2024-11-13T13:29:42-06:00 2024-03-31 582676261 Rogers & Company PLLC 8300 Boone Boulevard Suite 600 Vienna VA 22182 990 2023-04-01 066042593 Connecticut Society of CPAs Accounting Scholarship Foundation CONN 8602584800 716 Brook Street 100 Rocky Hill CT 060673433 Bonnie Stewart Executive Director 8602584800 2024-11-11 1 1 Yong Zhang CPA P01249785 7038930300 2024-11-05 2023 2024-10-15 13:58:12Z Bonnie Stewart 716 Brook Street 100 Rocky Hill CT 060673433 79210 0 X https://www.ctcpas.org/asftrustees X 1952 CT See Part III. 7 7 0 25 0 0 29481 26361 0 0 32845 35864 2658 -5335 64984 56890 45500 50500 0 0 0 0 0 0 0 4003 6536 49503 57036 15481 -146 973078 1025754 2250 6 970828 1025748 X Organized to attract, develop, and support persons of high academic achievement and good character to obtain a post-secondary education in accounting and to encourage them to become members of the accounting profession in the state of Connecticut by funding and awarding scholarships, fellowships, and other awards to individuals and to student accounting societies. 0 0 55678 50500 The Accounting Scholarship Foundation supports Connecticut educational institutions at the secondary and college/university levels through grants, scholarships and other programming aimed at increasing awareness of and support for the profession. 55678 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 7 7 0 0 1 0 0 0 0 1 0 0 0 1 0 1 1 0 0 0 CT X Bonnie Stewart 8602584800 716 Brook Street 100 Rocky Hill CT 060673433 X Ralph Anderson Chair 1.00 X X 0 0 0 Brad M Oatley Trustee 1.00 X 0 0 0 Caitlin Nero Trustee 1.00 X 0 0 0 Lany Pfeifer Trustee 1.00 X 0 0 0 Michael Cefole Trustee 1.00 X 0 0 0 Michael Delaney Trustee 1.00 X 0 0 0 Stefan Prins Trustee 1.00 X 0 0 0 Bonnie Stewart Executive Director 1.00 X 0 0 0 0 0 0 0 0 0 0 0 20023 6338 26361 25234 25234 10630 0 10630 10630 10630 16270 20023 21605 -5335 -5335 715 715 0 56890 0 0 30529 50500 50500 5966 5178 788 570 570 57036 55678 1358 0 92641 49588 3500 879632 970563 805 2103 973078 1025754 6 2250 2250 6 X 970828 1025748 970828 1025748 973078 1025754 -146 55066 0 X 1 X 0 1 0 X 59387 20257 51779 29481 26361 187265 59387 20257 51779 29481 26361 187265 219 187046 35303 33395 50089 32845 25234 176866 34598 23322 16985 74905 439036 0.42600 0.45400 X Schedule A, Part II, Line 10, Explanation of Other Income: Fundraising Income - 2021 Amount: $ 28,658. 2022 Amount: $ 17,365. 2023 Amount: $ 16,270. Gaming Income - 2021 Amount: $ 5,940. 2022 Amount: $ 5,957. 2023 Amount: $ 715. Sch A, Part III, Line 20, Alternative Public Support Test The Foundation is organized under section 509(a)(2); however, checks the box for Part III, Line 20 for the current tax year. Per the instructions issued by the IRS related to the 2021 Schedule A (Form 990), "If the Foundation checked the box in Part I, for line 10, and also checks the box in Part III, for line 20, the Foundation should complete Part II to determine if it qualifies as a publicly supported organization under section 170(b)(1)(A)(vi). If it does qualify, the Foundation should instead check the box in Part I, for line 5, 7, or 8, whichever applies." 0 X Part X, Line 2: The Foundation is exempt from payment of taxes on income other than net unrelated business income under IRC Section 501(c)(3), and qualifies to receive charitable donations under IRC Section 170(b)(1)(A)(vi). 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. Golf Tournament 36293 20023 16270 2836 17080 765 924 36293 20023 16270 2836 17080 765 924 21605 -5335 1 Scholarships for students attending school to obtain an accounting degree. 21 50500 0 Part I, Line 2: Grants are documented and used by the five University accounting departments. Uses are reviewed by the Board. Form 990, Part VI, Section A, line 4 The Scholarship Foundation made changes to the Declaration of Trust and they are as follows: 5. Trustees. c. Resignation; Removal; Vacancies. Any Trustee may resign from office at any time or be removed with or without cause in the manner specified in this subparagraph. The removal of a Trustee shall require the vote of the President and three-fourths (3/4) of the persons then serving as Trustees. The resignation or removal of a Trustee, and the appointment of successor Trustees shall be made by an instrument in writing. The President shall appoint replacement or successor Trustees in the event of a vacancy arising as the result of the death, disability, resignation, or removal of a Trustee. However, for purposes of this Section, service in filling a vacancy on the Board of Directors for less than a full term shall not be considered a term on the Board of Directors. Notwithstanding the existence of any vacancy, Trustees may act so long as there is at least one (1) Trustee then serving. Every successor or replacement Trustee shall have the same powers and duties as those conferred upon the Trustees named in this Agreement. d. Quorum and Voting Requirements. A majority of the Trustees shall constitute a quorum for the transaction of business. The affirmative vote of a majority of the Trustees shall be required for any decision or action by the Trustees; provided, however, that the following four (4) matters shall require the vote of three-fourths (3/4) of the persons then serving as Trustees: (i) the removal of a Trustee (which shall also require the vote of the President), (ii) amendments to this Agreement (which, other than for administrative and compliance amendments, shall also require the vote of the majority of the members of the Society attending the annual meeting of the Society, (iii) a decision to terminate the Foundation (which shall also require the vote of the majority of the members of the Society attending the annual meeting of the Society), or (iv) a decision to form a corporation to act as successor to the Foundation (which shall also require the vote of the majority of the members of the Society attending the annual meeting of the Society). 6. Accounting by Trustees. The Trustees shall report concerning their administration of the Foundation to the Board of Directors at least annually and shall prepare and file as often as required state and federal tax returns, notices, or other documents, and shall take all other actions as are required by state or federal law with respect to the proper operation and administration of the Foundation and its fund. An attestation agreement of the books and records of the Foundation shall be conducted annually by the auditor of the Society's independent CPA firm at the Society's expense. 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 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 A copy of form 990 is provided to the Foundation's governing body prior to filing for their review and comments. Form 990, Part VI, Section B, line 12 Due to the Foundation's size, management does not believe that it is necessary to have a written Conflict of Interest Policy. Form 990, Part VI, Section C, line 19 The Foundation makes its governing documents and financial statements available to the public upon request.