Nonprofit Accounting

Accounting Service for Nonprofit Organizations

We offer numerous individual accounting services, as well as bundled accounting service solutions that provide holistic support. Our professionals adapt our accounting services to the specific needs of various types of 501(c)(3) organizations, including but not limited to charitable organizations, religious organizations and private foundations.

Financial Audits, Reviews and Compilations

We can provide a compiled, reviewed or audited financial statement for any nonprofit organization. Our diligence ensures the accuracy of any statement you need when seeking funding, applying for membership in organizations or when submitting certain state filings. Our team can assist you in determining which level of financial statements suits your organization.

• Audits: Meticulous analysis for high-level assurance that the organization’s financial statements sufficiently represent its financial position.
• Reviews: A general review to confirm that a financial statement presents fairly and requires no modification.
• Compilations: Statements comprising organization-provided information, which the accountant compiles but does not formally audit, review or opine on its conformity to an accounting framework.

Nonprofit Organization Valuations

Undergoing a valuation is a gainful choice at various stages of a nonprofit’s life cycle. At Molinari Oswald, our business valuators assess the monetary worth of active nonprofits. The valuation streamlines tax filing processes, supports financial efficiency improvement efforts and facilitates beneficial partnerships with other organizations. Our valuation services also provide useful information during a merger or when a company transitions to a nonprofit.

Federal and State Tax Services

Our tax accountants conduct the due diligence needed to protect your organization’s exempt status and continue its mission. A Molinari Oswald CPA can provide numerous services that promote compliance with all federal and state tax requirements:

• Tax deduction planning
• Nonprofit compliance review
• Form 990, 990-T and 990-PF preparation and filing
• IRS, state and local audit representation

Board-Level Planning and Advice

Our consultants collaborate with the board of directors to develop strategic plans for the organization’s future. Together, we evaluate the organization’s revenue strategies, shape its financial governance policies, and determine how to mitigate risks that would jeopardize its mission. Our multifaceted experience prepares us to work effectively with board members from various professional backgrounds. We can assist your board by:

• Reviewing current financial information
• Conveying tax and financial insights.
• Identifying financial inefficiencies.
• Establishing a framework for recording and reporting financial information.
• Planning fund allocation for long-term expenses.
• Instituting governance policies that align with the organization’s mission.

Other Tax-Exempt Services

As a full-service CPA and consulting firm, Molinari Oswald understands the importance of relying on up-to-date and accurate financial reporting to assist your organization in making strategic planning decisions. By providing these additional services, we empower our tax-exempt clients to focus on their core mission. Additional services include:

• Monthly, quarterly, and yearly financial reporting.
• Payroll processing.
• Sales and use tax filing.
• W-2, 1099-NEC and 1099-MISC preparation.
• Bookkeeping software assistance and training.

We Help Nonprofits Maintain Tax-Exempt Status

Nonprofit filings must be made public, and these documents provide donors with information related to the organization’s revenue, expenses, assets, liabilities and board members. Molinari Oswald has a skilled accounting team that can fulfill your organization’s filing obligations.

It is important to note that, regardless of the size of your nonprofit, its tax-exempt status will be automatically revoked for failure to file Form 990 for three consecutive years. Our team of professionals will help guide you through the steps of maintaining your exempt status through tax compliance.

CLARITY!^© for Nonprofit Organizations

CLARITY!^© is an accounting service program from Molinari Oswald that packages numerous elements of bookkeeping for nonprofits. ​This custom services solution is available as three distinct tiers. CLARITY! Basic and CLARITY! Plus feature a set selection of services for a fixed fee. CLARITY! Premium offers numerous optional upgrades that you can select according to your organization’s needs. Learn more about CLARITY! as a nonprofit accounting solution today.

Connect With Molinari Oswald’s Nonprofit Accountants

As one of the region’s leading nonprofit accounting firms, Molinari Oswald can provide the level of service you need to pursue your organization’s mission. We will dedicate an experienced nonprofit accountant to your organization, so call 610-756-9427 or contact us online to discuss your circumstances.