NJCPA News

Ovation Awards Open for Nominations

Is there someone at your firm or accounting department who deserves recognition for going above and beyond to mentor others? Is there a professor at a New Jersey-based college you consider an unsung hero? What about an emerging leader who continuously makes inroads in moving the profession forward? Nominate him or her for an NJCPA 2021 Ovation Award. The Ovation Awards recognize the following seven categories of excellence:

* Emerging Leaders

* Diversity, Equity & Inclusion

* Innovation

* Exceptional Educators

* Women to Watch

* Impact

* Lifetime Leader

“The Ovation Awards are a great way to acknowledge and celebrate those individuals who you work with everyday who may deserve recognition among their peers. In the midst of everything that workers endured this past year, the Ovation Awards bring an awareness of outstanding achievements,” said Theresa Hinton, chief operating officer at the NJCPA.

Self-nominations and nominations from NJCPA members and nonmembers are all welcomed. Visit njcpa.org/awards to learn more about the qualifications for each award category and to submit nominations. The nomination deadline is May 3.

In Memoriam

The NJCPA is saddened to announce the passing of a long-time staff member and two of the Society’s past presidents. They will all be remembered for their enduring commitment to New Jersey’s accounting profession.

Daniel S. Goldberg, 1979/80 NJCPA president

Daniel (Danny), who passed away on Jan. 11, 2021, was the former chair of several NJCPA committees including the NJ-CPA-PAC, the Nominating Committee, the Professional Conduct committee and the Government Relations Committee. He was also a former director of the Essex Chapter. Danny is survived by his wife, Matty, and his children, Susan, Mitchell and Richard, along with three grandchildren and one great grandchild.

John S. Lee, 1985/86 NJCPA president

John, who passed away on Dec. 23, 2020, was a trustee of the NJCPA Scholarship Fund from 1986 to 1996 and is credited with initiating campaigns that significantly increased the Fund. He also was a former president of the Mercer Chapter. John is survived by his children, Randall, Wendy and Daniel, along with five grandchildren and one great grandchild.

Maryann Barone, NJCPA accounting manager

Maryann, who passed away on Feb. 8, 2021, joined the accounting department in 1989. Over her nearly 32-year career with the NJCPA, she implemented and oversaw the important accounting and internal control processes that are the backbone of nearly everything the Society does. Her dedication to her job never wavered even during her valiant, multi-year battle with cancer. Maryann is survived by her father Clodomiro “Claude” and brother Tony. “I’ve never met a more dedicated or harder-working individual in my life. More than that, however, I’ve never met a better person. Maryann cared more about everyone around her than herself, even while facing the most daunting challenge of her life. Her loss is tremendous, and she will be missed greatly,” said Gordon Smith, CPA, chief financial officer of the NJCPA.

“Our members, staff and colleagues remember Danny and John fondly; the work they started at the NJCPA will continue for years to come,” said Ralph Albert Thomas, CPA (DC), CGMA, CEO and executive director of the NJCPA. “And our hearts are broken by the loss of our dear friend and colleague, Maryann. It was truly a privilege to work with her; her kindness, humor, warmth and faith will be missed by everyone she touched.”

Student Loan Debt Lottery Winners Announced

The NJCPA congratulates 10 members who were randomly selected in December to receive $1,200 each towards their student loan debt. The inaugural NJCPA Student Loan Debt Lottery was conceived by the Student Loan Debt Task Force, which initiated the Lottery together with the NJCPA Scholarship Fund to assist NJCPA members who have amassed a significant amount of debt on their way to becoming a CPA.

The winners included:

* Kevin S. Feeney, CPA, MST, owner at Feeney CPA LLC

* William S. Howell, CPA, owner at a William S. Howell, CPA

* Jheanelle T. Jackson, CPA, fund operations at Prudential Financial

* Allen Raevsky, CPA, manager at Allen Raevsky & Company LLC

* Belinda Scott, CPA, senior tax associate at SKC & Co., CPAs, LLC

* Philip Sookram, CPA, MAcc, assistant professor of accounting, at Saint Peter’s University

* John ( Jack) A. Taylor Jr., CPA, owner, THT Tax and Accounting

* Juli-Ann Truppi, CPA, accounting manager at Charterhouse USA Inc

* Jacqueline Justine Vavoules, CPA, senior auditor at Ernst & Young LLP

* John Verdonck III, CPA, audit senior associate at KPMG LLP

The 10 winners, who were chosen out of 172 applicants, have a combined student loan debt of more than $425,000 ranging from $5,130 to $125,000 or an average of more than $42,000 each. That amount is higher than the average student loan debt for all New Jersey borrowers of $35,000, according to a 2020 Smartest Dollar report (smartestdollar.com). In its ranking of states with the greatest student loan debt per borrower, New Jersey came in 12th. Maryland ranked the highest at $41,000.

“Student loan debt can be crippling for young professionals looking to get themselves settled into life after graduation. In our profession, this is compounded by the stress of studying for and passing the CPA Exam. A concerted effort by schools and organizations is needed to assist students pursuing a career in accounting,” said Melissa Dardani, CPA, a member of the NJCPA Student Loan Debt Task Force.

Zachary Cohen, CPA, a member of the Student Loan Debt Task Force, added, “Student loan debt has skyrocketed to the point that it is hindering not only career choices but life choices. It is a real problem that needs real solutions. This inaugural program is a step in the right direction in addressing this issue, and hopefully this will pave the way for other organizations to implement similar programs.”

According to a December 2020 NJ Spotlight article, New Jersey’s $47.8 billion in student loan debt is shared among 1.4 million borrowers. In a survey of NJCPA members in 2019, more than 75 percent of the 623 respondents considered it a “major problem” that student loan debt tallied $1.6 trillion in the U.S. overall.

The NJCPA continues to advocate for better student loan debt management. It supports a bill that would mandate that high school graduation requirements include instruction on tuition assistance programs and student loan debt. It would also require high school students to meet with a guidance counselor to discuss tuition assistance and dual enrollment. Learn more at njcpa.org/studentloandebt.

Virtual High School Presentations Are a Hit

The NJCPA provided more than 60 virtual presentations to local area high schools last fall as part of its Career Awareness Program. Due to the pandemic, the presentations were virtual instead of in person, but they were just as effective.

Member volunteers from CPA firms, nonprofits and corporations espoused the benefits of becoming a CPA, discussed career opportunities for those with a CPA license and explained how the profession has changed over the years. Students were able to ask questions or send email inquiries to the speakers, many of whom had affiliations with the schools or neighborhoods. More than 3,000 students have attended the presentations in the past.

“It was such a pleasure making the virtual presentation to the students. It was certainly a rewarding experience,” said Danielle Traina, CPA, senior staff accountant at WilkinGuttenplan, who spoke at Somerville High School.

Jose Borbon, CPA, CRC, an assistant vice president and senior auditor at Kearny Bank and regular presenter in the program, added that “whether its recorded, virtual or in person, it’s an important message that needs to be told to students. Many are not aware of what it means to be an accountant and how rewarding a career in this field can be.”

According to Ralph Albert Thomas, CPA (DC), CGMA, CEO and executive director at the NJCPA, “the Career Awareness program is all about the students. They need to know where an accounting career can take them and what steps are necessary to get there.”

The presentations also included information about the NJCPA Scholarship Fund, which has distributed more than $7 million since inception in the 1960s. The Fund awards $1,500 scholarships to college-bound New Jersey high school seniors who intend to major in accounting or obtain a concentration in accounting. It also awards $6,500 one-year scholarships to accounting students at New Jersey colleges and universities. In 2020, the Fund awarded more than $380,000 in scholarships to high school and college students. Learn more at njcpa.org/scholarships.