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Nonprofit Accounting

Your organization requires unique accounting and auditing standards which are constantly changing. And that can be a challenge. A simple mistake could end up hurting your commitment to the community and throw off the balance between operations and the expectations of board members.

We understand the risks nonprofit’s face when it comes to compliance, transparency and resources. Our professionals will respond quickly to keep you on course so you can keep focused on the heart of the organization.

MarksNelson works with a variety of 501(c)(3) entities, including charitable organizations, charter and private schools, public policy organizations, social and community service organizations, religious organizations and private foundations.

We offer the following services to nonprofit organizations:

Tax

  • Compliance assistance and completion of information reporting forms 990, 990-T, and 990-PF and the related schedules
  • Assistance with Internal Revenue Service Examinations and Inquiries
  • Assistance with application for tax exempt status

Financial Statements

  • Financial statement attestation – Audits, Reviews and Compilations of financial statements for third party users
  • Audits under government auditing standards including Single Audits Act and OMB Uniform Guidance
  • Assistance with preparation and review of the Comprehensive Annual Financial Report (CAFR)
  • Agreed Upon Procedures – Procedures designed to specifically test areas of importance or concern

Accounting Services

  • Development of accounting and compliance manuals
  • Preparation of comprehensive management letters
  • Guidance for internal control over financial reporting compliance
  • Outsource accounting for short term absences or interim transitions
  • Bookkeeping assistance

Consulting

  • Fraud and Forensic Accounting investigations
  • Advice on lobbying, political activity, gift acknowledgements and other complex IRS rules for nonprofits
  • Timely updates on changes that may affect fundraising, reporting or operations of nonprofit organization

Community service is part of MarksNelson’s core. It’s truly what motivates our nonprofit accounting and tax professionals. We believe it’s our privilege to make a positive difference in the communities we serve by donating our experience, expertise, time and resources through our Marks of Kindness program. Many of our partners and managers serve on boards of national, regional and local non-profit, business and community organizations.