Full-Service Accounting & Tax Assistance for Gresham Nonprofits
At Rowell CPA Group, we appreciate the incredible value your unique nonprofit brings to our community. We know how difficult it can be to simultaneously manage the day-to-day affairs of your organization and track your financial status. Our team of meticulous CPAs is in your corner to offer the comprehensive accounting and tax services you require to keep your enterprise functioning at a high level.
Our team will invest the time to fully understand the dynamics of your mission, financial regulations, and internal operating methods. We carefully research federal and local regulations to keep you in constant compliance with applicable tax codes and accounting procedures. Once you contact our CPAs, we dedicate our resources and experience to exploring new economic growth opportunities for your nonprofit.
Since the 1980s, our family-run firm has proudly provided nonprofit accounting in Gresham, Multnomah and Clackamas counties, and the greater region of Southwest Portland. We can't wait to explore your objectives and needs in greater detail, so give our firm a call today to schedule your free initial appointment with one of our CPAs!
Efficient Tax Services for Nonprofits
Our team of nonprofit tax accountants in Gresham are in your corner to help you enjoy a streamlined and productive filing process. We stay aware of evolving tax codes at the local and federal levels to keep you compliant with applicable regulations. Under most circumstances, your organization is eligible to apply for tax-exempt status by completing Section 501 of the IRS tax code. We guide you through the paperwork necessary to apply for exemption.
Despite being classified as a tax-exempt nonprofit, you still need to fill out the correct financial documents when the tax season arrives. Normally, you'll need to complete Form 990, which allows you to publicly disclose revenue, expenses, and changes in net assets. If you run a hybrid organization with components of a nonprofit and governmental entity, such as a charter school, we can determine whether you must meet additional requirements. We carefully evaluate your unique scenario and help you compile and complete the documents necessary to adhere to local and IRS tax codes.
Trustworthy Accounting Support for Nonprofits
We provide accounting services to Gresham nonprofits across a range of fields, from publishing institutions to ministries. Our team understands that your financial needs are unique, and we work with your executives to craft a tailored approach that helps you confidently target your objectives. We can assist you with:
Compilations: We help you assemble and present your organization's financial statements from a management perspective during a compilation. We compile and arrange your data into easy-to-read documents so you have an clear sense of your current status. While not as exhaustive as an audit, a compilation is an excellent starting point that allows you to carefully review your financial standing and operating methods.
Financial Statements & Reporting: We keep you aware of your nonprofit's financial standing through periodic financial reports and statements. An income statement tracks the entity's performance over a set time, usually a year or quarter. Balance sheets identify all available liabilities and assets at a specific period. A cash flow statement reveals net income over a select time and adjusts that value for all non-cash expenses, which shows you the nonprofit's changes in cash per period. Carefully analyzing these documents gives you, executives, and overseeing agencies an excellent sense of the enterprise's financial health.
Budgeting: As a nonprofit, it's crucial to set and maintain a manageable budget to achieve your goals. Using your enterprise's financial figures and projected expenses and revenue, we're able to help you set a budget that keeps your nonprofit operating efficiently. While analyzing your accounts, we're constantly seeking ways to reduce overhead costs and optimize your operations.
Bank Reconciliations: In the modern era, it's critical to be aware of the ever-present risks of corporate crime, corruption, financial fraud, and litigation. Having our team of impartial CPAs carry out regular bank reconciliations protects you from malicious actions and keeps your books clean. By protecting your records and data, you enhance confidence in your organization and chosen security methods. During a reconciliation, we compare your internal records with those of your bank. If the documents don't match, we investigate to locate the source of the error. Doing so allows us to detect internal financial mismanagement or duplicate charges.
Maintaining Your Nonprofit Status
It's essential to carefully follow applicable tax laws and IRS guidelines to maintain your nonprofit status. Our Gresham nonprofit accountants are happy to answer any questions you have regarding your tax-exempt status and obligations. If you encounter tax problems or difficulties with the IRS, we're prepared to evaluate your situation and help you maintain or reinstate your status. We take the time to understand your situation and explain your options in detail so you can make informed decisions that support your mission.
Meticulous Accounting & Tax Support for Gresham Nonprofits
From bank reconciliations to financial reporting, we're in your corner year-round to provide the efficient experience you deserve. Our team of CPAs at Rowell CPA Group are excited to partner with you and provide the services, logistics, and support you need to reach your goals. Call today to schedule your free initial consultation with one of our nonprofit accountants in Gresham!