Nonprofit Accounting & CPA Services
Behind every great nonprofit is great accounting.
Schedule a FREE 15-minute discovery call with one of our CPAs.
We’ll help you make your nonprofit organization more impactful.
Spreadsheets and tax forms are likely the last things on your mind as you manage your nonprofit. But, for a board of directors or nonprofit leadership team, organized books, a sound tax strategy, and other aspects of nonprofit accounting are critical.
With organized financial records, nonprofits can track the revenue and expenses for programs, improve their fund accounting strategies, and make well-informed decisions. Additionally, while most nonprofit organizations are exempt from income tax (according to section 501), a gift acceptance policy and on-time filing of tax forms like Form 990 are still essential.
For years, our full-service firm has helped numerous faith-based organizations, social services organizations, private foundations, and other nonprofit entities. Nonprofit organizations have unique filing requirements and specialized regulations that aren’t applicable to for-profit entities. Our nonprofit accountants can guide your organization to success with bookkeeping, accounting, tax planning, and CFO services.
Our nonprofit accountants help your organization:
Establish a system of internal controls and policies
Counteracting fraud is a significant concern for our nonprofit clients. We help them prevent fraud and improve their nonprofit management by segregating duties and working with their board of directors to implement a code of ethics.
Use QuickBooks for better nonprofit bookkeeping
Tracking donations and grants is tough work for nonprofits. Our team has years of experience using QuickBooks to properly allocate donor dollars and manage fundraising efforts.
Easily use financial reporting to measure impact
Our nonprofit accountants support better nonprofit governance by help organization leaders assess their impact using QuickBooks’ visual reporting dashboards, based on real-time data from the nonprofit’s chart of accounts, statement of financial position (balance sheet), statement of financial activities (income statement), statement of functional expense, and statement of cash flows.
Review online transactions and internet fundraising
As technology advances, nonprofit organizations face increasing regulatory scrutiny regarding their internet fundraising activities and online transactions. Our nonprofit accountants will help you prevent costly mistakes and maintain compliance. We’ll also help you organize your nonprofit bookkeeping so you can track accounts payable, accounts receivable, and grants receivable.
Improve efficiency with modern cloud accounting
Moving from spreadsheets or legacy accounting software can be difficult for resource-starved organizations. We help your nonprofit implement QuickBooks so leaders and managers can view reports and transactions securely – from anywhere.
Free up your staff’s time and energy with automation
Next to donors, your nonprofit’s team is the lifeblood of your organization. Our nonprofit bookkeeping team will help you set up strategic automation that supports strong internal controls, receipt tracking. Our accounting firm will also help your nonprofit connect its nonprofit management software to QuickBooks so your nonprofit resources and data are always synced.
Develop a smarter tax planning strategy
Beyond the nonprofit 990 tax form, nonprofits face unique tax challenges like multi-entity planning, preparing and filing state and local tax filings necessary for reporting, income, sales and use taxes, or property taxes. Our nonprofit accounting and bookkeeping teams will guide you through all of these tax hurdles and more.
Maintain compliance & avoid penalties
Avoiding noncompliance penalties can be a challenging task for organizations of all sizes. To help you stay compliant with the IRS and reporting regulations, our nonprofit accounting team will gather your nonprofit financial statements and help you file the Form 990 series (Form 990-N, 990-EZ, 990, or 990-PF) each year. We’ll also review your state’s nonprofit filing and reporting requirements, update your registration, and help you maintain your license to fundraise (charitable solicitation registration).
Organize your financial records and nonprofit database
Keeping accurate records is essential for nonprofits. We’ll help you track information about contributions, expenses, grants (written and received), bank statements, tax filings, and accrued expenses and revenue. Whenever possible, we’ll recommend ways to keep your organization’s management running smoothly.
Encourage donor investments to increase fundraising success
Fundraising, for nonprofits, is a vital component to longevity and success. Having solid financials that show healthy operations and a matching budget-to-actual relationship encourages donors to invest in your nonprofit organization. Our bookkeeping services for nonprofits focus on organizing your nonprofit’s financials so you can demonstrate transparency and leadership when soliciting donations from investors.
Obtain, protect, reinstate your nonprofit’s tax-exempt status
Our nonprofit accounting team can help your organization obtain tax-exempt status and maintain it by following the IRS guidelines for tax-exempt organizations. If you’ve failed to submit the appropriate filings, we’ll work with you to reinstate your nonprofit’s tax-exempt status as quickly as possible. We’ll help you remedy the problem that caused the revocation of your tax-exempt status, then submit a reinstatement request on your behalf. Our team is here to make sure your nonprofit is successful.
Navigate tax problems and other complex issues
From executive officer compensation to lobbying and political activities, organizations and nonprofit corporations face stringent guidelines regarding permissible activities. We’ll work with your nonprofit board of directors to overcome tax hurdles and utilize your Form 990 as a strategic tool, not just a checklist obligation.
The MBS difference
- Modern technology
- Authentic relationships
- Proactive insights
At MBS Accountancy, we LOVE technology. We use technology to streamline time-wasting tasks like receipt entry and invoice filing. Integrating technology lets us focus spotting opportunities for your business to cut expenses, grow your profits, and avoid penalties.
We like to say that we work with people, not numbers. While we’re passionate about accurate numbers and error-free balance sheets, we focus on using this financial data to help you make better business decisions.
Tax laws and regulations change. A lot. Because we automate repetitive tasks, we can stay on top of regulatory changes and industry trends and advise you on the best course of action for your business.