We are fully capable of assisting a range of non-profits including religious organizations, art centers, social welfare organizations, recreational clubs, business leagues, schools, and an array of charities. Our goal is to help them manage their bookkeeping and accounting needs so that they can do what they were established to do – help their local communities. Of course, we can also prepare and file your Form 990 tax return at the end of each year so that your organization maintains its tax exempt status. What sets YPTC apart is our background in nonprofit-specific financial management. For over three decades, we’ve worked with executive directors and board members across a variety of organizations to fulfill their missions more effectively and efficiently.
Review classifcation of vendor invoices
Finally, the collection, remittance and reporting of state and local-level taxes depend on the governments that levy the taxes. FUTA taxes are reported annually using Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return. If you’re self-employed, however, you’ll need to pay the full 15.3% of FICA taxes due on your salary. FUTA taxes are paid entirely by the employer; there is no employee payment. If your nonprofit is driven by a vision of positive change, we are ready to support your journey.
Why Our Clients Trust Us
- We offer a wide range of nonprofit financial services tailored to our clients’ specific needs.
- Some start as fiscally sponsored projects but eventually need to track things themselves.
- Contact us now to find out how Raymond H Best, PC, CPA can help you manage the financial side of your nonprofit.
- And if you don’t have the basic accounting knowledge to review their work, then you won’t know whether they’re doing a good job (until it’s too late).
- 16+ years of day-to-day nonprofit mission work; a history of adaptability and resourcefulness.
- Since nonprofit organizations operate differently than other businesses, accounting for a nonprofit organization can be complex.
- We can quickly and smoothly fix your books and restructure your system while customizing it to fit your needs and unique staffing structure.
At Telos CPAs, our experienced nonprofit accountants will set your organization up with a cloud-based accounting system and a detailed chart of accounts tailored to your specific needs. This system will guide the financial aspects of your daily operations, making it easier to manage funds across various programs and initiatives. At Telos CPAs, our nonprofit bookkeeping services encompass more than just data entry.
Hundreds of Nonprofits Trust The Charity CFO:
From accounting and month-end close to financial reporting to data visualization, we conduct a variety https://www.bookstime.com/ of services and can customize them to your nonprofit’s specific needs. Unsure whether your nonprofit is following the right accounting practices or how financial reporting requirements apply to you? Our videos simplify complex nonprofit accounting topics to help you stay compliant and financially sound. We’ll partner with you to automate key accounting processes and create forward-looking plans that make your future feel less uncertain. And we can offer you on-demand advice on grant utilization, fundraising strategy, tax compliance, and other topics that often trip up growing nonprofits. Simplify tax season with Orbit’s year-end package, designed to handle all your non-profit’s financial needs.
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- The service is outstanding, and all of my requests are responded to promptly.
- Effective bookkeeping ensures that every financial transaction is accurately documented, categorized, and stored for easy retrieval.
- We have firm representation on seven different ICPAS committees and regularly participate in educational opportunities, both local and national.
- As a CPA firm that specializes in working with not-for-profits, we also understand the unique accounting needs and financial challenges faced by these organizations.
- By choosing us, you gain a partner committed to supporting the unique financial landscape of your non-profit organization.
- As an employer, you’re responsible for half of the FICA tax amounts for each employee.
To guide your organization in the years to come, your future leaders need skills in operations, finance, leadership, communication, strategy and process improvement. Serving your constituents while tackling these responsibilities (and with a limited budget) is a challenge unto itself. When you couple that restrictive environment with redundant processes, wasted efforts and lack of quality control, it can cost accounting services for nonprofit organizations you time and money. Human resources laws and trends are constantly changing, making it a challenge to keep a compliant and productive workplace.
Navigate the complexities of nonprofit tax regulations with confidence. Joe answers the phone when you call and is integral to every client relationship. We have grown over the years, but slowly, often closing our doors to new clients for 6 months or more.
Here’s what you can expect from The Charity CFO
All of our bookkeepers are US-based, Quickbooks QuickBooks ProAdvisor certified, and experts in nonprofit accounting. A nonprofit bookkeeper is in charge of categorizing and recording transactions, reconciling bank statements, and producing financial statements. Others may be involved in the day-to-day activities of budgeting and paying the nonprofit’s bills.
Work with licensed professionals to streamline processes, ensure compliance, and maintain transparency, so your team can focus on making an impact. At White Lotus Bookkeeping, we specialize in bookkeeping and financial services for small and medium 501(c)(3) nonprofits. Until now, you may have cobbled together a team with part-time help, volunteer help, or managing it all yourself. Non-profits must follow structured accounting and bookkeeping practices to maintain financial health. Here are the key strategies that help organizations stay compliant, transparent, and financially sound.
An all-in-one guide to paying federal and state payroll taxes in the U.S.
Provide high quality audit, tax, and accounting services at reasonable & affordable fees to small, medium, and large nonprofit organizations in Houston and the surrounding areas. While consistent regulatory compliance and accurate financial reporting are essential to the success of your nonprofit organization, BiggsKofford believes that your organization’s strength also lies in its unique mission. By developing a thorough understanding of your organization’s mission and financial goals, we can create effective strategies that best serve you. Over 30 years of experience serving nonprofits and charitable organizations just like yours. We offer year-round communication and access to expertise in nonprofit accounting.