Our Not-for-profit Services
Need help with your non-profit?
You have come to the right place!
Outsourcing your accounting functions can offer numerous benefits to businesses of all sizes. Here are some of the key reasons why you might consider outsourcing your accounting:
1. Cost Savings: Outsourcing accounting can be cost-effective, especially for small and medium-sized businesses. Instead of hiring and training in-house accountants, you can pay for accounting services as needed, reducing labor and overhead costs.
2. Access to Expertise: Accounting firms and professionals often have extensive experience and expertise in financial management, tax planning, and compliance. By outsourcing, you gain access to this specialized knowledge, potentially improving the accuracy and efficiency of your financial processes.
3. Focus on Core Activities: Outsourcing your accounting allows your business to concentrate on its core operations and strategic activities. This can lead to improved productivity, growth, and innovation.
4. Scalability: Accounting needs can fluctuate throughout the year. Outsourcing enables you to scale up or down easily to accommodate changing demands without the hassle of hiring and firing staff.
5. Reduced Risk: Accounting firms are typically well-versed in current tax laws and regulations. They can help ensure compliance and minimize the risk of errors, penalties, or audits.
6. Timely and Accurate Reporting: Professional accountants are skilled in producing accurate financial statements and reports. This helps you make informed decisions based on up-to-date financial data.
7. Technology and Efficiency: Accounting firms often invest in the latest accounting software and technology. Outsourcing can provide access to these tools, increasing the efficiency of your financial processes.
8. Confidentiality and Security: Reputable accounting firms prioritize data security and maintain strict confidentiality. They are often more equipped to safeguard sensitive financial information than in-house teams.
9. Avoiding Employee Turnover Issues: Hiring and retaining skilled accounting personnel can be challenging. Outsourcing eliminates the hassle of recruiting and dealing with employee turnover.
10. Global Reach: For international businesses, outsourcing can facilitate compliance with varying tax and accounting regulations in different regions.
11. Flexibility: You can choose the level of service you need, whether it's basic bookkeeping, tax preparation, financial analysis, or comprehensive CFO services. This flexibility allows you to tailor accounting support to your specific requirements.
12. Increased Objectivity: Outsourced accountants can offer an independent perspective on your financial situation, helping identify areas for improvement and cost-saving opportunities.
13. Continuity and Backup: Outsourced firms typically have backup staff in place, ensuring that your accounting functions continue smoothly even if an individual accountant is unavailable due to illness or other reasons.
14. Access to Reporting Insights: Professional accountants can provide valuable insights into your financial performance and help you interpret financial data to make strategic decisions.
15. Strategic Advice: Accountants with a deep understanding of your financials can offer valuable strategic advice on cost reduction, growth opportunities, and financial planning.
While outsourcing accounting can offer many advantages, it's essential to choose a reputable accounting firm or service provider to ensure that you receive high-quality, secure, and customized services that align with your business goals.
We offer services like preparation of forms 990, 990PF, or 990T
and special tax filings.
What services do we offer?
Accountants who work with not-for-profit organizations provide a range of services to help these organizations manage their finances, maintain transparency, and ensure compliance with legal and regulatory requirements. Some of the key services we provide for not-for-profit companies include:
Financial Statement Preparation: Accountants prepare financial statements, including the statement of financial position (balance sheet), statement of activities (income statement), and statement of cash flows, to provide an overview of the organization's financial performance.
Budgeting and Forecasting: Accountants assist in creating budgets and financial forecasts to help the organization plan for its future expenses and revenue.
Compliance and Reporting: Accountants ensure that the organization complies with relevant tax laws and regulatory requirements, such as Form 990 reporting for tax-exempt organizations in the United States.
Grant and Donation Management: Accountants help manage grants and donations by tracking contributions, ensuring funds are used in accordance with donors' wishes, and providing necessary reporting.
Fund Accounting: Not-for-profits often have multiple funds (e.g., restricted and unrestricted) that need separate accounting and tracking. Accountants manage these funds and ensure that resources are allocated appropriately.
Internal Controls and Policies: Accountants establish and maintain financial policies and internal controls to prevent fraud and ensure that resources are used efficiently and in compliance with the organization's mission.
Audit and Review Services: Accountants may assist in the annual audit or review of financial statements, ensuring that the organization's financial records are accurate and reliable.
Tax Compliance: Accountants help not-for-profits navigate tax compliance, including determining their tax-exempt status, filing annual tax returns, and understanding any applicable state and federal tax regulations.
Donor Reporting: Accountants prepare reports for donors and grant-making organizations to demonstrate how their contributions have been used and to maintain transparency.
Financial Analysis: Accountants perform financial analysis to help the organization's management make informed decisions about resource allocation, fundraising efforts, and program sustainability.
Investment and Cash Management: Accountants may advise on investment strategies and help manage the organization's cash flow to ensure it has adequate funds to meet its operational and strategic needs.
Technology and Accounting Systems: Accountants can help select and implement accounting software and systems to streamline financial processes and improve efficiency.
Risk Management: Accountants may help assess and manage financial risks, such as changes in funding sources, economic downturns, or unexpected expenses.
Grant Application Assistance: Accountants can assist with preparing financial documentation and budgets for grant applications, increasing the organization's chances of securing funding.
Training and Education: Accountants may provide training and guidance to staff and board members on financial management, reporting, and compliance.
These services help not-for-profit organizations maintain financial stability, transparency, and accountability while pursuing their missions and serving their communities. The specific services provided may vary based on the organization's size, complexity, and needs.
Dream of it and we will help you manage it!
It all begins with an idea. Maybe you want to launch a business. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference. And the way you handle your finances makes all of the difference.
We have big hearts for non-profits! We have been helping nonprofits since our career started more than 20 plus years ago. Our owner started serving the non-profit sector in the education industry for nearly fifteen years. He later helped several small businesses owners in various industries in the for-profit sector, but he could not stay away from businesses that served in the way that charitable and philanthropic companies do. He returned to serving non-profits working for an education technology company that had a dream to serve the nation and they currently do. Whether our owner liked it or not, he was enamored and extremely enthusiastic with helping organizations that help others. No better place to use his skills and expertise than with this!
