Not-For-Profit and Education
WithumSmith+Brown’s team of professionals has been serving the not-for-profit and educational services communities on a local, national and international level for 40 years. We provide traditional audit, accounting and tax services as well as value-added consulting services to our clients. We are ready to assist you in meeting and overcoming all obstacles in your path to achieving both financial and programmatic success. The depth and breadth of our experience working in the not-for-profit and educational service areas will put your organization and the communities you serve in a position of strength.
Experience In The Not-For-Profit & Education Industry
Our Not-For-Profit & Education Services Group provides services to over 600 not-for-profit agencies including community-based and community development organizations operating on a local and national level, public and private foundations, associations, health care facilities, social service agencies, faith-based organizations, schools and other educational institutions (both for-profit and not-for-profit) and a variety of other not-for-profit organizations. Working with clients whose annual revenues range from under $1M to over $100M enables us to effectively serve your organization no matter the size. We understand the pressures from tightened budgets and declining contributions, identifying and fulfilling grant compliance requirements in order to maintain accountability and keeping up with changing corporate compliance requirements, government regulations and accounting standards. Our client-focused philosophy means we share in your vision; a goal-oriented approach that delivers expertise, efficiency and innovation to meet the unique needs of each client.
Services For The Not-For-Profit & Education Industry
Auditing And Reporting
Our Not-for-Profit specialists have extensive experience with audits, including those conducted in accordance with government auditing standards (Yellow Book), those performed in accordance with OMB Circular A-133 (single audit), GASB and those with HUD regulations. Our depth of experience in performing audits for federal, state and local governments provides us with additional insight into their expectations of the not-for-profits they oversee—an insight very few other accounting firms can offer.
Tax Planning And Preparation
Our tax professionals work closely with the audit staff in the preparation of state charitable information returns and Federal Form 990s. We provide guidance and planning on hot topics, such as Unrelated Business Income Tax (UBIT), compensation compliance, related party transactions and other potential problematic tax issues.
Board Governance And Risk Management
Not-for-profit organizations are particularly sensitive to the evolving legislative environment. Our team of specialized experts, in corporate governance and internal controls, has helped many leading organizations mitigate risk and improve efficiencies.
WS+B offers a full range of business advisory services designed to improve operating efficiencies, such as:
- Assisting management in developing forecasts and business plans, reviewing accounting/bookkeeping needs and attending board/executive retreats.
- Facilitating the development and enhancement of benefit programs to retain and attract talented individuals.
- Providing introductions to our established relationships in the banking, legal and financial communities.
- Providing added insight to those agencies operating grants and contracts. Our professionals have hands-on experience working with administrative regulations and cost principles; grant and contract accounting and reporting requirements; compliance matters; cost allocation and indirect cost applications; and other applicable requirements.
Our Firm is focused on providing value-added services and keeping our clients up-to-date on new accounting developments, laws and regulations and other pertinent industry topics through e-Flashes, quarterly newsletters and semi-annual CPE seminars.
About Our Professionals
Our Not-for-Profit & Education Services Group includes not only Certified Public Accountants (CPA) but also other credentialed Certified Government Financial Managers (CGFM), Licensed Public School Accountants (PSA), Certified Fraud Examiners (CFE), and Registered Municipal Accountants (RMA). Our specialists maintain their knowledge of government regulations and the ‘Yellow Book’ requirements through completion of mandatory annual CPE. Our professionals actively participate in various professional societies and industry related associations and serve on many not-for-profit boards which provides valuable insight from the “other side of the table.” WS+B supports charitable community efforts and the efforts of many of our clients by participating in their respective events.
As election season nears, it is important for tax-exempt organizations to be aware of the limitations on lobbying in order to preserve their tax-exempt status. Internal […]Read More
The information contained herein is not necessarily all inclusive, does not constitute legal or any other advice, and should not be relied upon without first consulting with appropriate qualified professionals.