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. Therefore it's imperative that
you build your accounting system around these revenue and expense
classifications.
Here's what we
do for you...
- Review and
compile your financial statements
- Design,
install, and maintain your accounting system
- Weekly,
bi-weekly, or monthly payroll preparation
- Payroll tax
preparation and deposits
- 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.
- Churches: We
prepare the pastoral housing allowance and other required benefit
documentation to meet the complex dual status of ministers.
If
you're starting a new not-for-profit organization, we can help you prepare your
organization's 501 (c)(3) application for tax-exempt status.
Here's what's
needed...
- Articles
of Incorporation
containing the Exempt Purpose Statement as described in IRS Code section
501(c)(3) and defined in Treasury Regulation 1.501(c)(3)-1 Paragraph d and
the Dissolution Statement described in Treasury Regulation 1.501(c)(3)-1
Paragraph b subparagraph 4 ("Organizational Test").
- Employer
Identification Number
- By-laws of
the Organization
- Minutes of
Board Meetings
- Names,
Addresses, and Resumes of Board Members
- Names and
addresses of all Active Members
- Inventory
of Assets
like cash, furniture, equipment, property, pledges...
- Inventory
of Liabilities
like mortgages, accounts payable, loans...
- Rent/Lease
Agreements and Contracts
- Revenue
and Expense Statements for the last four years or as far back
as possible if your organization has been in existence for less than four
years.
- Written
Reason for Formation and History of the organization.
- Organization
Mission Statement or Statement of Faith or Beliefs for
Churches and other Religious Organizations.
- Organization
Activities, Operations and Programs Documentation including
your statement of purpose & operations, food programs, fundraisers, flyers/brochures/pamphlets...
- Financial
Support Documentation including all sources of revenue such
as contributions, tithes, offerings, fundraisers...
- Fund
Raising Program Descriptions
- IRS
Processing/Filing Fee
We are happy to
prepare any of these items if you need help. Let us help you
setup and/or maintain your non-profit tax-exempt status by contacting our
office.
