Industry Experience

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Industry: Education

  • Roof Repair - A Cost Segregation Case Study
    A local business purchased a building for an upcoming warehouse operation, and – 15 years later – the business discovered the roof of its building had started to leak. The leak, according to a quote from a roofing company, would cost the company $200,000 to repair. It’s a flat roof and only one section seems to be in need of repair. Otherwise the roof structure is in good shape, according to the roofing company, so the business decides to replace the entire roof’s rubber membrane with a new, waterproof membrane. How should the business treat the expenditure for tax and financial statement purposes?
  • SharePoint Implementation Achieves Greater Capabilities and Accessibility
    A Connecticut college with a rich history was looking to create a website which offered extensive outreach capabilities for key audiences of the college, including alumni, parents and potential new students. To achieve this goal, the current website required a major redesign and installation of interactive capabilities, but a stumbling block arose between the college's IT and communications departments.
  • BlumShapiro Helps College Meet Deadlines, Avoid Penalties & Fees
    A highly respected mid-sized institution of higher education with approximately 200 employees was required by new federal regulations to conduct an extensive audit of its retirement program, which dictates that the college enroll all full-time employees who reach one year of service. The college had attempted to comply with the plan provisions by distributing enrollment forms to all eligible employees and completing the enrollment process as the forms were returned. But early into the audit it was revealed that about 20 percent of the eligible employees had not returned enrollment forms, and thus were not participating in the plan.

Advisors | Auditors | Consultants | CPAs – BlumShapiro is one of the premier Education accounting firms in New England and a Top 100 CPA Firm in the U.S. Our professionals serve private schools, independent schools, colleges, universities and higher education institutions in Boston (MA), Hartford (CT), Cranston (RI), Shelton (CT) and Quincy (MA) with audit, tax and business consulting services. We are members of the National Association of College and University Business Officers, Connecticut Association of Independent Schools, New York State Association of Independent Schools and Association of Independent Schools New England