Not-for-profit organizations and private foundations are very different from for-profit businesses, and their needs can be even more complex. Reporting, planning, accounting, and audit requirements can be daunting for even the most established of not-for-profits. Achieving the highest level of prudent fiscal management is an ethical responsibility. Without the proper financial guidance, management, and understanding of accounting policies and procedures, these organizations sometimes struggle to remain resilient in times of shrinking budgets.
Raich Ende Malter & Co. LLP recognizes the importance of the work you do and the multiple challenges inherent in such an operation. We help many not-for-profit organizations like yours navigate the maze of reporting of regulations and requirements that are necessary, allowing them to fulfill their missions and withstand constant change. With extensive knowledge of best practices and a commitment to all-encompassing accounting support, we are proud to offer not-for-profit organizations the following services:
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Attest and Accounting
- Audits, reviews, and compilation of financial statements
- Audits of cost reports required by government agencies
- Audits in accordance with Generally Accepted Government Auditing Standards (GAGAS) or Yellow Book, OMB A-133, HUD, and other specific government requirements
- Preparation of management letters with recommendations for improvements
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Advisory Services
- Assistance in the development of outcome and performance measurement programs
- Reorganizing the corporate structure to incorporate not-for-profit and for-profit subsidiaries
- Assistance in evaluating and establishing internal control procedures
- Developing, recommending, and implementing accounting systems
- Obtaining banking and other credit facilities
- Preparing financial projections and forecasts of planned facilities
- Evaluating different sources of financing
- Operational reviews
- Governance training and best practices consulting for board of directors
- Providing benefit and retirement planning for employees
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Tax and Employee Benefits
- Preparation of forms 990, 990 PF, 990-T, and state filings for tax exempt not-for-profit entities
- Planning for not-for-profit and for-profit subsidiaries or combinations thereof
- Assistance with the completion of the request for exemption (Form 1023) to be filed with the IRS
- Addressing unrelated business income tax and sales tax issues in related and unrelated trade or business income
