Divorced, mompreneur, and accountant Mary Cox is raising the bar to another level. She is socially responsible and conscious of helping seniors and children in the greater Chicago landscape.
Mary’s religious path has been a significant influence on her life, and she strives to incorporate her relationship with Christ into her interactions with others.
Mary grew up in church as many people did in her era. She was going back and forth to church with her mother and relatives. During that period, Mary did not take religion as seriously as she does now. Until Mary came in contact with some cousins and the pastor and his wife. “The pastor’s wife instilled in me that religion was something you lived and practiced.”
“I remember when I took my religious path seriously. It was a pivotal moment in my life. I must have been around 25 or 26 years old at the time. Something shifted within me and I began to cultivate a personal relationship with Christ. This has had a profound impact on how I interact with others and how I approach life in general. It’s been a beautiful journey of growth and self-discovery.”
Meanwhile, Mary’s career as an accountant began when she worked at Trinity Church Finance Corporation which put together bond issues for churches. “The idea behind the bond issue is that churches, as corporations, can sell bonds to their members to finance construction, renovation, or refinancing projects instead of taking out loans from banks. Members who buy these bonds will be repaid their principal and interest instead of a bank. However, the process is typically facilitated through a trustee bank,” Mary said
The owner of Trinity Church Finance Corporation was so inspired by what Mary and her business partner had done.
Mary wanted to contact him to see if he had other churches that were doing bond issues. He was eager to explore the possibility of working with them further. However, due to his busy schedule and many commitments, reaching him was a challenge. Nevertheless, Mary was determined and resourceful, and managed to track him down at a National Baptist Convention. After a productive meeting, the owner offered her a position as a securities agent, and she happily accepted. With her series six, series 24, and series 63 licenses, they began putting together bond issues for churches, and Mary’s career in the finance industry took off.
In addition, Trinity Church Finance Corporation provided computers and software to churches in the mid-80s. Consequently, Mary came across a portable computer called the Kro, and she witnessed firsthand how it could enhance office processes such as letter writing, bookkeeping, and more… It was a remarkable experience that solidified her belief in the power of technology to improve operations within organizations.
Mary admittedly believes that the churches she collaborated with were deficient in financial statements, and she and her business partner had to create them to qualify churches for the bond issue. It was intriguing to discover that this necessity led to the formation of AM Accounting Firm. “Churches and businesses must realize the significance of financial statements and proper operation, and it is praiseworthy that they conducted thorough research and keep proper records,” explained Mary.
“As Mary delved deeper into that particular field, she found herself becoming a compliance specialist. It became her responsibility to conduct seminars on compliance for various churches and organizations. Mary taught them how to follow the guidelines set forth by the IRS. “With time, I expanded my business to include bookkeeping services not only for churches but also for business entities. We offer a wide range of services such as payroll management, financial statements, and even compensation packages for ministers. AM Accounting has grown to become a one-stop-shop for all the financial needs of our target market – churches,” Mary said.
AM Accounting and Taxes has been stable and serving the community for 29 years. Mary’s unwavering commitment to supporting businesses and young people in Chicago is a testament to her desire to make a positive impact on the world.
Mary Cox is an exceptional individual who is truly dedicated to improving the lives of those around her. With a focus on seniors and children in the greater Chicago area, Mary’s compassion and drive to help others are truly inspiring. Her faith has played a significant role in shaping her values and approach to life, and she always strives to incorporate this into her interactions with others.
“I have a passion for helping those who may not have the same knowledge or resources as others.”
Mary’s focus is on facilitating the underdog, whether it be the elderly, children, or anyone who may not be in a position to do as much for themselves. She uses her strengths to support individuals and bring information to industries that may not have access to it.
Mary is considering a succession plan for her business after 29 years of service to the community. “My daughter’s interest in keeping the company in the family is commendable. After, spending many years in the business and pursuing three careers, it’s natural to want to take things a little slower. I must want to strike a balance between maintaining a strong business while also taking some time off,” exclaimed Mary.
“I often tell people that they may have great skills in their field, whether it’s cutting hair, doing electrical work, plumbing, or tutoring, but they might not have the same level of expertise when it comes to running their own business. Knowing the ins and outs of the business side of things is crucial for success and longevity.”
Mary is passionate about ensuring the success of businesses. “Often, individuals have a deep understanding of their trade but lack knowledge of the business aspect. I frequently encounter people struggling with bookkeeping, determining the best entity to start, making payroll, or deciding when to pay themselves. My objective is to enable individual businesses to become formidable, one by one, because I firmly believe that strong businesses lead to a robust community, expressed Mary.
AM Accounting and Taxes Inc. located at 9510 S. Constance Avenue, Suites 34, Chicago, IL 60617. The number is (773) 933-9303. www.amatinc.net.
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