North Carolina Association Of Cpas
- Assets
- $10.2m
- Revenue
- $7.2m
- Investments
- $12.8k
- Employees
- 35
- Location
- Raleigh, NC
- Founding
- 05/1942
- Data as of
- 04/2022
- EIN
- 56-0521526
Organization Overview
North Carolina Association Of Cpas is located in Raleigh, NC. The organization was established in 1942. 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 04/2022, North Carolina Association Of Cpas employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Association Of Cpas 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 04/2022, North Carolina Association Of Cpas generated $7.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $7.5m during the year ending 04/2022. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROFESSIONAL EDUCATION - THE ASSOCIATION PROVIDES EDUCATIONAL PROGRAMS DESIGNED TO MAINTAIN AND IMPROVE THE SKILLS OF CPAS. PROFESSIONAL EDUCATION IS ALSO A REQUIREMENT FOR CPA CERTIFICATION RENEWAL.
COMMUNICATION AND MEMBER SERVICES - THE ASSOCIATION DISSEMINATES INFORMATION TO ITS MEMBERS AS IT RELATES TO CHANGES IN THE ACCOUNTING PROFESSION AND ALSO SEEKS TO EDUCATE THE GENERAL PUBLIC ABOUT THE NATURE & DIVERSITY OF BUSINESS SERVICES THAT ARE PROVIDED BY MEMBERS. THE ASSOCIATION ALSO OFFERS VARIOUS BUSINESS BENEFITS TO ITS MEMBERS.
PEER REVIEW - THE ASSOCIATION ADMINISTERS THE PEER REVIEW PROGRAM FOR THE AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (AICPA) AND THE NORTH CAROLINA STATE BOARD OF CERTIFIED PUBLIC ACCOUNTANT EXAMINERS FOR FIRMS REQUIRED TO HAVE PEER REVIEWS FOR LICENSING REQUIREMENTS IN NORTH CAROLINA. THE PEER REVIEW PROGRAM ENSURES THAT ENROLLED FIRMS CONDUCT THEIR PRACTICE IN ACCORDANCE WITH THE AICPA CODE OF PROFESSIONAL CONDUCT AND THAT EACH FIRM HAS IN PLACE QUALITY CONTROL PROCEDURES TO ENSURE THAT ALL ACCOUNTING AND AUDITING SERVICES ARE COMPETENTLY DELIVERED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Bryson Chief Executive Officer | Officer | 59 | $369,020 |
Mark Soticheck Chief Operating Officer | Officer | 53 | $230,968 |
Lorrie Gold Director Of Communications | 38 | $130,058 | |
Lara Vann Director Of Finance & Admin. | Officer | 43 | $125,485 |
Jose Rodriguez Chair-Elect | OfficerTrustee | 1 | $0 |
Kelli Knoble Immediate Past Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Abila Web Services | 4/29/22 | $379,721 |
Don Farmer Cpa Pa Speaker And Seminar | 4/29/22 | $363,434 |
Grandover Conference Services | 4/29/22 | $237,059 |
Surgent Mccoy Llc Speaker And Seminar Content | 4/29/22 | $149,678 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,275,440 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $367,063 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,667,503 |
| Total Program Service Revenue | $4,340,462 |
| Investment income | $123,635 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $30,582 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,194,699 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $102,030 |
| 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. | $914,968 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,725,470 |
| Pension plan accruals and contributions | $118,842 |
| Other employee benefits | $235,930 |
| Payroll taxes | $156,465 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,602 |
| Fees for services: Accounting | $33,744 |
| Fees for services: Lobbying | $71,304 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,341 |
| Fees for services: Other | $183,485 |
| Advertising and promotion | $0 |
| Office expenses | $182,536 |
| Information technology | $667,031 |
| Royalties | $0 |
| Occupancy | $107,397 |
| Travel | $18,925 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,360,667 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $236,153 |
| Insurance | $22,256 |
| All other expenses | $45,914 |
| Total functional expenses | $7,528,082 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,096,703 |
| Savings and temporary cash investments | $10,278 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $611,778 |
| 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 | $233,969 |
| Net Land, buildings, and equipment | $749,346 |
| Investments—publicly traded securities | $5,294,648 |
| Investments—other securities | $12,783 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $152,729 |
| Total assets | $10,162,234 |
| Accounts payable and accrued expenses | $768,228 |
| Grants payable | $0 |
| Deferred revenue | $1,274,396 |
| 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 | $681,061 |
| Total liabilities | $2,723,685 |
| Net assets without donor restrictions | $7,438,549 |
| 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 | $10,162,234 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amt-The Association For Manufacturing Technology Mclean, VA | $46,538,427 | $7,983,774 |
Nashville Convention & Visitors Bureau Nashville, TN | $15,667,602 | $21,623,147 |
Responsible Business Alliance Inc Alexandria, VA | $17,217,182 | $20,384,843 |
Asis International Inc Alexandria, VA | $27,323,586 | $13,144,142 |
National Institute For Automotive Service Exellence Leesburg, VA | $25,163,895 | $18,755,834 |
Portland Cement Association Alexandria, VA | $21,852,055 | $18,216,465 |
American College Of Radiology Association Reston, VA | $28,168,186 | $16,951,008 |
Aerospace Industries Association Of America Inc Arlington, VA | $34,239,387 | $18,520,879 |
Motor & Equipment Manufacturers Association Research Triangle Park, NC | $37,966,318 | $17,239,678 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Pharmaceutical Industry Labor Management Association Alexandria, VA | $483,613 | $14,704,562 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |