Accreditation Council For Accountancy And Taxation Inc
- Assets
- $774.9k
- Revenue
- $270.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 05/1974
- Data as of
- 08/2021
- 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 08/2021, Accreditation Council For Accountancy And Taxation Inc generated $270.6k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $261.8k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 6 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
2021
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 MAINTAIN 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.
THE COUNCIL PERIODICALLY UNDERTAKES A STUDY TO VERIFY THAT THE EXAMINATIONS WHICH IT IS CURRENTLY ADMINISTERING ARE ADEQUATELY AND VALIDLY TESTING THE PROFESSION'S PRACTICE AREAS.
IN THE LAST YEAR, 6 INDIVIDUALS EARNED THE ACCREDITED BUSINESS ACCOUNTANT (ACCREDITED BUSINESS ADVISOR) CERTIFICATION. 19 INDIVIDUALS EARNED THE ACCREDITED TAX PREPARER DESIGNATION, AND 3 INDIVIDUALS EARNED THE ACCREDITED TAX ADVISOR DESIGNATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Hunt EA ATA President | OfficerTrustee | 3 | $0 |
Mary Lemons EA Aba Vice President | OfficerTrustee | 1 | $0 |
John Rice CEO | Officer | 10 | $0 |
Janet Downs EA ATA Aba Ara Director | Trustee | 1 | $0 |
Josh Standley EA Aba Director | Trustee | 1 | $0 |
Susan M Strautman CPA Aba Director | 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 | $260,492 |
| Investment income | $10,019 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$293 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $270,567 |
| 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 | $199,500 |
| Fees for services: Legal | $2,884 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $300 |
| Fees for services: Other | $13,960 |
| Advertising and promotion | $7,052 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,856 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,446 |
| All other expenses | $0 |
| Total functional expenses | $261,791 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $223,827 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $284 |
| 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 | $6,875 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $543,871 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $774,857 |
| Accounts payable and accrued expenses | $41,825 |
| Grants payable | $0 |
| Deferred revenue | $168,880 |
| 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 | $210,705 |
| Net assets without donor restrictions | $564,152 |
| 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 | $774,857 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Freedomworks Inc Washington, DC | $3,468,084 | $5,609,429 |
Center For Strategic And Budgetary Assessments Washington, DC | $2,639,810 | $6,371,347 |
Council On State Taxation Washington, DC | $3,072,367 | $4,726,725 |
Committee For A Responsible Federal Budget Washington, DC | $2,854,266 | $5,338,402 |
Aga Alexandria, VA | $6,831,962 | $5,483,639 |
International Tax & Investment Center Washington, DC | $3,853,010 | $2,633,793 |
Prosperity Alliance Inc Fairfax, VA | $1,099,186 | $3,530,000 |
Operation Lifesaver Inc Washington, DC | $1,419,478 | $2,622,409 |
Republican Governors Public Policy Committee Washington, DC | $3,734,909 | $3,934,225 |
Commonwealth Institute For Fiscal Analysis Richmond, VA | $3,474,221 | $2,951,328 |
Taxpayers For Common Sense Washington, DC | $2,221,300 | $2,504,065 |
Native American Financial Services Association Washington, DC | $167,087 | $793,241 |