Clark Schaefer Hackett

Cutting back

Clark, Schaefer, Hackett & Co. is an Ohio-based accounting and consulting firm with six offices spread throughout the Buckeye State.  The company's services include tax, assurance, qualified plan design, administration and auditing, litigation support, internal audit, outsourcing, business transactions and valuations, and financial planning. 

Clark, Schaefer, Hackett ranked No. 68 in Accounting Today's 2008 listing of the top accounting firms in the U.S by revenue.  Though the firm saw an increase of 4.9 percent in its annual revenue, its rank on the charts slipped from the 2007 list.  The company also eliminated nearly 8 percent of its workforce in 2007, trimming its total employees to 232 as of March 2008.  Clark, Schaefer, Hackett earns about 45 percent of its revenue from audit and attest services, 37 percent from tax services and 18 percent from other services.

Ohio born and bred

Clark, Schaefer, Hackett & Co. has its roots firmly in Ohio soil.  Virgil Clark established a small accounting practice in Middletown in 1938; it remained a one-office firm until 1961, when Clark added another location in Cincinnati.  With partner Bill Schaefer at the helm the business expanded to include an office in Springfield in 1967, moving on to Columbus in 1980 and Dayton in 1983.

Schaefer stepped down in 1992, paving the way for Pete Hackett, who served as president and chairman until 2002.  Neil O'Connor became president that year and took the chairmanship a year later, handing the presidency over to Tom Hazelbaker.  O'Connor retired from the firm in June 2007; William Hummel, who was once named one of the best tax practitioners in the United States by Money magazine, was appointed chairman.

Health care concerns

Clark, Schaefer, Hackett strengthened its health care practice in September 2008 when it acquired Clemans Group, a consulting firm that provides services to hospitals and practice groups as well as physicians, dentists and health care professions.  Clemans Group was founded in 1992 by Ted Clemans and operates out of Springfield, Ohio.  Terms of the deal were not disclosed, but Clemans and partner Bill Clayton will both join Clark, Schaefer, Hackett as principals.  The Clemans Group is now part of the firm's Health Care Industry Group. 

The new leaders

There was a reorganization of leadership in Clark, Schaefer, Hackett in July 2008 as the firm appointed a new chairman and new president.  Carl Coburn, who previously served as shareholder-in-charge of the Cincinnati office, took over the position of president of the firm after serving with Clark, Schaefer, Hackett for 22 years.  He replaced Thomas Hazelbacker, who will move to a new position as chairman of the firm, replacing William Hummel.  Coburn's primary area of expertise is in financial services, particularly financial statement disclosure and public company accounting and disclosure, business valuations and litigation support.  He is an active member of his community, serving as district auditor for the Boy Scouts of America, head of the financial committee and chairman of Elders for Faith Christian Fellowship Church, and an employee coordinator for the United Way.

The ONE

One of the industries that Clark, Schaefer, Hackett serves is not-for-profits.  The company serves approximately 200 clients in its not-for-profit industry group with budgets ranging from $250,000 to more than $30 million.

The firm helps to support not-for-profits in the community through a program called "The ONE" (Organizations of Noteworthy Excellence).  The ONE program is collaboration with the United Way of Greater Cincinnati, the Greater Cincinnati Foundation, the Pfau Foundation and the Haile/US Bank Foundation, which gives grants to not-for-profits that have demonstrated excellence.  The company awards four $2,500 cash prizes for companies that excel in the following categories: performance, principle, process and people.  There is also a $10,000 prize for the overall best firm.  Clark, Schaefer, Hackett holds year round events relating to the ONE programs.

Beyond the Midwest

Clark, Schaefer, Hackett & Co. was a founding member of AGN International, a global network of tax and accounting firms.  As of 2008, AGN International boasted 197 member firms in 90 countries, including 455 offices, and approximately 8,800 partners and staff.  Clark, Schaefer, Hackett is included in AGN's North America division, which includes 52 CPA/CA firms with a combined revenue of $625.6 million throughout the U.S., Canada, Mexico and Puerto Rico.



Clark Schaefer Hackett


105 East Fourth Street, Suite 1500
Cincinnati, OH 45202
Phone: (513) 241-3111
Fax: (513) 241-1212
www.cshco.com

STATS


  • Employer Type: Private
  • Chairman: Thomas Hazelbaker
  • 2009 Employees: 232

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