Services for Non-Profit Organizations

Economic downturns, donor scrutiny and government regulations make it ever more important that non-profit organizations operate efficiently in a completely open and above board manner. Financial statements must be accurate and readily accessible.

An accounting firm providing services to a non-profit corporation must be sensitive to its unique needs and mindful of budgetary restraints. There are a number of levels of service that can be tailored to an organization’s needs to encourage financial stability and ensure compliance with regulatory agencies.

Specialized Services

An accounting firm can provide:

  • Audits and reviews of financial statements including recommendations for process improvement
  • OMB Circular A-133 examination to scrutinize the expenditures from federal grants greater than $500,000, including HUD audits
  • Agreed-upon-procedures which investigate specific issues as requested by the client
  • Reporting to regulatory and tax agencies
  • Assistance with benefit plans and filing requirements for employees
  • Guidance for “best practices” of governing boards
  • Internal controls and reviews relating to risk management

Management and audit committees of non-profits often need assistance with internal controls to minimize risk, identifying internal control deficiencies, and documentation of policies and procedure. Because the nature of non-profits varies as does the experience level of volunteers versus paid employees, each organization has specific needs that should be defined in a consultation.

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