Kentucky Society Of Certified Public Accountants

Organization Overview

Kentucky Society Of Certified Public Accountants is located in Louisville, KY. The organization was established in 1952. 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 06/2022, Kentucky Society Of Certified Public Accountants employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky 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 06/2022, Kentucky Society Of Certified Public Accountants generated $2.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $2.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.5%) 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

TO BE THE MAIN RESOURCE FOR CPA'S, POLICY MAKERS AND THE PUBLIC REGARDING THE CPA PROFESSION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

CONTINUING PROFESSIONAL EDUCATION (CPE) COURSES OFFERED CPAS - COURSES TAKE PLACE IN LOCATIONS THROUGHOUT THE STATE AS WELL AS VIRTUALLY. DURING THE FISCAL YEAR, WE HAVE APPROXIMATELY 4,500 REGISTRANTS, SOME WITH MULTIPLE ATTENDANCE TO MORE THAN ONE CPE COURSE. THE CLASSES PROVIDE THEM WITH THE HOURS NEEDED TO RENEW THEIR LICENCE AS A CPA. THE COURSES ARE A WAY FOR THE CPAS AND OTHER PROFESSIONALS TO GAIN ACCESS TO THE VERY LATEST INFORMATION SO THEY ARE UPDATED ON THE SERVICES AND INFORMATION THEY PROVIDE TO THEIR CLIENTS AND EMPLOYERS.


PUBLIC RELATIONS - THE JOURNAL IS PROVIDED FIVE TIMES A YEAR TO OUR ENTIRE MEMBERSHIP BASE WHICH INCLUDES NEARLY 4,000 CPAS STATEWIDE. THIS PUBLICATION CONTAINS CPE OPTIONS, TECHNICAL ARTICLES AND UPDATES ON LEGISLATION, ACCOUNTING STANDARDS, ETC. WE USE THIS AS ANOTHER MEANS FOR REACHING OUR MEMBERSHIP AND KEEPING THEM CURRENT ON WHAT'S GOING ON IN THE ACCOUNTING PROFESSION. WE ALSO USE THE JOURNAL AS A REVENUE SOURCE FOR ADVERTISING.


PROFESSIONAL ISSUE UPDATES - MULTIPLE FOUR-HOUR PRESENTATIONS THAT TAKE PLACE ACROSS THE COMMONWEALTH AS WELL AS VIRTUALLY. THE COURSES PROVIDE AN UPDATE ON CURRENT PROFESSIONAL ISSUES AND ONES THAT WE SEE COMING ON THE HORIZON THAT MAY AFFECT OUR MEMBER'S PRACTICE OR INDUSTRY. PRIOR TO EACH PROFESSIONAL ISSUE UPDATE, WE OFFER A TWO-HOUR ETHICS COURSE AT EACH OF THESE LOCATIONS (OR VIRTUALLY). THE KENTUCKY STATE BOARD OF ACCOUNTANCY REQUIRES CPAS TO REPORT 2 HOURS OF CONTINUING EDUCATION IN ETHICS AT THE TIME THEY RENEW THEIR CPA LICENSE. FOR THOSE WORKING 3000 HOURS OR MORE AT A PUBLIC ACCOUNTING FIRM, THEY MUST REPORT 80 HOURS OF CPE OVER A TWO-YEAR PERIOD; THOSE WORKING LESS THAN 3000 HOURS OR EMPLOYED IN INDUSTRY, EDUCATION OR GOVERNMENT WILL REPORT 60 HOURS OF CPE OVER A TWO-YEAR PERIOD.


OTHER PROGRAM SERVICES - THE SOCIETY ALSO OFFERS CAP-U (COLLEGE TO ACCOUNTING PROFESSIONAL UNIVERSITY) TO KENTUCKY AND SOUTHERN INDIANA ACCOUNTING STUDENTS SEEKING TO EXPAND THEIR LEADERSHIP SKILLS AND PROFESSIONAL COMPETENCIES. SESSIONS ARE DESIGNED TO PROVIDE RELEVANT TOOLS TO CULTIVATE EFFECTIVE COMMUNICATION AND NETWORKING SKILLS, AS WELL AS IMPORTANT LEADERSHIP TRAITS DESIRED BY PROSPECTIVE EMPLOYERS. THE SOCIETY COVERS ALL COST FOR THIS EVENT SO THAT IT CAN BE OFFERED TO THE COLLEGE STUDENTS FOR FREE. A NETWORKING EVENT IS SCHEDULED FOR THE FIRST NIGHT. THIS GIVE FIRMS AND ATTENDEES THE OPPORTUNITY TO GET TO KNOW EACH OTHER AND TO DEVELOP PROFESSIONAL CONNECTIONS THAT WILL HOPEFULLY LEAD TO THE SUCCESS OF THE STUDENTS.THE SOCIETY HOSTS THE FALL AND SPRING AWARDS BANQUET. AT BOTH BANQUETS, ATTENDEES WHO HAVE RECENTLY COMPLETED ALL OF THE REQUIREMENTS TO BECOMING CERTIFIED AS A CPA ARE RECOGNIZED. A REPRESENTATIVE FROM THE ATTORNEY GENERAL'S OFFICE IS ON HAND FOR THE SWEARING IN CEREMONY. WE ALSO ACKNOWLEDGE THE SUCCESSFUL CANDIDATES WHO WILL QUALIFY FOR CERTIFICATION UPON COMPLETION OF THE EXPERIENCE REQUIREMENT AND THOSE RECEIVING SPECIAL AWARDS FOR HIGH SCORES ON THE EXAM. THE SCHOLARSHIP RECIPIENTS ARE RECOGNIZED AT THE SPRING BANQUET. THE SOCIETY IS ACTIVELY ENGAGED ON ALL LEVELS OF LEGISLATION - LOCAL, FRANKFORT AND WASHINGTON, DC. OUR LEGISLATIVE TEAM AND LEADERSHIP WORK WITH THE DOR, IRS, LEGISLATORS, THE GOVERNOR'S OFFICE AND MANY OTHER ORGANIZATIONS. WE HOST AN ANNUAL GOVERNMENT RELATIONS DAY IN FRANKFORT. WE ENCOURAGE OUR MEMBERS TO TAKE ADVANTAGE OF THIS TIME TO HEAR FROM THE LEADERSHIP IN FRANKFORT AND TO SCHEDULE MEETINGS WITH THEIR REPRESENTATIVES.


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Board, Officers & Key Employees

Name (title)Compensation
Darlene Zibart
CEO
$256,010
Eric D Scott
Chair
$0
Esther Thompson-Long
Past President
$0
James B Stevison
Secretary/treasurer
$0
Kayla R Bonsutto
Board Member
$0
Geoffrey K Griffith
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $180,700
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$180,700
Total Program Service Revenue$2,203,110
Investment income $21,702
Tax Exempt Bond Proceeds $0
Royalties $8,131
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,512,628

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