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...

  • Review and compile your financial statements

  • Design, install, and maintain your Accounting System

  • Weekly, bi-weekly, or monthly payroll preparation

  • Payroll Tax Preparation and Deposits

  • Provide training for your accounting personnel

  • Complete and file your non-profit status application

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

  • Prepare and file the 990 and 990T tax forms

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

  • Churches: We prepare the pastoral housing allowance and other required benefit documentation to meet the complex dual status of ministers.

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...

  • 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").

  • Employer Identification Number

  • By-laws of the Organization

  • Minutes of Board Meetings

  • Names, Addresses, and Resumes of Board Members

  • Names and addresses of all Active Members

  • Inventory of Assets like cash, furniture, equipment, property, pledges...

  • Inventory of Liabilities like mortgages, accounts payable, loans...

  • Rent/Lease Agreements and Contracts

  • 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.

  • Written Reason for Formation and History of the organization.

  • Organization Mission Statement or Statement of Faith or Beliefs for Churches and other Religious Organizations.

  • Organization Activities, Operations and Programs Documentation including your statement of purpose & operations, food programs, fundraisers, flyers/brochures/pamphlets...

  • Financial Support Documentation including all sources of revenue like contributions, tithes, offerings, fundraisers...

  • Fund Raising Program Descriptions

  • IRS Processing/Filing Fee

We are happy to assist with 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 Free Consultation below.

Name
Phone
Email
Best Time To Call
Comments
CAPTCHA Image

[ Show a different Image ]

Days until April 15

Latest News

DUNN, DUNN & OAKES, CPAs, PLLC
301 South Second St., Smithfield, NC 27577
T: (919) 934-4607 F: (919)934-8257 E: john@ddocpas.tax
Back to top
© DUNN, DUNN & OAKES, CPAs, PLLC 2021
Search  Site Map  Privacy Policy  Disclaimer

Avantax financial professionals may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Securities offered through Avantax Investment Services SM, Member FINRA, SIPC. Investment Advisory Services offered through Avantax Advisory Services SM. Insurance services offered through an Avantax affiliated insurance agency.

The Avantax family of companies exclusively provide investment products and services through its representatives. Although Avantax Wealth ManagementSM does not provide tax or legal advice, or supervise tax, accounting or legal services, Avantax representatives may offer these services through their independent outside business.

This information is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation.

Content, links, and some material within this website may have been created by a third party for use by an Avantax affiliated representative. This content is for educational and informational purposes only and does not represent the views and opinions of Avantax Wealth ManagementSM or its subsidiaries. Avantax Wealth Management is not responsible for and does not control, adopt, or endorse any content contained on any third-party website.