Connecticut Society of Certified P… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1908

Legal Domicile

Principal Officer

Bonnie Stewart

Phone

8602584800

Tax Period

2023-04-01 to 2024-03-31

Connecticut Society of Certified Public Accountants Inc, founded in 1908, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year.

Mission

To promote, advance and help preserve professional standards of conduct within the field of public accounting in the state of Connecticut.

Program Service Accomplishments

Program 1

Advocacy - to protect the certified public accounting profession from adverse legislation and regulation and to uphold the public interest in transparent financial reporting. The CTCPA interacts with such groups as the Connecticut General Assembly, Connecticut Department of Revenue Services, Connecticut Department of Banking, Internal Revenue Service, Department of Labor, State Board of Accountancy, Department of Consumer Protection, Financial Accounting Standards Board and Governmental Accounting Standards Board. Serving 6,280 members.

Program 2

Member Services and Communications - to provide a home for CPAs in public accounting, private industry, education, and government to meet, discuss, and address enhancing professional quality in a...

Member Services and Communications - to provide a home for CPAs in public accounting, private industry, education, and government to meet, discuss, and address enhancing professional quality in a changing environment. The CTCPA provides opportunities for social interaction between CPAs, with associated professions, and with relevant regulatory agencies. Serving 6,280 members.

Program 3

Professional Development - licensed CPAs are required by law to obtain 40 hours of continuing professional education (CPE) each year. As professional standards, tax laws, and business practices...

Professional Development - licensed CPAs are required by law to obtain 40 hours of continuing professional education (CPE) each year. As professional standards, tax laws, and business practices change, the CPA must continually work to stay current. The CTCPA provides in-person and on-line continuing professional education and administers the Connecticut Peer Review Program.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $3,200

Program Service Revenue $2,372,899

Investment Income $34,073

Other Revenue $34,081

TOTAL REVENUE $2,444,253

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,036,941

Fundraising Expenses $0

Other Expenses $1,390,912

TOTAL EXPENSES $2,427,853

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,444,253	$2,775,889	-0.1%
Expenses	$2,427,853	$2,449,270	0.0%
Net Income	$16,400	$326,619	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

1090

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$258,380

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Timothy Hedley	Chair	1.00	Officer Director	$0	$0	$0
Kevin Lawlor	Chair-elect	1.00	Officer Director	$0	$0	$0
Mary Manfredi	Treasurer	1.00	Officer Director	$0	$0	$0
Muhammad Malloy	Secretary	1.00	Officer Director	$0	$0	$0
Amber Moore	Advisory Council Chair	1.00	Director	$0	$0	$0
Christopher King	Member-at-Large	1.00	Director	$0	$0	$0
Kariann McDougall	Member-at-Large	1.00	Director	$0	$0	$0
Rachel Tressy	Member-at-Large	1.00	Director	$0	$0	$0
Karen Zeilnhofer	Member-at-Large	1.00	Director	$0	$0	$0
Bonnie Stewart	CEO/Exec Director	37.50	Officer	$229,758	$28,622	$258,380
Lisa Bugryn	CPE Director	37.50	Highest	$102,399	$6,153	$108,552

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$2,444,253	$2,427,853	$2,725,344	$16,400
2023	$2,775,889	$2,449,270	$2,670,383	$326,619
2022	$2,630,132	$2,407,433	$2,522,074	$222,699
2021	$2,603,705	$2,162,723	$2,254,803	$440,982
2020	$2,942,083	$2,923,031	$1,395,555	$19,052
2019	$3,038,923	$2,937,831	$1,465,797	$101,092

Connecticut Society of Certified Public Accountants Inc