INDEPENDENT ACCOUNTANTS ASSOC OF MI

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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

1947

Legal Domicile

Principal Officer

RICHARD L PETRUCHA

Phone

5176417505

Tax Period

2023-10-01 to 2024-09-30

INDEPENDENT ACCOUNTANTS ASSOC OF MI, founded in 1947, is a small nonprofit that reported $238K in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year. Expenses of $269K exceeded revenue, resulting in a 13% operating deficit.

Mission

THE MISSION OF THIS CORPORATION IS TO PROTECT THE RIGHTS OF ITS MEMBERS; TO PROVIDE SERVICES AND EDUCATIONAL OPPORTUNITIES FOR MEMBERS; TO IMPROVE AND ENHANCE MEMBER SKILLS; AND UPHOLD THE INTEGRITY OF THE ACCOUNTING AND TAX PREPARATION PROFESSION.

Program Service Accomplishments

Program 1

EDUCATION IS THE PRIMARY AND LARGEST ACTIVITY ENGAGED IN BY THE CORPORATION. MULTIPLE SEMINARS ARE OFFERED THROUGHOUT THE YEAR TO PROVIDE CONTINUING PROFESSIONAL EDUCATION OPPORTUNITIES TO MEMBERS...

EDUCATION IS THE PRIMARY AND LARGEST ACTIVITY ENGAGED IN BY THE CORPORATION. MULTIPLE SEMINARS ARE OFFERED THROUGHOUT THE YEAR TO PROVIDE CONTINUING PROFESSIONAL EDUCATION OPPORTUNITIES TO MEMBERS WHO ARE ACCREDITED BUSINESS ACCOUNTANTS, ENROLLED AGENTS, CERTIFIED PUBLIC ACCOUNTANTS AND FINANCIAL PLANNERS. ALL SEMINARS ARE VIRTUAL.

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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 $0

Program Service Revenue $230,164

Investment Income $7,609

Other Revenue $0

TOTAL REVENUE $237,773

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $268,922

TOTAL EXPENSES $268,922

Year-over-Year Comparison

	2023	2022	Change
Revenue	$237,773	$290,101	-0.2%
Expenses	$268,922	$299,793	-0.1%
Net Income	$-31,149	$-9,692	+2.2%

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

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATTY BEAUCHAMP	VICE PRESIDE	N/A	Officer	$0	$0	$0
RICHARD L PETRUCHA	TREASURER	N/A	Officer	$0	$0	$0
RICHARD L PETRUCHA	DIRECTOR	N/A	Director	$0	$0	$0
GARY CARLISLE	DIRECTOR	N/A	Director	$0	$0	$0
DAVID VANDERHOVEL	SECRETARY	N/A	Officer	$0	$0	$0
RODERICK BIGGAR	DIRECTOR	N/A	Director	$0	$0	$0
NEIL HAACK	DIRECTOR	N/A	Director	$0	$0	$0
JIM OLSON	DIRECTOR	N/A	Director	$0	$0	$0
MAHA-RABAH KHALIL	PRESIDENT	N/A	Officer	$0	$0	$0
GAYLE ARNOLD	DIRECTOR	N/A	Director	$0	$0	$0

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
2024	$237,773	$268,922	$402,186	$-31,149
2023	$290,101	$299,793	$385,604	$-9,692
2022	$328,730	$291,220	$401,291	$37,510
2021	$283,753	$263,081	$415,060	$20,672
2020	$308,605	$306,583	$393,311	$2,022
2019	$349,790	$359,841	$397,371	$-10,051
2018	$370,748	$379,369	$453,054	$-8,621