"My goal is to help my clients fulfill their mission and be their trusted advisor. It is a privilege to be the person my clients reach out to when big or small issues arise."
Never give up a good thing. That may have been what led Joe Barreca to continue developing expertise in not-for-profit consulting and taxation since his earliest days as a professional more than 20 years ago. His career has been dedicated to serving as a trusted advisor to public charities, private foundations, business leagues, social welfare organizations, and social and recreational clubs, and it all started with his first job at a public accounting firm in New York.
Since then, Joe’s experience has expanded to partnering with the executives, boards of directors and other leadership team members of clients who rely on him for in-depth knowledge of everything from achieving compliance with complex tax regulations to collaborating on financial strategies for long-term organizational stability to helping them understand how to report on unrelated business income.
Joe is also versatile in achieving compliance with federal and state taxation requirements. He plans and prepares federal Forms 990, 990-PF, 990-T and guides clients on the reporting of unrelated business income. When it comes to assisting newer entities, he navigates the process of applying for tax exemption with the IRS. He also represents established clients to the IRS when they run into challenges retaining their tax-exempt status. This can occasionally be ensuring they continue to meet the public support test, at which point he steps in with guidance for improving public support, diversifying funding sources, or managing support from private donors and foundations.
His career-long focus on helping not-for-profits comes from his awareness that these entities are committed to supporting local and national communities. By understanding the good work they do and, by helping them navigate complex tax issues, meet transparency requirements for stakeholders and respond effectively to a changing regulatory environment, he feels like a partner in helping to fulfill their missions.
Joe has worked for local, regional, and national public accounting firms throughout the New York metropolitan region where he is a native. He resides in Staten Island where he enjoys spending time with his family and getting involved in the activities of his children. He was inspired to go into the accounting profession and become a certified public accountant by an admired family member.