Richard J. Locastro, CPA, JD

Partner and Director, Nonprofit Tax

Biography

Mr. Locastro has worked in public accounting since 1986, including six years in the tax offices of Big Four firms. His clients include private foundations, colleges, universities, healthcare organizations, museums and other large nonprofit institutions. He has extensive experience assisting clients with unrelated business income tax analysis, private foundation excise taxes, Form 990 and Form 990-T preparation and presentation, intermediate sanctions analysis, payments to and from controlled subsidiaries, nonresident alien withholding and reporting requirements, foreign grantees withholding requirements, IRS dispute resolution, exemption application assistance and private letter ruling request submissions.

Currently the Immediate Past Chair of the AIPA Tax Division Technical Resource Panel (TRP) for Exempt Organizations, Mr. Locastro has been a member of the TRP since 2013, serving as Vice Chair in 2017 and Chair in 2020.

Mr. Locastro oversees the firm’s team of tax professionals who provide consulting and tax compliance services to more than 500 nonprofit organizations. He coordinates tax planning, consulting services, return preparation and representation on IRS audits, and frequently speaks at national conferences.

A champion of diversity, equity and inclusion a the firm, Mr. Locastro is a founding committee member of GRF’s Diversity, Equity and Inclusion initiative established in 2019.

Education and Certifications

  • Juris Doctor, University of North Carolina
  • B.S. in Accounting, Le Moyne College

Professional Affiliations

  • American Institute of Certified Public Accountants (AICPA), Chairman, Tax Division Technical Resource Panel (TRP) for Exempt Organizations
  • AICPA Not-for-Profit Industry Conference Committee Tax Lead
  • Greater Washington Society of CPAs (GWSCPA)
  • Le Moyne College, Chairman, Board of Regents and Member, Board of Trustees
  • Maryland Association of CPAs (MACPA)
  • St. Thomas More, ESL Teacher

Resources

News and Events