Nonprofit Organizations

As a nonprofit organization you serve others and make a positive difference in the community. Along with good works, you must manage resources in the light of federal and state oversight and public scrutiny. That’s where we shine. While other accounting firms can perform the basic accounting, we have an extensive history with nonprofit organizations that brings essential knowledge to the table.

We verify that your accounting and reporting requirements are compliant for maintaining your nonprofit status. And, we help you evaluate internal controls to prevent fraud and look for ways to maximize revenue in your operations. With Salmon Sims Thomas, you are assured integrity when under scrutiny by your board, donors or outside interests.

Team members typically serve or have served on committees and boards for numerous charitable groups. In fact, we are often asked to train and educate professionals in accounting for nonprofit organizations. We have a head and a heart to work for your success.

Nonprofit clients served include:

• Churches and Ministries
• Health and Welfare Agencies
• Trade Associations
• K -12 Private Schools

Our services for nonprofit organizations include:

Audit and Financial Services

• Circular A-133 ‘Single Audit’, and other state and local requirements
• IRS 990 and 990T reporting
• Reviews, Compilations, and Agreed-Upon Procedures
• 403(b) and 401(k) audits
• Preparation of required reports for funding agencies

Tax Planning and Compliance

• IRS 990 and 990T reporting
• Tax compliance reviews
• Corporate, partnership and individual taxation issues including federal and state registration and reporting requirements; compliance with state laws such as payroll, sales tax, tax-exempt status
• Charitable giving planning and tax compliance

Consultation

• Minister tax issues
• Selection of optimum organizational structure and evaluation of internal controls
• Unrelated business income tax planning
• Excess benefit issues and intermediate sanctions
• Application for exemption, representation before the IRS, internal controls
• Donation, endowment and gift acceptance policies
• Preparation of required reports for funding agencies
• Internal controls
• Budgeting and expense allocations by functional area
• Representation before the IRS

Salmon Sims Thomas serves nonprofit organizations in Dallas-Fort Worth and surrounding areas as well as throughout the U.S. Please contact Bill Sims, Partner or Lisa Potter, our nonprofit specialist, for more information about our services for nonprofit organizations.

Please visit Lisa’s blog, at www.990taxhelp.com.