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Education

AAFCPAs fully understands the nuances of the education industry and its particular business and operational challenges, including funding and regulatory issues.

Comprehensive Accounting and Advisory Services for Educational Institutions

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CPAs with Education Expertise

AAFCPAs’ Education Practice serves diverse academic and education services clients spanning independent schools, colleges/universities, special education schools, education services, charter schools and charter management organizations (CMOs).

Our extensive experience within the education industry makes us uniquely qualified to serve you. We fully understand the nuances of the education industry and its particular business and operational challenges, including funding and regulatory issues.

Advisory for New Initiatives and Expansion
  • Consult on newly structured programs to assess accounting and tax implications.
  • Provide guidance on real estate development and campus expansion projects.
  • Advise on tax-exempt bonds and tax credit financing opportunities.
Operational Efficiency and Ancillary Services
  • Evaluate and optimize ancillary services, including after-school programs, summer camps, and food service.
  • Assist with cost allocation strategies to minimize unrelated business income tax (UBIT) exposure.
Tax Compliance and Reporting
  • Prepare and review Federal Form 990 to ensure accurate public and donor representation.
  • File charitable trust returns and provide ongoing compliance support.
Outsourced Accounting and Financial Oversight
Investment and Fiduciary Advisory
  • Offer institutional investment guidance, executive compensation planning, and succession strategies.
  • Provide fiduciary oversight and investment advisory services for employee benefit plan sponsors.
Technical Accounting Advisory
  • Support implementation of new accounting standards.
  • Assist with complex operational and financial transactions and audit preparation.

Let’s Connect

John Buckley
John Buckley

John Buckley

CPA, CGMA | Partner
Thomas Muldoon
Thomas Muldoon

Thomas Muldoon

CPA, CGMA | Partner

  • “I highly recommend AAFCPAs for anyone looking for an attractive alternative to national CPA firms. It’s so nice to have that partnership and team by our side. Before we switched to AAFCPAs, we worked with a national firm. When it came time to conduct another rotation, though AAFCPAs came highly recommended by so many, we treated them as we would any other auditing firm. At the end of the search, we went with AAFCPAs. The national firm we left was adequate. But there is just a certain white glove touch with AAFCPAs that is preferable.”

    Shelly Jackson, Director of Finance American Academy of Arts and Sciences

  • “In a world filled with economic uncertainty, there is no better partner to have than AAFCPAs. AAFCPAs’ personal and professional attention to our long- term fiscal health and sustainability has allowed us to thrive at a time when others are struggling. AAFCPAs is truly in a class of its own.”

    Peter J. McDonald, Ed.D., Headmaster Eagle Hill School

How AAFCPAs Helps You Strengthen Financial Oversight, Fund Growth, and Ensure Compliance

Capital Campaign Debt Structure 

If you’re preparing for a capital campaign, AAFCPAs can help you develop a financial plan that supports long-term success. We work with schools to model operating forecasts, assess the accounting impact of bond-financed projects, and evaluate financing structures such as interest rate swaps and letters of credit—so you can approach fundraising and debt with confidence.

Fundraising Support & Compliance

Your capital campaign is a major investment. AAFCPAs supports your efforts by helping you align fundraising policies with compliance requirements and donor expectations. We review appeal language, evaluate campaign performance, and ensure funds are tracked and reported properly—strengthening the trust of your donor community.

Alternative Investments

If your school maintains a diversified portfolio, we help you establish and enhance internal controls over alternative investments. Our team advises on due diligence, valuation methods, foreign reporting requirements, and unrelated business income (UBI) considerations—ensuring that your investment oversight supports accurate, transparent reporting.

Leverage Tax Credits

AAFCPAs helps you take full advantage of tax credit opportunities that can fund major initiatives. We guide you through programs including New Markets, Low-Income Housing, and Historic Rehabilitation Tax Credits—as well as renewable energy incentives. From cost certifications to exiting compliance periods, we support your school every step of the way.

Complex Endowments

We assist you in developing and evaluating investment and spending policies, designing reporting and unitization structures, and evaluating and improving internal controls over investment activities in line with the Uniform Prudent Management of Institutional Funds Act (UPMIFA).

Benchmarking

AAFCPAs demonstrates to clients how they compare to industry averages and other select nonprofits. We analyze and present ratios and benchmarking, comparing revenues per student, return on fundraising expenses, occupancy costs, net assets, working capital, and other measures.

Enhance Accreditation

We have helped clients improve their accreditation scores through strategic initiatives designed to improve a school’s balance sheet, financial statements and credit picture.

Financial Regulations

Intimately familiar with all policies, procedures, and regulations related to independent school reporting, accounting, auditing, and tax filing.

Contact Us

We look forward to speaking with you to determine how we may best solve your needs. A firm representative will reach out to you within one business day. Looking for additional ways to reach us? Visit our Contact Page. >>