David Kelleher, CPA, CGMA

Partner

Dave has extensive experience providing audit, tax, and business advisory solutions to nonprofit organizations, including community development corporations, multi-service human and social services providers, independent schools, and early education and care (EEC) agencies. Dave has extensive nonprofit tax experience, advising clients on questions relating to the Form 990, as well as the new Tax Cuts and Jobs Act (TCJA) rules affecting nonprofits, including: the taxability of qualified transportation fridge benefits, new unrelated business “siloing” rules, disallowed fringe benefits and UBIT. He also provides guidance on multi-state filing requirements, related party and executive compensation disclosures. Dave helps clients identify and address risks related to their Uniform Financial Report (UFR) and other funding source regulations. He specializes in providing federal and state audits in accordance with Uniform Guidance/Single Audit and Government Auditing Standards.

Dave also provides active guidance on tax, audit and compliance issues for sophisticated commercial clients, including low-income housing and professional services firms. He helps companies fully interpret the financial and operational information discovered during the audit process. His advice leads to informed decision-making and positively impacts business performance.

Education

University of Massachusetts at Dartmouth – Bachelor of Science, Accounting, cum laude

Service

Greater Lowell YMCA – Board Chair
University of Massachusetts Dartmouth’s Charlton College of Business – Accounting and Finance Department Advisory Council

Contributed Insights

AAFCPAs Speaks on Navigating School Facilities Expansion

On December 11, 2024, AAFCPAs’ David Kelleher, CPA, CGMA, Partner spoke at the Association of Independent Schools New England’s (AISNE) virtual webinar, How Schools Confidently Navigate Facilities Expansion. This session featured insights for Heads, Assistant Heads, CFOs, COOs, advancement leads, and others involved in the financial planning of major facilities projects. Panelists explored the practicalities […]

Shift in EEC Funding Model Requires Business Process Assessment

Effective October 1, 2024, the Massachusetts Department of Early Education and Care (EEC) shifted its contract reimbursement from a primarily unit-rate model to a mix of unit-rate and cost-reimbursable contracts. Under the new contracts, childcare seats will be reimbursed on a unit-rate basis while administrative and supportive services will be funded through cost reimbursement contracts. […]

How Schools Confidently Navigate Facilities Expansion

While the design and construction of a new academic facility can be an ambitious and exciting undertaking, it may present financial challenges. To ensure project success and to mitigate risk, it is critical to proactively plan for accounting and financial implications before you break ground. Take for example one of AAFCPAs’ independent school clients that […]