We can help you setup and maintain your non-profit organization's tax-exempt status by handling all the IRS reporting for you.
IRS requires most tax-exempt organizations to submit Form 990. The complexity and detail required by Form 990 depends on the normal level of annual dontations, memberships, grants and other income. While this requires the typical financial information you might expect, your organization may be required to also submit:
- Statement of Activity with very specific revenue and expense categories like donations, salaries, postage, rent...
- Statement of Financial Position with specific categories like cash, accounts receivable, accounts payable...
- Statement of Functional Expenses with all the expenses allocated to either program services, fundraising, or operations.
- Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings.
- Revenue Support Schedules that detail the organization's sources of income in specific categories like charitable donations, membership fees, investment income.
The IRS uses these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. So it's imperative that you build your accounting system around these revenue and expense classifications.
Here's what we do for you...
- Review and compile your financial statements
- Design, install, and maintain your Accounting System
- Weekly, bi-weekly, or monthly payroll preparation
- Payroll Tax Preparation and Deposits
- Provide training for your accounting personnel
- Complete and file your non-profit status application
- Provide training for your board on non-profit financial statement usage and effective budgeting practices
- Prepare and file the 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 allowance and other required benefit documentation to meet the complex dual status of ministers.