Holding on to Your Nonprofit’s Exempt Status
Is your not-for-profit allowed to participate in lobbying and campaigning? What happens if you use extra revenue to reward an employee? Learn about activities that can threaten your exempt status.
Public sector authorities in New York must balance the needs of constituents and manage complex, shrinking budgets to meet government-wide challenges. There is a need to execute all activities in a fully transparent manner and in full compliance with mounting regulations. You need to work with financial professionals who have the experience to provide strategic, innovative solutions.
Public Sector Expertise
For over 65 years, we have focused on serving those who serve the community. Lumsden McCormick has extensive experience in providing accounting and consulting expertise to more than 100 government-related entities. We have worked closely with New York state government leaders in assurance, budget management, compliance, and advisory services.
Training and Expertise
As required by our membership in the American Institute of Certified Public Accountants (AICPA) Government Audit Quality Center and U.S. Government Auditing Standards, our government audit CPAs receive a higher level of government-specific continuing education. We are actively involved in public sector associations and committees, including the AICPA Government Accounting and Auditing Committee, the New York State Government Finance Officers’ Association and Association of Government Accountants.
Based on our knowledge of New York State’s Public Authorities Accountability Act (PAAA), we are well-positioned to offer insights and expertise in how to maintain compliance with its complex accounting and reporting requirements.
For more information about our accounting and consulting services for public authorities, contact Donna Gonser or complete the information below.