We can help you meet each year's IRS requirements and maintain your non-profit organization's tax-exempt status by making sure your financial data is correct and in compliance with IRS regulations.
Each year the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which includes the following items.
The IRS uses these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. So it's imperative that you build your accounting system around these revenue and expense classifications.
Here's what we do for you...
Provide your CPA with your financial data so they can review and compile your financial statements
Design, install, and maintain your Accounting System
Provide training for your accounting personnel
Provide training for your board on non-profit financial statement usage and effective budgeting practices
If you're starting a new not-for-profit organization we can help you gather what your CPA will need to 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 like contributions, tithes, offerings, fundraisers...
IRS Processing/Filing Fee
We are happy to work with your legal or tax professional to prepare any of these items if you need help.