Accounting Education Foundation Of The Texas Society Of Cpas Inc
- Assets
- $7.2m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Addison, TX
- Founding
- 02/1961
- Data as of
- 05/2023
- EIN
- 75-6026826
Organization Overview
Accounting Education Foundation Of The Texas Society Of Cpas Inc is located in Addison, TX. The organization was established in 1961. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Accounting Education Foundation Of The Texas Society Of Cpas Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2023, Accounting Education Foundation Of The Texas Society Of Cpas Inc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 53.6% each year . All expenses for the organization totaled $2.5m during the year ending 05/2023. While expenses have increased by 39.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE EDUCATION, AWARENESS AND THOUGHT LEADERSHIP RELATED TO THE STUDY, TEACHING AND PRACTICE OF ACCOUNTANCY AND ALLIED FIELDS THROUGH CHARITABLE, EDUCATIONAL AND RESEARCH INITIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTINUING PROFESSIONAL EDUCATION: 1,390 COURSES WERE OFFERED TO 16,989 PARTICIPANTS IN ACCOUNTING, AUDIT, FINANCE, BUSINESS LAW, TAXATION, TECHNOLOGY APPLICATIONS, ETHICS, AND VARIOUS OTHER TOPICS.
ACCOUNTING SCHOLARSHIPS, AWARDS AND STUDENT PIPELINE INITIATIVES: SCHOLARSHIPS TOTALING $126,000 WERE AWARDED TO 51 ACCOUNTING STUDENTS AT 20 UNIVERSITIES IN TEXAS BASED ON THEIR ACADEMIC ACHIEVEMENTS AND OTHER CRITERIA. PARTNERED WITH THE AICPA TO AWARD $10,000 IN MINORITY SCHOLARSHIPS. PROVIDED AN ADDITIONAL $21,500 TO A UNIVERSITY IN THE PERMIAN BASIN AREA FOR ACCOUNTING SCHOLARSHIPS. RECOGNIZED 48 STUDENTS FOR ACCOUNTING EXCELLENCE IN THEIR ACADEMIC PROGRAMS, AS WELL AS FOUR OUTSTANDING EDUCATORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jodi Ann Ray Pres/ceo/ed | OfficerTrustee | 10 | $0 |
Edith C Cogdell CFO | Officer | 10 | $0 |
Jerrel L Cross Director-Peer Review | 0 | $0 | |
Melinda H Bentley COO | 7.5 | $0 | |
Kenneth Besserman Dir-Gov Affairs | 0 | $0 | |
Diane C Joiner Chapter Ed-Austin | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Business Professionals Network Cpe Vendor | 5/30/23 | $181,122 |
Surgent Cpe Vendor | 5/30/23 | $145,089 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $775 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $102,594 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $103,369 |
| Total Program Service Revenue | $2,036,471 |
| Investment income | $128,629 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $43,758 |
| Net Income from Fundraising Events | $18,803 |
| Net Income from Gaming Activities | $5,240 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,338,386 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $31,500 |
| Grants and other assistance to domestic individuals. | $126,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $452,799 |
| Pension plan accruals and contributions | $18,050 |
| Other employee benefits | $54,965 |
| Payroll taxes | $36,307 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,860 |
| Advertising and promotion | $4,181 |
| Office expenses | $11,805 |
| Information technology | $34,592 |
| Royalties | $204,653 |
| Occupancy | $169,359 |
| Travel | $26,986 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $375,468 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,975 |
| Insurance | $0 |
| All other expenses | $79,386 |
| Total functional expenses | $2,487,974 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $543,237 |
| Savings and temporary cash investments | $651,102 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,355 |
| 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 | $85,150 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,651,601 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $275,104 |
| Total assets | $7,239,549 |
| Accounts payable and accrued expenses | $182,938 |
| Grants payable | $0 |
| Deferred revenue | $406,877 |
| 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 | $0 |
| Total liabilities | $589,815 |
| Net assets without donor restrictions | $6,277,786 |
| Net assets with donor restrictions | $371,948 |
| 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 | $7,239,549 |
Grants Awarded
Over the last fiscal year, Accounting Education Foundation Of The Texas Society Of Cpas Inc has awarded $31,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
AICPA FOUNDATION PURPOSE: MINORITY SCHOLARSHIPS | $10,000 |
UT PERMIAN BASIN PURPOSE: ACCOUNTING SCHOLARSHIPS | $21,500 |