Michigan Accountancy Foundation
- Assets
- $513.2k
- Revenue
- $87.1k
- Investments
- $334.0k
- Employees
- 0
- Location
- Troy, MI
- Founding
- 01/1964
- Data as of
- 06/2024
- EIN
- 38-6090334
Organization Overview
Michigan Accountancy Foundation is located in Troy, MI. The organization was established in 1964. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Accountancy Foundation 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 06/2024, Michigan Accountancy Foundation generated $87.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $83.3k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE MICHIGAN ACCOUNTANCY FOUNDATION (FOUNDATION) IS A 501(C)(3) NOT-FOR- PROFIT ORGANIZATION WHOSE MISSION IS TO ATTRACT, INSPIRE AND SUPPORT FUTURE GENERATIONS OF CPAS BY PROVIDING SCHOLARSHIPS TO FIFTH-YEAR ACCOUNTING STUDENTS, SERVING AS A SOURCE OF INDUSTRY KNOWLEDGE FOR COLLEGE AND UNIVERSITY EDUCATORS AND CONNECTING HIGH SCHOOL STUDENTS TO THE CPA PROFESSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS: THE MICHIGAN ACCOUNTANCY SCHOLARSHIP PROGRAM IS FOR FIFTH YEAR/GRADUATE ACCOUNTING STUDENTS ASPIRING TO BE CERTIFIED PUBLIC ACCOUNTANTS.
EDUCATOR EVENTS: EDUCATOR OUTREACH: THE EDUCATOR SYMPOSIUM IS HELD FOR THE DISSEMINATION AND DEVELOPMENT OF ACCOUNTING KNOWLEDGE FOR COLLEGE/UNIVERSITY ACCOUNTING EDUCATORS. HIGH SCHOOL LEADERS VIDEOS: THE VIDEOS ALLOWED STUDENTS TO LEARN FIRST HAND WHAT THE ACCOUNTING PROFESSION IS ABOUT. STUDENTS ALSO HAD THE OPPORTUNITY TO LEARN ABOUT FINANCIAL LITERACY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Bryant Member | Trustee | 0.5 | $0 |
Richard David Vice Preside | OfficerTrustee | 3 | $0 |
Robert Doyle Secretary | OfficerTrustee | 3 | $0 |
Edward Dupke Member | Trustee | 0.5 | $0 |
Dennis Echelbarger Member | Trustee | 1.5 | $0 |
Jonathan Franklin Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $16,735 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,971 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $85,706 |
| Total Program Service Revenue | $0 |
| Investment income | $11,521 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9,610 |
| Net Income from Fundraising Events | -$500 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $87,117 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $45,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,970 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,481 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,906 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,395 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,056 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $83,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $149,189 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,000 |
| 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 | $0 |
| Investments—other securities | $334,037 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $513,226 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $45,000 |
| Total liabilities | $45,000 |
| Net assets without donor restrictions | $218,226 |
| Net assets with donor restrictions | $250,000 |
| 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 | $513,226 |