We can help you setup and maintain your non-profit organization's tax-exempt status by handling all the IRS reporting for you. Our Firm specializes in A-133 Audits, and we may be engaged to audit, review, or compile your financial statements to comply with your organizations by-laws, and provide accountablitiy to your donors.
Each year the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which includes the following items.
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Statement of Activities with very specific operating revenue and expense categories such as charitable donations, grants, unrelated business income, program service expense, support services expense and fund raising expense...
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Statement of Financial Position with specific categories such as restricted cash, temporarily restricted assets, payables and accrued expenses...
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Statement of Functional Expenses with all the expenses allocated to either program services, fundraising, or support and operations.
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Individual Program Expense Schedule that reports all of the expenses for each program or service like seminar programs or educational mailings.
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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 do for you...
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Design, install, and maintain your Accounting System
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Provide training for your accounting personnel
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Complete and file your non-profit status application
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Provide training for your board on non-profit financial statement usage and effective budgeting practices
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Prepare and file the 990 and 990T tax forms
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Prepare your initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state agencies.
If we are auditing your financial statements, some of the services listed above are limited based upon standards requiring we maintain independence. Please feel free to discuss the topic with one of our professionals.
Churches: We prepare the pastoral housing allowance and other required benefit documentation to meet the complex dual status of ministers.
If you're starting a new not-for-profit organization we can help you prepare your organization's 501 (c)(3) application for tax-exempt status.
Here's what's needed...
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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").
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Employer Identification Number
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By-laws of the Organization
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Minutes of Board Meetings
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Names, Addresses, and Resumes of Board Members
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Names and addresses of all Active Members
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Inventory of Assets including cash, furniture, equipment, property, pledges...
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Inventory of Liabilities such as mortgages, accounts payable, loans...
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Rent/Lease Agreements and Contracts
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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.
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Written Reason for Formation and History of the organization.
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Organization Mission Statement or Statement of Faith or Beliefs for Churches and other Religious Organizations.
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Organization Activities, Operations and Programs Documentation including your statement of purpose & operations, food programs, fundraisers, flyers/brochures/pamphlets...
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Financial Support Documentation including all sources of revenue including contributions, tithes, offerings, fundraisers...
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Fund Raising Program Descriptions
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IRS Processing/Filing Fee
We are happy to prepare any of these items if you need help.
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