NSAC Mission Statement and Goals

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.

Mission Statement

NSAC serves cooperatives by providing accounting, tax and business education uniquely tailored to professionals working for and with cooperatives; providing networking and professional development opportunities for members, prospective members and others supporting the cooperative sector; and participating in standard-setting and implementation processes enabling members to effectively apply those accounting standards.

Goals

Recent Happenings

Patronage or Non-patronage? The Internal Revenue Service provides guidance on the determination of patronage for two rural telephone cooperatives.

Patronage or Non-patronage? The Internal Revenue Service provides guidance on the determination of patronage for two rural telephone cooperatives.

During the first half of 2022, the Internal Revenue Service (the “Service”) released two private letter rulings (“PLRs” or a “PLR”) that addressed unique situations impacting rural telephone cooperatives. In the first PLR, the Service concluded that a portion of a gain realized by a consolidated corporate subsidiary of the cooperative could be excluded from consolidated gross income if properly allocated to ...

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ESG and Cybersecurity Compliance Are Every Employee’s Concern

ESG and Cybersecurity Compliance Are Every Employee’s Concern

The following opinion piece was written by Wharton legal studies and business ethics lecturer Leeza Garber, Esq., and Allison Jegla, global director of impact at 100 Women in Finance. In late spring 2022, the Securities and Exchange Commission (SEC) charged an elite investment adviser for “misstatements and omissions” about Environmental, Social, and Governance (ESG) considerations related to its managed mutual funds. This same ...

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