Minnesota Society Of Certified Public Accountants

Organization Overview

Minnesota Society Of Certified Public Accountants is located in Bloomington, MN. The organization was established in 1981. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 03/2022, Minnesota Society Of Certified Public Accountants employed 33 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Minnesota Society Of Certified Public Accountants 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 03/2022, Minnesota Society Of Certified Public Accountants generated $6.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $5.5m during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE MISSION OF THE MINNESOTA SOCIETY OF CPAS (MNCPA) IS TO HELP MEMBERS SUCCEED PROFESSIONALLY WHILE BEING MINDFUL OF SERVING THE PUBLIC INTEREST. (CONTINUED ON SCHEDULE O)

Describe the Organization's Program Activity:

Part 3 - Line 4a

EDUCATIONAL ACTIVITIES ENABLED MEMBERS AND NONMEMBERS TO MEET REGULATORY REQUIREMENTS, ENHANCED PERSONAL DEVELOPMENT, AND INCREASED KNOWLEDGE TO MEET THE NEEDS OF THE FINANCIAL AND BUSINESS COMMUNITY. ACTIVITIES INCLUDED SEMINARS, CONFERENCES, WEBINARS, AND ONSITE EDUCATION, AND SELF-STUDY PRODUCTS.


MEMBERSHIP ACTIVITIES PROVIDED APPROXIMATELY 8000 MEMBERS WITH OPPORTUNITIES FOR EDUCATION, PROFESSIONAL NETWORKING, CAREER ADVANCEMENT, AND PROMOTION OF THE CPA PROFESSION.


COMMUNICATION ACTIVITIES INCLUDED THE PUBLICATION OF THE FOOTNOTE, THE MNCPA'S MAGAZINE FOR MEMBERS, PUBLICATION OF ELECTRONIC NEWSLETTERS, DEVELOPMENT AND MAINTENANCE OF THE MNCPA'S WEBSITE, WHICH DELIVERS INFORMATION TO THE GENERAL PUBLIC AS AS WELL AS ADDITIONAL CONTENT AND RESOURCES FOR MEMBERS, TRAINING FOR MEMBERS SPEAKING ON BEHALF OF THE CPA PROFESSION, AND THE DISTRIBUTION OF PROFESSION-RELATED PRESS RELEASES TO VARIOUS MEDIA OUTLETS. GOVERNMENT RELATIONS ACTIVITIES PROMOTED CPA INVOLVEMENT IN AND INFLUENCE ON THE POLITICAL PROCESS IN THE STATE OF MINNESOTA AND WITH MINNESOTA'S CONGRESSIONAL DELEDGATION IN WASHINGTON. PROFESSIONAL STANDARDS ACTIVITIES INCLUDED ADMINISTRATION OF A PEER REVIEW PROGRAM, AND COORDINATION OF AN ETHICS PROGRAM TO ADDRESS COMPLAINTS AGAINST MEMBERS.


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Board, Officers & Key Employees

Name (title)Compensation
Linda Wedul
President
$235,099
Faye Hayhurst
Director Of
$138,678
Geno Fragnito
Government R
$131,014
Lynn Kletscher
Dir. Of Educ
$129,176
David Olson
It Manager
$120,550
Stephanie Schmidt
Membership/m
$109,988

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Business Professionals Network
Education
$112,910
Aicpa
Education
$104,042
Visions
Printing
$103,289
Cliftonlarsonallen
Education
$101,308
Surgent Mccoy
Education
$309,790
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $886,554
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$886,554
Total Program Service Revenue$5,261,847
Investment income $108,657
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$520
Net Gain/Loss on Asset Sales -$5,154
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $6,449,608

Grants Awarded

Over the last fiscal year, Minnesota Society Of Certified Public Accountants has awarded $35,000 in support to 2 organizations.

Grant RecipientAmount

PREPARE AND PROSPER

Org PageRecipient Profile

St Paul, MN

PURPOSE: GENERAL SUPPORT.

$25,000

ACCOUNTANTS CONCERNED FOR ACCOUNTANTS

Org PageRecipient Profile

Marshall, MN

PURPOSE: GENERAL SUPPORT.

$10,000
View Grant Profile

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