By Tim Petrey
Managing Partner, HD Davis CPAs
YOUNGSTOWN, Ohio – “Growth” is the best word to describe 2021 at HD Davis CPAs. Across the board, we were fortunate to have a year of exciting changes.
In 2021, the firm increased revenues by 25%, which we attribute to organic growth and the formal rollout of our fractional CFO division. We are currently providing chief financial officer services to more than 20 companies across the country.
Business support services such as accounting, payroll and HR is the future of our company. Tax preparation, planning and traditional accounting services will always be a big part of who we are. But our business support services are where we really shine. We love being involved and making a positive impact on our client businesses and lives.
In 2021, HD Davis CPAs received two national recognitions, both by Accounting Today.
The nationally recognized professional journal sends daily news updates and information to more than 325,000 professionals. It conducts an annual competition among accounting firms nationwide during which company policies, procedures and diversity are reviewed.
We were honored to be named as one of the “2021 Best Firms to Work For” and ranked No. 10 in the nation. And Accounting Today named HD Davis No. 3 nationwide in the category “Best Accounting Firm for Women.”
We attribute the recognition to the pride we have in taking care of our clients and staff.
Also in 2021, we consolidated our operations on Mahoning Avenue into our main office building on Churchill Hubbard Road in Liberty Township. We acquired the Churchill Park Plaza and began renovations with hopes to be fully moved in after this tax season. The plaza will be our new main office and we will maintain office locations in Geauga County and Massillon.
Throughout 2021, we continued to learn how to adapt to a virtual working environment by investing in software and programs, going mostly paperless, and reimagining the way processes and communication are handled.
At this time, we have several remote employees working out of state. We have learned the value of flexibility in a work schedule and allowed for our employees to work anytime and anywhere.
Moreover, we greatly value community service.
Our team collectively votes on an organization for the HD Change Campaign. This campaign was established to support and give back to the community where most of the team at HD Davis and White Glove Payroll, our sister company, grew up and remain.
The 2021 recipient was the Melina Michelle Edenfield Foundation, which is dedicated to raising money for research and development on a cure for pediatric cancer.
This year, the HD Change Campaign raised $15,000 through our first YOlympics series of events, employee and company contributions, and an online raffle. We thank everyone who donated and shared his time, talents and efforts to make this possible.
As our industry still demands holistic business services, our 2022 goals are to expand our remote CFO service and consulting services and continue to develop our group of young staff.
In addition, this summer we plan to roll out an entirely new product: business valuation and brokerage services. We also plan to implement new services at White Glove Payroll via new technology packages for employee benefits tracking, HR consulting as well as temporary staffing and job placement services.
Finally, employment at HD Davis CPAs increased substantially in 2021 as our team doubled in size.
New hires included Ken McBride, director of CFO services; Will Rauber, chief financial officer; Brittany Mendez, director of knowledge transfer; Lucy Mendez, financial research specialist; Megan Jones, marketing and events coordinator; Amy McMurray, staff accountant; Karla Lane, tax supervisor; Czara Klingensmith and Ashley Ruch, administrative assistants; and Chrissy Jakubek, CFO service staff. In addition, we hired three interns: Amber DelPiero, Eddie Sanchez and Landon Glinn.