What Dana F. Cole & Company does

Dana F. Cole & Company, LLP is a privately held, Lincoln, Nebraska-based accounting and professional services firm founded in 1915 and structured as a limited liability partnership. The firm operates 23 offices across six Midwest states (Nebraska, Kansas, Michigan, Minnesota, Missouri, and Wyoming) and employs 101–250 people, with ownership distributed across 19 named partners and Kent Klute serving as Managing Partner.

The firm delivers four core service lines: Accounting Services (including a wholly-owned payroll subsidiary, DFC Time Solutions, LLC), Tax Services (planning, preparation, and IRS representation for individuals, corporations, LLCs, partnerships, estates, trusts, and gifts), Audit and Financial Statements (audit, review, compilation, and specialized Employee Benefit Plan audits under ERISA), and Advisory and Consulting Services (business valuation, M&A, succession planning, forensic accounting, cash flow analysis, and projections). Service delivery relies on partner-led, relationship-based engagement supported by standardized tools including QuickBooks, ConvergePay, Zixmail, and BambooHR.

DFC serves approximately 500 not-for-profit organizations, performs 900+ audit/review/compilation engagements annually, and targets eight primary vertical segments: agriculture, higher education, contractors, dealerships, government units, healthcare, manufacturing, and not-for-profit. Distribution is direct-to-client through the local office network, with cross-office collaboration for complex engagements. National and international reach is provided through membership in the Eide Bailly Alliance. The firm has no institutional investors, no disclosed funding, and no public listing.

Name

Dana F. Cole & Company

Legal name

Dana F. Cole & Company, LLP

Website

https://danacole.com

Company type

Private

Founded year

1915

Operating status

Operating

Headcount range

101–250 employees

Short description

Dana F. Cole & Company, LLP is a Lincoln, Nebraska-based accounting and professional services firm founded in 1915, operating 23 offices across six Midwest states and serving agriculture, government, healthcare, not-for-profit, higher education, and manufacturing clients with tax, audit, advisory, and payroll services.

Ownership category

akta.pro rank

Headquarters

HQ city

Lincoln

HQ country

United States

HQ region

North America

Offices23 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Accounting Services: Full range of cost-effective accounting services including financial statement preparation, bookkeeping, and payroll processing through DFC Time Solutions subsidiary.
2. Tax Services: Tax planning and preparation for individuals, corporations, LLCs, and partnerships. Services include estate, trust, and gift tax planning. Firm prepares thousands of tax returns annually.
3. Audit and Financial Statements: Constructive solutions providing financial statements at all three levels: audit, review and compilation. Currently engaged to perform over 900 Audit, Review or Compilation reports.
4. Advisory and Consulting Services: Business planning, cash flow analysis, fraud investigation, management advisory, mediation, mergers and acquisitions, operations review, projections and forecasts, retirement planning, succession planning, and business valuation services.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Dana F. Cole & Company, LLP is a regional accounting and tax consulting firm delivering a full range of professional services including accounting, tax planning and preparation, audit and financial statement services, and advisory/consulting services. The firm also operates DFC Time Solutions, LLC as a subsidiary providing outsourced payroll processing, and serves clients through a network of 23 offices across six Midwest states.

Product overview

Dana F. Cole & Company, LLP is an accounting and professional services firm offering a unified suite of integrated services rather than a modular software platform. The core portfolio consists of Accounting Services (including DFC Time Solutions subsidiary for payroll processing), Advisory and Consulting Services (spanning business valuation, M&A, succession planning, and forensic accounting), Audit and Financial Statements (including specialized Employee Benefit Plan Audits), and Tax Services (with estate, trust, and gift tax planning). Services are delivered across 23 offices in six Midwest states through experienced CPAs who provide both technical expertise and personalized client relationships.

Differentiator

Problem solved

Functional benefit

Products and services

• Accounting Services Provides financial information management including bookkeeping (monthly/quarterly/annual), accounting system setup for new businesses, general ledger and financial statement preparation, payroll services, personal property returns, and sales & use tax filing for businesses and individuals.
• Tax Services Provides tax planning and preparation for individuals, corporations, LLCs, and partnerships, including estate, trust, and gift tax planning, plus IRS representation before federal and state tax agencies.
• Audit and Financial Statements Provides audit, review, and compilation services for financial statements at all three levels of reporting, plus specialized Employee Benefit Plan Audit services for pension, health and welfare, 401(k), and 403(b) plans subject to ERISA.
• Advisory and Consulting Services Offers business planning, cash flow analysis, fraud and forensic accounting, management advisory, mediation assistance, mergers and acquisitions support, operations review, projections and forecasts, retirement planning, succession planning, and business valuation services.
• DFC Time Solutions (Payroll Services) A wholly-owned subsidiary providing outsourced payroll processing including quarterly payroll returns, employee earnings records, multiple account direct deposit, EFTPS, electronic timekeeping, and W-2/W-3 preparation.
• Business Valuation Services Establishes business worth by setting values for tangible and intangible assets, performed by staff with ABV (Accredited in Business Valuation) credential through the AICPA.
• Estate, Trust and Gift Tax Planning Coordinates with attorneys, valuation experts, and financial planners to develop comprehensive estate plans that facilitate orderly asset transfer, provide security for beneficiaries, and minimize transfer taxes.

Quantifiable outcome

• Over 900 Audit, Review or Compilation reports performed
• +3 more outcomes

Named customers1 record

Segments8 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature2 records

Partnerships

One partnership is on record.

• Eide Bailly AlliancecoreStrategic or Co-development PartnerDFC is a member of the Eide Bailly Alliance, enabling the firm to call upon other member firms for national and international assistance and special expertise. This alliance, combined with DFC's internal quality control systems, enables the firm to offer clients the highest level of quality in professional services.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Eide Bailly LLP: Top-20 U.S. accounting firm headquartered in Fargo, ND with strong Midwest presence. DFC is a member of the Eide Bailly Alliance, making it the closest direct peer — same regional accounting, tax, audit, and advisory services to mid-market clients across agriculture, government, NFP, and healthcare.
• Wipfli LLP: Top-20 U.S. accounting and advisory firm with deep Midwest roots (Wisconsin HQ). Closely comparable in client mix (mid-market, NFP, healthcare, manufacturing, dealerships), service portfolio, and regional multi-office model.
• Forvis (formerly BKD): Top-10 U.S. accounting firm resulting from BKD/MDH merger, with strong Midwest heartland presence. Direct peer for DFC's healthcare, NFP, government, and higher education audit practices; similar vertical specialization and rural reach.
• CliftonLarsonAllen (CLA): Top-10 U.S. accounting firm with significant Midwest operations and strong NFP, government, healthcare, and agriculture verticals. Direct peer given overlapping service lines, client base, and growth-oriented regional model.
• Plante Moran: Top-15 U.S. accounting firm headquartered in Michigan with deep Midwest concentration. Comparable in size tier, manufacturing/agriculture client focus, and multi-office regional service model — DFC has a Michigan office overlapping CLA/Plante Moran territory.
• RubinBrown: Top-50 U.S. accounting firm based in St. Louis, Missouri, serving closely held businesses, NFP, government, and manufacturing clients. Direct comparable for DFC's Missouri operations and overlapping vertical specialization.

Regional players

• Anderson ZurMuehlen: Regional CPA firm in Montana serving similar mid-market, NFP, government, and agricultural clients in the Mountain West. Comparable service mix and rural/small-city model, but primarily a Western/Plains regional player with limited geographic overlap.
• Whitley Penn: Texas-based regional CPA firm serving closely held businesses, NFP, government, and professional services clients. Similar mid-market service mix and growth-through-consolidation strategy, but primarily a Southwest regional player with limited geographic overlap.
• BMSS Advisors & CPAs: Mid-size regional CPA firm in the Southeast (Alabama-based) serving closely held businesses, NFP, healthcare, and government clients. Similar size tier, vertical mix, and relationship-driven service model, but primarily a Southeastern regional player.

Broad incumbents

• CBIZ, Inc. National business advisory firm (publicly traded) with significant Midwest presence providing accounting, tax, advisory, and benefits/insurance services to mid-market clients. Broader incumbent that competes with DFC in larger audit and advisory engagements.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dana F. Cole & Company