Maryland Society Of Accounting And Tax Professionals Inc
- Assets
- $1.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 9
- Location
- Owings Mills, MD
- Founding
- 04/1982
- Data as of
- 06/2023
- EIN
- 52-1243590
Organization Overview
Maryland Society Of Accounting And Tax Professionals Inc is located in Owings Mills, MD. The organization was established in 1982. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Maryland Society Of Accounting And Tax Professionals Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maryland Society Of Accounting And Tax Professionals 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 06/2023, Maryland Society Of Accounting And Tax Professionals Inc generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $1.2m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.5%) 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 PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: PREMIER RESOURCE FOR TIMELY, RELEVANT EDUCATION. - ACCOUNTING, TAX, AND FINANCIAL REGULATIONS ARE CONSTANTLY CHANGING, MAKING IT ESSENTIAL FOR ACCURATE, COMPREHENSIVE, AND TIMELY INFORMATION TO BE AVAILABLE TO PRACTITIONERS IN THESE PROFESSIONS. THROUGH THE STRENGTH OF THEIR PROFESSIONAL CONNECTIONS, PARTNERSHIPS, AND RESIDENT SUBJECT MATTER EXPERTS (SMES), MSATP STRIVES TO CONTINUALLY BE A PREMIER RESOURCE FOR ITS CONSTITUENCY.
COMMUNITY: MSATP HAS MANY RELATIONSHIPS AND CONSTITUENTS - FROM LAWMAKERS TO MEMBERS TO CLIENTS. INCREASING THE INFLUENCE AMONG THESE STAKEHOLDERS INVOLVES INCREASING AWARENESS OF THE ROLE AND BENEFITS THE ORGANIZATION PROVIDES, CONTINUOUS COMMUNICATION AND INVOLVEMENT IN A VARIETY OF EXTERNAL ACTIVITIES, AND INCREASED MEMBERSHIP WITHIN THE ORGANIZATION.
ADVOCACY: STAY INFORMED OF RELEVANT LEGISLATION. - MSATP IS UNIQUELY POSITIONED TO UNDERSTAND THE DIFFERENT PERSPECTIVES AND POTENTIAL IMPACTS OF ACCOUNTING, TAX, AND FINANCIAL REGULATIONS. THEY HAVE INSIGHTS INTO THE LEGISLATIVE AGENDA, COUPLED WITH EXTENSIVE EXPERIENCE OF HOW THE CHANGES WILL IMPACT THEIR PROFESSION AND CLIENTS - TO INCLUDE POTENTIAL UNINTENDED CONSEQUENCES. AS SUCH, THEY CONTINUOUSLY MONITOR LEGISLATIVE ACTIVITIES, PROVIDE EXPERT FEEDBACK, AND INFORM THEIR MEMBERSHIP OF PENDING CHANGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ana Barnabe President (until 2/15/23) | OfficerTrustee | 6 | $0 |
Donya Oneto 1st Vp; Then Pres. (trans. 2/16/23) | OfficerTrustee | 6 | $0 |
Ellen Silverstein 2nd Vp; Then 1st VP (trans. 2/16/23) | OfficerTrustee | 6 | $0 |
Ann Elliott Treasurer | OfficerTrustee | 6 | $0 |
Jonathan Rivilin Secretary | OfficerTrustee | 6 | $0 |
Mike Kohler Delegate | Trustee | 2 | $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 | $1,053,859 |
| Investment income | $34,502 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,135 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,094,594 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $840 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $133,945 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $304,257 |
| Pension plan accruals and contributions | $9,132 |
| Other employee benefits | $11,051 |
| Payroll taxes | $33,540 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,978 |
| Fees for services: Accounting | $17,162 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,272 |
| Fees for services: Other | $16,527 |
| Advertising and promotion | $34,974 |
| Office expenses | $110,209 |
| Information technology | $28,965 |
| Royalties | $0 |
| Occupancy | $63,617 |
| Travel | $20,262 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $322,173 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,994 |
| All other expenses | $0 |
| Total functional expenses | $1,223,873 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $131,034 |
| Savings and temporary cash investments | $95,262 |
| Pledges and grants receivable | $682 |
| 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 | $1,186,447 |
| Investments—other securities | $0 |
| Investments—program-related | $32,726 |
| Intangible assets | $0 |
| Other assets | $111,793 |
| Total assets | $1,557,944 |
| Accounts payable and accrued expenses | $33,640 |
| Grants payable | $0 |
| Deferred revenue | $209,743 |
| 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 | $102,234 |
| Total liabilities | $345,617 |
| Net assets without donor restrictions | $1,212,327 |
| 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 | $1,557,944 |