,364,585

  • 2b · Program service revenue: QUALITY REVIEW PROGRAM

    total $323,669 · related or exempt $323,669

  • 2c · Program service revenue: ADVERTISING IN PUBLICA

    total $140,631 · unrelated business $140,631

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

    total $94,946 · related or exempt $94,946

  • 2e · Program service revenue: OTHER ADVERTISING

    total $67,552 · unrelated business $67,552

  • 2f · All other program service revenue

    total $42,593 · related or exempt $18,472 · unrelated business $24,121

  • 3 · Investment income

    total $97,565 · excluded $97,565

  • 7a · Gross sales of assets other than inventory

    securities $386,018

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

    securities $410,256

  • 7c · Gain or loss

    securities -$24,238

  • 7d · Net gain or loss

    total -$24,238 · excluded -$24,238

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $26,000

  • 5 · Compensation of officers, directors and key employees

    total $641,374

  • 7 · Other salaries and wages

    total $2,158,155

  • 8 · Pension plan contributions

    total $184,028

  • 9 · Other employee benefits

    total $246,636

  • 10 · Payroll taxes

    total $197,113

  • 11b · Fees: legal

    total $9,540

  • 11c · Fees: accounting

    total $196,648

  • 11d · Fees: lobbying

    total $41,000

  • 11f · Fees: investment management

    total $14,329

  • 11g · Fees: other

    total $261,560

  • 12 · Advertising and promotion

    total $62,586

  • 13 · Office expenses

    total $233,803

  • 14 · Information technology

    total $191,563

  • 16 · Occupancy

    total $130,804

  • 17 · Travel

    total $66,953

  • 19 · Conferences, conventions and meetings

    total $136,064

  • 20 · Interest

    total $1,288

  • 22 · Depreciation, depletion and amortization

    total $141,311

  • 23 · Insurance

    total $31,051

  • 24a · Other expenses: DUES, SUBSCRIPTIONS AND

    total $29,097

  • 24b · Other expenses: UBIT TAX EXPENSE

    total $6,500

  • 24c · Other expenses: OTHER REIMBURSED COSTS

    total -$725,000

  • 24e · All other expenses

    total $40,106

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $625,763 · end of year $739,756

  • 2 · Savings and temporary cash investments

    beginning of year $730,051 · end of year $401,209

  • 4 · Accounts receivable

    beginning of year $65,849 · end of year $56,679

  • 9 · Prepaid expenses and deferred charges

    beginning of year $123,110 · end of year $155,956

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

    $2,849,386

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

    $2,332,931

  • 10c · Land, buildings and equipment, net

    beginning of year $593,522 · end of year $516,455

  • 11 · Investments: publicly traded securities

    beginning of year $3,443,469 · end of year $3,528,881

  • 14 · Intangible assets

    end of year $36,397

  • 17 · Accounts payable and accrued expenses

    beginning of year $475,798 · end of year $433,006

  • 19 · Deferred revenue

    beginning of year $608,912 · end of year $601,047

  • 25 · Other liabilities

    beginning of year $627,197 · end of year $714,139

  • 27 · Net assets without donor restrictions

    beginning of year $3,869,857 · end of year $3,687,141

Mission and programs · 2022

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 1,310 MEMBERS, ADDRESS CURRENT TOPICS, CHALLENGES AND RELEVANT REGULATIONS. THE SOCIETY HOSTS 15 LIVE AND VIRTUAL NETWORKING EVENTS AND 5 ROUNDTABLE GROUPS, HOLDING 36 ROUNDTABLE EVENTS FOR MEMBERS IN FY23.

  • 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 577 FIRMS ENROLLED IN THE PROGRAM AND OVER 202 REVIEWS WERE ADMINISTERED IN 2023.

  • OTHER PROGRAMS COMPRISE THE LEGISLATION AND GOVERNMENT AFFAIRS PROGRAM.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • KAREN B MCELROY

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • LAURA P O'BRIEN

    CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    1

  • CAROL RUIZ

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOHN D GERACI

    VICE-CHAIR AUDIT

    Total calculated
    $0
    Hours/week
    1

  • LAURA L FELICE

    VICE CHAIR - FINANCE

    Total calculated
    $0
    Hours/week
    1

  • ROBERT S MILLER

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1 + 0.5 related

  • 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

  • LAUREN DAVIDES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MATTHEW J DYMENT

    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

  • DECLAN E LEE

    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

  • JULIE M QUINK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SANDRA RICHTERMEYER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AMY A PITTER

    PRESIDENT/CEO/SEC/TREAS

    Total calculated
    $397,337
    From this org
    $342,040
    From related orgs
    $0
    Other
    $55,297
    Hours/week
    38 + 2 related

    Schedule J breakdown matched by us

    Base
    $268,359
    Bonus
    $36,476
    Other
    $37,205
    Deferred
    $27,255
    Nontaxable benefits
    $28,042
    Filer's total
    $397,337

  • KARA KIERAN

    COO

    Total calculated
    $195,129
    From this org
    $159,014
    From related orgs
    $0
    Other
    $36,115
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,336
    Bonus
    $12,318
    Other
    $1,360
    Deferred
    $11,000
    Nontaxable benefits
    $25,115
    Filer's total
    $195,129

  • ZACHARY DONAH

    DEPUTY CEO

    Total calculated
    $183,621
    From this org
    $160,587
    From related orgs
    $0
    Other
    $23,034
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,517
    Bonus
    $9,726
    Other
    $344
    Deferred
    $11,585
    Nontaxable benefits
    $11,449
    Filer's total
    $183,621

  • JULIA BOWKER-EKELUND

    VICE PRESIDENT, LEARNING

    Total calculated
    $199,340
    From this org
    $158,135
    From related orgs
    $0
    Other
    $41,205
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $147,979
    Bonus
    $9,726
    Other
    $430
    Deferred
    $13,911
    Nontaxable benefits
    $27,294
    Filer's total
    $199,340

  • ELIZABETH EMANUELSON

    VICE PRESIDENT, COMMMUNICATIONS

    Total calculated
    $159,927
    From this org
    $148,451
    From related orgs
    $0
    Other
    $11,476
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,724
    Bonus
    $10,054
    Other
    $9,673
    Deferred
    $9,166
    Nontaxable benefits
    $2,310
    Filer's total
    $159,927

  • KRISTEN WELLS

    SENIOR DIRECTOR OF BUSINESS DEVELOPMENT AND EVENTS

    Total calculated
    $147,140
    From this org
    $113,187
    From related orgs
    $0
    Other
    $33,953
    Hours/week
    40

  • LAWRENCE LIUZZO

    SENIOR DIRECTOR GOVERNMENT

    Total calculated
    $119,647
    From this org
    $112,740
    From related orgs
    $0
    Other
    $6,907
    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 AWARDS · MA · controlled entity

    Directly controlled by MASSACHUSETTS SOCIETY OF CPA'S INC

Provenance

Return type
form_990
Tax year
2022
Filed
15 January 2024
IRS schema version
2022v5.0
Source object
202400169349300950

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