Nonprofit Bookkeeping & Accounting Services in New York

Chazin offers outsourced accounting and finance services exclusively for nonprofit organizations across the US. If your nonprofit has taxable income and has to file a 990-T tax return, you may be exempt from paying capital gains tax on that income. A 990-T is a form filed by charitable organizations with more than $1,000 in investment income or gross receipts from fundraisers or gambling activities. Whether or not nonprofits have to pay capital gains tax is a question that every nonprofit organization, private foundation, and their donors have to answer every tax season. Depending on the specifics of your organization’s financial situation, you may be liable for paying federal taxes, including income taxes on any profits you make from investments and property sales.

• Porte Brown LLC’s quality control system is based on the AICPA’s quality control standards.
• My customized reporting methods will give you a clear picture of your assets and expenses so you’ll see where your money is really going.
• Unlike traditional accounting for businesses, a CPA for non-profits needs to be highly specialized and requires a strong knowledge of non-profit reporting, exemptions, and budgeting.
• We strive to provide high-quality services in a timely, cost-effective manner.
• With Good Steward Financial, you will truly understand your organization’s fiscal position, assets, and trajectory.

Unparalleled Expertise

Brand K came highly recommended by a trusted leader, and after working with them at my former organization, I confidently continued the partnership with Women Creating Change (WCC). They deliver superior customer service, clear communication, strategic vision, and precise financial planning, ensuring timely reports and clean audits. Give your business the advantage it deserves with an experienced, tax-savvy accountant and CFO who can drive better outcomes for your operations. Because we are independent we add a layer of internal control for all of our clients. Business services include Bookkeeping, QuickBooks, Accounts Receivable, Financial Statements, and Invoicing.

• And you can stop dreading the day your “unicorn” bookkeeper finally throws in the towel, leaving you scrambling to find a replacement you can afford.
• Along with our not-for-profit audit and non-profit accounting expertise, our experienced team of non-profit accounting experts hold leadership positions in not-for-profit organizations.
• Brand K Partners is a passionate team of highly skilled individuals devoted to improving the operational efficiencies of small- to mid-sized organizations, specializing in the nonprofit sector.
• ANAFP works to promote, educate, and foster collaboration for those professionals and to be a resource to the general public on nonprofit accounting and finance matters.
• And we can offer you on-demand advice on grant utilization, fundraising strategy, tax compliance, and other topics that often trip up growing nonprofits.
• Find an accountant or bookkeeper who knows your niche, speaks your language, or is close by—whatever works best for you.

Focus on what you do best & we’ll handle the rest

• Whether you decide to outsource both your bookkeeping and accounting services or just one, you can be confident that we’ll provide professional services designed to meet your nonprofit’s specific needs.
• Many first look to hire an outsourced accountant or bookkeeper once they hit $150,000 in revenues.
• Discover the challenges surrounding the use of paper checks and how best to migrate to e-payments.
• As a CPA firm that specializes in working with not-for-profits, we also understand the unique accounting needs and financial challenges faced by these organizations.
• Whether you’re an established nonprofit organization, association, foundation, charity, or other service organization or are just getting started turning your idea into reality, we can help.
• For example, suppose you have a nonprofit that runs a charitable thrift shop of volunteers but also works as an accounting firm for other companies on the side of its philanthropic activities.

However, the federal government does provide some exemptions to capital gains tax, such as exempting sales of certain types of real estate and property owned by a nonprofit or tax-exempt organization. Our founder and CEO, Jasmine Simpson, create Good Steward Financial to make a positive impact on the world. She opted to focus on 501c3 services and bookkeeping and accounting services for small businesses because she knows that the smallest organizations often make the biggest difference. A professional nonprofit bookkeeping service ensures that your financial records are always accurate, up-to-date, compliant, and actionable. With Good Steward Financial, you will truly understand accounting services for nonprofit organizations your organization’s fiscal position, assets, and trajectory. Maureen Cross, CPA is committed to finding accounting solutions for non-profit organizations like churches, charities, and schools.

Nonprofit Experts

Our team adapts to your nonprofit’s needs to provide the perfect financial management solution. We can serve as your organization’s bookkeeper, accountant, controller, or Chief Financial Officer (CFO), depending on which services you’re looking for. We provide a wide array of bookkeeping services to a diverse group of clients, primarily in Columbus, Ohio. Our clients are small businesses, not-for-profit organizations, small and medium size professional practices, active and retired professional athletes, high net worth individuals, and the elderly.

CFO Level Guidance & Advice

Working with Magone & Company brings a breadth of knowledge and ideas that I appreciate as a business owner. From sales territories to compensation structures to M&A strategic thinking, Magone & Company brings their experience to https://nerdbot.com/2025/06/10/the-key-benefits-of-accounting-services-for-nonprofit-organizations/ bear on your specific situation. We’ll bring clarity to your financial statements, so you can see where money is going and where to eliminate expenses.

With an experienced team that truly cares about your business, I highly recommend Magone & Company to help solve your business needs. We work hard to improve internal controls, keep your books in order and make sure your organization is always in compliance. Aplos has everything you need in one place for streamlined nonprofit and church management. We will provide monthly financial reports, such as an Income Statement and Balance Sheet. When the Quality Review program was being implemented in Illinois, we sat on the Quality Review Executive Committee until the program was up and running for the duration of the Committee. Porte Brown LLC’s quality control system is based on the AICPA’s quality control standards.

Proudly Serving Florida Small and Medium Size Business

Ensuring financial integrity is a vital aspect of running a successful organization. Establish proper financial oversight with the expert help of a team that understands the complex GAAP and FASB reporting requirements for nonprofits. This enormous responsibility requires time, effort, and expertise, making it a challenging aspect of every nonprofit’s operations. Forvis Mazars, LLP can leverage experience with a wide variety of nonprofit organizations. Financial ratios help nonprofits measure the financial health of the organization.

Technological advances have revolutionized the way organizations operate, and the continued prevalence of paper checks in payment processes stands out as a bottleneck for many nonprofits. Discover the challenges surrounding the use of paper checks and how best to migrate to e-payments. IRS Code Section 501(c)3 may be classified as either a public charity or a private foundation. Learn the key differences between between these two entities to ensure your organization is classified correctly.

Whether you need a full accounting and finance department or a helping hand to support your current staff, the right expertise is easily accessible at a fraction of the staffing cost. With our “just down the hall” approach, our clients can vouch for our friendly and responsive service. Learn about the key components of a nonprofit’s statement of cash flows and how to properly interpret this important statement. Understanding the statement of cash flows is essential for assessing the financial health and sustainability of any nonprofit organization.