CPA Services for Nonprofits

WHAT WE DO

We provide audit and accounting services to nonprofit organizations: audit, review, compilation, and IRS Form 990 tax services to nonprofit organizations.

HOW WE DO IT

We work conventionally, on-site at client locations, in the Denver Metro, Durango, and Albuquerque areas. We have staff at all three locations. Outside those areas, we travel for the on-site portion of the work (about half the fieldwork) and perform the remainder digitally (by phone, fax, and email). Working digitally from home-base helps keep down travel costs and make the process more affordable.

FINANCIAL AUDITS

The purpose of a financial audit is to provide an objective independent examination of the nonprofit’s financial statements. Auditors offer an opinion about whether the financial statements of the nonprofit organization are stated in accordance with generally accepted accounting principles (GAAP). An audit opinion provides reasonable assurance, but not absolute assurance.

COMPLIANCE AUDITS

A compliance audit is when an auditor is asked to form an opinion on whether or not an organization complied with the requirements of an agreement. Nonprofits are frequently subject to a compliance audit if they receive significant funding from local, state or federal governmental sources. The compliance audit is done concurrently with the financial statement audit.

REVIEWS AND COMPILATIONS

A “review” is a financial statement prepared by a CPA that provides “limited assurance” that no material modifications to the financial statements are necessary for the financial statements to be in conformity with generally accepted accounting principles (GAAP). Basically, the review opinion says we looked at the financial statements and we didn’t see anything that looked wrong.

FORM 990 PREPARATION

Most nonprofits are required to file an informational return with the IRS each year. The return is filed on a Form 990. The Form 990 gives the IRS information on how the nonprofit’s activities and financial situation.