NCheng LLP Unveils New 40 Wall Street Headquarters, Doubling Down on Independence as Private Equity Reshapes Accounting

Nonprofit-only CPA firm that has served more than 400 organizations since 1989 is investing in its people and in a space built for hybrid clients, as New York nonprofits face late government payments and rising compliance demands

NEW YORK, Oct. 27, 2026 /PRNewswire/ -- NCheng LLP, an independent accounting firm that works exclusively with nonprofit organizations, has opened its new headquarters on the 46th floor of 40 Wall Street. The firm moved in this summer, 14 floors up from its previous space in the same landmark building, giving NCheng room to grow its team and a modern base for serving the nonprofits that rely on it for audits, accounting and financial systems.

The expansion comes at a difficult moment for the sector. In New York City, 8 in 10 nonprofit and human services contracts are registered late, according to the City Comptroller, leaving organizations to cover payroll and rent while they wait to be paid. At the same time, half of the nation's 20 largest accounting firms have taken or agreed to take private equity investment, changing how many firms are run and who they answer to.

"Nonprofits don't need another vendor. They need a finance partner who understands restricted grants, government contracts and audit deadlines, and who will still be here in ten years," said Faizan Younus, Managing Principal of NCheng LLP. "While many of the largest firms in our profession are selling to private equity, we're making a different bet: investing in our people, our technology and the sector we've served for more than three decades. This office is a statement that we're here for the long term."

The new space reflects how NCheng's work has changed. Before the pandemic, the firm's teams worked side by side with clients in their offices. Today, many nonprofits operate in a hybrid model, and some have given up their office space altogether. NCheng has adapted with them and designed its headquarters to meet clients the way they now work, including as a place where they can hold their own board meetings.

It is also an investment in NCheng's staff: a place to share ideas, work across teams and grow with the missions of the organizations they serve, as earlier generations of NCheng professionals have. Younus, who began his career at NCheng, became Managing Principal in 2025, succeeding founder Nerou Cheng in leading the firm. "I started NCheng because nonprofits deserved accountants who truly understood them," said Nerou Cheng, founder of NCheng LLP. "Nearly four decades later, that is still the whole idea. This new home gives the next generation of our team the space to carry it forward."

Built Around What Nonprofits Need Now

NCheng works with nonprofits through three practices: Audit & Assurance; Financial Management Services, which acts as an outsourced accounting and finance team for organizations of every size; and Technology Transformation, which moves nonprofits onto modern cloud accounting, automates month-end close and builds real-time reporting for executives and boards. The firm also helps organizations prepare budgets for city contracts and recover delayed government reimbursements.

Inside the New Headquarters

• A home for client board meetings. Conference rooms give nonprofits, including those that gave up their offices after the pandemic, a professional place to hold board, finance committee and audit committee meetings.
  
  
• Hybrid-ready meeting rooms. Microsoft Teams Rooms and one-touch wireless presentation let board members, finance staff and auditors work together whether they are in the room or remote.
  
  
• Room for the team to grow. Shared workspaces bring NCheng's audit, financial management and technology teams together to share ideas and develop the next generation of nonprofit finance professionals.

40 Wall Street, completed in 1930 and designated a New York City landmark in 1995, keeps NCheng at one of the Financial District's best-known addresses.

About NCheng LLP

NCheng LLP is an independent certified public accounting firm that has worked exclusively with nonprofit organizations since its founding in 1989. One of the early providers of outsourced accounting to nonprofits, NCheng has served more than 400 nonprofit organizations through its Audit & Assurance, Financial Management Services and Technology Transformation practices. The firm has approximately 200 professionals in New York and Gurugram, India. Learn more at www.ncheng.com.

SOURCE NCheng LLP