California Society of Certified Public Accountants

Nonprofit profile at a glance

EIN
941056137
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Sacramento, CA, USA
Phone
6505223021
Rating
51
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$12,536,520
Expenses
$12,390,361
Assets
$32,045,786
Liabilities
$9,670,949

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

Leadership & pay

28 people listed

Executive titles in this filing

  • Denise DeLuc Froemming (President & Chief Executive Officer)
  • Natalie Quan (Vice President & Chief Financial Officer)
  • Jennifer Weed (Vice President Learning, Competency and Knowledge)
  • Emil Redzic (Vice President of Information Technology)
  • Jason Fox (Vice President of Government Relations)
  • Jill Pitchenik (Vice President, Strategic Business Operations and DE&I)

Highest reported compensation

  • Denise DeLuc Froemming (President & Chief Executive Officer): $576,288 total reported compensation
  • Natalie Quan (Vice President & Chief Financial Officer): $295,374 total reported compensation
  • Jennifer Weed (Vice President Learning, Competency and Knowledge): $290,825 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 increase the value and promote the integrity of the cpa profession, contribute to the success of our members, and strengthen client, employer, public and government trust in calcpa member advice, work, products, and opinions.

What it reported doing in 2024

Membership services and chapter programs - calcpa represents and provides services to cpas and finance professionals in California. Statewide committees and leadership groups collaborate on projects that increase members' technical knowledge, enhance the profession's image, influence regulation and legislation, attract the best and the brightest to the profession and study the cpa's role in local, national, and global economies. Calcpa has about 38,000 members with 14 chapters throughout the state, each of which engages with local accounting firms, educational institutions, and other financial member groups. Chapters host local and chapter-wide member groups that meet regularly to exchange professional knowledge and connect with their peers. The chapters held over 200 meetings and events for this fiscal year and over 30 fundraising events. Net proceeds from these fundraising events were transferred to the calcpa institute to benefit the chapters' scholarship funds.

Operating model

Revenue model
Other-operating. 89% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - 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: 0
  • Transparency & Controls: 96
  • Accountability: 100
  • Sustainability: 46
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 2.59; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.3; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 11.7%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -1.5% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -0.9% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 99 of 99 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $576K · 28 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $1.2M reported
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 3 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.