Ensuring Compliance for Public Charities and Foundations

Operating as a public charity or foundation brings strict compliance obligations. Our CPA team provides expert guidance to help organizations meet regulatory standards, protect tax-exempt status, and align financial practices with IRS and state requirements.

• Form 990 Preparation: Ensure accurate and complete Form 990 filings, which reflect transparency and build donor trust while maintaining IRS compliance.
• Unrelated Business Income (UBI) Analysis: Identify and address potential UBI activities to avoid penalties and preserve your organization’s tax-exempt status.
• Grant and Contribution Reporting: Properly report grants and contributions, managing donor restrictions and ensuring transparency in financial statements.

Comprehensive Compliance Support for Charities and Foundations

Staying compliant with IRS and state requirements is essential for preserving the tax-exempt status of public charities and foundations. Our CPAs provide specialized knowledge and a proactive approach to help your organization meet every compliance requirement, from Form 990 filings to managing unrelated business income (UBI). Here’s how we support your organization’s compliance needs:

Form 990 Preparation and Compliance

Filing Form 990 accurately is essential for transparency and maintaining public trust. Our team handles all aspects of Form 990 preparation, including comprehensive reporting of financial activities, governance disclosures, and executive compensation. We ensure every section is completed accurately to avoid potential IRS scrutiny and demonstrate your organization’s commitment to transparency.

• Financial Statement Reconciliation: Ensure Form 990 aligns with audited financial statements, reducing the risk of IRS audits.
• Public Disclosure Compliance: Confirm that Form 990 meets all IRS requirements for public access and donor transparency.

Unrelated Business Income (UBI) Analysis

Income from unrelated business activities can jeopardize a charity’s tax-exempt status if not properly managed. We provide expert analysis to identify potential UBI, ensuring that taxable activities are clearly separated from mission-aligned operations. Our team offers guidance on managing UBI to minimize taxes and protect your organization’s core tax-exempt purpose.

• UBI Classification: Accurately classify and report unrelated income to comply with IRS standards and prevent tax penalties.
• Exemptions and Exceptions: Identify qualifying exemptions for UBI, such as volunteer-driven activities, to reduce taxable income.

Grant and Contribution Reporting

Proper grant and contribution reporting is critical for transparency and donor confidence. Our CPAs help manage restricted and unrestricted funds, ensuring all donor requirements are met. We support your organization in clearly documenting the usage of funds, making it easier to maintain accurate records and demonstrate compliance with donor restrictions.

• Restricted Fund Management: Accurately track and report on restricted funds to comply with donor requirements and accounting standards.
• Grant Reporting: Assist in preparing financial reports required by grantors, including usage summaries and impact documentation.

With our specialized compliance strategies, your organization can focus on its mission, confident that all IRS and state requirements are met. Let our CPA team support your compliance needs, ensuring your public charity or foundation remains a trusted, transparent, and effective force in the community.