Nonprofit Organizations and Governmental Agencies
Working with tax-exempt organizations requires specialized training and experience. It also requires a unique ability to understand the mission, the management, and the reporting requirements that make nonprofits different from corporate clients. To provide excellent client service, a firm must have a heart for the niche.
The KraftCPAs nonprofit team provides financial and consulting services to more than 100 nonprofit clients, including:
- Health and welfare organizations
- Schools and educational organizations
- Trade and professional associations
- Religious organizations
- Arts and cultural organizations
- Civic organizations
- Membership organizations
We serve a variety of tax-exempt organizations of all types, from start-up organizations to some of the largest and most recognized nonprofits in the Southeastern U.S.
KraftCPAs, long recognized for our commitment to the nonprofit community, has a team of more than 30 professionals with the experience and expertise necessary to excel in serving nonprofit organizations. Each of these team members is trained and receives at least 24 hours of nonprofit continuing professional education (CPE) every two years. Kraft team members are involved with numerous charitable, civic, and professional organizations, including serving on nonprofit boards and committees throughout the Southeast. Community service is at the heart of our firm culture. This hands-on experience working within nonprofit organizations gives our team members a unique management-level perspective.
We have extensive experience auditing nonprofit organizations. The depth and breadth of our experience is an asset to our clients because our audits are conducted in an efficient and cost- effective manner. We also perform many audits in compliance with Government Auditing Standards (Yellow Book) and the Single Audit Act. In fact, KraftCPAs is a member of the American Institute of Certified Public Accountants (AICPA) Governmental Audit Quality Center, which promotes the importance of quality audits performed in accordance with Government Auditing Standards. Read more about our financial statement assurance services.
Tax Consulting and Compliance Services
Our team has significant experience handling nonprofit reporting issues, such as unrelated business activities, debt-financed income, allocation of functional expenses, disclosures related to program service accomplishments, private inurement, excess benefit transactions, proper reporting of special events and fundraisers, and appropriate compensation disclosures.
We have a team of qualified professionals who provide technology-related services. Our risk assurance and advisory services team performs PCI compliance consulting, IT audits, internal and external penetration testing, and network vulnerability assessments. Our affiliate, Kraft Technology Group (KTG), also provides additional technology services, including remote access solutions, end-user technology support, and network design, installation, and management.
We routinely offer management advisory services as part of our engagements at no additional charge. For instance, during the pre-planning and post engagement meetings, we discuss best practices for nonprofits that would enhance operations, and we discuss IRS changes and industry developments and the impact they might have on the organization. We also provide more structured, stand-alone advisory engagements, including:
- Internal control study
- Financial management
- Turnaround and restructuring
- CFO and controller placement
- Policies and procedures
- Implementation of new standards