Overview
What is American Institute Of Certified Public Accountants Foundation?
The American Institute of Certified Public Accountants Foundation is a nonprofit organization situated in Durham, North Carolina. Its primary mission is to foster the development and enhancement of accounting education by offering scholarships to Ph.D. accounting students aiming to address the shortage of such faculty members at universities and colleges across the U.S. The foundation has supported over 100 Accounting Doctoral Scholars Program (ADS) scholars and introduced the Two-Year Transfer Scholarship in 2013, which assists students studying business, accounting, finance, or economics at two-year colleges and planning to major in accounting at a four-year institution. Moreover, the foundation provides financial assistance to John L. Carey Scholarship Program recipients pursuing graduate accounting studies. The Accounting Program for Building the Profession seeks to educate high school teachers to teach advanced accounting courses, with a long-term goal of obtaining the College Board's approval for a high school curriculum and examination accredited for Advanced Placement. Beyond scholarships, the foundation focuses on programs promoting cultural diversity in the accounting profession, ethical business behavior, and financial literacy.
Official website here: www.aicpa.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
The American Institute of Certified Public Accountants Foundation has achieved an impressive 96% rating from Charity Navigator, indicating a strong performance in terms of accountability and finance. With a perfect score of 100% in this area, the organization demonstrates a commitment to transparency and effective financial management, which is crucial for building trust among donors and stakeholders.
One of the notable strengths of the foundation is its governance structure, characterized by a board comprised entirely of independent members. This independence is essential for ensuring unbiased decision-making and accountability. Additionally, the foundation has comprehensive policies in place, including conflict of interest and whistleblower protections, which further enhance its operational integrity and ethical standards.
The foundation also excels in its financial performance, with 88.42% of its expenses allocated to programs. This high program expense ratio indicates a strong focus on fulfilling its mission rather than on administrative costs. Overall, the American Institute of Certified Public Accountants Foundation showcases exemplary practices in governance, financial management, and program effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is American Institute Of Certified Public Accountants Foundation legitimate?
American Institute Of Certified Public Accountants Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. American Institute Of Certified Public Accountants Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.aicpa.org
What is the mission statement of American Institute Of Certified Public Accountants Foundation?
The American Institute of Certified Public Accountants Foundation aims to advance the field of accounting by enhancing and improving accounting education. They achieve this through various programs focusing on cultural diversity in the accounting profession, ethical business behavior, and financial literacy, among other initiatives. The foundation supports accounting PhD students with scholarships to address the shortage of PhD accounting faculty at colleges and universities. They also provide financial assistance to students transitioning from two-year colleges to four-year institutions to pursue accounting majors. Furthermore, the Accounting Program for Building the Profession trains high school educators to teach advanced accounting courses, with the goal of achieving College Board approval for an accredited high school curriculum and examination for advanced placement.
Official website here: www.aicpa.org
Who is the CEO of American Institute Of Certified Public Accountants Foundation?
Timothy Laspaluto is the Trustee of American Institute Of Certified Public Accountants Foundation.
Official website here: www.aicpa.org
What is the revenue of American Institute Of Certified Public Accountants Foundation?
American Institute Of Certified Public Accountants Foundation's revenue in 2022 was $1,200,256.
Official website here: www.aicpa.org
Who are the executives of American Institute Of Certified Public Accountants Foundation and what are their salaries?
There 11 volunteers at American Institute Of Certified Public Accountants Foundation.
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Official website here: www.aicpa.org
Where can I find the form 990 for American Institute Of Certified Public Accountants Foundation?
American Institute Of Certified Public Accountants Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aicpa.org
Learn more at the official website: www.aicpa.org
Mission Statement of American Institute Of Certified Public Accountants Foundation
The American Institute of Certified Public Accountants Foundation is committed to advancing the field of accounting and enhancing accounting education. Its mission involves conducting programs that promote cultural diversity within the accounting profession, foster ethical business behavior, and encourage financial literacy, among other initiatives. The organization aims to develop and improve accounting education by addressing the shortage of PhD accounting faculty at colleges and universities through scholarships. Over 100 students enrolled in accounting doctoral programs across the United States have benefited from these scholarships.
In addition to its scholarship program, the American Institute of Certified Public Accountants Foundation also offers the Two-Year Transfer Scholarship, established in 2013. This award provides financial assistance to students at two-year colleges studying business, accounting, finance, or economics with a declared intent to major in accounting at a four-year college or university. Furthermore, the organization offers the John L. Carey Scholarship Program, providing financial aid for the pursuit of graduate accounting study.
Another significant initiative by the American Institute of Certified Public Accountants Foundation is the Accounting Program for Building the Profession. This program aims to train high school educators to teach advanced accounting courses. The long-term goal is to achieve the College Board's approval of a high school curriculum and examination that is accredited for advanced placement. By investing in education and research, the American Institute of Certified Public Accountants Foundation is dedicated to shaping the future of the accounting profession and fostering a more knowledgeable and diverse workforce.
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Impact
October, 2024
The American Institute of Certified Public Accountants Foundation significantly impacts the field of accountancy by advancing education and research initiatives. By providing scholarships to PhD students, the Foundation addresses the shortage of accounting faculty at colleges and universities, fostering a new generation of educators and researchers.
The Foundation's commitment to accessibility is evident in programs like the Two-Year Transfer Scholarship, which assists students from two-year colleges in pursuing four-year degrees in accounting. This creates pathways for aspiring accountants, especially from diverse backgrounds. Additionally, the John L. Carey Scholarship Program supports graduate studies, further enhancing the quality of accounting education.
The Foundation also prioritizes cultural diversity in the accounting profession and ethical business behavior. One of its key initiatives focuses on training high school educators to teach advanced accounting courses, with the goal of obtaining College Board approval for a high school curriculum. This effort not only promotes early engagement with the subject but also cultivates a diverse future workforce in accounting.
Overall, the Foundation's programs are instrumental in elevating accounting education, ensuring ethical practices, and fostering financial literacy, thereby addressing crucial gaps in the profession and promoting its sustainable growth.
This information is meant to be a general summary of American Institute Of Certified Public Accountants Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $368,856
- Gross Receipts: $2,029,949
Assets and Liabilities:
- Total Assets: $8,850,047
- Total Liabilities: $691,913
- Net Assets: $8,158,134
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Organization Details
Founding Year
1922
Phone
(919) 402-4500Principal Officer
Timothy Laspaluto
Main Address
220 LEIGH FARM ROAD, DURHAM, NC, 277078110
Website
www.aicpa.orgNTEE Category
Code: B03 - Education
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