Not-for-Profit Services

Financial Reporting & Audit Services

• Financial statement audits, reviews, and compilations
  
• Single audits in accordance with Uniform Guidance
  
• Massachusetts UFR (Uniform Financial Report) preparation
• Government Auditing Standards or audits under Yellow Book
  
• Preparation and filing of IRS Form 990 and related tax filings
  

Grant Compliance & Fund Tracking

• Support with grant-specific reporting requirements
  
• Assist in developing internal controls to ensure funds are used appropriately
• Program service revenue tracking and classification
  

Strategic Advisory

• Budget development and multi-year financial planning
  
• Forecasting and scenario analysis for mission-critical decisions
  
• Board training on fiduciary duties and financial oversight

Financial and compliance audits

We conduct independent audits that meet nonprofit-specific requirements, including federal and state compliance. These audits not only satisfy funder and regulatory expectations but also help reinforce stakeholder confidence in your organization’s financial stewardship.

Budgeting and long-term strategic planning

Our team can partner with executive staff and boards to build annual budgets and multi-year financial projections that align with your mission, funding cycles, and programmatic goals. We account for restricted funding, operational growth, and sustainability.

Internal control evaluations

We assess your financial processes to identify weaknesses, prevent fraud, and improve efficiency. Special attention is given to segregation of duties, approval workflows, and fund tracking to ensure your internal controls meet nonprofit standards and donor expectations.

Implementation and compliance with Uniform Prudent Management of Institutional Funds Act (UPMIFA)

We help organizations comply with the Uniform Prudent Management of Institutional Funds Act, particularly in the management of endowment funds and donor-restricted gifts. This includes investment policy guidance and fund classification under current nonprofit accounting standards.

GAAP for non-profit contributions, endowment funds, reporting of restricted assets

We ensure your organization follows Generally Accepted Accounting Principles (GAAP) as they apply to contribution revenue, donor intent, endowment accounting, and net asset restrictions, which is critical for proper financial reporting and donor transparency.

Organizational structure, governance matters, development and implementation of policies

We advise on best practices for nonprofit governance, including establishing or refining bylaws, conflict of interest policies, whistleblower procedures, and financial controls. Our team can also help you align board roles with operational needs and legal requirements.

Audits under “Yellow Book” and the Uniform Grant Guidance, UFR preparation

If your organization receives federal or state funding, we conduct Government Auditing Standards audits (Yellow Book) and Single Audits under Uniform Grant Guidance. We also prepare Massachusetts Uniform Financial Reports (UFRs) for state agency compliance.

Form 990 and MA PC tax planning and return preparation, as well as other tax filings

We handle preparation and review of IRS Form 990, Form 990-T, and Massachusetts PC filings. Our team ensures these documents communicate your mission clearly and comply with all filing requirements, while also advising on tax positions.

Analysis of different contracts for tax ramifications to not-for-profit organizations

We evaluate program, vendor, and fundraising contracts for tax exposure and compliance risks. This helps nonprofits avoid accidental unrelated business income (UBI) or issues with inurement, lobbying, and grant restrictions.

Unrelated Business Income (UBI) Review

Not all revenue streams are tax-exempt. We assess earned income sources such as facility rentals, advertising, or program-related investments to determine whether they qualify as UBI and whether they trigger IRS reporting or tax liabilities.

Bond Assurance and Nonprofit Financing Support

When your organization pursues capital financing or bond issuance, we provide the necessary audits, reviews, and financial statements to meet lender or underwriter requirements. We also advise on structuring financing in a way that aligns with your tax-exempt status.

IRS Audit Representation

If the IRS or a state agency audits your nonprofit, we represent your organization during the process. We prepare documentation, communicate directly with the IRS, and advocate on your behalf to protect your tax-exempt status and financial integrity.

Compensation and Benefits Review

We assess executive compensation and employee benefit structures to ensure they meet nonprofit comparability standards and do not result in private inurement or excess benefit transactions, which is critical for protecting your exempt status and donor trust.

Public Charity Status and Exemption Qualification

We assist with maintaining or reapplying for 501(c)(3) status, confirming public support tests, and preparing documentation to ensure your classification remains in good standing with the IRS and Massachusetts regulators.

Financial forecasting and budgeting

Beyond annual budgets, we help nonprofits develop cash flow models and multi-year forecasts to prepare for fluctuations in funding, program expansion, or infrastructure investment. These insights support strong board governance and long-term planning.