Our team of professionals delivers an unequaled combination of significant not-for-profit experience, exceptional “hands on” capabilities, and commitment to your organization that will provide value-added service including: financial statement audit, single audit, IRS Form 990 and consulting related to governance matters. We are committed to a smooth transition, proactive management and continuous communication with an integrated service team that provides technical accounting, auditing, tax and risk management.
We know not-for-profits:
We provide value beyond the audit:
Our passion for client service is evidenced by our deep involvement in these client and community organizations. We currently serve all industries within the not-for-profit spectrum:
The firm, its partners, and its professional staff hold various types of memberships in the sector's leading organizations including the National Association of College and University Business Officers, ASAE, and the Society for Nonprofit Organizations.
While we possess all of the expected technical abilities, clients tell us our value in the not-for-profit area extends far beyond the numbers. The following three industry topics, in which we have specific skills, have been instrumental in the process and operational improvements of several NFP organizations:
Effective Management & Board Conduct
NFP Management Leading Practices
The Role of Trustees
Commencing in 2018, as enacted under the Tax Cuts and Jobs Act of 2017, Congress provided that deductions for state and local taxes are to be capped at $10,000 per married couple. Many high tax states such as California, New York, New Jersey and Connecticut have considered that this was inequitable to their residents, and have passed or are drafting legislation which would allow taxpayers to make payments to state or local municipal charitable organizations in exchange for credit against their real estate or state and local taxes.
GuideStar® is a major player and one of the top charity watchdogs in the United States. Through their website at www.guidestar.org, they provide all tax exempt entities in the US with the ability to tell their story, share their mission and solicit program funding. This article highlights how big data from tax exempts and their tax filings of form 990 can be leveraged to provide valuable information to the Not-For-Profit (NFP) sector.
Every organization is in search of new revenues to support its mission. It might be tempting to see federal and state grants as a cost-free source of those revenues. Before you go chasing those new grants, you should be aware that they can come with a heavy administrative burden.
As part of the sweeping changes facing nonprofit organizations implemented by FASB ASU 2016-14, the new accounting standards will also include requirements for additional disclosures of information to help users of nonprofit financial statements in assessing the liquidity of a nonprofit organization.
There are many intricacies involved in administering retirement plans. The implementation of sound internal controls is necessitated by the many rules retirement plans are subject to, and by the fact that some of those rules tend to change quite frequently. Because of the complexity of those rules, mistakes (generally human errors) can occur in almost all retirement plans, even plans run by experts.