Accounting Aid Society

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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

Phone

3135561920

Tax Period

2024-07-01 to 2025-06-30

Accounting Aid Society, founded in 1972, is a community nonprofit in the Community Improvement sector that reported $4.5M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $4.3M left a modest 6% surplus.

Mission

Accounting Aid Societys mission is to help grow an economy for individuals, families and small businesses in Detroit and Southeastern Michigan. We do this by providing free tax preparation, small business financial services, financial coaching and call center workforce training.

Program Service Accomplishments

Program 1

Expenses: $2,991,150 Revenue: $1,299,435

This project enables the Volunteer Income Tax Assistance (VITA) program to extend services to underserved populations in hardest-to-reach areas, both urban and non-urban; increase the capacity to...

This project enables the Volunteer Income Tax Assistance (VITA) program to extend services to underserved populations in hardest-to-reach areas, both urban and non-urban; increase the capacity to file returns electronically; heighten quality control; enhance training of volunteers; and improve significantly the accuracy rate of returns prepared at VITA sites.

Program 2

Expenses: $419,278 Revenue: $140,919

Accounting Aid Academy helps hundreds of micro and small businesses increase their financial acumen, expand their physical footprint, and become more creditworthy through the one-on-one consultation...

Program 3

Expenses: $244,315 Revenue: $177,540

The Clinic works to meet the goal of delivering a three-prong program to represent, educate, and advocate for low-income taxpayers and for taxpayers for whom English is a second language and resolve...

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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 $4,316,647

Program Service Revenue $140,919

Investment Income $28,837

Other Revenue $11,685

TOTAL REVENUE $4,498,088

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,307,859

Fundraising Expenses $178,001

Program Expenses $3,654,743

Other Expenses $942,401

TOTAL EXPENSES $4,250,260

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,498,088	$3,778,043	+0.2%
Expenses	$4,250,260	$3,968,271	+0.1%
Net Income	$247,828	$-190,228	-2.3%

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

399

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

$172,632

Total Directors

Key Employees