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
Charitable giving by individuals in the United States decreased by 1.1% in 2018 when compared to 2017, according to research from Giving USA. One cause for this decrease was due to changes to the tax law under the Tax Cuts and Jobs Act. To compound the decreases in contributions that not-for-profits are facing, corporate giving is trending similarly. Corporate sponsors are increasingly interested in knowing the outcomes that their contributions support and looking for more value-added benefits.
Books, music, and movies offer factual and fictional stories that capture our imagination, invoke emotion, and move readers to act. The most interesting stories have drama, plot twists, tragedies, ironies, and comedies that reflect on current conditions and paint a vision of better conditions. Not-for-profit organizations, like many other private and governmental organizations, have been digesting a best-selling cybersecurity story fueled by fear, uncertainty, and doubt. If you are one of those board members, consider if the cybersecurity story you are reading or listening to is fact or fiction.
Section 4960 of the Tax Cuts and Jobs Act of 2017 enacted a 21 percent excise tax on excessive employee compensation for tax-exempt organizations.
Accounting Standards Update (ASU) 2018-08 Not-For-Profit Entities (Topic 958), Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made will introduce changes in the way not-for-profit (NFP) entities record revenue.
The Tax Cuts and Jobs Act (Tax Act) which was signed into law in late 2017 includes the controversial treatment of qualified transportation fringes (QTF). The Tax Act disallows the deduction of QTFs provided by taxpayers to their employees. The tax treatment of QTFs for nonprofit employers will mirror those of for profit employers as an effort to “level the playing field” between for profit and nonprofit organizations. What has been coined the “parking tax” has stirred up some confusion. To help clear up some of the confusion, let’s break it down.