Aicpa Benevolent Fund Inc

Nonprofit profile at a glance

EIN
136168775
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Durham, NC, USA
Phone
9194024500
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$775,689
Expenses
$332,407
Assets
$13,955,808
Liabilities
$71,648

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • RONALD A GITZ (PRESIDENT)

Highest reported compensation

  • TIMOTHY J LASPALUTO (SECRETARY/TREASURER): $638,053 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide financial assistance to members of the american institute of certified public accountants that are in need and their families.

What it reported doing in 2024

The aicpa benevolent fund collects and administers funds to provide short-term financial assistance to aicpa members that are victims of hardship or distress. The fund assists members and their families by helping them with daily living and subsistence expenses, medical and prescription expenses that exceed insurance coverage, and other expenses that arise due to serious illness, medical emergency, accidents, natural disasters, and other financial hardship or distress. During calendar year 2024, the fund provided hardship assistance to 6 individuals.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 33
  • Transparency & Controls: 71
  • Accountability: 90
  • Sustainability: 84
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 35.9%; rating input score 36
  • Program expense ratio: 38%; rating input score 38
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 57.1%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 41.98; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 16%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: -7.8% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 35.9% of revenue deployed · 38% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $126K in reported program spending
  • Leadership: top reported pay $638K · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 36/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 38/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.