Detroit Community: Accounting Aid Society
Masco is proud to continue our decades of support for the Detroit-based nonprofit Accounting Aid Society, which was recently named Crain’s 2020 Best-Managed Nonprofit with revenue under $3 million. With the vision of creating an economy that works for everyone, Accounting Aid Society provides tax assistance and other services to promote the economic self-sufficiency of middle to low income families, seniors and others in need through programs, volunteerism and partnerships. In 2020, despite COVID-19 necessitating a sudden shift to virtual services halfway through their usual tax season, Accounting Aid Society completed tax returns for more than 14,000 taxpayers, saving them an estimated $3.6 million in commercial tax prep fees, and providing over $14 million in tax refunds and credits.
John Anstett, Director of Tax Operations at Masco who sits on the Board of Directors for Accounting Aid Society and is also its Treasurer, says, “One reason I am so proud to serve on the board is that their work impacts women and women-led households more than any other group in southeast Michigan.” For example, 64% of clients served by Accounting Aid Society’s tax assistance program are female-led households making an average of just over $12,000 per year. With an average tax refund of $1,500, these women-led families see a boost to their annual income of over 10%. Additionally, the small business branch of the agency, the Accounting Aid Academy, helps under-resourced small businesses put a solid financial foundation in place; in 2020, 90% of the Academy’s 97 members were women, and 98% were minorities.
To learn more about the nonprofit’s tireless work, visit https://accountingaidsociety.org/.