Toni M. Diprizio

CPA

Audit Partner, Not-for-Profit Practice 

As an Audit Partner in Blackman Kallick’s Not-for-Profit Practice, Toni is the go-to auditor and advisor for many of the firm’s arts and cultural clients. She also serves foundations, trade and professional associations, and social services agencies.

Toni enjoys the opportunity to help her clients improve their operations and achieve their goals through:

• Managing and supervising financial-statement audits
• Assessing the reasonableness and accuracy of financial-statement disclosures regarding fair-value measurement and alternative investments
• Ensuring compliance with the Uniform Prudent Management of Institutional Funds Act (UPMIFA), which regulates investment decisions and endowment expenditures of charitable organizations
• Educating not-for-profit accounting staff about appropriate revenue recognition for various transactions, such as contributions and exchange transactions
• Helping to drive inefficiencies out of operational processes without compromising key controls
• Informing boards of directors of best practices in governance and fraud risk assessment
• Speaking on topics such as fair-value measurement and accounting for endowments during Blackman’s not-for-profit roundtables 

Her positive energy and passion for not-for-profit accounting set her apart from many auditors. Toni is committed to helping her clients and team members reach their potential by sharing ideas that can improve their overall operations. She is aware of the resource limitations facing many not-for-profits and looks for opportunities to do more with less. For example, she advises on risk-based controls that protect her clients’ assets while improving efficiency.

Boards of directors frequently turn to Toni for guidance regarding best practices in not-for-profit governance. She provides insight on issues such as the ideal composition of the audit-and-finance committee, as well as communication of ethics and conflict-of-interest policies. She also looks out for her clients’ governance needs by providing strategies to manage risks, such as through fraud risk assessments, referring them to qualified professionals who can tailor a plan to the client’s risk and budget tolerance.

Credentials and Professional Involvement

Toni earned a BS in accounting from the University of Illinois at Chicago. For more than 10 years, she has contributed her not-for-profit accounting expertise to the Emerald City Theatre Company, currently serving as a Board Member and Finance Committee Member, and the Eleanor Foundation, currently as a member of the Finance Committee. She is also a Steering Committee member for Blackman’s Women’s Initiative: Strategies for Excellence (WISE).

Articles by Toni Diprizio

• FASB Adds Two Not-for-Profit Agenda Projects
• Illinois Department of Human Services Financial Reporting Requirements Have Changed for FY2011
• A Survey Reveals Continued Increase in Demand for Nonprofit Services
• Recognize and Celebrate Cumulative Giving
• FAS 157: New Reporting Requirements for Employee Benefit Plan Investments
• Measuring Fair Value: New Accounting Rule to Affect Unusual Investments and More
• Are You Prepared for the New 403(b) Regulations?
• Taking the Right Steps to Find Your Dream Bookkeeper

News about Toni Diprizio

• Blackman Builds Not-for-Profit Practice with New Partner