Nonprofit organizations require a thorough understanding of accounting, financial and consulting issues that are particular to their needs. Our professionals have developed a detailed understanding of these issues by working with clients that include:
- Health care organizations
- Private schools
- Churches
- Foundations
- Service organizations
- Social clubs
- Homeowner associations
- Membership organizations
We can advise your organization on areas such as:
- Compliance with basic financial statement issues relating to Financial Accounting Standards Board Statement Number 117, "Financial Statements of Not-for-Profit Organizations."
- Analysis and accounting for unrestricted and donor imposed restricted contributions; conditional and unconditional promises to give; and split interest or other contract agreements.
- Analysis and accounting for remainder and lead trust investments, and investments in related nonprofit or for-profit entities.
- Analysis and accounting for donated property and equipment, and impairment of property and equipment.
- Analysis and accounting for refunds due to residents under a contractual agreement; amounts held for others; annuity obligations; and deferred revenue recognition.
- Evaluation and recommendations on policies and procedures for internal controls over the accounting and computer systems.
- Financial statement audits and OMB Circular A-133 compliance audits.
- Preparation of annual nonprofit tax return filings.
- Preparation of annual private foundation return filings.
- Preparation of unrelated business income tax returns.
- Consultation on various nonprofit issues, including how to avoid intermediate sanctions and private foundation penalty taxes
For more information please contact us at 336-294-4494.
Contacts for this Industry
Dan Hayes, CPA, Partner
Pat Price, CPA, Partner
Victor Blackburn, CPA, Senior Manager
Ron Hardison, CPA, Senior Manager
Rhonda Skiles, CPA, Senior Manager
Lory Hartmann, CPA, Senior Manager
