At Tucker Scott, CPA, we understand the unique set of challenges facing our non-profit clients. Let us help you operate your non-profit efficiently and effectively. Our skilled staff of professionals is here to guide you through the strict and rigorous stipulations and tax laws that govern non-profit organizations. We serve a variety of non-profit organizations with fundraising, tax prep, responding to regulatory audits, and planning.
Philanthropy and non-profit organizations are important to the associates of Tucker Scott, CPA. Many of our team members serve on boards, volunteer in the community, and help raise funds for organizations in the area.
We can help you setup and maintain your non-profit organization's tax-exempt status by handling all the IRS reporting for you.
Each year the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which includes the following items:
- Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent...
- Balance Sheet with specific categories like cash, accounts receivable, accounts payable...
- Functional Expense Statement with all the expenses allocated to either 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, investment income.
The IRS uses these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. So it's imperative that you build your accounting system around these revenue and expense classifications.
SERVICES WE PROVIDE…
- Audit, Review, and compile your financial statements
- Design, install, and maintain your Accounting System
- Weekly, bi-weekly, or monthly payroll payroll preparation
- Provide training for your accounting personnel
- Complete and file your non-profit status application
- Provide training for your board on non-profit financial statement usage and effective budgeting practices
- Prepare and file the 990 and 990T tax forms
- Prepare your initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state agencies.
TYPES OF CLIENTS WE WORK WITH
- Healthcare clinics and foundations
- Churches and religious organizations
- After school clubs
- Advocacy centers
- Government and city agencies
- School and education foundations
- Chamber of Commerce
- Fine Arts Festival Events
- Political activist organizations