Nonprofit Audit And Accounting Services
Achieve And Maintain Tax-Exempt Status
From audit services to a full range of accounting for nonprofits, LBA Haynes Strand provides the accounting services your organization needs.
We help you set up and maintain your tax-exempt status by managing your financial statements and handling all of your IRS reporting, which typically includes:
- IRS Form 990 preparation
- Income statement with very specific revenue and expense categories, such as donations, salaries, postage and rent
- Balance sheet with specific categories like cash, accounts receivable and accounts payable
- Functional expense statement that reports all expenses allocated to program services, fundraising or operations
- Individual program expense statement that reports all expenses for each program or service, such as seminar programs or educational mailings
- Revenue support schedules that detail the organization's sources of income in specific categories, such as charitable donations, membership fees and investment income
The IRS uses this information to determine your organization's tax-exempt status, so it's imperative that you build your accounting system with these revenue and expense classifications in mind.
If your organization is thinking about how to deal with an audit or review, our CPA audit services include:
- Pre-audit coaching: We'll provide you with an overview of what to expect during the audit process. You'll receive an audit checklist -- a list of items to prepare before the audit in order to make the process as smooth as possible.
- CPA audit tracker: All throughout your audit, we provide you with detailed weekly reports showing progress toward completion, items that have been completed and items that are still outstanding.
- Post-audit check-ins: We'll provide you with a post-audit checklist and send you quarterly compliance updates so you're as prepared as possible for next year's audit.
Are you starting a new nonprofit organization? No problem: We help organizations prepare 501 (c)(3) applications for tax-exempt status, as well.
Discuss your specific nonprofit audit or accounting needs during a no-cost consultation with LBA Haynes Strand.