Novogradac & Company

Novogradac & Company is a U.S.-based professional services firm specializing in accounting, tax, valuation, and consulting services for housing and historic preservation incentives. The firm is best known for its work with federal and state tax credit programs and its engagement with housing finance and community development stakeholders. Novogradac has regional offices and a national footprint that connects it with policy, finance, and nonprofit networks.

History

Founded in 1989 by Michael J. Novogradac, the firm emerged amid changes to U.S. tax policy and housing finance following legislation such as the Tax Reform Act of 1986 and subsequent Housing and Urban Development initiatives. Early work involved interactions with agencies and institutions including the Internal Revenue Service, the Department of the Treasury, and state housing finance agencies. Over the 1990s and 2000s the firm expanded services in response to programs like the Low-Income Housing Tax Credit, the Historic Rehabilitation Tax Credit, and Community Development Block Grant-related activities, interfacing with stakeholders such as the Federal Reserve, the Government National Mortgage Association, and major national lenders. The firm's growth paralleled broader developments involving the Affordable Housing movement, municipal bond markets, and nonprofit affordable housing providers.

Services and Practice Areas

Novogradac & Company provides services spanning certified public accounting, tax compliance, valuation, due diligence, and consulting for tax credit programs. Core practice areas include Low-Income Housing Tax Credit (LIHTC) advisory, Historic Tax Credit (HTC) compliance, New Markets Tax Credit (NMTC) structuring, and renewable energy investment tax credit work, linking projects to actors like state housing finance agencies, syndicators, and community development corporations. The firm also delivers audit services aligned with standards promulgated by the American Institute of Certified Public Accountants and engages with law firms, investment banks, and insurers on structuring transactions governed by statutes such as the Internal Revenue Code and regulatory guidance from the Securities and Exchange Commission. Ancillary services include feasibility studies, financial modeling for investors including pension funds and community development entities, and training for nonprofit boards and housing authorities.

Organizational Structure and Leadership

The firm is organized into regional offices and practice teams, led by partners and principals with backgrounds in accounting, tax law, and public policy. Leadership has included founding partners and senior executives who maintain ties to investment groups, regulatory bodies, and industry associations like the National Council of State Housing Agencies and the National Housing Conference. Governance typically features partner-managed decision-making and practice-area directors coordinating with external counsel from prominent law firms and consulting groups. The organizational model facilitates collaboration with corporate investors, municipal issuers, and philanthropic foundations engaged in affordable housing and historic preservation.

Notable Engagements and Contributions

Novogradac & Company has participated in high-profile transactions and advisory roles involving syndicated LIHTC deals, rehabilitation projects utilizing the Historic Tax Credit, and community development investments under the New Markets Tax Credit program. The firm has provided audit and tax advisory services for large nonprofit housing providers, pension fund investments in affordable housing portfolios, and public-private partnership projects connected to municipal redevelopment efforts. Its analyses and testimony have informed policy discussions with members of Congress, Congressional Budget Office staff, and policy organizations such as the Urban Institute, influencing debates over tax policy, housing finance reform, and preservation incentives. The firm has also contributed to industry conferences alongside participants from the Department of Housing and Urban Development, the Treasury Department, and leading academic centers focused on urban policy.

Industry Recognition and Awards

Novogradac & Company and its principals have received recognition from industry organizations and trade publications for expertise in tax credit practice and community investment work. Awards and acknowledgments have come from nonprofit networks, housing advocacy groups, and sector conferences that feature speakers from the Federal Home Loan Banks, the National Low Income Housing Coalition, and municipal finance associations. The firm’s research and reports have been cited by think tanks, academic programs in urban planning and public policy, and major financial media covering real estate finance, further solidifying its profile among peers in accounting and tax advisory services.

Category:Accounting firms of the United States Category:Companies established in 1989 Category:Tax accounting firms