North Carolina Association Of Cpas
- Assets
- $9.2m
- Revenue
- $7.6m
- Investments
- $14.8k
- Employees
- 35
- Location
- Raleigh, NC
- Founding
- 05/1942
- Data as of
- 04/2023
- 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 04/2023, 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 04/2023, North Carolina Association Of Cpas generated $7.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $7.6m during the year ending 04/2023. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 8 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
2023
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Bibby Board Member | Trustee | 1 | $0 |
Anna Kinast Board Member | Trustee | 1 | $0 |
Arleen Thomas Chair-Elect | OfficerTrustee | 1 | $0 |
Bryan Swerbinsky Board Member | Trustee | 1 | $0 |
Courtney Knoll Board Member | Trustee | 1 | $0 |
Dr Kevin James Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Abila Web Services | 4/29/23 | $453,957 |
Don Farmer Cpa Pa Speaker And Seminar | 4/29/23 | $350,279 |
Grandover Conference Services | 4/29/23 | $219,223 |
Surgent Mccoy Llc Speaker And Seminar Content | 4/29/23 | $189,273 |
Rsm Us Llp Consulting Service | 4/29/23 | $158,713 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,266,101 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $485,327 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,761,428 |
| Total Program Service Revenue | $4,668,540 |
| Investment income | $119,393 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,938 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,597,607 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $61,126 |
| 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. | $1,034,134 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,784,461 |
| Pension plan accruals and contributions | $144,279 |
| Other employee benefits | $203,798 |
| Payroll taxes | $178,204 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,515 |
| Fees for services: Accounting | $37,789 |
| Fees for services: Lobbying | $61,690 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,944 |
| Fees for services: Other | $76,532 |
| Advertising and promotion | $0 |
| Office expenses | $180,337 |
| Information technology | $676,587 |
| Royalties | $0 |
| Occupancy | $135,402 |
| Travel | $99,133 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,225,010 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $227,775 |
| Insurance | $24,625 |
| All other expenses | $63,176 |
| Total functional expenses | $7,611,331 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,235,802 |
| Savings and temporary cash investments | $2,140 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $282,336 |
| 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 | $215,499 |
| Net Land, buildings, and equipment | $949,142 |
| Investments—publicly traded securities | $5,331,341 |
| Investments—other securities | $14,777 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $198,318 |
| Total assets | $9,229,355 |
| Accounts payable and accrued expenses | $781,791 |
| Grants payable | $0 |
| Deferred revenue | $846,987 |
| 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 | $266,299 |
| Total liabilities | $1,895,077 |
| Net assets without donor restrictions | $7,334,278 |
| 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 | $9,229,355 |