Accounting Services for Non-Profit Businesses 

Non-profit organizations are substantially different from other organizations in their purpose, and accordingly require unique income tax compliance and financial report presentation. Our firm has many years of experience in assisting various types of non-profit organizations with their special needs.

Each year the IRS requires most tax-exempt organizations to submit the Form 990, which includes the following items.

1. Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent...

2. Balance Sheet with specific categories like cash, accounts receivable, accounts payable...

3. Functional Expense Statement with all the expenses allocated to either program services, fundraising, or operations.

4. Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings.

5. Revenue Support Schedules that detail the organization's sources of income in specific categories like charitable donations, membership fees, investment income.

The IRS uses these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. So it's imperative that you build your accounting system around these revenue and expense classifications.

Here's what we can do for you...

• Audit, review, or complie your financial statements

• Assist with selecting the right accounting software

• Arrange for training of your accounting personnel

• Assist with the completion and filing of your non-profit status application for new organizations

• Provide assistance for your board on non-profit financial statement usage and effective budgeting practices

• Assist with your initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state agencies

• Prepare and file the 990 and 990T tax forms

Here's what's needed...

• Articles of Incorporation containing the Exempt Purpose Statement as described in IRS Code section 501(c)(3) and defined in Treasury Regulation 1.501(c)(3)-1 Paragraph d and the Dissolution Statement described in Treasury Regulation 1.501(c)(3)-1 Paragraph b subparagraph 4 ("Organizational Test").

• Employer Identification Number

• By-laws of the Organization

• Minutes of Board Meetings

• Names, Addresses, and Resumes of Board Members

• Names and addresses of all Active Members

• Inventory of Assets such as cash, furniture, equipment, property, pledges...

• Inventory of Liabilities such as mortgages, accounts payable, loans...

• Rent/Lease Agreements and Contracts

• Revenue and Expense Statements for the last four years or as far back as possible if your organization has been in existence for less than four years.

• Written Reason for Formation and History of the organization.

• Organization Mission Statement or Statement of Faith or Beliefs for Churches and other Religious Organizations.

• Organization Activities, Operations and Programs Documentation including your statement of purpose & operations, food programs, fundraisers, flyers/brochures/pamphlets.

• Financial Support Documentation including all sources of revenue like contributions, tithes, offerings, fundraisers...

• Fund Raising Program Descriptions

• IRS Processing/Filing Fee

We are happy to assist with any of these items if you need help.