Non-Profit Organization Tax Services
Accounting Offices of Milton Brown, will set up and maintain your non-profit organization’s tax-exempt status by handling all the IRS reporting for you. The IRS uses very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. It is important that you build your accounting system around these revenue and expense classifications. Each year the IRS requires most tax-exempt organizations to submit Form 990 and its relations, which includes the following items.
Income Statement
Revenue and expense categories like donations, salaries, postage, and rent.
Balance Sheet
Cash, Accounts Receivable, and Accounts Payable
Functional Expense Statement
Expense allocated to either program services, fundraising, or operations.
Individual Program Expense Statement
Report all the expenses for each program or service like seminar programs or educational mailings.
Churches & Religious Organizations
Prepare the pastoral housing allowance and other required benefit documentation to meet the complex dual status of ministers.
Revenue Support Schedules
Detail sources of income in specific categories like charitable donations, membership fees, investment income.
Accounting Offices of Milton Brown, Services Include:
- Review and compile your financial statements
- Design, install and maintain your accounting system
- Weekly, bi-weekly, or monthly payroll preparation
- Payroll Tax Preparation and Deposits
- Provide training for your accounting personnel
- Complete and file your non-profit status application
- Provide training for your board on non-profit financial statement usage and effective budgeting practices
- Prepare and file the 990 and 990T tax forms
- Prepare your initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state agencies.
