2024-12-18T10:18:57-06:00 2024-03-31 582676261 Rogers & Company PLLC 8300 Boone Boulevard Suite 600 Vienna VA 22182 990 2023-04-01 060762300 Connecticut Society of Certified Public Accountants Inc CONN 8602584800 716 Brook Street 100 Rocky Hill CT 060673433 Bonnie Stewart Executive Director 8602584800 2024-12-17 1 1 Yong Zhang CPA P01249785 7038930300 2024-12-12 2023 2024-10-15 13:58:12Z Bonnie Stewart 716 Brook Street 100 Rocky Hill CT 060673433 2468312 0 X www.ctcpas.org X 1908 CT The mission of the CTCPA is to be the professional association in CT that promotes and supports state CPAs through advocacy, community and education. 6 6 14 1090 39070 0 310235 3200 2405603 2372899 32007 34073 28044 34081 2775889 2444253 0 0 0 0 1100864 1036941 0 0 0 1348406 1390912 2449270 2427853 326619 16400 2670383 2725344 568106 498102 2102277 2227242 To promote, advance and help preserve professional standards of conduct within the field of public accounting in the state of Connecticut. 0 0 Advocacy - to protect the certified public accounting profession from adverse legislation and regulation and to uphold the public interest in transparent financial reporting. The CTCPA interacts with such groups as the Connecticut General Assembly, Connecticut Department of Revenue Services, Connecticut Department of Banking, Internal Revenue Service, Department of Labor, State Board of Accountancy, Department of Consumer Protection, Financial Accounting Standards Board and Governmental Accounting Standards Board. Serving 6,280 members. Member Services and Communications - to provide a home for CPAs in public accounting, private industry, education, and government to meet, discuss, and address enhancing professional quality in a changing environment. The CTCPA provides opportunities for social interaction between CPAs, with associated professions, and with relevant regulatory agencies. Serving 6,280 members. Professional Development - licensed CPAs are required by law to obtain 40 hours of continuing professional education (CPE) each year. As professional standards, tax laws, and business practices change, the CPA must continually work to stay current. The CTCPA provides in-person and on-line continuing professional education and administers the Connecticut Peer Review Program. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 21 0 1 14 1 1 1 0 0 0 1 1 0 0 0 X 6 6 0 0 1 0 0 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X Bonnie Stewart 8602584800 716 Brook Street 100 Rocky Hill CT 060673433 Timothy Hedley Chair 1.00 X X 0 0 0 Kevin Lawlor Chair-elect 1.00 X X 0 0 0 Mary Manfredi Treasurer 1.00 X X 0 0 0 Muhammad Malloy Secretary 1.00 X X 0 0 0 Amber Moore Advisory Council Chair 1.00 X 0 0 0 Christopher King Member-at-Large 1.00 X 0 0 0 Kariann McDougall Member-at-Large 1.00 X 0 0 0 Rachel Tressy Member-at-Large 1.00 X 0 0 0 Karen Zeilnhofer Member-at-Large 1.00 X 0 0 0 Bonnie Stewart CEO/Exec Director 37.50 X 229758 0 28622 Lisa Bugryn CPE Director 37.50 X 102399 0 6153 332157 0 34775 2 0 1 0 Don Farmer CPA PA 508 Mulberry Street SW PO box Lenoir NC 28645 CPE Provider 110863 1 3200 3200 Conferences & CPE 611600 1218011 1148211 69800 Membership Dues 541900 1115818 1115818 Advertising 541800 39070 39070 2372899 58132 58132 10429 10429 22686 1373 -22686 -1373 -24059 -24059 Other Income 900099 23652 23652 23652 2444253 2264029 39070 137954 287393 623280 33330 32637 60301 1330 67332 49719 190973 2662 81976 181345 234112 32375 260714 27653 Professional developmen 192606 Magazine Expenses 32549 Member Services 12271 Dues and memberships 7037 16258 2427853 697349 744480 300 12629 27402 35730 33797 510793 471073 68745 39720 1610050 1742683 245580 137262 2670383 2725344 140147 144861 194086 226629 233873 126612 568106 498102 X 2102277 2227242 2102277 2227242 2670383 2725344 16400 108565 0 X X 1 X 0 1 0 0 0 1 1115818 66401 -80319 -13918 22316 -36234 124184 124184 0 174333 174333 0 212276 172556 39720 39720 Security deposits 18294 Right-of-use asset - operating lease 118968 137262 Due to Affiliates 2103 Lease liability - operating lease 124509 126612 X Part X, Line 2: The CTCPA is recognized as a tax-exempt organization under IRC Section 501(c)(6), and is exempt from income taxes except for taxes on unrelated business activities. No tax expense is recorded in the accompanying consolidated financial statements, as there was no significant net unrelated business taxable income. Management has evaluated the CTCPA's and the Foundation's tax positions and concluded that the consolidated financial statements do not include any uncertain tax positions. X X X 0 0 0 Bonnie Stewart CEO/Exec Director 211194 0 15000 0 3564 0 14839 0 13783 0 258380 0 0 0 Form 990, Part VI, Section A, line 4 The Society's bylaws were amended to state the following: VII. Committee 7.6 Audit-Review Committee It shall be the duty of those members of the Board of Directors other than the Chair and the Chair-Elect to appoint an audit-review committee to recommend an independent CPA firm for an attestation engagement to the Board of Directors and the Accounting Scholarship Foundation Foundation). The audit-review committee shall consist of five (5) members. The Chair of the audit-review committee shall be one of the at-large members of the Board of Directors. The remaining four (4) members of the audit-review committee shall be voting members of the Society who are in good standing and not serving as an officer or director. The CPA selected by such members of the Board of Directors will: - For the Society: conduct an attestation engagement of no less than a review of the financial statements of the Society as of the end of every fiscal year and at other times as the Board of Directors may direct. - For the Foundation: conduct an attestation engagement of the financial statements as of the end of every fiscal year and at other times as the Foundation Board of Trustees may direct. The type of engagement in attestation may differ between the Society and the Foundation unless the Society requires consolidated or combined financial statements, in which case the CPA shall conduct the same level of attestation engagement for the Society and the Foundation. Form 990, Part VI, Section A, line 7a The CTCPA is a nonstock organization that has members who, in certain circumstances, have the right to nominate and vote on (at CTCPA's annual meeting) candidates to sit on the governing board. Form 990, Part VI, Section A, line 7b Changes to CTCPA'S bylaws require approval of the membership. Form 990, Part VI, Section A, line 8b During the tax year, there were no committees with broad authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b The form 990 review is a regular agenda item at a Board of Directors meeting and is reviewed by the audit committee prior to going to the Board of Directors. The Board of Directors reviews the Form 990 prior to filing. Form 990, Part VI, Section B, line 12c The Conflict of Interest Policy is reviewed annually and signed by the board members, ethic committee members, and peer review committee members. The CTCPA bylaws specify the Roberts Rules of Order use. The CTCPA requires anyone who needs to recuse themselves due to a conflict physically leave the room or virtual platform during the discussions and not return until after the matter has been decided. The CTCPA's bylaws specify that any member of these bodies who knowingly fails to disclose a possible or actual conflict of interest must be brought before the Board of Directors. If, after hearing from the member and any further investigative work needed, the Board determines the member, in fact, knowingly failed to disclose the conflict of interest, the Board will take appropriate disciplinary and corrective measures. Form 990, Part VI, Section B, line 15a The Board of Directors approves the written full-time employment agreement of the Executive Director. The contract is for three years and the last pay review was in April 2023. During the fiscal year 2023, the Executive Director received a bonus rather than a wage adjustment. No review process for officer level compensation took place during the fiscal year because there were no officer level compensation changes from the prior year. When raises occur, they are based merit and the wage adjustment pool is approved by the Board of Directors as part of the budget process. Form 990, Part VI, Section C, line 19 The CTCPA's governing documents, financial statements, and Conflict of Interest Policy are available upon request. Form 990, Part XII, Line 2c No changes from prior year.