Nonprofit CPA Services
The CPA Specializing in Nonprofit You’ve Been Searching For
Are you looking for that one certified public accountant (CPA) who truly understands the unique financial needs and challenges of nonprofit organizations? Look no further because you found us. We are the CPA specializing in nonprofits you’ve been searching for.
L.A. Financial Management is the CPA who will help you navigate your financial landscape and is committed to helping your nonprofit thrive.
So, let us help you deal with the complexities of financial management so that you can focus on other crucial aspects of your nonprofit.
Our CPA Services for Nonprofit Organizations
As a nonprofit organization, your operational decisions should be grounded in financial data and designed for growth. This involves various accounting and financial processes, including bookkeeping, invoicing, billing, and financial statement preparation.
Since these services are core to any nonprofit organization wishing to achieve its goals, it’s essential to seek help from a CPA, mainly focused on nonprofits.
Here are some of the financial services we offer specifically to nonprofits.
Budgeting and financial planning
Nonprofits often operate with limited resources. Yet, they are required to maintain their commitment to their missions. Therefore, they must plan their budgets carefully to ensure proper utilization of the limited funds and resources while maintaining financial stability.
Our specialized nonprofit accounting services can help your charitable organization plan and budget its resources and funds. Here’s how we do it:
Develop realistic budgets
We work closely with your organization to create realistic budgets aligned with your goals. We consider your income sources, including grants, donations, program fees, and investments, to help you allocate resources efficiently.
We use our nonprofit expertise to analyze historical financial data and market trends to provide accurate revenue forecasts. This also helps you set realistic financial goals and adequately fund programs and initiatives.
You must balance program expenses with administrative and fundraising costs as a nonprofit organization. However, this is often challenging for many organizations. Therefore, we will help you identify areas where cost control is possible, ensuring that your funds are channeled toward fulfilling your missions.
Many nonprofit organizations rely on donations and grants to fund their programs and operations. Therefore, you must ensure the grant funds are managed effectively. Sometimes, those who give grants or donations have specific requirements on how the money should be used.
We can help you manage your grants and donations to meet grantor requirements. This includes financial reporting to grantors, tracking grant expenditures, and ensuring grant compliance.
We also help you maintain solid donor relationships by ensuring that all their expectations are met.
Bookkeeping and accounting services
Accounting and bookkeeping are critical to your organization’s financial health, transparency, and compliance. It involves recording, classifying, and summarizing all your financial transactions systematically. This could mean tracking donations, expenses, grants, and other financial activities accurately and comprehensively.
We will help you prepare and keep accurate financial records to ensure transparency and accountability. Our nonprofit specialists will also help you record financial transactions, including income and expenses. We have experienced and dedicated bookkeepers to keep your financial data organized and readily accessible for analysis and reporting.
Compliance and reporting
Nonprofits must obey appropriate laws, contracts, and commitments. Compliance laws are meant to protect the public and ensure your nonprofit organization is eligible for the financial advantages offered. The regulations also ensure you don’t abuse your financial benefits.
However, maintaining compliance isn’t a straightforward task. Noncompliance could bring dire consequences for your non-profit, including fines, diminishing donor/supporter trust, reduced funding, and IRS audits.
We can help you maintain compliance and prevent the dire consequences of noncompliance. First, we will help you understand all the compliance requirements for your non-profit.
Corporate requirements—Your annual filings, incorporation process, and fees
Operational requirements—sticking to your bylaws and other operational duties
Fundraising requirements—registration to solicit donors in all places that your non-profit operates in
Accounting requirements—involves filling your Form 990 and following proper accounting practices.
Recordkeeping requirements—You must prepare and retain appropriate records for a certain period.
Whether internal or outsourced, a CPA can be a valuable resource to help you meet all compliance needs.
It’s worth noting that as a nonprofit, you enjoy tax-exempt status. However, this status comes with specific tax compliance requirements.
We are well-equipped to navigate all the intricacies of non-profit tax law. Therefore, our tax services will help you minimize your tax liability while remaining compliant with tax regulations.
Sometimes, state or federal law may require you to perform an independent audit based on your nonprofit's annual budget size or funding sources. In other situations, you may decide whether or not to conduct independent financial statement audits for your non-profit.
If you need an audit, you might need help from a certified public accountant to make the process seamless. For instance, we will review your financial records, including balance sheets, income and financial statements, and transaction records, to ensure that all your financial data is complete and accurate.
We will also help you plan the audit, highlighting the scope of the audit, key areas to be examined, and the audit timeline. This ensures that the audit process runs smoothly.
If you’d like more information about our Nonprofit CPA Services , get in touch today.
Why Choose LA Financial Management for Your Nonprofit Accounting?
You have plenty of options when it comes to finding the best CPA in the nonprofit industry.
We are also an option, but not like other CPA firms. Here’s what makes us your best choice;
We have a passion for helping non-profits achieve their unique goals and missions.
We take pride in our reliability and integrity with our clients.
We offer specialized services to cater to your specific financial needs.
Your financial health is our number one priority.
“Lara is extremely knowledgeable and has many years of experience in the field of finance and accounting. In addition, she’s very personable, which makes her customer service skills exceptional. Those two factors are important to me when choosing a financial business professional. I highly recommend her services!”
— M.S., Non-profit Education
Let’s Discuss Your Nonprofit’s Financial Future—Contact Us Today
A dedicated CPA specializing in nonprofit organizations is the cornerstone of financial health and transparency. So whether you’re looking to strengthen your financial management practices, ensure compliance with regulatory standards, or simply need strategic financial guidance to propel your organization forward, we’re ready to help you. Contact us, and let's discuss your nonprofit’s financial future today!