Advisor Spotlight

The Community Foundation is here to help professional advisors better serve their clients with charitable goals. The Foundation can develop plans that fit clients’ financial needs and philanthropic passions. In this section, we like to shine a spotlight on advisors who have partnered with their clients and the Community Foundation to strengthen our region through philanthropy.

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Shayla T. Scott

Senior Manager at MMB + CO

Involved with the Community Foundation since 2022

How Shayla’s work fuels the power of community:

In a field known for its precision and predictability, Shayla brings heart and humanity, challenging the status quo while making an impact beyond the balance sheets. 

Shayla’s commitment to philanthropy began at an early age, watching her mother volunteer at their church’s bookstore. As a child, she was in awe of how her mom interacted with people — helping them find what they needed and listening to their stories. It was Shayla’s mom who taught her to use a cash register — a skill that launched her love of numbers. Volunteering at the bookstore taught Shayla how being present and listening can be more important than having the perfect piece of advice. 

Fast forward to today, and how Shayla gives back has evolved. As committee chair for the Career Opportunities in the Accounting Profession (COAP) program, Shayla is passionate about showing high school students — particularly those from underrepresented communities — that accounting is so much more than number crunching. “I actually participated in this program when I was in high school. It’s what pushed me to choose accounting as my major in college,” says Shayla. “So, it’s kind of a full circle moment now that I am a CPA and I am leading the program that opened the door for me.”  

Shayla is making waves in a field where only 2% of CPAs in the U.S. are Black (and even fewer are also women), a fact that both motivates and humbles her. “Sometimes you have to see [someone like you do it] before you know that you can achieve it,” she says. “So, I do a lot of student outreach, especially with students in the City of Rochester, just to show them that this career path, something that they may have never heard of, is possible.” 

Her positive influence extends from the classroom to the workplace, where she serves as the chair of her firm’s Diversity, Equity, and Inclusion (DEI) Committee. Following the death of George Floyd and resurgence of the Black Lives Matter movement, her firm rallied to make a difference. The result? The MMB Accounting Diversity Scholarship, awarding up to $10,000 to minority students studying accounting in New York State. “[We] stand in solidarity with the community… and want make sure that our work environment is a place where all voices are heard,” Shayla explains. 

Shayla’s blend of passion, advocacy, and leadership is a powerful reminder to us all. Sometimes, it’s not just about balancing the books: It’s about balancing opportunity, representation, and hope. 

Shayla’s top three year-end tax tips: 

  1. Scrutinize transactions and life changes: Encourage your clients to thoroughly review their bank and credit card statements, checkbook entries, and calendar. Often, deductible expenses or significant life events — such as a job change or a home purchase — can be overlooked during year-end tax planning but might offer valuable tax benefits. 
  2. Revisit last year’s tax return: A detailed look at the prior year’s return can reveal recurring items that should be considered again. These could include estimated tax payments, recurring deductions, or even carryovers that may impact the current year’s tax strategy. 
  3. Anticipate Capital Gains: Collaborate with your client’s financial advisor to understand any capital gain activity or distributions that could affect their tax liability. Unexpected capital gains often lead to surprise tax obligations in April, so proactive planning can prevent unpleasant surprises. 
Charitable involvement in Rochester:

Shayla is a member of the New York State Society of Certified Public Accountants (NYSSCPA). As shared above, she chairs this organization’s COAP program and the DEI committee at MMB + CO. She is also a member of the Accounting Advisory Board at her alma mater, Rochester Institute of Technology. She can often be found mentoring students, teaching them soft skills like resume writing, interviewing, and networking etiquette. Shayla joined the Professional Advisor Liaison Committee (PALC) at the Community Foundation in 2022.  

Published October 2024