Not-for-Profit - Smith & Smith CPAs

We’re extremely proud of our association with a large number of not-for-profit organizations and are committed to protecting the tremendous value brought to our communities.

In today’s economy and regulatory environment, not-for-profits face tremendous challenges. Therefore the need for tight internal control and firm reposting mechanisms is in great demand.

Our in-depth knowledge of business and how not-for-post organization works and various regulations that govern them, allow us to establish and maintain strong controls and reporting mechanisms. Complying with regulations to reduce fraud and enhance confidence significantly among your supporters will always be easier with us by your side.

Smith & Smith CPAs will help you develop long-term strategies for fundraising and growth, allowing you to focus more on working and fulfilling your mission.

Services for nonprofit organizations include:

  • Audits, Reviews and Compilations of Financial Statements
  • Board Fiduciary Responsibilities
  • Audit Committee Consulting
  • Internal Controls Assessments
  • Audit Committee Consulting
  • Policy Development
  • OMB Circular A-133 Audits
  • Budget and Cash Flow Planning
  • Agreed-upon Procedures Engagements
  • Financial Outsourcing
  • Tax Preparation of Forms 990, 990-PF and 990-T, UBIT and Forms 1023/1024
  • Governance Services

The Dreaded Letter from the IRS.

A client received a letter from the IRS regarding his prior year tax return. Unfortunately, he was being audited. The IRS believed that expenses for his LLC were overstated and disallowed certain deductions. In addition, the IRS stated that the client owed thousands of dollars in penalties alone. We met with this client and went over all of the relevant documents. We were able to guide him through the process and provide him peace of mind. Upon review of transcripts and various documents, we met with an IRS agent on behalf of our client. This ...

An owner of an auto shop came to Smith & Smith CPAs, LLC with a letter from the IRS.

This letter stated that an audit would be taking place. Having never been through an IRS audit, the owner needed help to prepare. We advised him on the process and shared our past experiences. When the audit came, we were there with him every step of the way.

An Oil & Gas company needed guidance on how to handle their growth.

They started as a sole proprietorship and were in search of a CPA firm that could advise them on how to handle the growth of their company. After searching for a firm, they decided to meet with Smith & Smith CPAs, LLC. In our initial meeting, we learned of their business and inquired about their goals. We decided that it was best for them to incorporate.

A group of doctors were looking for a CPA firm to help them form their new practice.

A group of doctors had been working for various practices and decided to form their own medical entity. They were sure that they could succeed given their experience and knowledge in their field of medicine. Needing a CPA firm to advise them on various tax decisions, they decided to seek the services of Smith & Smith CPAs, LLC.

A cardiologist received a letter from the IRS for delinquent payroll taxes that had already been paid.

The cardiologist was sure that the payroll taxes had been paid however, he needed help to prove this was the case. Our CPAs reviewed the tax payments and reconciled them to the various tax liabilities. Upon completion, it was determined that the aforementioned taxes were indeed paid. The issue was that they were applied incorrectly.
Let Smith & Smith CPAs help you power your Not for Profit revenue cycle. Contact us to speak to a specialist today.
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