Virginia Society Of Certified Public Accountants
- Assets
- $8.8m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 28
- Location
- Glen Allen, VA
- Founding
- 08/1935
- Data as of
- 04/2024
- EIN
- 54-6053666
Organization Overview
Virginia Society Of Certified Public Accountants is located in Glen Allen, VA. The organization was established in 1935. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 04/2024, Virginia Society Of Certified Public Accountants employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia 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 04/2024, Virginia Society Of Certified Public Accountants generated $6.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $6.2m during the year ending 04/2024. While expenses have increased by 1.4% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE VSCPA IS THE LEADING PROFESSIONAL ASSOCIATION THAT SERVES AS THE ESSENTIAL, STRATEGIC PARTNER FOR ALL CERTIFIED PUBLIC ACCOUNTANTS (CPA), THEIR PROFESSION AND THEIR COMMUNITIES. THE VSCPA SERVES ITS MEMBERSHIP (OF MORE THAN 9,953 INDIVIDUAL CPAS AND 11,593 TOTAL MEMBERS) BY ADVOCATING FOR CPAS' INTERESTS, BUILDING KNOWLEDGE AND EXPERTISE, CREATING COMMUNITY AND LONG LASTING RELATIONSHIPS AND PROVIDING TRANSFORMATIONAL VALUE TO MEMBERS. THIS INCLUDES PROVIDING CONTINUING PROFESSIONAL EDUCATION, MEMBER BENEFITS AND PROGRAMS TO CONNECT CPAS, ACTIVITIES TO ENHANCE THE CPA BRAND AND PROMOTE DIVERSITY, EQUITY, INCLUSION AND BELONGING IN THE PROFESSION, COMMUNITY OUTREACH TO THE PUBLIC, PROGRAMS FOR STUDENTS AND EDUCATORS TO ADVANCE THE PIPELINE, ADVOCACY TO LEGISLATORS AND REGULATORS ON MATTERS OF INTEREST TO CPAS AND THE PUBLIC, AND A PEER REVIEW PROGRAM TO ENSURE PROFESSIONAL EXCELLENCE OF CPA SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUING PROFESSIONAL EDUCATION: VSCPA OFFERS CONFERENCES, SEMINARS, IN-HOUSE EDUCATION COURSES AND ONLINE LEARNING OPPORTUNITIES TO ENABLE VIRGINIA CPAS TO MEET THEIR CONTINUING PROFESSIONAL EDUCATION (CPE) REQUIREMENTS FOR CPA LICENSURE. THE VSCPA PROVIDES ORIGINAL CPE PROGRAMMING THAT CPAS CANNOT RECEIVE ELSEWHERE, INCLUDING A SUITE OF VSCPA WRITTEN PROFESSIONAL ETHICS COURSES THAT MEET THE CPAS' TWO-HOUR ETHICS EDUCATION REQUIREMENT FOR VIRGINIA.
MEMBERSHIP SERVICES: VSCPA OFFERS VARIOUS SERVICES JUST FOR MEMBERS, INCLUDING UNIQUE ONLINE OFFERINGS; PROFESSIONAL AND LEADERSHIP DEVELOPMENT, DISCOUNTS ON PRODUCTS, SERVICES AND INSURANCE, VOLUNTEER OPPORTUNITIES AND NETWORKING EVENTS. EXAMPLES INCLUDE INNOVATION PROGRAMMING WITH FUTURE-FORWARD RESOURCES AND LEARNING, MEMBERS-ONLY ONLINE COMMUNITY, EXCLUSIVE LEADERSHIP PROGRAMS, AND MORE THAN 20 FREE CPE OPPORTUNITIES EACH YEAR. THE VSCPA ALSO PROVIDES NEWS AND INFORMATION VIA ITS WEBSITE, E-NEWSLETTERS, SOCIAL MEDIA, AND DISCLOSURES DIGITAL MAGAZINE.
PUBLIC AND COMMUNITY OUTREACH: VSCPA PROVIDES PUBLIC RELATIONS AND COMMUNITY SERVICE PROGRAMS TO PROMOTE A POSITIVE IMAGE OF THE CPA PROFESSION IN VIRGINIA AND ENCOURAGE FINANCIAL RESPONSIBILITY AMONG VIRGINIA'S CITIZENS. VSCPA ALSO AIMS TO ATTRACT STUDENTS TO CAREERS IN ACCOUNTING VIA A STUDENT MEMBERSHIP PROGRAM, SPEAKING ENGAGEMENTS TO HIGH SCHOOL AUDIENCES AND OFFERING PROGRAMS FOR VIRGINIA COLLEGE ACCOUNTING STUDENTS AND EDUCATORS. THE VSCPA PROMOTES A #COUNTONCPAS SOCIAL MEDIA CAMPAIGN YEAR-ROUND TO HIGHLIGHT THE VALUE CPAS BRING TO VIRGINIA, ITS CITIZENS AND BUSINESSES AS WELL AS HIGHLIGHT MEMBER COMMUNITY SERVICE PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie R Peters President & CEO | OfficerTrustee | 35 | $304,655 |
Jennifer S Lehman Chair | OfficerTrustee | 1 | $0 |
Christine B Williamson Chair-Elect | OfficerTrustee | 1 | $0 |
Krystal R Mccants Vice Chair | OfficerTrustee | 1 | $0 |
Andrew T Martin Vice Chair | OfficerTrustee | 1 | $0 |
John W Reynolds Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Unleashed Technologies Llc It Support | 4/29/23 | $281,331 |
Don Farmer Cpa Pa Continuing Education Instructor | 4/29/23 | $212,500 |
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 | $6,357,745 |
| Investment income | $127,738 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $107,052 |
| Net Rental Income | $43,323 |
| Net Gain/Loss on Asset Sales | $20,931 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,665,160 |
| 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. | $370,726 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,369,503 |
| Pension plan accruals and contributions | $133,350 |
| Other employee benefits | $214,533 |
| Payroll taxes | $181,888 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,500 |
| Fees for services: Accounting | $26,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,720 |
| Fees for services: Other | $69,729 |
| Advertising and promotion | $36,941 |
| Office expenses | $179,239 |
| Information technology | $334,065 |
| Royalties | $0 |
| Occupancy | $118,825 |
| Travel | $2,734 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $783,361 |
| Interest | $31,875 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $349,916 |
| Insurance | $15,971 |
| All other expenses | $251,047 |
| Total functional expenses | $6,173,233 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $788,529 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,552 |
| 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 | $185,569 |
| Net Land, buildings, and equipment | $2,154,993 |
| Investments—publicly traded securities | $3,454,464 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,161,250 |
| Other assets | $22,494 |
| Total assets | $8,804,101 |
| Accounts payable and accrued expenses | $1,208,214 |
| Grants payable | $0 |
| Deferred revenue | $619,847 |
| 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 | $1,275,000 |
| Other liabilities | $0 |
| Total liabilities | $3,103,061 |
| Net assets without donor restrictions | $5,701,040 |
| 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 | $8,804,101 |