Accounting Education Foundation of the Texas Society of Cpas Inc

Analysis

Accounting Education Foundation of the Texas Society of Cpas Inc is a registered charity in United States, based in Addison, TX. It received its IRS tax-exemption ruling in February 1961, 65 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Accounting Education Foundation of the Texas Society of Cpas Inc reported income of $2.3m and spending of $2.5m, spending 106% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income grew from $177k to $2.3m (+1223%), an average of +91% a year. The sharpest change came in the year to May 2023, when income rose by 624%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Accounting Education Foundation of the Texas Society of Cpas Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Variety Boys and Girls Club ($2.3m), Landing School of Boatbuilding and Design ($2.3m) and Active Transportation Alliance ($2.3m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 4.4% and program service revenue 87% of the total. Other salaries and wages came to $453k. At year end it held assets of $7.2m against liabilities of $590k, net assets of $6.6m.