EDUCATIONAL & MEMORIAL FOUNDATION OF TENNESSEE SOCIETY OF CPAS (EIN 620854743) - Form 990 Financial Analysis & Trantor Score

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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

1971

Legal Domicile

Principal Officer

KARA N FITZGERALD

Phone

6153773825

Tax Period

2024-04-01 to 2025-03-31

EDUCATIONAL & MEMORIAL FOUNDATION OF TENNESSEE SOCIETY OF CPAS, founded in 1971, is a community nonprofit in the Education sector that reported $2.4M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year.

Mission

THE MISSION IS TO FURTHER THE STUDY, PRACTICE, AND/OR TEACHING OF ACCOUNTANCY AND RELATED FIELDS THROUGH PROVISION OF EDUCATIONAL OPPORTUNITIES TO THE CPA PROFESSION AND PROVIDING SCHOLARSHIPS FOR PROMISING YOUNG ACCOUNTING STUDENTS.

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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 $230,616

Program Service Revenue $2,010,600

Investment Income $125,152

Other Revenue $930

TOTAL REVENUE $2,367,298

Expense Breakdown

Grants Paid $275,000

Salaries & Benefits $782,955

Fundraising Expenses $0

Program Expenses $2,297,455

Other Expenses $1,372,722

TOTAL EXPENSES $2,430,677

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,367,298	$2,532,334	-0.1%
Expenses	$2,430,677	$2,373,358	+0.0%
Net Income	$-63,379	$158,976	-1.4%

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

113

Independent Members

113

Employees

N/A

Volunteers

113

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

$376,649

Total Directors

$123,717

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JONATHAN BAILEY	PAST CHAIR	1.00	Director	$0	$0	$0
KELLY CROW	CHAIR	1.00	Director	$0	$0	$0
HEATHER BATSON	CHAIR-ELECT	1.00	Director	$0	$0	$0
GINA PRUITT	TREASURER	1.00	Director	$0	$0	$0
RICHARD HILL	DIRECTOR	1.00	Director	$0	$0	$0
JENNEEN REED	DIRECTOR	1.00	Director	$0	$0	$0
DIMETA SMITH KNIGHT	DIRECTOR	1.00	Director	$0	$0	$0
KEITH O'CONNOR	DIRECTOR	1.00	Director	$0	$0	$0
MARILYN YOUNG	DIRECTOR	1.00	Director	$0	$0	$0
COURTNEY BACH	DIRECTOR	1.00	Director	$0	$0	$0
STEPHANIE FOWLER	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA MEINARDI	DIRECTOR	1.00	Director	$0	$0	$0
ALDEN WARD	DIR OF MEMBERSHIP ENGAGEMENT	40.00	Director	$0	$2,594	$123,717
KARA FITZGERALD	PRESIDENT/CEO	5.00	Officer	$0	$24,200	$376,649
KATHRYN B CHEEK	CHIEF OPERATING OFFICER	8.00	Highest	$0	$13,446	$165,851
JUSTIN J STEELE	DIR OF PROF DEVELOPMENT	39.00	Highest	$0	$1,200	$124,076
ALESHIA D GARRETT	DIR OF COMMUNICATIONS & TE	10.00	Highest	$0	$4,053	$112,253
MICHAEL LINDER	TECHNOLOGY PROJECT MANAGER	32.00	Highest	$0	$5,436	$105,827

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	$2,367,298	$2,430,677	$4,043,490	$-63,379
2024	$2,532,334	$2,373,358	$3,941,695	$158,976
2023	$2,396,486	$2,247,193	$3,624,629	$149,293
2022	$2,510,915	$2,145,586	$3,651,465	$365,329
2021	$2,449,705	$1,879,205	$3,327,612	$570,500
2020	$2,631,738	$2,494,407	$2,339,759	$137,331
2019	$2,673,369	$2,498,426	$2,477,143	$174,943

EDUCATIONAL & MEMORIAL FOUNDATION OF TENNESSEE SOCIETY OF CPAS