NYSSCPA WTC Victims Volunteer Program Expands

The New York State Society of CPAs’ volunteer effort helping victims and companies impacted by the World Trade Center disaster has kicked into high gear, as more affected businesses and individuals are seeking CPA advice and expertise.

The volunteer program, which has expanded from an initial hotline and help center to include events targeting assistance to affected groups, is connecting more victims with CPAs to answer their financial, tax and government filing questions.

“I think more and more people are coming to us now, because before they were more worried about how to get through the day, while now they are trying to figure out what they can do for tomorrow,” said Carol Powell, a Society CPA volunteer who has been active since the beginning of the volunteer effort. “The focus of those affected is changing,” added Powell, whose CPA practice is located in Cold Spring, N.Y.

The NYSSCPA volunteer effort was born out of a desire by member CPAs to help victims of the Sept. 11 tragedy. Members have donated their time to help businesses and families get back on their feet in the aftermath of the WTC attack.

Sheila Brandenberg said she wanted to help, but could not go down to “ground zero” and move rubble. Instead, she is helping through using her expertise with high-net-worth individuals, trusts, estates and private foundations, to assist those who need to get back on their feet, she said.

The NYSSCPA has established a network of member CPAs, like Brandenberg, who bring many years of experience as business advisors and personal financial planners. Many of the victims have contacted the NYSSCPA volunteer effort—headed by Franklin Federmann, a member of the NYSSCPA Board of Directors—either by dropping into the help center at 110 Maiden Lane or by phoning the victim assistance hotline at (800) NYSSCPA (697-7272).

The Society, whose volunteers have helped more than 200 victims so far, is also working with other organizations, including the New York City Partnership and Investment Fund and the New York City Economic Development Corp., in providing referrals and outreach for victims unsure of where to turn for help.

In recent weeks the volunteer assistance effort has expanded its outreach by working with other organizations and groups. On Nov. 7, for example, CPAs participated in a “help fair” event at the Regent Wall Street Hotel on Wall Street.

Joining more than 50 other organizations providing victim assistance, including the Office of Emergency Management, the Federal Emergency Management Agency and the Small Business Administration, NYSSCPA volunteers met and talked with dozens of victims during this half-day event.

The fair, hosted by the New York City Economic Development Corp., helped bring victims who were unaware of or could not reach the Maiden Lane help center to volunteer organizations offering help and assistance.

The NYSSCPA is also planning an event with the Chinese-American Business Development Center, to provide CPA assistance to business owners with retail stores in the Chinatown section of lower Manhattan. The event, slated to take place on Dec. 11, will bring these business owners to the Society’s main office on Fifth Avenue, where volunteer CPAs will help the business people in filling out loan applications and completing tax returns.

“Chinese businesses need assistance as much as others downtown,” said NYSSCPA member Lilian Shih, “but they often don’t ask for help because of the language barriers or because they are unaware of the assistance that is available.”

Many businesses and families have been deeply affected by the events that took place on Sept. 11. Over two months after the tragic events, the city continues to clear rubble and debris from the area commonly referred to as ground zero.

Many businesses around ground zero have been forced to shut down or relocate, and business owners are still in need of assistance as the economy and disaster have combined to cause ongoing major problems.

The Society is also making sure to help its members who suffered because of the tragic events. For CPA victims whose practices were adversely impacted on Sept. 11, the Society is offering six-month, interest-free loans through its Benevolent Fund program.

For more information on the volunteer effort, contact David Cho at (212) 719-8356 or dcho@nysscpa.org or visit the Society website at http://www.nysscpa.org/index4.htm.