Michigan Accountancy Foundation

Nonprofit profile at a glance

EIN
386090334
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Troy, MI, USA
Phone
2482673700
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$147,642
Expenses
$83,461
Assets
$590,229
Liabilities
$37,754

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

Leadership & pay

19 people listed

Executive titles in this filing

  • RICHARD DAVID (PRESIDENT)

People named in this filing

  • PAUL BRYANT (MEMBER)
  • RICHARD DAVID (PRESIDENT)
  • ROBERT DOYLE (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

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.

What it reported doing in 2024

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. High school leaders program: high school students get a broad spectrum look at the accounting profession and are able to ask questions of cpas and college accounting students about anything from day-to-day business to interesting experiences they could have.

Operating model

Revenue model
Donor-supported. 89% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 64% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 89
  • Accountability: 88
  • Sustainability: 79
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.9%; rating input score 54
  • Program expense ratio: 85.4%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 27th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 93.4%; rating input score 93; 54th 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 43.5%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 7.07; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -4% per year; rating input score 0; 19th percentile among comparable filings
  • Revenue growth: -4% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 53.9% of revenue deployed · 85.4% of spending went to programs
  • Governance: 19 of 19 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $71K in reported program spending
  • Leadership: top reported pay $0 · 19 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.