Toni M. Diprizio

CPA

Audit Partner, Not-for-Profit Practice 

An Audit Partner in Blackman Kallick’s Not-for-Profit Practice, Toni Diprizio has developed a practice that includes social service organizations, arts and cultural institutions, associations, foundations, and private schools. 

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 

Toni has a passion for her clients’ success and is committed to the important work they perform.  She helps them reach their potential by sharing ideas that can improve their overall operations while making the most of limited resources, allowing them to focus more resources on mission-related activities

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.

Articles by Toni Diprizio

• Is It Time to Enhance Your Annual Report?
• 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