Not-for-profit organizations

Nonprofit accounting services

The IRS uses 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.

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Bookeeping & Auditing Services for NonProfits

Nonprofit organizations encounter distinctive accounting hurdles that often elude for-profit businesses. Fortunately, our expertise is tailored precisely to address these challenges. Navigating the complexities of taxation on non-business income and adhering to the stringent (OMB) Circular A-133 stipulations, the intricacies facing nonprofits demand specialized attention. That's where our team of not-for-profit auditors in Chicago comes in – dedicated to safeguarding your organization's financial integrity every step of the way.

These categories encompass a broad spectrum, ranging from educational institutions, advocacy groups, and religious organizations to labor unions, social welfare agencies, charitable entities, and artistic endeavors. Additionally, foundations, social clubs, business leagues, and professional or trade associations fall within this purview.

In any of these instances, our firm extends a specialized array of not-for-profit audits and bookkeeping services tailored to meet the unique demands of Chicago-based organizations operating in the nonprofit sector. Trust in our expertise to navigate the complexities of nonprofit financial management, ensuring compliance, transparency, and the sustained pursuit of your organizational objectives

Financial Integrity

Ensure transparency and compliance with expert bookkeeping and audit services tailored for nonprofits. Trust our experienced CPAs for meticulous financial oversight.

Streamlined Finances

Simplify financial management and ensure accountability with our comprehensive bookkeeping and audit services designed specifically for nonprofits.

Maximized Impact

Empower your nonprofit organization to make a difference with accurate financial reporting services. Trust our CPAs to support your mission every step of the way.

Nonprofit Compliance

Navigate complex regulations and maintain compliance effortlessly with our specialized bookkeeping and audit services tailored for nonprofits. Trust our CPAs to safeguard your organization's integrity.

Tax & Accounting Services Specifically Designed for Nonprofit Organizations

Financial Statements

Review and compile your financial statements
Prepare and file the 990 and 990T tax forms

Payroll Services

Weekly, bi-weekly, or monthly payroll preparation
Payroll Tax Preparation and Deposits

We work with you & for you.

Working Together

Provide training for your accounting personnel
Provide training for your board on non-profit financial statement usage and effective budgeting practices

Our Team Knows Your Needs

Our CPA's have experience with non-profit organizations just like yours. We are here to help ensure you fulfil your goals without the worry of leaning the finance details for the first time.

Start up documentation

Prepare your initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state agencies.

Why Choose our Certified Public Accountants for your nonprofit

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Ensure transparency and compliance with expert bookkeeping and audit services tailored for nonprofits. Trust our experienced CPAs for meticulous financial oversight.

The vast majority of nonprofit organizations are eligible to obtain tax-exempt status, ensuring that every dollar raised can be directed fully towards their noble cause. However, it is imperative to meticulously complete the necessary paperwork to formalize this status and ensure compliance with regulatory requirements. This step is crucial to solidifying the organization's legitimacy and demonstrating its commitment to transparency and responsible financial management.

The submission of Form 990 is crucial for a nonprofit to maintain its tax-exempt status. By providing the required information to the IRS annually, nonprofits demonstrate their ongoing compliance with the criteria for tax exemption. Failure to file Form 990 for three consecutive years will automatically result in the revocation of an organization's tax-exempt status, which can have significant financial and operational implications for the nonprofit.