ACCOUNTING
ACCOUNTING
CEO Ralph Thomas Retires , Elevated Profession ' s Status
By Diane C . Walsh Editor , COMMERCE
Ralph Albert Thomas , CPA ( DC ), CGMA , is a few weeks from retiring as CEO and executive director of the New Jersey Society of CPAs ( NJCPA ), but he has not stopped thinking about more ways to help the profession .
His 23-year tenure at the 13,000-member society ends in June . And already he is exploring a new role as “ executive in residence ” at area colleges and universities to encourage students – especially ones of color – to choose careers as certified public accountants . It would leverage his extensive background and business network to tackle one of the profession ’ s most pressing challenges – declining enrollments .
“ It ’ s a great profession . But we don ’ t do a good job of promoting it ,” Thomas said in recent interview with COMMERCE Magazine . Nevertheless , the retiring CEO is proud of his strides in elevating the profession ’ s status . “ We got people to think of us as more than just tax and audit folks ,” he said . CPAs are now perceived as trusted advisors with their fingers on the community ’ s pulse .
“ If you really want to know what ’ s going on in New Jersey , who better to ask than a CPA ? They touch every business , every constituency . And we don ’ t have a hidden agenda ,” Thomas said . He remembers shocking state Sen . President Steve Sweeney years ago when he revealed accountants had to counsel clients to consider leaving the Garden State because of the tax burden and bleak financial outlook .
Thomas ’ candor with the legislative leader and other elected officials led them to rely on the NJCPA ’ s input in drafting policies and legislation and enacting reforms . Kathleen Alexander , a partner at Sax LLP who also serves as treasurer of the Commerce and Industry Association of NJ ( CIANJ ), praised Thomas as a fierce advocate in the successful repeal of New Jersey ’ s estate tax .
He strenuously lobbied officials and brought the issue to the public . Thomas even interviewed Alexander and a client about the tax ’ s adverse effects on the society ’ s YouTube channel . Together , their efforts convinced
“ If you really want to know what ’ s going on in New Jersey , who better to ask than a CPA ? They touch every business , every constituency . And we don ’ t have a hidden agenda .”
lawmakers and former Gov . Chris Christie that the onerous tax was causing an exodus that could also deprive the state of tremendous charitable donations and talent for its non-profit boards .
Steven Schinella , the office managing partner for CohnReznick in New Jersey and another CIANJ board member , was equally complimentary . “ For more than two decades , Ralph Thomas has been instrumental in advancing innovative programming and education to meet the evolving needs of NJCPA and its membership . It has been an absolute privilege to work alongside such a dynamic and forward-thinking leader for so many years .”
When Thomas took the society ’ s helm , he was the first person of color to head a state CPA society in the nation . Over the years , the accounting organizations in Illinois and New York also selected people with diverse backgrounds to fill leadership roles . Thomas helped mentor these colleagues and he said their presence make it easier for him to retire now .
In 1985 Thomas had joined the New Jersey society and he was the treasurer when Don Richards , a former president , encouraged him to apply for executive director . The position intrigued Thomas because he always wanted to run an organization . But he wanted an assurance from Richards that the board was ready for an African American executive director .
His talents and experience impressed the board . Thomas holds a master ’ s degree in
Ralph Albert Thomas , CPA ( DC ), CGMA
finance from Lehigh University , where he also did his undergraduate studies . During his career he had a stint at Price Waterhouse , and later worked at American Bell and AT & T during the break-up . Thomas was vice president and region audit head for Citibank ’ s mergers and acquisitions and structured finance group when he was approached by the society president . While Citibank tried to convince him to extend his 13-year investment there , the opportunities at NJCPA were too alluring .
Andrew Silverstein , a former CIANJ chairman , who is a partner at Dorfman , Abrams , Music LLC , described Thomas as one of the profession ’ s most outstanding members . “ He led the NJCPA with skill and the ability to have it proactively adapt to the ever-changing professional landscape .”
Thomas looks back over his tenure with pride . He said he is especially pleased to have had the opportunity to “ encourage more folks of color to come into the profession .” The retiring CEO predicts there will be growth among minority and women-owned small businesses . “ They are really going to want people who look like them to help guide them ,” said Thomas who hopes his success will be model for others .
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