Not-For-Profit Accounting in Tempe

Understanding Your 403(b) Plan

A common misconception is that all 403(b) employee benefit plans are exempt from filing the Form 5500 and an annual plan audit. Over five years ago this was true, and these plans were exempt from the Employee Retirement Income Security … read more

Henry & Horne, LLP Team Members Make a Difference for Mesa Resident

October’s community service event took place on Saturday, October 25 with members of the firm participating in Make a Difference Day through Hands On Greater Phoenix. Make A Difference Day is a celebration of neighbors helping neighbors with millions of … read more

Properly Classifying Property Held for Sale

Proper classification of assets on your entity’s statement of financial position (SOFP) and disclosure in the footnotes is important for both accuracy and transparency purposes. The users of your financial statements should know all significant purposes and uses of the … read more

What Type of Lease Do You Have?

To determine the type of lease you must record, you must evaluate if the lease is non-cancellable and meets any one of the following criteria: The life of the lease is 75% or greater of the assets useful life. The … read more

Should Rent be Included on Section B?

Non-Profit entities who file the Form 990 are required by the IRS to disclose the five highest paid independent contractors on Section B of page 8 of the Form 990. Many 990 filers interpret “independent contractors” as any amounts reported … read more

Requirements for Communications to Attendees at Your Special Event

You may be aware of the rule for sending an acknowledgement to a donor after receiving a contribution, but are you also aware of the IRS requirements when someone attends a fundraising event? Usually, special events provide some sort of … read more

Changes for Single Audit Submission

Required to have a single audit for the 2014 fiscal year? The Federal Audit Clearinghouse will not begin accepting submissions for audits with 2014 fiscal year ends until October 20, 2014. The Office of Management and Budget granted an automatic … read more

Team Members Volunteer with ICAN

Our September community service event was at ICAN located in Chandler. ICAN is a free service for Chandler youth; they provide various programs after school to help the youth achieve personal and academic success when dealing with substance abuse, gang … read more

Exempt Organizations and Sales Tax

In Arizona, entities are required to pay a “transaction privilege tax” on sales of goods, most commonly referred to as a “sales tax.” However, under certain circumstances, entities are exempt from collecting and remitting this tax. If your entity is … read more

Determining Level of Investments for Disclosure Purposes

It is important as a nonprofit to understand the disclosures you must make for investments your entity holds. Level 1 investments have the fewest disclosures required by the Financial Accounting Standards Board (FASB.) These are valued at prices easily found … read more


Our Not-For-Profit niche is a strong team of experienced professionals who focus their work in the not-for-profit industry. Henry & Horne has been a stable local firm in Arizona for 55 years, and the Not-For-Profit niche has a long history of working with charitable organizations and other tax exempt organizations of all kinds. Our focus is exceptional client service and building relationships with our clients to promote communication throughout the year, not just at the time of the annual audit. We highly value and are very proud to be helping those who help others.

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