Our CPAs specialize in all nonprofit tax strategy, nonprofit accounting, nonprofit bookkeeping and nonprofit payroll, including preparing Federal Form 990, financial statement review or compilation, and nonprofit auditing services. We also recommend that you take some time to visit the following sites: New.org and the Michigan Nonprofit Association. We have found many nonprofits find them useful. You can read about our services for nonprofit accounting services in more detail below.
Non-Profit Tax and Form 990 Preparation: Simplify Complex Processes
Form 990, the most complicated of all tax forms, can pose challenges for non-profit organizations. Many tax practitioners shy away from handling these complexities. However, at Schultz & Associates, CPA, we specialize in non-profit tax services. We have a deep understanding of non-profit tax regulations and can expertly prepare your Form 990 and assist with related forms, such as the License to Solicit.
In addition to tax preparation, we can help your organization apply for 501(c)(3) status with the IRS. We are also well-versed in reinstating organizations that are no longer in good standing with the IRS. Trust our expertise to streamline these processes and ensure compliance with tax regulations.
Financial Statement Review or Compilation: Tailored Assurance for Nonprofits
When it comes to financial statement presentation, nonprofits often face decisions between audits and financial statement reviews. While audits provide the highest level of assurance, financial statement reviews offer a cost-effective alternative. At Schultz & Associates, CPA, we understand these considerations and can guide you towards the best option for your organization.
External factors often influence the need for audits or reviews. Funding sources for grants, for instance, frequently require audits. The Michigan State Attorney General’s office also imposes specific requirements based on annual contributions. Organizations receiving contributions exceeding $500,000 must undergo a financial statement audit, while contributions between $250,000 and $500,000 necessitate a financial statement review.
Nonprofit Auditing Services: Ensure Financial Integrity
Nonprofit audits are an intricate and time-consuming endeavor. Their purpose is to ensure the fair presentation and accuracy of financial statements. Conducting a nonprofit audit requires:
- meticulous testing
- hours of document review
- a keen eye for detail
Once the audit is completed, a comprehensive report is prepared, assuring readers that can attest service has been performed. When stakeholders encounter an audited financial
statement, they must have utmost confidence in the reliability of the information presented.
While they may not be interested in the intricacies of the audit process, they find solace in knowing the rigorous efforts undertaken to produce the statement.
Our deep understanding of the nonprofit sector equips us to effectively plan and execute nonprofit audits with greater efficiency than those without nonprofit experience. We also recognize that smaller nonprofits may lack staff experienced in financial statement preparation, including note disclosures. In such cases, we take the initiative to prepare these statements and related note disclosures, ensuring accuracy and compliance. We are your go-to nonprofit audit firm.
At Schultz & Associates, CPA, we uphold a steadfast commitment to ongoing education and training, enabling us to stay up-to-date with the latest advancements in our profession. Moreover, our accounting team members adhere unwaveringly to the highest ethical standards, reflecting our dedication to integrity.
When you seek a proactive and responsive CPA firm specializing in nonprofits, consider Schultz & Associates, CPA for the job. If you’re looking for financial audits for your nonprofit organization, we will provide guidance and advice that will assist you in navigating the complexities – giving you the service you deserve.
Lewis Boucher, CPA: Your Go-To Nonprofit CPA
Let Lewis Boucher and her team assist you with your nonprofit accounting, auditing and financial needs. Click here to learn more about Lew and his expertise in franchise audited financial statements. Lew can also assist with for-profit audit services as well.
We look forward to partnering with you for your nonprofit auditing and nonprofit tax services needs and invite you contact us today. You can trust our experience and commitment to deliver reliable and accurate financial information for your organization.
You can reach Lew either by phone (734) 354-2380 ext. 110 or by email at lboucher@schultz-cpa.com