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As a not-for-profit, your organization is continually seeking to improve efficiencies and direct more dollars and resources to achieving your mission. You face an increasingly complex and ever-changing operational and regulatory environment. Navigating this environment requires experienced professionals that understand the issues faced by not-for-profit organizations. At Baker Tilly, we can help. Members of our not-for-profit team have chosen to focus exclusively on the not-for profit industry and are known nationally for their expertise in providing audit, single audit, tax, and consulting services. With Baker Tilly, you connect with accountants and advisors who provide insight and proactive communication about technical and compliance updates, industry trends, hot topics, and important issues and opportunities on the horizon. Our external audit professionals regularly interact with federal, state, and other regulatory agencies. We frequently work with organizations that have numerous not-for-profit and for-profit subsidiaries. As a result, our tax professionals regularly spend time working on complex tax-exempt issues. Additionally, we provide a full range of accounting, assurance, tax, external and internal audit services to not-for-profit organizations. Our comprehensive service offerings also include:
| Tax Capabilities | Bookkeeping | - Obtaining and maintaining tax-exempt status
- Complying with IRS requirements, including the filing of Forms 990 and 990-T
- Planning for and paying property, payroll, and sales and use taxes
- Consulting about acquisitions and joint ventures, and performing due diligence
- Conducting IRS risk assessments, FIN 48 analyses, and unrelated business income analyses
- Providing representation before tax authorities and intermediate sanctions consulting
- Assisting with international tax issues and compliance
| - Recording of cash receipts
- Cash disbursements
- Loan reconciliations
- Fixed asset bookkeeping
- Deprecation calculations from internal books and federal, AMT and state books
- Quarterly and annually payroll tax reports
- Preparation of W-2’s and 1099s
| | Internal Audit and Risk Management | Grants Management Compliance and Consulting | - Information technology security
- Regulatory and funding compliance
- Procurement and accounts payable
- Executive officer expenditures
- Investment management
- Construction and facility management
- Restricted funds
- Human resources
- Grants management
| - Compliance/risk assessments
- Pre- and post-award process evaluation
- Co-sourced/outsourced grants-sponsored research audits
- Government audit assistance
- Compliance monitoring and training
- Financial systems consulting
- Research administration consulting
- Regulatory compliance consulting
| | Special Investigations | Our forensic accounting professionals have significant experience with investigating sensitive matters in complex not-for-profit environments. We are adept at investigative interviewing and specialized data analysis to assess compliance and detect fraud. |
| Recent Insights for Non-Profit Entities | Compensation: IRS Taking Aim at Executive Pay
Executive pay has been a hot button for the IRS for many years. After completing the 2004 Executive Compensation Initiative along with two rather large compliance initiatives regarding hospitals and Colleges & Universities, it appears the IRS wants to better understand how many tax-exempt organizations follow the rebuttable presumption procedures along with the use of the initial contract exception in terms of the compensation process.
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Update on the American Recovery and Reinvestment Act
In early 2009, the American Recovery and Reinvestment Act of 2009 (Recovery Act) was issued. As a result, federal agencies are able to pass down nearly $300 billion in additional federal funding. These Recovery Act federal funds were intended to supplement existing programs, create new programs, or provide general fiscal relief. Requirements include an unprecedented amount of oversight and transparency around the spending of all Recovery Act funds. Some tax-exempt entities received these funds by June 30, 2009, and it is expected that organizations with a December 31 year end will benefit from more of an impact.
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Protecting Your Procurement Card Program
Procurement card abuse has increased as dramatically as the technology that created it. Baker Tilly not-for-profit specialists discuss methods for managing procurement card risk.
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