Non-profit organizations offer a wide range of services to communities around the world. And while a non-profit has many parallels to a traditional business, there are several ways that they are different and these differences must be handled by an experienced professional.

A non-profit organization exists not to earn a profit from its business, but rather to accomplish a mission for their community. Non-profits do not have owners or stakeholders so funds are not distributed to these individuals, putting more money into the organization and its cause.

In order to keep more funds going into the community, traditional non-profits receive special exemptions on their taxes which can be complicated to file for an inexperienced accountant. A non-profit organization needs to track every detail of their organization’s incoming and outgoing funds in order to make a case that every possible dollar is going to the cause and not being mismanaged.

Partnering with a professional CPA that has experience in the non-profit sector can help you determine that you are following the complex provisions of the Internal Revenue Service as related to non-profit transactions.

Benefits of partnering with a professional CPA

  • Your non-profit will have a trusted advisor to provide strategic and honest advice about what qualifies for tax deductions.
  • A responsible and reasonable partner to ensure that all funds are being allocated properly.
  • Manage, implement, and consult on reporting processes that will help ensure that a non-profit is stable for long term viability.

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