Overview
What is The Educational Foundation Of The Kentucky Society Of Cpas Inc?
The Educational Foundation of the Kentucky Society of Certified Public Accountants (EFKSCPA) is a not-for-profit organization founded in 1961, with a mission to promote financial literacy among Kentucky's youth and expand the pipeline of financial professionals. They achieve this goal by introducing students throughout their education to the accounting profession and providing scholarships to college students pursuing a career in accounting. The foundation supports a CPA firm at Junior Achievement BizTown in Louisville and Lexington, providing hands-on learning experiences for approximately 28,000 fifth-graders annually. Furthermore, the EFKSCPA awards scholarships to college students after a comprehensive application process, with 52 scholarships totaling $60,500 awarded during the 2022-23 fiscal year. The foundation's fundraising efforts enable it to sustain the CPA firm at both BizTown locations and provide these scholarships, thanks to the generous support of the CPA community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
The Educational Foundation Of The Kentucky Society Of CPAs Inc demonstrates a strong commitment to accountability and finance, as reflected in its impressive 94% score, earning it a Four-Star rating. This rating indicates that the organization excels in managing its resources effectively, with a complete focus on financial accountability. The organization achieved top scores in all metrics assessed, showing that there are no material diversions of assets and a solid whistleblower policy in place.
Furthermore, the foundation benefits from an entirely independent board, which is crucial for maintaining objectivity and integrity in its governance. With a program expense ratio of 100%, it prioritizes its mission-related programs and initiatives, ensuring that donations are utilized effectively for their intended purpose.
Despite its strong performance in accountability and finance, the review does not highlight specific programmatic outcomes or impact stories, which could provide a fuller picture of the foundation's impact in the community. Overall, the foundation stands out for its financial health and governance practices, making it a trustworthy option for donors.
This AI summary has been generated from information found on Charity Navigator.
Is The Educational Foundation Of The Kentucky Society Of Cpas Inc legitimate?
The Educational Foundation Of The Kentucky Society Of Cpas Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Educational Foundation Of The Kentucky Society Of Cpas Inc 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of The Educational Foundation Of The Kentucky Society Of Cpas Inc?
The Educational Foundation of the Kentucky Society of Certified Public Accountants, established in 1961, is a non-profit organization with a mission to enhance the number of college degrees in various fields, particularly focusing on accounting. Their goal is to expand the pipeline of financial professionals in the business marketplace. Furthermore, they strive to improve the financial literacy of the youth in Kentucky by educating them about the opportunities in the accounting profession. The foundation provides scholarships to college students pursuing a career in accounting, revealing to them the boundless career opportunities available in this field.
Who is the CEO of The Educational Foundation Of The Kentucky Society Of Cpas Inc?
Darlene Zibart is the CEO of The Educational Foundation Of The Kentucky Society Of Cpas Inc The CEO's salary of The Educational Foundation Of The Kentucky Society Of Cpas Inc is $0 and their total compensation is $235,408.
What is the revenue of The Educational Foundation Of The Kentucky Society Of Cpas Inc?
The Educational Foundation Of The Kentucky Society Of Cpas Inc's revenue in 2024 was $264,194.
Who are the executives of The Educational Foundation Of The Kentucky Society Of Cpas Inc and what are their salaries?
There 15 volunteers at The Educational Foundation Of The Kentucky Society Of Cpas Inc.
Here are 10 key members and their salaries (The Educational Foundation Of The Kentucky Society Of Cpas Inc's CEO's salary is $0 and their total compensation is $235,408):
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Where can I find the form 990 for The Educational Foundation Of The Kentucky Society Of Cpas Inc?
The Educational Foundation Of The Kentucky Society Of Cpas Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of The Educational Foundation Of The Kentucky Society Of Cpas Inc
The Educational Foundation of the Kentucky Society of CPAs, established in 1961, is a not-for-profit organization with a dedication to enhancing the number of college degrees in Kentucky. Its mission is multifaceted, aimed at expanding the pipeline of financial professionals in the business marketplace, improving the financial literacy of the state's youth, and revealing the vast career opportunities available to those pursuing an accounting degree. This foundation serves as a bridge, introducing students at various educational levels to the accounting profession. It also provides scholarships to college students who are passionate about building a career in accounting. By doing so, The Educational Foundation of the Kentucky Society of CPAs contributes to the development of a skilled workforce in the financial sector and empowers the youth of Kentucky with the knowledge and resources needed to excel in this field.
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Impact
October, 2024
The Educational Foundation of the Kentucky Society of CPAs significantly impacts education and the accounting profession in Kentucky by introducing students to accounting early in their educational journeys. Through initiatives like the collaboration with Junior Achievement BizTown in Louisville and Lexington, the Foundation connects approximately 28,000 fifth-graders annually with the accounting profession. This hands-on learning experience enhances financial literacy and exposes students to various career opportunities in accounting.
Additionally, the Foundation plays a critical role in supporting college students pursuing degrees in accounting by providing scholarships. In the 2022-23 fiscal year alone, 52 scholarships totaling $60,500 were awarded, helping to alleviate financial barriers for aspiring accountants. With 28 named scholarships requiring substantial pledges, the Foundation engages the CPA community to ensure continued funding and support for these initiatives, addressing the industry's talent shortage.
The Foundation’s commitment to enhancing the educational landscape in Kentucky not only supports individual student success but also promotes the overall growth of the financial profession, thereby contributing to the long-term viability and sustainability of organizations in the marketplace. By fostering a pipeline of talented CPAs, the Foundation is integral to shaping the future of accounting in the region.
This information is meant to be a general summary of The Educational Foundation Of The Kentucky Society Of Cpas Inc. 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 2024.
- Investment Income: $29,770
- Gross Receipts: $493,308
Assets and Liabilities:
- Total Assets: $1,906,157
- Total Liabilities: $8,833
- Net Assets: $1,897,324
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Organization Details
Founding Year
1961
Principal Officer
Darlene Zibart
NTEE Category
Code: B90 - Education
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