Accreditation Council For Accountancy And Taxation Inc
- Assets
- $642.4k
- Revenue
- $220.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 05/1974
- Data as of
- 08/2023
- EIN
- 23-7359633
Organization Overview
Accreditation Council For Accountancy And Taxation Inc is located in Alexandria, VA. The organization was established in 1974. According to its NTEE Classification (W22) the organization is classified as: Public Finance, Taxation & Monetary Policy, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Accreditation Council For Accountancy And Taxation Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 08/2023, Accreditation Council For Accountancy And Taxation Inc generated $220.5k 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 (3.5%) each year. All expenses for the organization totaled $255.4k during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (2.3%) 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
ACAT'S MISSION IS TO ACCREDIT PROFESSIONALS WHO HAVE DEMONSTRATED KNOWLEDGE OF THE PRINCIPLES, PRACTICES, AND ETHICAL STANDARDS OF ACCOUNTING, TAXATION, INFORMATION TECHNOLOGY AND RELATED FINANCIAL SERVICES IN ORDER TO MANTAIN THE HIGHEST LEVEL OF SERVICE TO THE PUBLIC; TO PROMOTE THE VALUE, RECOGNITION AND USE OF THE ACAT CREDENTIALS; TO PROTECT THE ABILITY TO USE THE EARNED CREDENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXAMINATIONS: THE COUNCIL ADMINISTERS AND GRADES EXAMS IN ACCOUNTING AND TAXATION TO HELP ASSURE THAT INDIVIDUALS APPLYING FOR ACCREDITATION HAVE THE NECESSARY SKILLS AND KNOWLEDGE IN THOSE FIELDS.
CERTIFICATES: AS A PART OF ITS EXAMINATION PROCESS THE COUNCIL PROVIDES RECOGNITION TO CANDIDATES WHO SUCCESSFULLY SATISFY EXAM REQUIREMENTS.
IN THE LAST YEAR, 6 INDIVIDUALS EARNED THE ACCREDITED BUSINESS ACCOUNTANT (ACCREDITED BUSINESS ADVISOR) CERTIFICATION. 19 INDIVIDUALS EARNED THE ACCREDITED TAX PREPARER DESIGNATION, 3 INDIVIDUALS EARNED THE ACCREDITED TAX ADVISOR DESIGNATION, AND 2 INDIVIDUALS EARNED THE ACCREDITED RETIREMENT ADVISOR DESIGNATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Caulfield CEO | 40 | $0 | |
Jesica Abella EA Aba Vice Preside | OfficerTrustee | 1 | $0 |
Mary A Lemons EA Aba President | OfficerTrustee | 1 | $0 |
Susan M Strautman CPA Aba Director | Trustee | 1 | $0 |
Janet C Downs EA ATA Aba Ara Secretary/tr | OfficerTrustee | 1 | $0 |
Cynthia Hunt EA ATA Past Preside | Trustee | 1 | $0 |
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 | $207,113 |
| Investment income | $13,386 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $220,543 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $198,000 |
| 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 | $300 |
| Fees for services: Other | $6,535 |
| Advertising and promotion | $30,075 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,303 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,663 |
| All other expenses | $0 |
| Total functional expenses | $255,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $213,571 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $428,866 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $642,437 |
| Accounts payable and accrued expenses | $20,005 |
| Grants payable | $0 |
| Deferred revenue | $137,188 |
| 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 | $157,193 |
| Net assets without donor restrictions | $485,244 |
| 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 | $642,437 |