Overview
What is Accounting Aid Society?
Accounting Aid Society is a nonprofit organization situated in Detroit, Michigan, specifically at 3031 West Grand Blvd Suite 470. With a team of 79 dedicated individuals, this organization plays a significant role in positively impacting over 14,000 lives annually. Their mission is geared towards fostering an inclusive economy in Detroit and Southeastern Michigan. They achieve this by offering a range of services, such as providing free tax preparation, small business financial services, financial coaching, and call center workforce training. By doing so, Accounting Aid Society helps individuals, families, and small businesses build a solid financial foundation, ultimately contributing to $27 million in economic impact on low and middle-income households. The organization's volunteer force of over 150 individuals donates invaluable time and effort, contributing more than 7,500 hours to the cause. This nonprofit organization's work is instrumental in ensuring that essential funds are redirected to Detroit neighborhoods, often used for basic necessities like food, utilities, transportation, and rent.
Official website here: www.accountingaidsociety.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 96%, Four-Star out of Four Star rating.
The Accounting Aid Society has achieved an impressive rating of 96%, reflecting its strong accountability and financial management practices. With a perfect score in governance metrics, such as having 100% independent board members and robust oversight mechanisms, the organization demonstrates a commitment to transparency and ethical practices. Their financial ratios indicate a healthy management of resources, with a significant 82.83% of expenses directed toward programs.
The organization also excels in fundraising efficiency, with only $0.07 spent to generate each dollar of revenue, which further underscores its effective operational model. However, while the liabilities to assets ratio is reasonable at 33.22%, it may be an area to monitor for future sustainability. Overall, the high scores in equity strategies and community engagement reflect a solid alignment with their mission and a positive impact on the communities they serve.
While the data presents a favorable view of the organization, potential donors and stakeholders may want to continue observing how the society adapts to changing economic conditions and community needs. Nonetheless, the Accounting Aid Society stands out as a well-managed nonprofit with a clear focus on delivering value to its clients and maintaining ethical standards.
This AI summary has been generated from information found on Charity Navigator.
Is Accounting Aid Society legitimate?
Accounting Aid Society is a legitimate nonprofit organization registered as a 501(c)(3) entity. Accounting Aid Society 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $233,251
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,959,870
For more financial information, click here
Official website here: www.accountingaidsociety.org
What is the mission statement of Accounting Aid Society?
The Accounting Aid Society's mission is centered around fostering economic growth for individuals, families, and small businesses. They achieve this by offering free tax preparation services, small business financial assistance, financial coaching, and call center workforce training. Annually, they impact over 14,000 lives, contributing an estimated $27 million to the economy for low and middle-income households. Their services, primarily volunteered by over 150 individuals, are designed to promote sustainable and equitable growth in communities. By providing these essential services, the Accounting Aid Society assists in gaining economic self-sufficiency, enabling its clients to become active participants in their local economy.
Official website here: www.accountingaidsociety.org
Who is the CEO of Accounting Aid Society?
John Anstett is the Treasurer of Accounting Aid Society. The CEO's salary of Accounting Aid Society is $141,015 and their total compensation is $141,015.
Official website here: www.accountingaidsociety.org
What is the revenue of Accounting Aid Society?
Accounting Aid Society's revenue in 2022 was $3,418,854.
Official website here: www.accountingaidsociety.org
Who are the executives of Accounting Aid Society and what are their salaries?
The average compensation at Accounting Aid Society during 2022 was $27,761. There are 79 employees and 157 volunteers at Accounting Aid Society.
Here are 25 key members and their salaries (Accounting Aid Society's CEO's salary is $141,015 and their total compensation is $141,015):
- Compensation: $141,015
- Related: $0
- Other: $0
- Compensation: $92,262
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.accountingaidsociety.org
Where can I find the form 990 for Accounting Aid Society?
Accounting Aid Society's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.accountingaidsociety.org
Learn more at the official website: www.accountingaidsociety.org
Mission Statement of Accounting Aid Society
The Accounting Aid Society, a nonprofit organization, is committed to fostering economic growth for individuals, families, and small businesses within Detroit and Southeastern Michigan. They achieve this mission by offering a range of free services, including tax preparation, small business financial assistance, financial coaching, and call center workforce training. These services aim to provide a foundation for economic independence, enabling their clients to meet their basic needs and contribute to their communities. The Accounting Aid Society's efforts are instrumental in diverting substantial financial resources back into Detroit neighborhoods, ultimately having an economic impact of $27 million on low and middle-income households annually. With the help of over 150 dedicated volunteers, the organization provides over 7,500 hours of assistance, empowering individuals to prosper and become integral parts of the regional economy.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Accounting Aid Society plays a critical role in fostering economic growth for individuals, families, and small businesses in Detroit and Southeastern Michigan. By providing essential services such as free tax preparation, small business financial assistance, financial coaching, and call center workforce training, it directly addresses the financial challenges faced by low and middle-income households.
Each year, the organization touches the lives of over 14,000 individuals, generating an impressive economic impact of $27 million. This influence is felt as the funds saved from tax preparation and financial services are reinvested into local neighborhoods, helping families meet their basic needs like food, utilities, transportation, and rent.
More than 150 dedicated volunteers contribute over 7,500 hours to empower these clients on their journey toward economic independence. The comprehensive support offered by Accounting Aid Society is designed to promote sustainable and equitable growth, enabling clients to build a prosperous future and actively participate in the economic fabric of their community. Through its efforts, the organization not only catalyzes individual success but also advocates for broader community improvement and resilience in Detroit.
This information is meant to be a general summary of Accounting Aid Society. 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: $2,086
- Program Service Revenue: $89,762
- Gross Receipts: $3,449,659
Assets and Liabilities:
- Total Assets: $2,359,795
- Total Liabilities: $240,118
- Net Assets: $2,119,677
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DTE Home Heating Credit
Revenue
$75,000
Accounting Aid Academy
Revenue
$8,762
VITA income
Revenue
$6,000
Organization Details
Founding Year
1972
Principal Officer
John Anstett
Main Address
3031 West Grand Blvd Suite 470, Detroit, MI, 48202
Website
www.accountingaidsociety.orgNTEE Category
Code: S50Z - Community improvement
If you are a representative of Accounting Aid Society and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.