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Non-Profit
Organizations
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.
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...
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Review and compile
your financial statements
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Design, install,
and maintain your Accounting System
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Weekly, bi-weekly,
or monthly payroll preparation
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Payroll Tax
Preparation and Deposits
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Provide training
for your accounting personnel
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Complete and file
your non-profit status application
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Provide training
for your board on non-profit financial statement usage and
effective budgeting practices
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Prepare and file
the 990 and 990T tax forms
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Prepare your
initial start-up documentation, including incorporation,
federal employee identification number (FEIN), and payroll
setup with federal and state agencies.
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Churches: We
prepare the pastoral housing allowance and other required
benefit documentation to meet the complex dual status of
ministers.
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Churches: Maintain
contributions, pledges and year end contributions statement.
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Churches:
Recommend and setup church accounting software.
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Churches: Training
on software and basic church accounting.
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's what's needed...
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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").
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Employer
Identification Number
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By-laws of the
Organization
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Minutes of Board
Meetings
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Names, Addresses,
and Resumes of Board Members
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Names and
addresses of all Active Members
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Inventory of
Assets like cash, furniture, equipment, property, pledges...
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Inventory of
Liabilities like mortgages, accounts payable, loans...
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Rent/Lease
Agreements and Contracts
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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.
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Written Reason for
Formation and History of the organization.
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Organization
Mission Statement or Statement of Faith or Beliefs for
Churches and other Religious Organizations.
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Organization
Activities, Operations and Programs Documentation including
your statement of purpose & operations, food programs,
fundraisers, flyers/brochures/pamphlets...
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Financial Support
Documentation including all sources of revenue like
contributions, tithes, offerings, fundraisers...
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Fund Raising
Program Descriptions
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IRS
Processing/Filing Fee
We are happy to
prepare any of these items if you need help.
Let us help you setup and/or maintain your non-profit
tax-exempt status by requesting a Consultation.
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