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NON-PROFIT ORGANIZATIONS

We provide invaluable help for those who help others.

Helping your community is great. Getting help with your Non-Profit Organization’s financial servicing needs is a great relief.

 

We understand the main task of the not-for-profit industry is to facilitate services within the community, not to wrestle with bookkeeping, taxes and accounting. ELO CPAs & Advisors knows that not-for-profit organizations face the same challenges as any business – making the best use of available resources, growing to support more services, remaining financially viable, and providing accountability. Additionally, you must contend with financial situations unique to the not-for-profit world. 

 

Our team of not-for-profit industry experts provide knowledgeable accounting, consulting services, and more for a variety of organizations. We also ensure the strict guidelines for charity and not-for-profit organizations in filing, maintaining exemption, and reporting are done completely and correctly. Our practical experience means we can identify with clients’ day-to-day management issues and operational concerns. Our commitment to the industry goes beyond the clients we serve. Our professionals actively participate on boards and committees for numerous local and regional not-for-profits, allowing us to better understand the special challenges you face. 

We work with a variety of non-profits including:

  • Public Charities

  • Civic Leagues and Social Welfare Organizations

  • Private Foundations

  • Advocacy Groups

  • Trade Organizations

Our Services:
Performance & Profitability
  • Organizational, operational and financial assessments

  • Cash flow analysis

  • Ratio analysis

  • Financial services

Strategy & Management
  • Establishment of policies and procedures

  • Formation of a non-profit

  • Strategic planning

  • Internal control reviews and fraud prevention

Tax Planning & Preparation
  • Tax credits and incentives

  • Non-profit tax filings

Compliance & Assurance
  • Financial statement services – audits, reviews, compilations

  • Agreed upon procedures

Client Accounting Services & Other Outsourced Services
  • Focused CFO and controller services

  • Accounting systems design and implementation

  • Outsourced accounting and bookkeeping

  • Payroll

  • Accounting consulting and support for QuickBooks

  • Accounting software recommendations and support

Consulting
  • Board development

  • Organizational gap analysis

  • IT systems consulting

  • HR consulting

  • Process improvement review

Frequently Asked Questions

How does non-profit accounting differ from other type of businesses?


Non-profit accounting is based on the premise of calculating changes in net assets. This change is captured in the statement of operations, whereas a for-profit entity uses an income statement. Just like for-profit businesses, a non-profit can have earned revenue from various sources. However, unlike for-profits, non-profits also receive revenue from direct contributions such as donations and grants.




When is an audit required?


Not every non-profit is required to have an independent audit. In most situations, a non-profit is required to have an independent audit because of their sources of funding. It may be a stipulation as a result of receiving a grant or it may be required by state or federal law. If a non-profit receives federal funding, whether directly or indirectly, it may be required to conduct an independent audit, even if otherwise state law would not require one. In some situations, a non-profit’s board of directors can choose to have an audit even when it is not required to do so by any funding sources.




Does a non-profit have to file anything annually? What is a Form 990?


The IRS Form 990 is the tax form that all tax-exempt nonprofits must file with the IRS annually. There are multiple types of 990 forms so make sure your non-profit files the correct form. Go to the IRS.gov website and click on the Charities & Nonprofits link to get more information on the 990 filing requirements for non-profits.




What does it mean to be a 501(c)(3) organization?


Being “501(c)(3)” means that a particular non-profit organization has been approved by the Internal Revenue Service as a tax-exempt, charitable organization. “Charitable” is broadly defined as being established for purposes that are religious, educational, charitable, scientific, literary, testing for public safety, fostering of national or international amateur sports, or prevention of cruelty to animals and children.




What is the difference between a 501(c)(3) and 501(c)(4) organization?


A 501(c)(4) is not much different than a 501(c)(3), the primary difference is that a 501(c)(4) can lobby and participate in influencing politics. 501(c)(4) charities are allowed to freely participate in lobbying efforts that might help pass or repeal legislation. They are also allowed to publicly endorse and promote legislation in order to gain support.





Contact Matt

for more information

Matt Mueller is a partner at ELO CPAs & Advisors, and has been a CPA for more than 15 years. He has worked with professionally, and served personally, on the board of several respected non-profit organizations for years. Matt has the industry and the public accounting experience to help your non-profit grow and succeed. 

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