The non-profit focused accounting firm NCheng LLP has opened a new headquarters on the 46th floor of a building at 40 Wall Street in New York. The company stated that they moved into the new location this summer, which is 14 floors higher than their previous office space in the same landmark building. This will provide space for team expansion and offer a more modern support base for non-profit organizations that rely on their auditing, accounting, and financial system services.
This expansion comes at a time when the industry is under pressure. According to data from the New York City Comptroller, eight out of ten non-profit and human services contracts in New York City are experiencing delays in registration, forcing these organizations to pay for salaries and rent out of their own pockets while waiting for payments. Meanwhile, half of the top 20 accounting firms in the United States have already accepted or agreed to accept private equity investments, which is changing the way many of these firms operate and who they are accountable to.
Non-profit organizations don't need another supplier. What they need is a financial partner who understands limited funding, government contracts, and audit deadlines, and who will still be there in ten years from now, said Faizan Younus, managing partner of NCheng LLP. “While many large firms in our industry are selling to private equity, we made a different choice: to invest in our employees, our technology, and the field we have been serving for over thirty years. This office is a testament to our intention to stay here in the long term.”
The new workspace also reflects the changes in the working approach of NCheng. Before the pandemic, the company's teams would typically work side by side with clients in their offices. Nowadays, many non-profit organizations have adopted a hybrid working model, and some have even given up their own office spaces. NCheng has adjusted accordingly, designing its headquarters to fit the current working methods of its clients, including facilities suitable for clients to hold board meetings.
This is also an investment in the NCheng team members: providing a place where they can share ideas, collaborate across teams, and grow together with the mission of the organizations they serve, just as previous generations of professionals from NCheng have done. Younus began their career at NCheng and in 2025 took over as managing partner from the founder, Nerou Cheng. Founder Nerou Cheng stated, "I founded NCheng because non-profit organizations deserve accountants who truly understand them. Nearly forty years later, that remains our original intention. This new home gives our team's next generation the space to continue this legacy."
Developed to meet the current needs of non-profit organizations
NCheng provides services to non-profit organizations through three main areas of business: auditing and assurance; financial management services, which include providing outsourced accounting and financial teams for organizations of various sizes; and technological transformation, helping non-profit organizations migrate to modern cloud accounting systems, automate month-end closing processes, and establish real-time reporting for management and the board of directors. The company also assists organizations in preparing budgets for city contracts and recovering delayed government reimbursements.
Inside the new headquarters
- Facilities available for use in client board of directors meetings. The meeting rooms provide a professional space for non-profit organizations, which can be used to hold board of directors, finance committee, and audit committee meetings, including those organizations that have given up their own offices after the pandemic.
- Meeting rooms adapted for hybrid working. Microsoft Teams Rooms and one-click wireless presentation features enable board members, financial staff, and auditors to collaborate whether they are on-site or remote.
- Established in 1930, it was designated as a New York City landmark in 1995, allowing NCheng to continue to be located at one of the most famous addresses in the financial district.
About NCheng LLP
NCheng LLP is an independently registered accounting firm that has been focusing on non-profit organizations since its establishment in 1989. As one of the early institutions to provide outsourced accounting services to non-profit organizations, NCheng has served over 400 non-profit organizations through its auditing and assurance, financial management services, and technology transformation services. The company has approximately 200 professionals in New York and Gurgaon, India. For more information, please visit www.ncheng.com.
