High Profile: Meet Louis Grassi, Top Long Island CPA

“Our focus as a firm is entrepreneurial companies, nonprofits and high-net-worth individuals,” explains Grassi. “We offer a unique service approach and are one of the highest-rated service providers as rated by our clients.”

His team includes experienced CPAs, CFOs, business consultants, forensic accountants, valuation experts, trust and estate specialists and tax advisers, all of whom combine to offer strategic advice and customized solutions to overcome obstacles standing in the way of clients and greater success.

They also are well respected for their research skills, which they use for the benefit of their clients. Grassi CPAs’ client satisfaction rating is almost three times higher than the industry average. They’ve also earned “Best of the Best” titles 13 times in rankings such as the Inside Public Accounting 500 list, most recently in August 2023.

“I started Grassi CPAs from scratch,” he remembers. “We think of ourselves as entrepreneurs serving entrepreneurs.” He adds that the goal is to help clients grow and be successful by minimizing their tax obligations, helping them maximize their opportunities and helping them succeed both professionally and personally.

“It is not uncommon for high earners to have financial trouble,” Grassi explains. “They often sacrifice short-term spending for long-term success. When you’re making a lot of money, people usually spend it like they’ll always be making that amount of money. Our focus is to make sure your money lasts when your career ends. We want you to have enough money to go the distance.”

He says many people who could benefit from financial planning just don’t do it for one reason or another. Some think they don’t have enough money to bother with a planner. Others may think they can do it all themselves, without realizing that the time they would spend on financial planning they could be spending on what they do best, growing their business.

Grassi CPAs’ client concentrations include architects and engineers, automotive, cannabis, construction, energy and utilities, financial services, franchises, healthcare, manufacturing and distribution, nonprofits, real estate, and sports and entertainment.

Another aspect of service they provide is in the preparation of wills and trusts, which is under the watchful eyes of Lisa Rispoli, who brings more than 30 years of experience as a certified public accountant specializing in estate planning, trust administration, fiduciary tax compliance and individual income tax planning. As leader of Grassi’s trust & estate and private client services practices, she oversees a team of professionals providing tax-efficient wealth preservation and transfer strategies to high-net-worth individuals and families.

An area especially close to Grassi’s heart is the nonprofit sector, which is run by partner David Rottkamp, who leads the nonprofit practice. This year he was named a 2023 Notable Nonprofit Board Leader by Crain’s New York Business. The annual list recognizes individuals whose commitment to the public good inspires and elevates those in need and communal causes. Rottkamp is committed to guiding Grassi’s nonprofit clients to greater sustainability and less risk. Their clients include social service providers, religious organizations, educational institutions, membership associations, healthcare providers, foundations and those in the arts and culture world.

Grassi understands that nonprofits’ constituents depend on the organizations’ success and viability.

“We focus on their long-term viability,” Grassi says. “If they are not successful, their constituents suffer. The communities and the people they serve are dependent on them and their long-term viability and ability to serve those who depend upon them. David is famous in this industry.”

This segment of the business is dear to Grassi’s heart because of his personal philanthropic philosophy, which he inherited from his mother and grandmother.

“I have been blessed and want to give back to those who have not been as blessed, especially to children,” Grassi says. “This was instilled in me by them. We didn’t have a lot, but there were those who had less than us and I remember opening our house to feed folks during the holidays, those with short-term bad luck or those in bad circumstances. We’d offer them food and friendship.”

One area of charitable giving for Grassi is St. Jude’s Children’s Hospital. Another is to support those organizations that provide opportunities to disadvantaged children.

“I was taught that it is important to remember that there are always those who have less than you,” says Grassi, who adds that this belief has encouraged him to grow his nonprofit division to help as many as possible by ensuring that nonprofits have a strong footing and a solid future.

Todd Shapiro is an award-winning publicist and associate publisher of Dan’s Papers.