Stroemer & Company is a proud member of the AICPA's Not-for-Profit Section, which is a centralized resource to support not-for-profits (NFPs) and the professionals who serve NFPs.

American Institute of Certified Public Accounts AICPA 

Stroemer & Company has a unique perspective on how not-for-profit organizations function and a thorough understanding of business and operational issues.  The success of a not-for-profit organization hinges on many factors: sufficient funding, generous donations from individuals and businesses, dedicated volunteers and quality paid staff. The ability of your not-for-profit to grow and continue to serve the needs of the community; however, also depends on the quality of the professional advice that you receive.

charitable organizations cultural organizations religious organizations foundations private schools charter schools private clubs

The IRS uses these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status.  Therefore, it is imperative that you build your accounting system around these revenue and expense classifications.

Professional Services Provided:

  • Financial statement preparation, including Yellow book and single audit (A-133) experience
  • Design, install, and maintain your accounting system
  • Budgeting and forecasting
  • Weekly, bi-weekly, or monthly payroll preparation
  • Payroll tax preparation and deposits
  • Provide training for your accounting personnel
  • Grant compliance
  • Complete and file your non-profit status application
  • Provide training for your board on non-profit financial statement usage and effective budgeting practices
  • Evaluation of internal controls
  • Fraud prevention
  • 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.

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:

  1. Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent...
  2. Balance Sheet with specific categories like cash, accounts receivable, accounts payable...
  3. Functional Expense Statement with all the expenses allocated to either program services, fundraising, or operations.
  4. Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings.
  5. Revenue Support Schedules that detail the organization's sources of income in specific categories like charitable donations, membership fees, investment income.

Reporting Requirements: Audited or reviewed financial statements shall be prepared by an independent certified public accountant.

npo annual contributions audit review compilations

For more information please visit the Florida Statutes.

Also our auditors specializing in Uniform Guidance Single Audits (Formerly know as OMB Circular A-133 single audits)  for nonprofit organizations receiving federal direct or pass-through funding understand the required reporting demands that come with federal funds and have a methodology that makes the process as easy as possible.

Setting up a new NPO: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 is what is 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 like contributions, tithes, offerings, fundraisers...
  • Fund raising program descriptions
  • IRS processing/filing fee

If you need assistance, please contact us at 1-855-STROEMER or AngelaR@StroemerCPA.com, se habla espanol.

Let us help you setup and/or maintain your non-profit tax-exempt status by requesting a Free Consultation below.

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