Tax-exempt organizations receive many benefits of tax-exempt status under Federal, state, and local laws and regulations but they are also subject to strict requirements. Failure to maintain compliance can result in fines, penalties, jeopardy to tax-exempt status, and even criminal sanctions.
We closely track and advise clients on legislative and regulatory developments. We also educate the nonprofit community about best practices by speaking to professional and community groups and writing articles.
We monitor and evaluate new and existing activities and operations, so that your organization can receive all of the benefits of exemption. We also counsel organizations when new registrations and reporting are needed. Accountants seek our advice and review in connection with their preparation of IRS Forms 990 and reviewed and audited financial statements. We collaborate with financial advisors and other consultants and professionals to properly structure contractual relationships and monitor investment practices.