In the ever changing, government regulated environment of the U.S. Department of Housing & Urban Development (HUD), it is important to work with professionals who are knowledgeable in this area. The Dermody, Burke & Brown (DB&B) Affordable Housing services team is not only knowledgeable in this complex area, but also very active in organizations that promote the development and management of government assisted multi-family housing programs. We are members of the Affordable Housing Association of CPAs.
Our team possesses in-depth knowledge of the special issues facing the affordable housing industry, including various state/federal processes and requirements for HUD audits.
We work with many affordable housing entities that are involved with the IRC Section 42 Housing Tax Credit program. We perform cost-certifications required by the New York Housing Finance Agency and annual audits that are required by various Low-Income Housing Tax Credits (LIHTC) syndicators and investor-limited partners that provide funding for the development of these affordable housing programs.
DB&B has been providing services to the affordable housing industry for over 60 years. The Firm has a highly experienced team of professionals dedicated to the affordable housing industry. We understand the dynamics and complexities of issues that the affordable housing industry is faced with. Our extensive experience and in-depth knowledge of the industry positions us as our client’s most trusted advisor---all year round. Should an issue arise, our firm is also a member of Allinial Global which allows our team to tap into the wealth of knowledge of other top accounting practices with affordable housing experience.
Lori Ciarla, CPA
Lori joined the Firm in 1992 and specializes in audit, accounting, and advisory services for not-for-profit and governmental organizations, and employee benefit plans. She oversees the Firm’s employee benefit plan audit practice and is responsible for the audits of more than fifty annual benefit plans, including single employer, multiple employer, defined contribution, defined benefit, and health and welfare plans. Lori serves as the Firm’s designated audit quality partner of the AICPA’s Employee Benefit Audit Quality Center. She has extensive experience in HUD auditing and is the leader of the Firm’s affordable housing audit practice. Lori is also actively involved in the Firm’s employee recruitment program.
Lori is a member of the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA). She received the AICPA Not-for-Profit Certificate I and is also a member of the Not-for-Profit section of the AICPA. Lori is a graduate of Le Moyne College and currently serves on the Finance Committee for Francis House. Lori has served on the board of the American Heart Association and is a past Treasurer of both the Carol M. Baldwin Breast Cancer Research Fund of CNY, Inc. and Girls Incorporated.
Travis Smith, CPA, MBA
Travis has been with Dermody, Burke & Brown for over fifteen years providing services to variety of not-for-profit organizations, including foundations, human service providers, and health care organizations. He has extensive experience in consulting and advising his clients on a variety of issues, including Low-Income Housing Tax Credit projects.
Travis holds a Bachelor and Master Degree from the State University of New York at Oswego. He is a member of the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA). He is also a member of the Not-for-Profit section of the AICPA and serves on the board of directors for Helio Health, Inc.
Carolyn Sturick, CPA, CITP, CEO
Carolyn joined Dermody, Burke & Brown in 1989 and serves as the firm's Chief Executive Officer effective 2023. Carolyn previously after served as the Firm’s Chief Operating Officer for over 13 years. As CEO, Carolyn focuses on setting the company’s future course through strategic growth, ensuring continued client success, and maintaining the personal relationships so vital to a successful Firm. Beyond her position as CEO, Carolyn brings over thirty years of experience in the areas of consulting, auditing and accounting to a wide range of not-for-profit clients and those requiring federal single audits. She is a strong resource within the Firm for technical issues and serves on the Quality Assurance Committee.
Carolyn also has served as Treasurer of a local not-for-profit organization, East Syracuse Minoa Education Foundation, and has many years of involvement in the Festival of Races. Carolyn is a graduate of SUNY Oswego. Carolyn is a member of the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA) is also credentialed by the AICPA as a Certified Information Technology Professional.