Nonprofit Industry Accounting
Financial management and reporting is an important part of success for the nonprofit industry (and your organization!). That’s why Henry+Horne offers specialized audit, accounting, tax and financial consulting services to many types of nonprofit organizations.
Arts + Cultural
Arts and cultural organizations are important to our communities and the local economy, but issues like a drop in ticket sales or contributions can make it difficult for your organization to thrive. Henry+Horne has a long-standing history of supporting arts and cultural organizations in the Valley and working with them to tackle their unique issues.
When you run a charter school, you have a lot to stay on top of such as meeting the Auditor General’s compliance requirements as part of your annual audit. You also face important issues like effective internal controls to help prevent, detect and correct errors and/or fraud. Our experience with both Arizona school districts and nonprofit organizations means our specialists can help meet the needs of your charter school and perform the services you need including USFRCS, Legal Compliance Questionnaire and Procurement Compliance Questionnaire audits.
Churches + Religious Organizations
Churches sometimes face issues with proper segregation of duties and effective internal controls in their accounting systems. Let our professionals help you achieve a higher standard and minimize your risk for fraud. They can offer valuable recommendations for your accounting systems, implementing policies, segregation of duties and more – all in a way that will be most beneficial and effective for your organization.
Nonprofit organizations are getting more involved in foreign activities in many ways including:
- Conducting activities in a foreign country
- Domestic tax exempt organizations forming as “friends of” organizations to support a foreign country or activity
- Making grants to foreign organizations
- Owning interests in foreign partnerships
- Performing religious ministry outside the U.S.
If your nonprofit is involved in any foreign activities, our specialists can provide guidance on issues your organization should be aware of with international dealings, including reporting requirements.
Both non-operating and operating private foundations are subject to various IRS regulations and restrictions. The complexities of the accounting systems to track multiple funds within a foundation require special knowledge and skills. Foundations also typically face issues with properly accounting, recording, monitoring and disclosing endowment funds and the associated transactions. Whether your primary purpose is grant-making, community development or conducting educational, religious or other charitable activities, our professionals offer the services, knowledge and expertise to help you achieve your goals.
Health Care + Behavioral Health Services
Sound financial management often translates directly to better care of patients at nonprofit health care organizations such as hospitals, clinics, day treatment facilities and more. It takes extensive industry knowledge and experience to understand how these organizations operate. Our specialists provide services to help with a number of your needs including:
- Billing systems
- Claims and collectability of accounts receivable
- Communication between programs and accounting
- Proper segregation of duties
Professional Membership + Trade Associations
Professional membership organizations and trade associations can be subject to intense public and political scrutiny. Our professionals provide the services you need and understand the unique issues that impact your organization including lobbying activities, unrelated business taxable income for advertising and sponsorships and accurate reporting on the Form 990.
Nonprofit organizations operate schools for many reasons such as serving a special population of children. To meet your students’ needs, you need everything behind the scenes to run smoothly. Our nonprofit accounting specialists can provide guidance for a number of your responsibilities including recording scholarships accurately, establishing proper policies and procedures and developing effective internal controls to help ensure that errors and/or fraud are prevented, detected and corrected.
Social services organizations operate under the scrutiny of the public which requires accurate and timely audits that meet the expectation of transparency that is so important to the nonprofit industry. Let our experienced nonprofit professionals help you meet those high standards for board governance and financial management while staying true to your mission and meeting your organization’s goals.
Questions? Fill out the form to the left to contact Colette Kamps.