Washington Cpa Foundation
- Assets
- $5.6m
- Revenue
- $308.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Bellevue, WA
- Founding
- 05/1975
- Data as of
- 05/2022
- EIN
- 23-7447914
Organization Overview
Washington Cpa Foundation is located in Bellevue, WA. The organization was established in 1975. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Cpa Foundation 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 05/2022, Washington Cpa Foundation generated $308.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.0%) each year. All expenses for the organization totaled $211.8k during the year ending 05/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE WASHINGTON CPA FOUNDATION IS TO STRENGTHEN AND EXPAND THE PROFESSION BY ADVANCING AND INVESTING IN THE ACCOUNTING PROFESSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WASHINGTON CPA FOUNDATION PROVIDES SCHOLARSHIPS FOR COLLEGE-LEVEL ACCOUNTING STUDENTS AND PHD CANDIDATES, TO ENHANCE THE KNOWLEDGE WITHIN THE ACCOUNTING PROFESSION. IN ADDITION, THE FOUNDATION PROVIDES GRANTS TO ORGANIZATIONS WITH PROGRAMS OR EVENTS DESIGNED TO IMPROVE THE DIVERSITY OF THE CPA PIPELINE IN WASHINGTON.
THE FOUNDATION ADMINISTERS THE WASHINGTON STATE CERTIFIED PUBLIC ACCOUNTANT SCHOLARSHIP PROGRAM UNDER AN AGREEMENT WITH THE WASHINGTON STATE BOARD OF ACCOUNTANCY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Burger Mackey President | OfficerTrustee | 0.5 | $0 |
Martha Ramirez Vice President | OfficerTrustee | 0.5 | $0 |
Elizabeth Masnari Treasurer | OfficerTrustee | 0.5 | $0 |
Kimberly Scott Wscpa President & Foundation Ed | Officer | 2 | $0 |
Charles Nathan III Past President | Trustee | 0.5 | $0 |
Jacqueline Davidson Trustee | Trustee | 0.5 | $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 | $151,713 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $151,713 |
| Total Program Service Revenue | $25,000 |
| Investment income | $44,577 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $86,736 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $308,026 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,940 |
| Grants and other assistance to domestic individuals. | $143,000 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,010 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,923 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $31,925 |
| Total functional expenses | $211,798 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $95,702 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,056 |
| 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 | $2,973,034 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,554,266 |
| Total assets | $5,633,058 |
| Accounts payable and accrued expenses | $144,704 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,554,266 |
| Total liabilities | $2,698,970 |
| Net assets without donor restrictions | $616,496 |
| Net assets with donor restrictions | $2,317,592 |
| 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 | $5,633,058 |
Grants Awarded
Over the last fiscal year, Washington Cpa Foundation has awarded $12,478 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SPSCC PURPOSE: ACCOUNTING PROGRAM | $5,000 |
Tacoma, WA PURPOSE: PROGRAM SUPPORT | $5,000 |
Lacey, WA PURPOSE: ACCOUNTING PRORAM | $2,478 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Washington Cpa Foundation has recieved totaling $5,505.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $5,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $2,427,899 |
| Earnings | -$158,066 |
| Net Contributions | $93,000 |
| Grants | $65,000 |
| Ending Balance | $2,297,833 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
J R Simplot Company Foundation Inc Boise, ID | $71,703,701 | $5,686,010 |
College Spark Washington Seattle, WA | $104,693,147 | $3,230,019 |
Idaho Association For The Education Of Young Children Boise, ID | $1,636,700 | $5,141,669 |
Pwh Educational Foundation Inc Spokane, WA | $62,473,304 | $11,260,767 |
Arctic Education Foundation Anchorage, AK | $36,876,877 | $4,892,952 |
College Dreams Inc Grants Pass, OR | $2,542,440 | $3,694,638 |
Calista Education And Culture Inc Anchorage, AK | $4,627,713 | $2,487,452 |
Kmr Group Foundation Vancouver, WA | $32,236,591 | $1,808,486 |
Aleut Foundation Anchorage, AK | $925,739 | $1,724,058 |
R Merle Palmer Minority Scholarship Foundation Tacoma, WA | $1,801,300 | $1,443,994 |
Greater Seattle Business Assoc Scholarship Fund Seattle, WA | $4,889,386 | $1,584,416 |
One Ummah Foundation In Memory Of Mustafa Saeed Rahman Lake Oswego, OR | $1,906,238 | $1,873,006 |