Aicpa & Cima

What it reported doing in 2024

Accounting education support and research: the aicpa foundation provides accounting financial education and career support through scholarships and fellowships for top undergraduate, graduate, and doctoral accounting students, reimburses fees associated with the cpa exam, and offers workshops that enhance students' professional skills and understanding of the cpa licensure process. The foundation concentrates program funding for scholarships and fellowships to individuals on a cpa pathway who demonstrate financial need, plan to pursue cpa licensure, have college credits in accounting, or are current cpas pursing accounting doctoral studies. During 2024 the foundation provided assistance to a total of 340 recipients through its scholarship, fellowship and education outreach programs. Aicpa foundation legacy scholarships are designed to support the next generation of cpas by providing financial assistance and professional development opportunities to undergraduate and graduate students. These scholarships help alleviate the financial burden of higher education, allowing talented individuals to focus on their studies and pursue their cpa licensure. Aicpa foundation legacy scholarships include the aicpa foundation two-year transfer scholarship, the aicpa foundation scholarship for accounting students, the aicpa scholarship for future cpas, the john l. Carey scholarship, and the aicpa/pcps george willie scholarship. A total of 127 aicpa foundation legacy scholarships were granted during 2024. Aicpa foundation cpa exam scholarships were created in 2020 to assist student and cpa exam candidates with some of the costs associated with taking the cpa exam. 83 aicpa foundation cpa exam scholarships were granted during 2024. The aicpa foundation fellowship for accounting doctoral studies (fads) program was established in 2024 and is available to eligible new and current doctoral candidates, providing cpas with essential financial assistance and resources to become accounting educators. The fads program unites three prior programs of the aicpa foundation (the aicpa fellowship for minority doctoral students, the accounting doctoral students (ads) program, and the william ezzell scholarship) into a single fellowship for accounting doctoral students. The consolidated fellowship program aims to support aspiring accounting educators, strengthen the cpa pipeline, and advance the profession through academic excellence and mentorship. 22 fads program fellowships and 3 accounting doctoral students (ads) awards were granted by the foundation during 2024. The aicpa foundation collaborates with the aicpa to support the accounting scholars leadership workshop (aslw), a workshop that raises awareness and educates students about the broad career opportunities available in the accounting and finance profession. The workshop event is designed to provide students with the skills they can use to succeed, grow and develop once they enter the profession. During 2024 the foundation assisted 105 students from 33 different states/territories with attending the annual interactive event. The barry c. Melancon professional accounting research (par) fellowship will support the next generation of accounting and financial professionals with the skills, knowledge and training to advance the accounting and finance profession. The fellowship grant will support doctoral students who are undertaking practical research to advance the science of public or management accounting practice. The melancon par fellowship was established in 2024 and grants will be awarded to two doctoral students in 2025. Grant awards will be contingent on the cost of the applicant's research project and the financial needs of the applicant and will provide periodic updates to the foundation board of trustees regarding their research findings.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 77.4%; rating input score 77
• Fundraising efficiency: $10.31 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.4%; rating input score 94; 26th 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: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Limited
  • Conducts field audits: Limited
  • May suspend future funding: Limited
  • Requires financial reports: Limited
  • Conducts site visits: Limited
  • Requires grant agreements: Limited
  • May require repayment: Limited
• Grant itemization coverage: 95.1%; rating input score 95; 42nd 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: -26.5%; rating input score 7; 7th percentile among comparable filings
• Total-asset coverage ratio: 4.24; rating input score 82; 82nd percentile among comparable filings
• Liabilities to assets ratio: 0.04; rating input score 54; 54th percentile among comparable filings
• Officer compensation ratio: 8.5%; rating input score 42; 42nd percentile among comparable filings

Growth

• Program expense growth: -3.3% per year; rating input score 0; 10th percentile among comparable filings
• Revenue growth: -6.5% per year; rating input score 0; 4th percentile among comparable filings
• Asset growth: -2.5% per year; rating input score 0; 11th percentile among comparable filings