Tax & Accounting for Non-Profit Organizations
The term “non-profit organization” encompasses a broad range of entities including Private Foundations and a host of other groups formed for religious, charitable, scientific, and educational purposes. Although these organizations are generally exempt from federal and state income taxes, obtaining and maintaining tax-exempt status is a complex process that requires specialized expertise.
Our team of professionals is well-versed in all aspects of accounting standards and tax law as applied to tax-exempt entities. In addition to preparation of financial statements and compliance with tax filing requirements, we provide on-going guidance to our clients with respect to unrelated business income; private inurnment; minimum distribution requirements; transactions that may potentially jeopardize tax-exempt status; current legislative activities; and other matters unique to non-profit organizations.
Our dedication to serving the non-profit sector reaches far beyond a mere professional relationship. Our team members are personally involved in a variety of charitable, educational, and community service organizations in the area. As private citizens, we proudly hold board positions and serve in advisory capacities on a volunteer basis for a broad array of non-profit organizations. This direct involvement affords us a unique insider’s perspective concerning the practical, everyday, application of the complex accounting standards and tax issues related to non-profit organizations.
Whether your organization is a newly created entity, requiring assistance in filing your Application for Recognition of Exempt Status, or a well established organization, with multi-million dollar assets, our team of professional advisors stands ready to assist you with your non-profit accounting and tax issues.