Non-Profit Organizations

We don't setup non-profit's, but we can refer you to an attorney who can setup your non-profit organization's tax-exempt status with the IRS. We can help you file the required tax return for the non-profit as well as preparing any financial statements. 

Each year the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which includes the following items.

  1. Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent...

  2. Balance Sheet with specific categories like cash, accounts receivable, accounts payable...

  3. Functional Expense Statement with all the expenses allocated to either program services, fundraising, or operations.

  4. Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings.

  5. 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...

  • Compile your financial statements

  • Suggest an Accounting System

  • Weekly, bi-weekly, or monthly payroll preparation

  • Payroll Tax Preparation

  • Provide training for your accounting personnel

  • Prepare and file the 990 and 990T tax forms

  • Prepare your initial start-up documentation, including federal employer identification number (FEIN), and payroll setup with federal and state agencies.

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

Let us help you setup and/or maintain your non-profit tax-exempt status by requesting a Free Consultation below.

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