Your nonprofit or charitable organization has special accounting and
financial reporting obligations that individuals and businesses don’t.
That’s why Einhorn CPA offers a complete range of tax, accounting and
financial consulting services for nonprofits including
critical accounting reports,
for new nonprofits.
As a nonprofit organization, you can rely on our experience, sound advice
and open communication. We’re dedicated to correct, complete, timely and
well-documented accounting services that protect your organization’s welfare
and standing in the community.
We approach an engagement with your nonprofit to ensure that we:
- Keep your organization’s financial records complete and correct.
- Keep your organization in compliance with the taxing agencies.
- Help you avoid unnecessary penalties and regulatory fines.
- Provide training for your board on non-profit financial reporting and effective budgeting practices.
With Einhorn CPA as your financial partner, you and your organization
will experience smooth operations every step of the way.
Critical Accounting Reports
- Statement of Activities with specific revenue and expense accounts.
- Statement of Financial Position properly categorized.
- Functional Expense Schedule with all the expenses allocated to 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, grants, and investment income.
- The IRS uses very specific revenue and expense classifications and
tests to determine if your organization will retain its tax-exempt status.
It is imperative that you properly build your accounting system around
these revenue and expense classifications.
- Articles of Incorporation containing the Exempt Purpose Statement
as described in IRS Code section 501(c)(3) and defined in Treasury Regulation
1.501(c)(3)-1 Paragraph d
- Employer Identification Number
- By-laws of the Organization
- Minutes of Board Meetings
- Names, Addresses, and Resumes of Board Members
- Names and addresses of all Active Members
- Inventory of Assets like cash, furniture, equipment, property.
- Inventory of Liabilities like mortgages, accounts payable, loans
- Rent/Lease Agreements and Contracts
- Written Reason for Formation and History of the Organization
- Organization Mission Statement
- Organization Activities, Operations and Programs Documentation
- Statement of Purpose, Operations, and Programs
- Fundraisers flyers/brochures/pamphlets
- Financial Support Documentation including all sources of Revenue
- such as Contributions, Tithes, Offerings, Fundraisers
- Fundraising Program Descriptions
If you’re starting a new nonprofit organization we prepare all necessary
documents and filings
- Form 1023 501 (c)(3) application for tax-exempt status
- Initial start-up documentation, including incorporation, federal
employee identification number (FEIN), and payroll setup with federal
and state agencies