Being a CPA Amid a Culture of Giving
Before Christopher R. Cicalese, CPA, MSTFP, associate partner at Alloy Silverstein, based in Cherry Hill, prepares for tax season, he has another season to get through first — the giving season. At Alloy Silverstein, giving takes on a whole new meaning, and “giving back” is something that Chris takes personally.
Alloy’s “Go Red for Women” initiative which raises funds on behalf of the American
Heart Association started the firm’s culture of giving over a decade ago with the help of Chris’ father, Reynold P. Cicalese, CPA, PFS, CGMA, managing shareholder of Alloy Silverstein, who ingrained a spirit of giving back. From there, the firm allowed staff to wear jeans all tax season for a small donation. According to Chris, “Every year we raise between $3,000 to $4,000. Since 2007, we raised $98,000 and this year, we should cross the $100,000 mark.”
In addition to working with local church and school groups, it then selected one family for charitable assistance, which
soon multiplied into five, and eventually expanded into their “Adopt a Family” program. Partnering with organizations and schools from Camden to Cape May, Alloy Silverstein, along with help from their clients, has “adopted” 1,700 underprivileged children and teens and typically 50 families a year.
“We had one family request originally in 2013. Some were asking for pencils. These were kids looking for such basic necessities to live,” said Chris. While they can’t buy everything, they have come pretty close, according to Chris. “It’s gotten so big we hire a part-time person to assist with logistics.”
Some years the giving process is more personal than others. When Chris’ newborn
son, Greyson, had a hemoglobin problem and needed a blood transfusion in 2019 to save his life, Chris realized how important giving can be. Every year Alloy Silverstein selects a charity to give to and that year staff overwhelmingly selected Children’s Hospital of Philadelphia (CHOP) due to Chris’s connection with the hospital. They have continued to fund other initiatives at CHOP, which is a global leader in children’s healthcare, through its annual Cheers for CHOP event, and even hosted a blood drive.
Beyond tax season, the firm’s AlloyCares initiative allows staff to volunteer on their own with paid time off. “Last year at Holy Cross High School (in Delran Township) some partners and I took the whole firm and helped paint the school. We’re all accountants so it was difficult since we’re all
perfectionists. They ran out of paint since we were painting so much,” he explains.
Educating the Pros
That culture of giving is not lost on Chris during his day job, where he specializes in offering tax strategies to professional athletes and representing their interests against taxing authorities. “While it’s a different kind of help that professional golfers need, it’s still help,” according to Chris. “Athletes not in the majors don’t have the same mindset as a business owner. They just have a mindset for competition, on the field, on the course, etc.,” he said. “Golfers, tennis players, actors and entertainers are not employees, so they have to keep their own records.”
“I’m trying to educate clients as much as I can,” adds Chris. “Everyone is good at golf on tour. The problem is once your life changes that weekend, what are you going to do with that money? Now you have to pay taxes, and you may not have that good a weekend ever again.” Calling his job a collaborative process, “you are helping them get to where they want to be and, sometimes, you end up running into strong personalities,” he explains.
Chris also goes the extra mile when it comes to his family entertainment center and amusement business clients. Chris, an avid gamer himself, is involved with the International Association of Amusement Parks and Attractions (IAAPA) and the New Jersey Attractions Association (NJAA).