30-Year-Old Firm Built to Strengthen Nonprofit Sector Continues to Lead Among Social Entrepreneurs
Submitted by Raffa-Marcum’s Nonprofit & Social Sector Group
Reflecting the commitment of the consulting firm’s leadership and staff, Raffa received its re-certification as a B Corporation and boosted its “B Score” in the process. Founded more than 30 years ago by Thomas Raffa, the firm has thrived as it has met its goals of strengthening the nonprofit business sector and proving that companies dedicated to social good can thrive.
“As we continue to grow and our reach expands across the globe, we are now helping other businesses who believe, as we do, that companies should be the drivers of positive economic and social outcomes. This is not about just being charitable, writing a check or paying lip-service to causes,” said Tom Raffa, CEO and Managing Partner of Raffa, P.C. “I began this company with that goal in mind, and having helped advance the nonprofit sector to operate more efficiently to achieve their missions, my firm and I are redoubling our efforts to bring along more of the corporate world to making a positive difference.”
“Recognizing and shaping the long-term benefits of contributing to a sustainable world, while generating financial returns is our opportunity at hand,” added Raffa. “The world has faced and resolved numerous challenges over the past centuries, and we know more tangible benefits can be generated through corporate citizenship when it is integrated into all aspects of a business.”
“Our B Corp certification is one demonstration of our commitment to do better for our community, our clients, our staff and our world” said Raffa.
The nonprofit organization B Lab uses a customized assessment for each B Corp certification, based on industry, location and size. In order to become certified, the company must meet strict standards of social and environmental impact, accountability and transparency. The company must score an 80 or higher on the B Lab scale to finally obtain B Corp certification. Raffa received a score of 118. The certification covers Governance, Workers, Customers, Community and Environment. Raffa’s scores on each measure topped global averages across all B Corps.
“Because of our admiration for fellow B Corp, Patagonia, and its founder Yvon Chouinard, we challenged ourselves to match their B Score of 116 during our recertification process,” said Raffa. “We were thrilled that our efforts, especially our improvement in our Environment, Workers and Customers areas, resulted in an overall score of 118.”
B Lab describes B Corps businesses: “By voluntarily meeting higher standards of transparency, accountability, and performance, Certified B Corps are distinguishing themselves in a cluttered marketplace by offering a positive vision of a better way to do business. B Corps create higher quality jobs and improve the quality of life in our communities.”
Raffa is among a select few companies awarded this honor. B Lab has designated fewer than 1,400 corporations from 41 countries and 120 industries with the B Corp certification.
“As a business, our goal is to strike a balance that puts the value of profit, society and environment on equal footing and ensures that what we do today to meet our stakeholder needs will not compromise the ability of future generations to meet their needs. Our mandate is to leave the planet better than we found it,” wrote the leadership of Raffa in their recent annual corporate social responsibility report which noted that the firm contributed more than $3.8 million in cash, in-kind and pro bono services in 2014.
As a Certified B Corp, Raffa continues working toward one unifying goal: to redefine how success is measured in business. Learn more about Raffa becoming a B Corp here.
Founded in 1984, Raffa is an accounting, consulting and technology firm based in Washington, D.C. dedicated to service and community. As a B-Corp certified, national Top 100, “Best of the Best” CPA advisory firm specializing in nonprofits and socially-responsible businesses, Raffa performs high-quality audits annually and provides support to help organizations across the country effectively and efficiently manage their most critical processes. The firm’s highly specialized professionals provide planning, consulting and compliance services to entrepreneurs, families, nonprofits and social enterprises. Offering a deep bench of expertise across an array of services, including accounting and tax, human resources, technology and consulting, Raffa’s client-centric, customized approach helps each client meet its potential and ensures each client’s success is sustained and maintained. Learn more at www.raffa.com.
Raffa - Marcum’s Nonprofit & Social Sector Group’s strength and competitive edge lies in the fact that we provide expertise and superior service across a variety of essential interrelated financial, technology and consulting competencies. By embracing our client's vision and leveraging all of our talents, passion and resources to empower our clients, Raffa - Marcum's Nonprofit & Social Sector Group is able to fulfill its corporate mission to serve as a catalyst for positive systemic change in the community. Looking for the perfect interim CFO to help your organization address compliance requirements? Would it help to have external staff manage and provide your HR services? Would solid audit preparation, timely and accurate financial statements or new Federal Form 990 support help put your Board at ease? Is your organization ready to upgrade its accounting software or optimize its network performance? As your go-to-partner for compliance and operational excellence, Raffa - Marcum’s Nonprofit & Social Sector Group can help your organization manage all of your critical back office functions and free you up to remain focused on your mission. Services include: Accounting, Audit, Consulting, Employee Benefit Audits, Social Capital Advisory, and Tax.