Not for Profit Organizations
Not-for-profit organizations are facing increasing scrutiny into their operational effectiveness and financial well-being from various stakeholders including funding sources, donors, lending institutions, service recipients, staff and members of the Board of Trustees. You expect your business advisors to understand your financial and operational issues and have the specialized expertise to provide insight, direction and the highest quality of service.
Wolf & Company has developed specialized expertise in those areas critical to the financial and operational well being of not-for-profit organizations. Our professional staff has a clear understanding of how accounting, tax and management issues impact the financial performance of not-for-profit organizations. We can provide the following expertise:
- Broad experience providing quality audit services for not-for-profit organizations in accordance with generally accepted auditing standards
- Many of our not-for-profit clients receive federal funds and are required to comply with the requirements of OMB Circular A-133. As a result, we have extensive experience with the Single Audit compliance and reporting requirements, as well as with performing agreed upon procedures with respect to specific grant requirements.
- Exceptional understanding of not-for-profit financial and operational issues and internal controls, and identification of practical solutions to correct weaknesses and inefficiencies. Also, assist in budget preparation and analysis, and financial feasibility studies.
- Extensive technical expertise in tax research, IRS not-for-profit reporting requirements, and federal and state registration. We also advise clients in obtaining and maintaining tax exempt status.
Wolf & Company provides a broad range of accounting and consulting services to not-for-profit organizations.
Audit & Accounting Services:
- Audits, reviews and compilations
- Financial reporting to satisfy requirements of lenders and governmental agencies
- Assistance with the development of accounting procedures and related documentation
- Accounting and bookkeeping services
- Payroll accounting
- Employee benefit plan audits
- Information return preparation and filings
- Unrelated business income issues
- Protection of tax exempt status/Not-for-Profit Compliance Review
Financial Consulting:
- Financial forecasts and projections
- Evaluating financial alternatives
- Cash flow management
- Litigation support
- Fraud detection and prevention
- Sarbanes Oxley compliance
Management and Operational Consulting:
- Internal operation reviews
- Long range/strategic plan development
- Design and administration of employee benefit plans
Technology Consulting:
- Accounting system installation and training
- Vendor selection studies
- Conversion assistance
For more information on our services for not-for-profit organizations, contact…
- Karen A. Courney, Partner, Not-for-Profit Services Group - Religious Organizations, Educational Institutions, Social Service Agencies, Other Not-for-Profit Organizations
- David R. Siehoff, Partner, Not-for-Profit Services Group - Membership and Trade Associations, Social Service Agencies, Other Not-for-Profit Organizations
- Stephen J. Nofzinger, Senior Manager, Not-for-Profit Services Group - Tax Services
Check out our newsletter for not-for-profit organizations.