SAX 2017-2018 Year in Review

SAX 2017-2018

YEAR IN REVIEW

MESSAGE FROM OUR MANAGING PARTNER AS MANAGING PARTNER OF SAX LLP, I AM HAPPY TO ACKNOWLEDGE OUR SUCCESSFUL YEAR THAT ILLUMINATED OUR HARD WORK AND UPWARDS GROWTH. I AM PROUD OF THE DEDICATED PARTNERS AND STAFF BEHIND ME WHO DEMONSTRATE AN UNWAVERING PASSION AND COMMITMENT TO OUR CLIENTS AND TO OUR FIRM. WITHOUT THEM, OUR CONTINUED SUCCESS COULD NOT BE POSSIBLE.

During 2017, we successfully acquired The Hunter Group of Fair Lawn, NJ and our wealth management firm, Sax Wealth Advisors completed two acquisitions that brought them rapid growth. We now operate out of three offices in New Jersey and one office in New York City.

We hit our aggressive organic growth goals and are on track to becoming a Top 100 firm in the nation by 2020. There is truly much to celebrate.

Honoring our past, in 2017 we retired seven Partners of the firm who were pillars of our organization, and exemplified true strength and expertise that we continue to strive to emulate. These leaders will be sorely missed, and we thank them all for their contributions to the success of Sax over the years.

Looking towards the future, we remain resolute on being our clients’ trusted business advisors and partners in success. We continue to add overall value through new services and solutions to proactively address our clients’ needs. In 2018, we will launch Sax Technology Advisors which will offer Cybersecurity and managed IT services as we recognize the significant need to fill this space. We are excited for this new venture and all that it will bring.

I also wish to take this time to express my gratitude to our clients and friends of the firm.

You are the backbone to our success, and I thank you for your continued confidence in us.

On behalf of Sax, I wish you all a healthy, safe and prosperous 2018.

Joseph A. Damiano Managing Partner, Sax LLP

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SAX’S DNA THE BEDROCK OF OUR FIRM IS THE INHERENT

SAX’S CORE VALUES

MINDSET THAT WE ARE OUR CLIENTS’ MOST

Respect › We treat each other with respect and

TRUSTED ADVISORS. STRENGTHENED BY OUR

dignity; encouraging cooperation and teamwork Integrity › We are honest and ethical in

DYNAMIC TEAM MEMBERS AND STRONG PROFES-

everything we do

SIONAL RELATIONSHIPS IN THE INDUSTRIES WE

Commitment › We will meet our core

SERVE, WE DRIVE CLIENTS TO THEIR DESIRED GOALS BY ADVISING THEM ON THE KEY AREAS

commitments 100% of the time Excellence › We are passionate about the pursuit of excellence in everything we do

CRITICAL TO THEIR SUCCESS.

WE ARE PROACTIVE INSTEAD OF REACTIVE.

LOOKING AHEAD

WE ARE INNOVATIVE AND NEVER STAGNANT. WE LEAD INSTEAD OF WAITING FOR OTHERS TO PAVE THE WAY. THIS IS WHO WE ARE AND THIS IS WHAT MAKES UP SAX’S DNA. SAX’S VISION

Our Vision is to achieve exceptional growth oppor-

04

Retired Partners

06

Key Management

08

Awards and Accomplishments

09

Rising Leadership

10

2017 Alliances

11

Acquisitions by the Numbers

12

Thought Leadership

SAX’S MISSION

14

Sax Wealth Advisors

Sax is committed to being our clients’ most valued

16

The Founder’s Award

advisor by understanding their Vision and provid-

18

P.O.W.E.R.

tunities for our clients, our people and our firm.

ing solutions that exceed expectations to assure

20

Internal Enhancements

their success. We are dedicated to continually

21

2017 by the Numbers

building a great firm that attracts, develops,

22

Culture of Giving Back

excites and retains exceptional people.

24

Family First

SAX YEAR IN REVIEW 2017-2018 › p_3

RETIRED PARTNERS

Howard Ehrlich, cpa Howie joined Sax as Partner in 1992 and handled firm engagements for a wide variety of businesses and high-net-worth

IN 2017, WE SAID GOODBYE TO SEVEN PARTNERS OF THE FIRM WHO WERE VITAL TO SHAPING SAX INTO THE STRONG, STABLE AND SUCCESSFUL FIRM WE ARE TODAY. THESE TEAM MEMBERS EXEMPLIFIED EXCELLENCE IN EVERY SENSE OF THE WORD, AND HAVE SET

individuals. Howie was an active business advisor to clients and was instrumental in assisting them achieve top line growth, improve efficiencies, realize bottom line success, and preserve their accumulated wealth.

In retirement, Howie and his wife Doris have become snowbirds. Howie plans to work on his

THE BAR FOR WHAT TRUE BUSINESS ADVISORS

golf game, continue with volunteer work for causes

LOOK LIKE. WE WILL MISS OUR FRIENDS, AND

particularly important to him, and share more time

WOULD LIKE TO THANK THEM FOR THEIR CONTRIBUTIONS AND DEDICATION TO THE ADVANCEMENT OF OUR FIRM. WE WISH THEM THE BEST IN THEIR FUTURE ENDEAVORS.

Thomas J. Cairoli, cpa Thomas joined Sax in the 2017 acquisition of The Hunter Group, LLC where he had over 40 years of diversified experience in public accounting, servicing various industries and clientele in the areas of auditing, taxation, and management consulting services. Thomas specialized in U.S. operations and international manufacturers and was a vital asset to the growth of the firm. He continues to assist Sax as a Senior Advisor.

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with his four grandchildren.

Jo-Ann Gallerstein Jo-Ann was a Principal with Sax Wealth Advisors – Sax’s wealth management arm – and applied her expertise to helping individuals and families build successful financial futures.

Prior to joining Sax, Jo-Ann was the Founder and Managing Member of JG Advisors, LLC. During retirement, Jo-Ann plans to get involved with women’s political causes and is looking forward to spending time with her grandchildren, photography and gardening. In the warm weather she can be found in the Berkshires!

Hillard Kaufer,

cpa

Robert Paz, cpa

Hilly was a Partner at Sax

Bob was a Partner at Sax since

since 1994 and Director of Tax

1989 and served as Managing

Controversy. With over 30 years

Partner of the firm from

of experience, he established

2010-2015. He was Partner-in-

credibility with many of the key

Charge of the firm’s New York

decision-making powers at all

City office, Head of the firm’s

jurisdiction levels of federal, state and local taxing

Construction Practice which he initiated and grew

authorities. His clients recognized him as an expert

from the ground up, and was a member of the

in his field, and Hilly published various articles,

firm’s Executive Committee and Compensation

participated on expert panels, and received several

Committee. To his clients, Bob was adept at

recognition awards from the Internal Revenue

developing practical yet effective solutions to

Service and NJCPA that speaks volumes to his

meet their needs and goals, and emulated

knowledge in the industry.

strength and expertise within the firm.

Leonard Manis, cpa

Michael Shenker, mba, cpa, pfs

Len joined Sax in the 2017

Mike was a Partner with Sax

acquisition of The Hunter

Wealth Advisors – Sax’s wealth

Group LLC where he began his

management arm – and was the

professional career and has over

prior Partner-in-Charge of the

40 years of experience in public

team. Mike brought more than

accounting. Len specialized in

35 years of experience to his

accounting and auditing services for closely-held

client relationships and specialized in investment

businesses and was responsible for a diversified list

management, portfolio design, estate and income

of clientele, and effectively supported and advised

tax strategies and retirement planning services.

clients to reach their desired business goals. He

During retirement, Mike can most likely be found

continues to assist Sax as a Senior Advisor.

on the lake kayaking or sailing the wooden sailboat he built by hand.

SAX YEAR IN REVIEW 2017-2018 › p_5

KEY MANAGEMENT

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Head of Human Resources

MANAGING PARTNER

› Joseph A. Damiano,

cpa

EXECUTIVE COMMITTEE

› Stuart Berger,

› Robert Hopper,

cpa

cpa

› Debra Karacsony

› Joseph Shannon,

INDUSTRY PRACTICE + SERVICE LEADERS

cpa , mba cpa / abv , cva , cfe

OFFICE PARTNERS-IN-CHARGE

Construction › Ermal Luzaj,

cpa , mba

Healthcare › Susan E. Reed,

Clifton, NJ › Joseph A. Damiano,

cpa

› Kevin J. Hansen,

cpa

› Frank Pawlowski,

cpa

cfp ®, cpa / pfs

New York City cpa , ccifp

FIRM ADMINISTRATION

Chief Financial Officer › Michael Rolls Chief Technology Officer › Matthew Hahn Head of Business Development › John Z. Murphy

cpa

Not-For-Profit › Todd W. Polyniak,

cpa

Real Estate

Pennington, NJ

› W. Michael Curry,

cpa , cfp ®

Manufacturing & Distribution › Robert Hopper,

Fair Lawn, NJ

› Guy McPhail,

Head of Quality Control

cpa

› Joseph A. Damiano,

› Ermal Luzaj,

› Sharon Bleibtreu

› Joseph Shannon,

cpa / abv , cva , cfe

Accounting + Auditing › Todd W. Polyniak,

cpa

Employee Benefit Plan Audits › Jennifer L. Moroz,

cpa

Family Office › Donna Fricchione,

cpa

Tax › Shivani Jain,

cpa , mst

Wealth Management › Kyle R. Stawicki,

chfc ®

Valuation, Forensic & Litigation › Joseph Shannon,

cpa / abv , cva , cfe

SAX YEAR IN REVIEW 2017-2018 › p_7

FIRM RECOGNITION & AWARDS

Sax Wealth Advisors was ranked number 51 in AUM (assets under management) on Accounting Today’s list of the Top 150 “Wealth Magnets.” * Stuart Berger was selected as New Jersey Builder’s Association’s Associate of the 2nd Quarter.

SAX IS CONSISTENTLY RECOGNIZED AS A LEADING PROVIDER OF ACCOUNTING, TAX AND ADVISORY SERVICES IN THE TRI-STATE AREA AND THIS IS DUE LARGELY IN-PART TO OUR TEAM MEMBERS WHO EXCEL IN THEIR FIELD. THIS YEAR WAS NO EXCEPTION WITH OUR FIRM AND TEAM MEMBERS RECEIVING THE FOLLOWING ACCOLADES:

Sax

llp

was honored with two Awards

of Excellence from Metropolitan Builders & Contractors Association of New Jersey for Best Company Website and Best Company Logo.

Sax

llp

was selected by the RSM US Alliance

as a recipient of their 2017 Stewardship Award which recognized and honored RSM members who dedicate efforts and resources to making a difference in their communities.

Sax

llp

was ranked 114 out of accounting firms

nationwide by INSIDE Public Accounting.

Sax

llp

was named to the list of Top 30

Accounting Firms in the New York area by Crain’s New York Business.

Marie DeCaprio, Partner with Sax Wealth Advisors, was one of only six alliance members appointed to the BAM Advisory Council (BAC) for the BAM Alliance – a community of more than 140 independent wealth management firms across the country.

Rosemary Ervin was an honoree at the Bergen County Volunteer Center’s Heart of Gold event after she retired from the Board of Directors after 10 years of service.

Matthew Hahn was voted onto the Global Advisory Board of Datto – the leading provider of business continuity solutions.

Matt was also named their prestigious Partner of the Year out of 9,000 other partners.

Shivani Jain was selected among Fairleigh Dickinson University’s top business alumni for induction into the Silberman College of Business’s “50 Under 50”. This distinction recognizes Shivani as a standout among FDU’s distinguished alumni.

Maria Plucinsky was honored as a “Trailblazing Woman in Labor and Business” by the Fair Lawn Mayor and Council for her many business and civic achievements and her not-for-profit financial expertise.

*The Wealth Magnets Ranking of the Top 150 Firms by AUM is published by Accounting Today, an independent company unaffiliated with Sax Wealth Advisors, LLC. The ranking is exclusively by assets under management and is based on submissions by over 200 firms. The dates used by firms submitting data varies. Data provided by Audit Analytics, an online intelligence service that delivers audit, regulator and disclosure analysis to the accounting community. Information from these sources is deemed to be reliable, but accuracy cannot be guaranteed. Sax Wealth Advisors did not pay to be included in this ranking. Working with a ranked advisor should be evaluated properly and has no correlation to investment results. Working with a highly-ranked advisor does not ensure that a client or prospective client will experience a higher level of performance or results. Third-party rankings are no guarantee of future investment success or performance. This ranking is conducted by a third-party provider and not meant to serve as an endorsement for Sax Wealth Advisors. Rankings should not be considered an endorsement of the wealth manager by any client nor are they representative of any one client’s evaluation. Provided for informational purposes only. Please see https://www.accountingtoday.com/top-accounting-firms-by-AUM for further information.

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FIRM ADDITIONS & PROMOTIONS SAX INVESTS HEAVILY IN ATTRACTING AND RETAINING EXCEPTIONAL TALENT TO DRIVE OUR VISION TO “ACHIEVE EXCEPTIONAL GROWTH OPPORTUNITIES FOR OUR CLIENTS, OUR PEOPLE AND OUR FIRM.” THE FIRM’S MANAGEMENT TEAM IS MADE UP OF LEADERS THAT DEMONSTRATE SUPERIOR CLIENT SERVICE, PROFICIENCY IN THEIR WORK AND DEDICATION AND PASSION TO

M&D Practice and specializes in corporate, partnership and individual tax consulting and compliance.

Donna Fricchione was promoted to Director.

She is Head of the firm’s Family Office team and is a member of our Real Estate Practice.

Matthew Hahn joined Sax as the new Chief Technology Officer from SWK Technologies, Inc. where he served as Vice President of Technology. He will lead the firm’s newest practice, Sax Technology Advisors, which launches in 2018.

Ermal Luzaj was named Partner-in-Charge of the firm’s rapidly growing Construction Practice, and charged with the group’s overall management and expansion.

PRODUCTIVITY AND RESULTS. WE ARE PLEASED TO HIGHLIGHT 2017’S INTERNAL PROMOTIONS AND OUTSIDE TALENT WHO JOINED THE FIRM’S MANAGEMENT TEAM:

Michael Benguigui joined Sax after a decade with “Big Four” and national accounting firms.

He is a Senior Tax Manager and member of Sax’s Real Estate Practice.

Frank Centrella joined Sax as Tax Director and member of our M&D Practice. Moving forward, he will be responsible for the Federal and State Tax Controversy Department.

Nancy Novak joined Sax as a Senior Tax Manager and lends her knowledge and expertise to aid in the productivity of Sax’s Trust and Estate group.

Gina Perrone was promoted to Senior Tax Manager. She focuses primarily on the Construction industry, but also works with Healthcare clients and Income Tax Provisions.

Joseph Shannon was named Partner-inCharge of the firm’s Real Estate Practice, and charged with the group’s overall management and growth.

Stephen Ehrenberg joined Sax as a Senior Tax Manager and was quickly promoted to Tax Director. He is a member of the firm’s

SAX YEAR IN REVIEW 2017-2018 › p_9

2017 ALLIANCES

“Sax Wealth Advisors was the natural next step for our firm. We espouse the same principles on empirically supported investment education, and intend to utilize our combined knowledge and expertise to best serve our clients.”

SAX LLP ACQUIRED THE HUNTER GROUP LLC Gregory Duffy, BASED IN FAIR LAWN, NJ EFFECTIVE

Founder of Sterling Portfolio Management.

NOVEMBER 1, 2017.

SAX WEALTH ADVISORS ACQUIRED THE GM

Both firms celebrated their 60th anniversary in 2016 and have been driven by similar

FINANCIAL GROUP, LLC BASED IN PENNINGTON,

missions focused on the growth of their

NJ EFFECTIVE SEPTEMBER 27, 2017.

clients, people and firms. The strategic move and the transition has proved seamless

The addition of The GM Financial Group’s

and fruitful. Kevin J. Hansen and Frank Paw-

approximately $140 million of assets under

lowski, Co-Managing Partners of The Hunt-

management (AUM) brought Sax Wealth

er Group continue to manage the Fair Lawn

Advisors’ practice to $875 million of AUM

office.

in addition to $160 million of assets under advisement through 401(k) plans for over

“Joining forces with Sax is an exciting time for our firm and with our similar mindsets, our commitment to our clients will only deepen, and we can extend our reach and enhance our service offerings even further.”

Kevin J. Hansen and Frank Pawlowski, Co-Managing Partners of The Hunter Group

SAX WEALTH ADVISORS ACQUIRED STERLING PORTFOLIO MANAGEMENT LLC BASED IN TUXEDO, NY EFFECTIVE JULY 20, 2017.

Sterling had served the wealth management needs of businesses and individuals located primarily in the New York metropolitan area since 2002. Founder Gregory Duffy has grown the firm to nearly $40 million of management assets and now joins Sax Wealth Advisors as a Wealth Advisor. p_10 › SAX YEAR IN REVIEW 2017-2018

$1 billion in collective assets. Founder Guy McPhail joins Sax Wealth Advisors as a Principal and continues to manage the firm’s Pennington, NJ office.

“As GM looks to the future, we believe teaming with Sax Wealth Advisors will only strengthen our inherent objectives. A firm that emphasizes fee-only independent financial planning advice, coupled with a strong CPA background was the perfect match for us. These two crucial strengths will ensure our clients continue to receive the most comprehensive guidance and solutions to meet their needs and goals.”

Guy McPhail, President and Founder of The GM Financial Group

ACQUISITIONS BY THE NUMBERS

02 31 New Offices

Additional Employees

4,000 New Client Relationships

$6,400,000 Additional Accounting Firm Revenues

$180,000,000 Additional Assets

05

Additional Senior Advisors

06

Additional CPA Partners

855 VALLEY ROAD › CLIFTON, NJ 07013 17-17 ROUTE 208 › FAIR LAWN, NJ 07410 10 SOUTH MAIN STREET › PENNINGTON, NJ 08534 551 MADISON AVENUE, 12TH FLOOR › NEW YORK, NY 10022

SAX YEAR IN REVIEW 2017-2018 › p_11

THOUGHT LEADERSHIP

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SAX CONTINUES TO

› Fist to Five® Event Series

CONTRIBUTE TO OUR

Sax is committed to helping not-for-profit organi-

BUSINESS COMMUNITY BY PROVIDING COMPLIMENTARY

zations become more like businesses and for-profit organizations become more socially responsible.

Through an annual event series, our Not-for-Profit

EVENTS THAT FOSTER

team members use their depth of experience and

THOUGHT PROVOKING,

expertise to educate and consult clients on key

INDUSTRY RELATED DISCUSSIONS AND ASSIST IN

areas critical to their organization’s success. We call it moving from Fist to Five.

FORGING PROFESSIONAL

› Industry Updates

RELATIONSHIPS.

From Healthcare to Construction, and Real Estate to Manufacturing and Distribution, Sax

Visit saxllp.com to stay on top of upcoming

holds annual industry update events designed to

events that include:

gather experts and professionals for discussions on emerging trends, important updates and fore-

› Bankers Breakfast

seeable challenges facing the largest vertical

2017 marked Sax’s 12th annual Bankers Breakfast.

markets. Through these informative networking

The informational panel discussions are held for

opportunities, Sax’s clients, prospects and friends

the banking community to discuss some of the

of the firm walk away with increased knowledge

latest developments and trends in the most

and stronger professional relationships.

competitive market sectors in the tri-state area including Construction, Real Estate, Healthcare,

› Sax Webinars

M&D and Not-for-Profit.

Sax kicked off the firm’s webinar initiative in 2017 with the goal to deliver updates and relevant in-

› The CFO Focus Seminar Series

formation directly to our clients on topics that are

At Sax, our goal is to keep our clients continually

meaningful to their businesses and that impact

informed of industry updates, and to provide ideas

their industry. Such webinars included a series

to increase profits and reduce expenses. The CFO

that broke down the specific aspects of the new

Focus seminar series brings timely, actionable busi-

Tax Act that will bring about change, in addition to

ness advice on the issues and challenges faced by

webinars that informed clients on the new Revenue

CFOs and other financial managers.

Recognition standards.

SAX YEAR IN REVIEW 2017-2018 › p_13

BEYOND ACCOUNTING & TAX

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SAX WEALTH ADVISORS

The firm saw rapid growth in 2017 after completing

IS AN INDEPENDENT

two acquisitions of Sterling Portfolio Management

REGISTERED ADVISOR

LLC and The GM Financial Group LLC which brought the practice to $875 million of assets

OFFERING COMPREHENSIVE

under management and $160 million of assets

FINANCIAL SERVICES. THE

under advisement through 401(k) plans for over

FIRM IS A WHOLLY OWNED

$1 billion in collective assets. Sax Wealth Advisors

SUBSIDIARY OF SAX LLP AND

now operates out of three offices in Clifton, NJ, Pennington, NJ, and New York City, NY.

OFFERS INDIVIDUAL WEALTH MANAGEMENT AND EMPLOYER RETIREMENT SOLUTIONS. In 2017, Sax Wealth Advisors was approved to join the National Association of Personal Financial Advisors (NAPFA) which is one of the country’s leading professional associations of

THE WEALTH MANAGEMENT TEAM

Kyle R. Stawicki,

Partner-in-Charge Marie DeCaprio,

cfp ®, cfa ®

Fee-Only advisors. As one of 3,000 members nationwide, Sax Wealth Advisors must adhere to strict guidelines for professional competency,

Partner Guy McPhail,

cfp ®, cpa / pfs

Principal

comprehensive financial planning and Fee-Only compensation. This means the advisors at Sax Wealth Advisors only work in the best interest of their clients, with no commissions or hidden fees.

chfc ®

Gregory Duffy Wealth Advisor Joseph Piela,

cfp ®

Portfolio Advisor Sax Wealth Advisors takes an academic, research based approach to accumulating, protecting and transferring wealth and provides a wide range of strategies and services to help clients reach their financial goals.

Jeremy Rhen,

cfp ®

Portfolio Advisor Gregg Munn Jr.,

cfp ®, cpa

Portfolio Advisor

SAX YEAR IN REVIEW 2017-2018 › p_15

THE FOUNDER’S AWARD

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2017 MARKED SAX’S

inspired the vision of advancing clients forward

FIRST ANNUAL FOUNDER’S

by advising them in the key areas critical to their

AWARD WHICH GRANTED

success. The Founder’s Award is a vehicle in which Sax honors these values by empowering not-

ONE NOT-FOR-PROFIT

for-profit organizations and ensuring their future

ORGANIZATION WITH A

existence and positive impact on our world.

$15,000 UNRESTRICTED GIFT FOR BEST DEMONSTRATING THEIR EFFORTS TOWARDS SUSTAINABILITY. 187 not-for-profit organizations applied, and after an in-depth application process and review by four independent judges, Sax was proud to award Imagine – A Center for Coping with Loss with the gift. Members of the Sax team visited Imagine to witness first-hand how the $15,000 award would support their organization.

The Founder’s Award is in honor of Sax’s Founders

“The cliché ‘There were no losers that night’ is absolutely true! What a great celebration of nonprofits. Thank you for all your efforts to make it so. Our relationship with Sax grows stronger.”

George Hayes, Montclair Cooperative School and an applicant of The Founder’s Award

– Sander Sax, Morris Macy, and Egon Fromm – who

SAX YEAR IN REVIEW 2017-2018 › p_17

P.O.W.E.R.

SAX 2017-2018

Year in Review

PROFESSIONAL ORGANIZATION OF WOMEN

THOUGHT LEADERSHIP FOR EMPOWERMENT & RESULTS

SAX LLP IS PROUD TO SPONSOR AND SUPPORT THE PROFESSIONAL ORGANIZATION OF WOMEN

“Many women strive to do it all in their professional and personal lives, and our firm’s

FOR EMPOWERMENT AND RESULTS (P.O.W.E.R.) NETWORK AT THE FIRM. THE GROUP’S MISSION IS TO EMPOWER WOMEN AND COLLECTIVELY REDEFINE THEIR ROLE IN THE BUSINESS ENVIRONMENT.

P.O.W.E.R. group allows us to find common ground with one another by forging bonds through charity events and relevant discussions. It has truly

Firm leadership is committed to the advancement of women’s careers and seeks

evolved into a strong network

to create a supportive network that brings professional women together for career

of women who empower and

development and community outreach, and assist female employees in maintaining a

uplift one another to reach our

work-life balance while pursuing their professional goals.

The group holds events and activities that benefit

highest potential.”

Jennifer Moroz, Sax Partner & a Woman of P.O.W.E.R.

the women of Sax, in addition to our female clients and business partners that include:

› Educational Roundtables › Motivational Presentations › Internal Team-Lifting Events › Philanthropic Activities

SAX YEAR IN REVIEW 2017-2018 › p_19

INTERNAL ENHANCEMENTS NEW TEAM MEMBER INITIATIVES

initiatives such as these in an effort to bring employees together outside of work to forge bonds and create better working relationships. › Casual Fridays Effective 2017, Sax employees can dress down on Fridays in the office for comfort and convenience. This initiative is due largely in-part to the firm’s emphasis on flexibility for team

› Wellness Program

members to aid in their productivity and to

Sax launched the firm’s Wellness Program

allow for a more relaxed atmosphere to drive

in 2017 which is designed to help employees

results.

gain tools and information for making simple lifestyle changes to maintain or improve overall health. These perks are provided to

FIRM TECHNOLOGY

employees at no charge, and benefits include

› Infrastructure Overhaul

chair massages, cooking classes, walking chal-

In 2017, Sax renewed its focus on technology

lenges, on-site flu shots and more.

and innovation as the firm continues to expand and is exposed to the vast and benefi-

› Non-Mandatory Saturdays During the busy tax season, it was required that employees work Saturdays to fulfill their increased hour requirement. Effective 2017, Saturdays are no longer mandatory and team members have the option to work from home to complete their hours at their convenience.

This is due largely in-part to the firm’s aim to be more results-oriented rather than focus on unbending rules and requirements. › Team Building Initiatives Sax participated in the Double AA Sports Co-Ed Softball League in 2017 and 25 employees joined the team for their first season. The firm also participated in the NJCPA Kickball tournament that a number of team members took part in. Sax focuses on team building

p_20 › SAX YEAR IN REVIEW 2017-2018

cial capabilities of new technology, in addition to the dangers they pose. Sax has invested heavily in a total revamp of the firm’s internal infrastructure which includes top-of-the-line systems and platforms to aid in productivity and overall efficiency.

The firm has updated all policies, procedures and systems to further insulate and protect the firm and data, and has implemented an internal security training program to educate team members on identifying cybersecurity threats to eliminate risk.

2017 BY THE NUMBERS

184

Total eBlasts sent

1,290 Total in-person event attendance

324

Total webinar attendance

$67,000

Total funds raised by 4 Miler Benefiting St. Joseph’s Children’s Hospital

$13,520 11,700 Total raised internally for charity

Total cans of soda consumed

26,200 142 Total cups of coffee/tea consumed

Total new clients

SAX YEAR IN REVIEW 2017-2018 › p_21

CULTURE OF GIVING BACK

Sax’s 2017 4 Miler raised $67,000 for St. Joseph’s Children’s Hospital

SAX STRIVES FOR MORE THAN GROWTH AND

4 Miler at Garret Mountain

SUCCESS FOR THE FIRM. IT IS EMBEDDED IN THE

2017 marked the firm’s 6th annual 4 Miler at

FIRM’S CULTURE TO SUPPORT OUR SURROUNDING COMMUNITIES, AND USE OUR STRENGTH

Garret Mountain which directly benefits the pediatric patients of St. Joseph’s Children’s Hospital in Paterson. Together, the firm raised

TO PICK UP OTHERS. THE FIRM ENCOURAGES

$67,000 for the Child Life Department which

AND ENABLES ITS TEAM MEMBERS TO GIVE

provides quality-of-life programs to the children

BACK TO THE AREAS THEY LIVE AND WORK

receiving treatment. Since its inception, the

THROUGH PTO TIME FOR VOLUNTEERISM AND MATCHING FUNDS FOR FIRM FUNDRAISERS. THIS

annual run/walk event has raised over $370,000 for the children’s hospital.

HAS BECOME AN INHERENT MINDSET OF THE

Charitable Giving – 2017 Natural Disasters

FIRM, AND AN INITIATIVE THAT TEAM MEMBERS

Through employee donations, a firm contribution

WHOLE-HEARTEDLY STAND BEHIND.

and matched employee donations by the firm,

p_22 › SAX YEAR IN REVIEW 2017-2018

Sax raised just under $8,000 for Hurricane Relief which was equally distributed for relief efforts between Hurricane Harvey, Irma and Maria. In addition, physical good collection drives were held to help those significantly impacted by these devastating storms.

Year Long Denim for Donations Sax makes it enticing and effortless for our team members to donate to local organizations all year long. Dress down days are provided monthly in return for a donation to a selected nonprofit organization/charity. In 2017, the firm raised $3,320 for 14 organizations.

Volunteerism and Donations Sax offers team members a paid time off day to use for volunteering for charity. The firm coordinates volunteer events and annual food/ toy drives that benefit our local organizations which include: Paterson Habitat for Humanity, The Community FoodBank of NJ, Oasis – A Haven for Women and Children, American Cancer Society’s Making Strides Against Breast Cancer, United Way of Passaic County, and the New Jersey Community Development Corporation.

“Our firm truly has a passion for empowering not-for-profits and giving back where we can. The for-profit world needs to support the not-forprofit world because their positive impact benefits us all.”

Todd Polyniak, Head of Sax’s Not-for-Profit Practice SAX YEAR IN REVIEW 2017-2018 › p_23

FAMILY FIRST

2017 Firm Family Picnic

SAX IS A FAMILY.

WE WISH TO CONGRATULATE OUR TEAM

The firm recognizes the importance of finding ful-

MEMBERS WHO HAD NEW ADDITIONS TO

fillment both in and out of the office and offers customized work arrangements so team members can enjoy a work-life balance. Sax holds family-friendly social events and celebrations through-out the year such as Bring Your Child to Work Day and our annual Firm Family Picnic. During tax season, we understand work lives get hectic, and we encourage team members to work from home when able to eliminate too much time away from loved ones.

Sax truly makes it a priority to build unity and camaraderie among our team members, as well as recognize the family members who support them in their roles at the firm.

THEIR FAMILY THIS YEAR:

Greg Lewis and his wife welcomed their baby boy, Conor Gregory Carolyn Conforti and her husband welcomed their baby boy, Chase Michael Javeeriya Umer Qazi and her husband welcomed their baby boy, Zarar Megan Sartor and her husband welcomed their baby girl, Luciana Lauren Adam Feldman and his wife welcomed their baby girl, Madison Francine April Kushner and her husband welcomed their baby boy, Lucas Adam Holzberg and his wife welcomed their baby girl, Abigail Mara

p_24 › SAX YEAR IN REVIEW 2017-2018

SAX YEAR IN REVIEW 2017-2018 › p_25

SAX 2017-2018

Year in Review

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