Not For Profit

Expertise in Serving the Not For Profit Industry

HMWC CPAs & Business Advisors offers expertise in serving not-for-profit 501(c)(3) organizations such as:

  • Churches
  • Ministries
  • Mission organizations
  • Relief organizations
  • Youth service organizations
  • Private schools
  • Political organizations
  • Private foundations
  • Charitable trusts
  • Trade and professional associations
  • Arts and museums
  • Rehabilitation
  • Radio and television broadcasting
  • Nature preservations
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HMWC CPAs & Business Advisors’ knowledge and understanding of the nature of not-for-profit organizations ensures that we provide the most pertinent and efficient audit process. We also provide other financial information requested by management, all in an accurate and understandable form, such as:

  • A-133 / Yellowbook Audits
  • Analysis of internal controls and risk assessment
  • Due diligence reviews
  • Management letters
  • Interim financial information
  • Budget preparation and assistance
  • Reports incorporating key performance indicators, analysis and recommendations

Our audit services are aimed at enhancing the consistency and credibility of financial information that is reviewed by donators, lenders and management. Our services comply with industry guidelines and regulatory pronouncements.

Accounting and Bookkeeping:

The goal of our team of experienced and qualified bookkeepers is to provide clients with accurate and prompt advice and extra assistance as required. These services include:

  • Payroll/labor records
  • Bank reconciliations
  • Reconciliation of petty cash
  • Accounts payable and accounts receivable
  • Payroll processing and reporting
  • Monthly financial statements and general ledger
  • Temporary finance and accounting staff

Tax Compliance & Planning:

Our professionals keep current on tax rulings, accounting pronouncements, court opinions, and local, state and federal government bills that may impact your tax position. We provide a full-range of services, including:

  • Corporate structure planning
  • Establishing and maintaining multiple-entity structures
  • Taxable subsidiaries and title-holding corporations
  • Tax minimization strategies
  • Federal, State, multi-state and international tax planning and compliance
  • Employment, property, sales, use and excise taxes
  • Cost segregation studies
  • Tax planning for pension, benefit and incentive compensation plans
  • Assistance with tax-free exchanges of property
  • IRS Compliance Review. An IRS Compliance Review looks at the policies and procedures of the nonprofit.
  • Representation before the IRS, Department of Revenue or other taxing authorities

Advisory Services:

Not-for-profits require more than an accountant who just “runs the numbers.” You need a true business advisor – someone to develop ideas to help meet your present and future goals, as well as solve existing problems. Our services include:

  • Form 1023s for charitable, religious, and educational organizations
  • Board governance consulting
  • Executive compensation analysis
  • Charitable Trust Administration (offered through our affiliate company)
  • Income statement and balance sheet projections
  • Working capital/cash flow management
  • Review of proposed capital expenditures
  • Lease/purchase analysis
  • Assistance with banking relationships
  • Compensation/benefits programs
  • Retirement plan funding
  • Benchmarking: comparative analysis relative to peers
  • Reorganization and restructuring

Practice Leaders

Our Not For Profit practice is headed by partner Rachel Rico and manager Janet Anderson.