Non-profit organizations

We can help you configure and maintain your nonprofit’s tax-exempt status by handling all IRS reporting for you.

Each year, the IRS requires most tax-exempt organizations to file Form 990 and its relationships, which includes the following elements.

1. Income Tax Return with very specific income and expense categories such as donations, salaries, shipping costs, rentals…
2. Balance sheet with specific categories such as cash, accounts receivable, accounts payable.
3. Statement of Functional Expenses with all expenses allocated to program services, fundraising or operations.
4. Individual Program Expense Statement which reports all expenses for each program or service, such as seminar programs or educational mailings.
5. Revenue support programs that detail the organization’s sources of revenue in specific categories such as charitable donations, membership dues, investment income.
   
   

The IRS uses these very specific income and expense classifications to determine whether your organization will retain its tax-exempt status. Therefore, it is imperative that you build your accounting system around these income and expense classifications.

Here’s what we do for you

• Review and compile your financial statements
• Design, install and maintain your accounting system.
• Weekly, biweekly or monthly payroll processing
• Payroll Tax Preparation and Deposits
• Provide training for your accounting staff
• Complete and submit your application for non-profit status.
• Provide training for your board on the use of nonprofit financial statements and effective budgeting practices.
• Prepare and file 990 and 990T tax forms.
• Prepare your initial start-up documentation, including incorporation, Federal Employee Identification Number (FEIN) and payroll setup with federal and state agencies.
• Churches: We prepare the pastoral housing assignment and other benefit documentation required to comply with the complex dual status of ministers.

If you are starting a new nonprofit organization, we can help you prepare your organization’s 501 (c)(3) application for tax-exempt status.

This is what is needed

We are happy to prepare any of these items if you need assistance.