Novagradac & Company
- (216) 736-4100
- 25 W Prospect Ave, Cleveland, OH 44115
Areas of Expertise
- Tax and Audit
- Property Compliance
- Government Consulting and Valuation Advisory Group (GoVal Group)
- New Markets Tax Credit
- English: Spoken, Written
Novogradac is a national professional services organization. The Novogradac organization consists of affiliates and divisions providing professional services that include certified public accounting, valuation and consulting. Novogradac is headquartered in San Francisco, Calif. with more than 25 offices nationwide. The organization maintains clients in a broad range of industries with a major emphasis in the real estate sector, providing publicly and privately held national and multinational enterprises with a full spectrum of audit, tax, valuation, trust and litigation support and general consulting services.
Novogradac offers cost-effective audit, tax and consulting services to a variety of industries and clients, including nonprofits, government agencies, development and construction companies, real estate investment companies and securities firms. Examples of general consulting services include preparation of financial forecasts, pro formas, business advisory consulting services, tax consulting and tax compliance assistance, risk management services, cost segregation reports, defeasance transaction services and miscellaneous agreed-upon procedures reports. We take care to understand fully the nature of our clients’ businesses and can provide tax and accounting advice as needed throughout the assignment.
Novogradac works extensively in the affordable housing, community development, historic preservation, opportunity zones and renewable energy fields, providing tax, accounting, audit and valuation services to affordable housing developments. A snapshot of our services includes compiling financial forecasts used to support partnership agreements, preparing partnership returns and Schedules K-1 for investors and performing financial statement audits. We also prepare tax credit applications, perform final cost certification audits and perform carryover allocation (10 percent test) audits as they relate to various state housing agency and IRS requirements. In addition, we provide valuation services such as market studies, feasibility analysis and appraisal services for fair market rate and affordable housing developments.
Novogradac’s energy practice includes work involving renewable energy tax credits, specifically the production tax credit for wind and the investment tax credit for solar, providing consulting, tax, accounting and auditing to renewable energy projects. We serve a variety of participants in the renewable energy industry, including developers, investors and installers, providing them with services such as compiling financial forecasts used to support partnership agreements, preparing partnership returns and Schedules K-1 for investors, and performing financial statement audits. We also perform final cost certification audits in connection with various investor requirements.
Novogradac is a proven leader in the New Markets Tax Credit (NMTC) program, a significant public and private partnership created to encourage investors to make investments in distressed communities and promote economic improvement through the development of successful businesses in these communities. We offer consulting and tax services for NMTC investors, for-profit and nonprofit developers, community development entities (CDEs), accountants, government agencies and others whose goal is to create successful strategies for the building and revitalization of thriving communities. Our tax and accounting professionals can help in deal-structuring, CDE certification applications, NMTC allocation applications, annual audit and tax services, creation of compliance programs, investor negotiations, structuring private letter ruling requests, creation of financial pro formas and investment due diligence.
Novogradac offers new and experienced historic rehabilitation tax credit (HTC) developers a broad range of professional services to assist with the challenges within the HTC arena. Our HTC team is committed throughout the development and application process to developing and implementing innovative solutions to underlying tax, structuring, compliance and business issues encountered in complicated deals. We base our services on comprehensive knowledge of and broad experience with complex tax, accounting, business and transactional issues inherent in financing and developing HTC rehabilitation projects. Our work in the HTC industry includes various services in connection with the investment tax credit under IRC section 47 and state HTC programs including transaction, tax and compliance consulting; accounting services; and investor services and consulting.
The firm has consulted for more than 30 years on thousands of real estate projects and maintains client relationships with the leading affordable housing sponsors in the industry. Our value-added services and solutions are based on innovative thinking and effective implementation and are the foundation on which we have developed the critical resources necessary to provide outstanding professional services. We are dedicated to meeting client needs in a thorough, efficient and creative manner.
Novogradac partners have published numerous affordable housing industry related articles in national newspapers and highly regarded trade journals. They are the authors of the Low-Income Housing Tax Credit Handbook, the nation’s leading authoritative guide to affordable housing development; they also write and publish the Tax-Exempt Bond Handbook: A Tax Credit Practitioners Guide to Using Tax-Exempt Bonds for Low-Income Housing Tax Credit Projects; LIHTC Property Management book; New Markets Tax Credit Handbook; Historic Rehabilitation Handbook; and Renewable Energy Tax Credit Handbook, as well as other comprehensive tax credit finance reference books. The firm also publishes the Novogradac Journal of Tax Credits, a full color, monthly publication offering news, features and commentary on the low-income housing tax credit (LIHTC), LIHTC compliance, valuation and tax-exempt bond housing industries as well as coverage of new markets, renewable energy and HTC and HUD programs. Our professionals also keep our clients and other industry practitioners up to date on the latest news, issues and trends in these industries through weekly podcasts and breaking news alerts. Clients and friends are encouraged to follow us on Twitter and the Novogradac blog.
Novogradac sponsors affordable housing, community development, historic rehabilitation, opportunity zones, renewable energy and real estate-related conferences coast to coast. These conferences attract hundreds of the industry’s leading experts and participants nationwide. We also conduct workshops and webinars on a variety of affordable housing, new markets and renewable energy related topics. Because of their industry expertise, our professionals are invited regularly to speak at seminars and conferences throughout the country. Many are former associates of international accounting and appraisal firms.
Novogradac’s largest constituent company, Novogradac & Company LLP, is ranked by Accounting Today and Inside Public Accounting as one of the top 50 accounting firms in the nation.