FOUNDATION FOR ACCOUNTING EDUCATIO… - 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

1972

Legal Domicile

Principal Officer

CALVIN HARRIS JR

Phone

2127198300

Tax Period

2024-06-01 to 2025-05-31

FOUNDATION FOR ACCOUNTING EDUCATION INC, founded in 1972, is a community nonprofit in the Education sector that reported $2.7M in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year.

Mission

TO PROVIDE LIFELONG CONTINUING EDUCATION TO CERTIFIED PUBLIC ACCOUNTANTS IN NEW YORK STATE.

Program Service Accomplishments

Program 1

Expenses: $1,946,118 Revenue: $1,357,129

FOUNDATION FOR ACCOUNTING EDUCATION (FAE) PROVIDES CONTINUING PROFESSIONAL EDUCATION (CPE) REQUIRED TO MAINTAIN A CPA LICENSE IN NEW YORK STATE. FAE IS QUALIFIED TO PROVIDE CPE BY THE NEW YORK STATE DEPARTMENT OF EDUCATION AND THE NATIONAL ASSOCIATION OF STATE BOARDS OF ACCOUNTANCY (NASBA). UNDER NEW YORK'S ACCOUNTING REFORM LAW, CPAS WHOSE PRINCIPAL PLACE OF BUSINESS IS NEW YORK ARE REQUIRED TO COMPLETE 40 HOURS OF CPE EVERY CALENDAR YEAR IN GENERAL STUDIES, INCLUDING ACCOUNTING, AUDITING, TAXATION, ADVISORY SERVICES, AND OTHER AREAS, OR 24 HOURS IN A SPECIALIZED SUBJECT. TO HELP MEET THIS REQUIREMENT FAE OFFERS MORE THAN 478 COURSES ANNUALLY INCLUDING CONFERENCES, SEMINARS, TECHNICAL SESSIONS, ON-SITE CPE AND ONLINE WEBINARS. COURSES KEEP PARTICIPANTS UPDATED ON CONSTANTLY CHANGING REGULATIONS, TECHNICAL AND ETHICAL ISSUES AND BEST PRACTICES IN ACCOUNTING AND AUDITING.

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,341,559

Program Service Revenue $1,357,129

Investment Income $6,853

Other Revenue $0

TOTAL REVENUE $2,705,541

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,558,139

Fundraising Expenses $0

Program Expenses $1,946,118

Other Expenses $1,151,751

TOTAL EXPENSES $2,709,890

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,705,541	$2,852,211	-0.1%
Expenses	$2,709,890	$2,860,360	-0.1%
Net Income	$-4,349	$-8,149	-0.5%

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

1041

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

$1,100,813

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BARBARA MARINO CPA	IMMEDIATE PAST PRESIDENT	2.00	Officer Director	$0	$0	$0
GEORGE RUBINO CPA	TRUSTEE	1.00	Director	$0	$0	$0
J MICHAEL KIRKLAND CPA	PRESIDENT	5.00	Officer Director	$0	$0	$0
KENNEETH GRALAK CPA	PRESIDENT-ELECT	3.00	Officer Director	$0	$0	$0
MAGDALENA CZERNIAWSKI CPA	TRUSTEE	1.00	Director	$0	$0	$0
PATRICIA JOHNSON CPA	TRUSTEE	1.00	Director	$0	$0	$0
SHARI E BERK CPA	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN M MORSE CPA	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM H DRESNACK CPA	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
AMY WILLIAMS	CHIEF OPERATING OFFICER	3.00	Officer	$18,620	$36,250	$269,003
CALVIN HARRIS CPA	CHIEF EXECUTIVE OFFICER	5.60	Officer	$61,871	$66,569	$479,042
PATRICK PAYANO CPA	CHIEF FINANCIAL OFFICER	14.00	Officer	$104,449	$74,239	$352,768
ANTOINE JULIAN FLETCHER	DIRECTOR-HUMAN RESOURCES	7.50	Highest	$33,926	$29,504	$199,132
EMILY FRIZZELL	CHIEF MARKETING & COMMUNICATIONS DIR	10.90	Highest	$46,961	$28,711	$190,644
TIMOTHY TWOFOOT BOULETTE ESQ	GENERAL COUNSEL	11.30	Highest	$63,411	$20,099	$231,470
XIOMARA FOX	MANAGER-MEMBER SERVICES	3.20	Highest	$11,675	$54,877	$192,223
ONYI ATANMO	MARKETING AND COMMUNICATIONS MANAGER	33.75	Highest	$105,186	$21,694	$138,567

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	$2,705,541	$2,709,890	$624,978	$-4,349
2024	$2,852,211	$2,860,360	$391,223	$-8,149
2023	$2,700,881	$2,697,135	$601,041	$3,746
2022	$2,606,275	$2,593,865	$787,618	$12,410
2021	$2,504,269	$2,520,761	$1,118,949	$-16,492
2020	$4,041,476	$6,632,592	$1,270,207	$-2,591,116
2019	$4,135,568	$4,349,326	$3,716,097	$-213,758
2018	$3,926,942	$3,896,530	$3,729,679	$30,412

FOUNDATION FOR ACCOUNTING EDUCATION INC