MINNESOTA SOCIETY OF CERTIFIED PUB… - 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

1904

Legal Domicile

Principal Officer

LINDA WEDUL

Phone

9528312707

Tax Period

2024-04-01 to 2025-03-31

MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS, founded in 1904, is a community nonprofit that reported $5.9M in total revenue in fiscal year 2024. Expenses of $5.7M left a modest 5% surplus.

Mission

THE PURPOSE OF THE SOCIETY IS TO ELEVATE MEMBERS' IMPACT BY FOSTERING INTEGRITY, PROFESSIONAL GROWTH, AND CONNECTION, WHILE ADVOCATING FOR THE PROFESSION.

Program Service Accomplishments

Program 1

EDUCATIONAL ACTIVITIES ENABLE MEMBERS AND NONMEMBERS TO MEET REGULATORY REQUIREMENTS, ENHANCE PERSONAL DEVELOPMENT, AND INCREASE KNOWLEDGE TO MEET THE NEEDS OF THE FINANCIAL AND BUSINESS COMMUNITY...

EDUCATIONAL ACTIVITIES ENABLE MEMBERS AND NONMEMBERS TO MEET REGULATORY REQUIREMENTS, ENHANCE PERSONAL DEVELOPMENT, AND INCREASE KNOWLEDGE TO MEET THE NEEDS OF THE FINANCIAL AND BUSINESS COMMUNITY. ACTIVITIES INCLUDE LIVE SEMINARS, CONFERENCES, WEBINARS, AND ONSITE EDUCATION AND SALE OF SELF- STUDY PRODUCTS.

Program 2

MEMBERSHIP ACTIVITIES PROVIDED MORE THAN 7500 MEMBERS WITH OPPORTUNITIES FOR EDUCATION, PROFESSIONAL NETWORKING, CAREER ADVANCEMENT, AND PROMOTION OF THE CPA PROFESSION.

Program 3

COMMUNICATION ACTIVITIES INCLUDED THE PUBLICATION OF THE FOOTNOTE, THE MNCPA'S MAGAZINE FOR MEMBERS, PUBLICATION OF ELECTRONIC NEWSLETTERS, DEVELOPMENT AND MAINTENANCE OF THE MNCPA'S WEBSITE, WHICH DELIVERS INFORMATION TO THE GENERAL PUBLIC AS WELL AS ADDITIONAL CONTENT AND RESOURCES FOR MEMBERS, TRAINING FOR MEMBERS SPEAKING ON BEHALF OF THE CPA PROFESSION, AND THE DISTRIBUTION OF PROFESSION-RELATED PRESS RELEASES TO VARIOUS MEDIA OUTLETS. GOVERNMENT RELATIONS ACTIVITIES PROMOTED CPA INVOLVEMENT IN AND INFLUENCE ON THE POLITICAL PROCESS IN THE STATE OF MINNESOTA AND WITH MINNESOTA'S CONGRESSIONAL DELEGATION IN WASHINGTON. PROFESSIONAL STANDARDS ACTIVITIES INCLUDED ADMINISTRATION OF A PEER REVIEW PROGRAM, AND COORDINATION OF AN ETHICS PROGRAM TO ADDRESS COMPLAINTS AGAINST MEMBERS.

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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 $0

Program Service Revenue $5,445,254

Investment Income $308,830

Other Revenue $180,935

TOTAL REVENUE $5,935,019

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,672,777

Fundraising Expenses $0

Other Expenses $2,992,475

TOTAL EXPENSES $5,665,252

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,935,019	$6,090,529	0.0%
Expenses	$5,665,252	$6,263,241	-0.1%
Net Income	$269,767	$-172,712	-2.6%

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

867

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

$464,100

Total Directors

$2,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDA WEDUL	PRESIDENT AN	40.00	Officer	$231,103	$50,457	$281,560
FAYE HAYHURST	DIR. OF FINA	40.00	Officer	$153,826	$26,714	$180,540
LYNN KLETSCHER	DIR. OF EDUC	40.00	Highest	$146,319	$14,843	$161,162
GENO FRAGNITO	DIR. OF GOVE	40.00	Highest	$144,317	$28,061	$172,378
STEPHANIE SCHMIDT	DIR OF MEMB	40.00	Highest	$124,021	$29,639	$153,660
MISTY GARRICK	DIGITAL MANA	40.00	Highest	$114,462	$19,067	$133,529
DAVID MASTEL	IT MANAGER	40.00	Highest	$104,140	$33,155	$137,295
WARREN BOSTROM	CHAIR	2.00	Officer Director	$2,000	$0	$2,000
ERIC O'LINK	CHAIR ELECT	2.00	Officer Director	$0	$0	$0
SHAUNA ZWART	VICE CHAIR	2.00	Officer Director	$0	$0	$0
KARA HANSON	TREASURER	2.00	Officer Director	$0	$0	$0
SARA DEROO	SECRETARY	2.00	Officer Director	$0	$0	$0
ROBERT CEDERGREN	PAST CHAIR	2.00	Director	$0	$0	$0
ANN BRADER	DIRECTOR	2.00	Director	$0	$0	$0
DAVID BRAUER	DIRECTOR	2.00	Director	$0	$0	$0
CRAIG CHILCOTE	DIRECTOR	2.00	Director	$0	$0	$0
JERRY LEE	DIRECTOR	2.00	Director	$0	$0	$0
TREVOR LONG	DIRECTOR	2.00	Director	$0	$0	$0
LISA MILLER	DIRECTOR	2.00	Director	$0	$0	$0
BEN SCHLAUDERAFF	DIRECTOR	2.00	Director	$0	$0	$0
MATT SVENDSEN	DIRECTOR	2.00	Director	$0	$0	$0
JEN TINGLEY	DIRECTOR	2.00	Director	$0	$0	$0
CINDY WRECZA	DIRECTOR	2.00	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
2025	$5,935,019	$5,665,252	$10,731,870	$269,767
2024	$6,090,529	$6,263,241	$10,458,072	$-172,712
2023	$5,898,200	$6,005,655	$10,479,742	$-107,455
2022	$6,449,608	$5,471,180	$11,208,207	$978,428
2021	$5,876,058	$5,322,824	$8,729,873	$553,234
2020	$6,828,015	$6,815,355	$5,795,391	$12,660
2019	$7,212,176	$6,951,499	$7,862,782	$260,677

MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS