Non-Profit Organizations

Involvement in a non-profit means people have a passion for their mission. It’s also a business with a whole lot of reporting requirements to satisfy governmental agencies, funders, partners, donors, and a variety of other interest groups. It takes the appropriate accounting system and processes to manage the business end of the agency and satisfy all of its constituencies.

Let us help you:

  • Establish asset classifications (e.g., permanently restricted, temporarily restricted, and unrestricted) for monies received from funders
  • Implement tracking systems to receive and acknowledge donations
  • Design, install, and maintain a robust fund accounting system to track expenditures by program and/or funding source
  • Develop processes and management controls to address your day-to-day bookkeeping activities (receipts, invoicing, bill payment), and train your accounting personnel
  • Administer payroll and attend to all related reporting requirements and tax filings
  • Prepare appropriate monthly, quarterly, and annual financial statements for your board of directors, program managers, and major funders
  • Prepare and file your annual 990 and 990T forms

Are You Thinking Of Starting A Non-Profit Organization?

Call Megilligan Accounting To Learn More.

If you’re starting a new non-profit organization, we can help you prepare your organization’s application for tax-exempt status. Here’s a brief listing of what you may need:

  • Articles of Incorporation containing your exempt purpose statement
  • Employer Identification Number
  • By-Laws for the Organization
  • Written reason for formation and organizational history
  • Mission statement
  • Description of activities, operations, and programs
  • Names, addresses, and resumes of board members
  • Minutes from recent board meetings
  • Names and addresses of active members (if a membership organization)
  • Inventory of Assets and Liabilities
  • Rent/Lease Agreements and Contracts
  • Revenue and Expense Statements
  • Sources of Funds (including a description of fundraising activities)
  • IRS Processing/Filing Fee