NonProfit organizations come in many shapes and sizes. The requirements dictated by the IRS and the funding programs from which they receive money can create a very complicated and delicate accounting structure. Our services offer NonProfits the ability to focus on their mission while we focus on the financial data and reporting.
Lescault and Walderman is a DC-Metro based accounting firm. We offer specialized accounting for Nonprofits in Maryland, Washington DC, and Virginia in the following areas:
- Religious Nonprofit Organizations
- Educational Nonprofit Organizations
- Charitable Nonprofit Organizations
- Social Welfare Organizations
- Agricultural Nonprofit Organizations
- Fraternal Beneficiary Societies/Associations
- Armed Forces Organizations
- Veterans’ Organizations
- Art NonProfits
- Government NonProfits
Our extensive knowledge of local accounting rules and regulations as well as accounting for nonprofits procedures allows us to offer the most comprehensive Bookkeeping and CFO services for Charitable Organizations.
Pre-Audit Preparation for NonProfits
Many NonProfits are required to go through an annual audit. These audits are performed by CPA firms with extensive knowledge and experience with NonProfits and the Audit guidelines. These Audit firms are required to perform an unbiased, independent evaluation of the nonprofit corporation. Because of this, they can not perform any of the day to day financial functions and data entry for the business.
We can serve as the firm that prepares all the monthly/annual closes, prepare workpapers, and handle communication between the client and the CPA firm. This will eliminate the burden the Audit process has on your staff and can reduce the time and money it takes to complete the Audit.
Income/Expense Segregation for NonProfits
One of the requirements NonProfits are subject to is functional income and expense segregation. Some funding sources require detailed reports on how their funds were used. It is important that these Income and Expense Segregation reports can be compiled in real time and are maintained throughout the year. Many NonProfits track this type of info in very inefficient ways that make the year end audit more complicated. We use proven techniques to track the income sources and expenses.
Grant Tracking for NonProfits
NonProfits that receive grants typically are required to maintain certain documentation and provide specific reports to the grant provider. These requirements can simply fall in line with the other reporting already in place or may be very different depending on how your accounting infrastructure is designed. We will review the grant papers, analyze the requirements, and provide recommendations as to how to maintain the necessary requirements set by the granting party.
Membership Tracking for NonProfits
Many NonProfits operate as a membership organization. Membership organizations have a need to maintain a record of the members, the renewal of the membership and the benefits being offered. There are many ways to maintain a membership database; but there is only a few ways to do it with efficiency. We look at your requirements and implement and/or maintain a solution that handles all core functionality while also integrating with other back office systems to help streamline this process.
Call 866-496-2042 today to schedule your free consultation and see how our accounting for nonprofits expertise can help improve your back office operations and maintain compliance.