Society Urges Members to Contribute to PAC

By Frank Pagani

The NYSSCPA encourages its members to contribute to the Society's new political action committee, which the board of directors formed recently to strengthen the profession's voice with the New York State Legislature.
Effective with the April dues statements, members can contribute to the committee, known as the New York State Society CPAPAC, through a check-off option on their dues invoice. The Society suggests a $25 initial contribution.

"By pooling our political resources, all members will benefit," NYSSCPA President George T. Foundotos (Suffolk) said. "Members' contributions will make our legislators aware that CPAs are actively involved in issues affecting this state."

Board of Election Requirements

CPAPAC gives the profession another vehicle to express its concerns on professional and business issues. Under New York state election laws, the Society itself can contribute only $5,000 per calendar year to state candidates or committees, but this cap does not apply to PACs.

The New York State Board of Election has specific requirements on how certain membership classes can contribute. For members employed in a partnership, LLP, or LLC, the law permits the Society to add the $25 suggested contribution directly to members' dues invoices. Employers at these organizations can reimburse their employees' CPAPAC contributions in the same manner that many now reimburse membership dues. As the Society processes dues invoices, it will send PAC contributions directly to the committee fund.

Different requirements govern members in industry, government, education, or professional corporations. They must indicate on a check-off option on their dues statements that they wish to support the committee fund, and they must write a separate check for their contribution, payable to the New York State Society CPAPAC. Employers cannot reimburse PAC contributions of employees at public corporations, institutions, and professional corporations.

In addition, the board of election does not permit non-U.S. citizens to contribute to CPAPAC.

PAC Benefits

Until the NYSSCPA board's action, the Society was one of a few organizations in New York state that did not have a political action committee. CPAPAC will make it possible for the Society to compete effectively with other state groups and organizations in getting the attention of elected officials.

"The issues facing CPAs in today's business environment impose immense challenges for our profession. CPAPAC will give us the financial clout we need to open doors to be heard," Foundotos said.

The PAC also will give members a greater sense of participation in supporting the profession, foster a positive identification between the NYSSCPA and the contribution to the candidate, and provide additional financial support for Society members who are often asked on a personal basis to attend fund-raising events.