About NSAC

The National Society of Accountants for Cooperatives (NSAC) is a professional society, formed in 1936, comprised of approximately 1,500 individual members actively involved with the financial management and planning of cooperative business. NSAC members are either employed by a cooperative or provide professional services for cooperatives.

The National Society of Accountants for Cooperatives (NSAC) serves individual members and their respective organizations. Employees of cooperatives such as CFOs, controllers, tax directors/managers, accountants, bookkeepers, office managers, internal auditors, in-house legal staff, and other financial professionals are included as members. Professional service providers advising cooperatives such as CPAs, attorneys, banking professionals, government employees advising cooperatives and cooperative association employees are amongst members as well.

The organization provides professionals with education, resources, and connections needed to stay actively involved and on the cutting edge when it comes to the financial management and planning of cooperative business.

In 1935, auditors for the Northern States Cooperative League began holding regular meetings and discussing the need for collaboration and a more formalized organization. Out of these meetings, the National Society of Accountants for Cooperatives was formed:

1943 – Formally structures as an independent, nonprofit corporation
1948 – Begins publishing The Cooperative Accountant
1952 – Publishes first cooperative accounting report
1980 – Hires first professional manager
1998 – Organizes nationwide Electric Cooperative Chapter
2001 – Begins actively participating in FASB projects that impact co-ops
2008 – Becomes industry leader in international accounting standards development
2011 – Celebrates 75th Anniversary
2015 – Partners with the NRECA to bring the profession the premier tax, finance and accounting conference for cooperatives
2020 – Continues efforts to bring more virtual opportunities to professionals globally

Upcoming Events

Employee Retention Credits (ERC)
August 23, 2022

Employee Retention Credits (ERC)

A panel of experienced tax professionals from three prominent accounting firms will discuss the requirements and pitfalls in claiming Employee Retention Credits.  This seventy-five-minute session will focus on “essential businesses” such as many agricultural, grocery, and electric cooperatives.

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2022 NSAC Annual Report: The Perfect Connection
August 25, 2022

2022 NSAC Annual Report: The Perfect Connection

Tune into our Annual Report as we explore NSAC’s vision for the future. Members will hear from outgoing President Dave Antoni as he recaps NSAC’s accomplishments over the last year and welcomes our incoming President, Eric Krienert, as he discusses his hopes and goals for where NSAC is headed.

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Managing the Financial Risks of the IRS Form 8300 Mandates
October 11, 2022

Managing the Financial Risks of the IRS Form 8300 Mandates

This session will focus on the numerous reporting requirements that carry significant penalties for noncompliance. It will also present best practices in designing a cooperative-specific compliance process to avoid common and costly pitfalls.

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