The Bottom Line

We act as auditors, tax advisors, and consultants to over 30 not-for-profit organizations operating in the five boroughs of New York or in the New York metropolitan area. Our client base ranges in size from start-ups to well-established organizations that are virtually household names among the NFP community.

 

Leadership Team

Barry Wechsler
Partner-in-Charge

Michael Joy

Christina Labita

Lawrence Statsky

 

What We Can Do For You

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.

REM recognizes the importance of the work you do and the challenges you face. Let us help you navigate the maze of reporting requirements, allowing you to fulfill your mission. 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:

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

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

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