35 Years of Trust and Expertise: A Conversation With CICPAC Leadership

Foundation Software’s longtime partner, Construction Industry CPAs and Consultants, also known as CICPAC, is celebrating its 35^th Annual Conference this year.

To mark the occasion, I sat down with CICPAC’s Executive Director Kathleen J. Baldwin, CPA, CCIFP, and current CICPAC President Gray Coyner, CPA, to reflect on the organization’s history, what makes it unique and where it’s headed next.

Before we jump in, can you give us a quick overview of what CICPAC is?

Baldwin: Absolutely. CICPAC is a national network of exclusive, territory-specific accounting firms that specialize in the construction industry.

Our members provide contractors, owners and developers with expert financial guidance; including, industry-specific tax planning, Work-in-Progress (WIP) accounting and specialized construction-related services.

Our annual conference is something we’re very proud of. Every summer, construction-focused CPAs and consultants from across the nation gather to discuss the industry’s most complex accounting, tax and business challenges.

It’s the most powerful way for our professionals to build their network in order to evaluate and enhance their capabilities in a complicated environment like construction.

CICPAC has become such an established part of the construction industry. How did it all begin?

Baldwin: It all started back in the late 1980s. Construction accounting is incredibly nuanced and so accounting firm managers and partners wanted a space to collaborate and discuss the unique accounting, tax and financial challenges facing their contractor clients. Eventually, so many people ended up joining CICPAC, that what started as this small group, quickly grew into our massive national network.

One key figure in CICPAC’s early growth was John Corcoran, CPA, who served as the organization’s first executive director. Corcoran traveled throughout the construction industry, introducing professionals to CICPAC’s mission and building relationships with contractors, bankers, sureties and other industry partners.

His efforts established CICPAC as a trusted source of construction accounting expertise and laid the foundation for the organization it is today.

From then until now, the focus and goals of CICPAC never wavered. We’re still centered on education, peer support and building industry expertise, just like we were over three decades ago.

How does CICPAC help members stay ahead as the construction industry continues to evolve?

Coyner: One of CICPAC’s greatest strengths is how smoothly and confidently members share knowledge with one another.

Whether it’s changes in tax law, new accounting standards or emerging technologies like artificial intelligence, members are constantly exchanging ideas, experiences and practical applications.

That willingness to learn from one another helps firms adapt more quickly and better serve their construction clients.

Why is it so important that CICPAC members specialize in construction?

Baldwin: As mentioned, construction accounting is unlike any other industry. From work-in-progress reporting, retainage and revenue recognition to the surety relationships and complex tax issues, contractors face unique financial challenges that require specialized expertise.

CICPAC brings together the professionals who understand those complexities, allowing members to learn from peers who deal with the same issues every day.

We also have to celebrate your highly sought-out annual conference — what makes it so valuable to attendees?

Coyner: The conference stands apart because of the immense depth of its educational content. Rather than offering broad overviews of everyday topics, our sessions focus on highly technical, construction-specific issues that experienced professionals encounter, giving attendees practical knowledge they can’t easily find elsewhere.

Baldwin: Our education committee also adapts its educational content frequently to keep up with what’s happening in the world. For example, we’ve been calling in industry partners to share expertise on emerging topics like technology, artificial intelligence, fraud prevention and internal controls.

In addition to its own network, CICPAC partners with leaders across the industry. How does that strengthen CICPAC?

Baldwin: Associate members, like long-time partner Foundation Software, are an important extension of the CICPAC community.

Foundation’s construction-specific expertise gives members trusted resources they can rely on when serving their contractor clients.

Over time, more and more of these relationships have grown through face-to-face connections and ongoing collaboration, giving CICPAC members confidence that when they recommend a partner, their clients will be well taken care of.

What would you say to a construction CPA firm that’s considering joining CICPAC?

Coyner: If you’re committed to serving construction clients at the highest level, there’s tremendous value in becoming part of this community.

The relationships you build, the technical education you receive and the willingness of members to openly share ideas creates an environment that’s difficult to find anywhere else.

Our members genuinely want each other to succeed because stronger firms ultimately strengthen the entire industry.

Looking back over the past 35 years, what are you most proud of?

Baldwin: More than anything, I’m proud of the strong relationships our members have built. Even as the organization has welcomed a new generation of leaders, the collaborative culture has remained the same. Members genuinely want to help one another, openly share ideas and work together to strengthen the construction industry.

Coyner: And that collaborative environment is possible because members aren’t competing against one another. Instead, we’ve jointly built a safe space where everyone trusts each other’s expertise, rely on one another as true peers and many times collaborate to provide the best solutions.

Now as you look forward, what excites you most?

Baldwin: Our goal is to become the first resource contractors, bankers, sureties and other construction professionals utilize when they need trusted construction accounting expertise.

By continuing to expand educational resources, like our on-demand learning platform and thought leadership, we hope to make that knowledge even more accessible across the industry.

Describe CICPAC’s legacy in just three words.

Baldwin: I’d say that knowledge, community and trust best capture what the organization has built over the past 35 years.

Coyner: I agree with that.

As CICPAC celebrates this milestone anniversary, its mission remains the same: strengthen construction accounting expertise, foster lasting professional relationships and prepare the next generation of industry leaders.

Foundation Software is proud to support that mission and looks forward to continuing the partnership for years to come.