Njcpa Education Foundation Inc
- Assets
- $2.5m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 30
- Location
- Roseland, NJ
- Founding
- 07/1991
- Data as of
- 05/2023
- EIN
- 22-3100961
Organization Overview
Njcpa Education Foundation Inc is located in Roseland, NJ. The organization was established in 1991. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 05/2023, Njcpa Education Foundation Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Njcpa Education Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2023, Njcpa Education Foundation Inc generated $2.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.1%) each year. All expenses for the organization totaled $2.3m during the year ending 05/2023. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE OTO FACILITATE THE ACQUISITION OF KNOWLEDGE AND SKILLS BY PROVIDING MEMBERS OF NJCPA AND THEIR STAFF WITH COST EFFECTIVE, HIGH QUALITY, MARKET DRIVEN EDUCATIONAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OTHE EDUCATION FOUNDATION PROVIDED EDUCATIONAL PROGRAMS TO OVER 28,000 PARTICIPANTS DURING THE FILING PERIOD, PROVIDING MORE THAN 60,000 CREDIT HOURS OF CONTINUING PROFESSIONAL EDUCATION (CPE). THIS WAS ACHIEVED THROUGH THE FOLLOWING COMPLIMENT OF PROGRAMS: 205 EXECUTIVE SEMINARS - PRIMARILY ONE-DAY PROGRAMS TARGETED AT CPAS IN PUBLIC PRACTICE; 21 CONFERENCES AND SPECIAL EVENTS - RANGING FROM BREAKFAST AND DINNER MEETINGS TO CONVENTIONS AND TRADE SHOWS 7 CHAPTER MEETINGS - RANGING FROM BREAKFAST AND DINNER MEETINGS TO FULL-DAY TAX AND ACCOUNTING PROGRAMS, AS WELL AS TRAINING IN NJ LAW AND ETHICS; 13 ON-SITE MEETINGS - HALF-DAY AND FULL-DAY PROGRAMS DELIVERED AT THE OFFICES OF FIRMS AND COMPANIES; 87 WEBINARS - PRIMARILY TECHNICAL PROGRAMS, INCLUDING NJ LAW & ETHICS, DELIVERED VIA THE WEB THAT RANGE FROM ONE TO FOUR HOURS IN LENGTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Albert Thomas CEO & Executive Director | OfficerTrustee | 2 | $12,159 |
Kathleen Powers President | OfficerTrustee | 1 | $0 |
Edwaad G Oconnell President Elect (as Of 6/22) | OfficerTrustee | 0.5 | $0 |
Harry Wills Past President | OfficerTrustee | 0.5 | $0 |
John M Szczomak Secretary (as Of 6/22) | OfficerTrustee | 0.3 | $0 |
June M Toth Treasurer | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Loscalzo Institute Cpe | 5/30/19 | $107,965 |
Surgent Mccoy Cpe | 5/30/19 | $208,056 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,165,891 |
| Investment income | $32,453 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,520 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,216,864 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,640 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $145,607 |
| Compensation of current officers, directors, key employees. | $43,922 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $709,156 |
| Pension plan accruals and contributions | $36,732 |
| Other employee benefits | $60,773 |
| Payroll taxes | $59,732 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,622 |
| Fees for services: Other | $7,340 |
| Advertising and promotion | $0 |
| Office expenses | $12,683 |
| Information technology | $59,549 |
| Royalties | $0 |
| Occupancy | $100,000 |
| Travel | $1,765 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $940,416 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,594 |
| Insurance | $12,000 |
| All other expenses | $0 |
| Total functional expenses | $2,288,835 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $383,560 |
| Savings and temporary cash investments | $322,158 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,725 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $307,122 |
| Net Land, buildings, and equipment | $119,365 |
| Investments—publicly traded securities | $1,382,084 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,467 |
| Total assets | $2,549,481 |
| Accounts payable and accrued expenses | $26,868 |
| Grants payable | $0 |
| Deferred revenue | $644,073 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $670,941 |
| Net assets without donor restrictions | $1,878,540 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,549,481 |