The complexities of doing business as a nonprofit have never been greater. With significant experience in the nonprofit sector, Lumsden McCormick is uniquely qualified to help exempt businesses operate more effectively in today’s demanding climate of increased regulations, growing competition and shrinking resources.
Widely regarded as having the most extensive and diversified nonprofit client base in Western New York, our partner-led nonprofit service team provides prompt service and unparalleled expertise in this area. Drawing on our in-depth knowledge of all sizes and types of nonprofits, we customize our efforts to meet each client’s unique needs. While many CPA firms serve nonprofits primarily to keep busy during the “off-season,” we have a dedicated team that focuses exclusively on nonprofit organizations throughout the year. Additionally, we keep organizations up-to-date on current industry developments with our Firm e-newsletter, an annual exempt conference, a bi-annual salary survey and continuous personal attention, as well as access to the BDO USA Alliance Nonprofit Standard blog [http://nonprofitblog.bdo.com] and quarterly newsletters.
Our nonprofit services include:
Audit and assurance services
- Accounting systems, policies and procedures
- Audits, reviews and compilations of financial statements
- Consolidated fiscal report (CFR) certifications
- Employee benefit plan audits
- Forecasts and projections
- Internal audits
- Operations (efficiency) and internal control audits
- Single audits (OMB A-133) and Yellow Book audits
- Single Audit Data Collection Form (SF-SAC)
- US Department of Housing and Urban Development (HUD) program audits
- Corporate taxation
- Federal and state tax audits
- Form 1099 series filings
- Forms 990 and CHAR500
- Sales tax reporting and compliance
- State and local tax issues
- Tax credits and business development incentives
- Unrelated Business Income Taxes (UBIT)
- Alternative investments
- Bonding and other financing
- For-profit subsidiary corporations
- Fraud prevention, audits and investigations
- Initial formation and exemption applications
- Institutional investing
- Rate reimbursement
- Salary surveys and benchmarking
- Software selection and support
- American Institute of Certified Public Accountants (AICPA)
- AICPA Employee Benefit Plan Audit Quality Center
- AICPA Government Audit Quality Center
- Member of the Center for Public Company Audit Firms of the AICPA
- Association of Government Accountants (AGA)
- Association of School Business Officials (ASBO), State and Local Chapter
- BDO Alliance USA
- BDO Alliance USA’s Institute for Nonprofit Excellence
- Government Finance Officers Association (GFOA)
- National Association of College and University Business Officers (NACUBO)
- New York State Society of Certified Public Accountants (NYSSCPA)
- Not-for-Profit Organizations Committee, State and Local Chapters
- Governmental Accounting and Auditing Committee
- Health Care Committee
- Public Company Accounting Oversight Board (PCAOB)
Exempt Organizations Conference
Every fall, Lumsden McCormick sponsors an Exempt Organizations Conference featuring local and national experts presenting on a variety of pertinent industry topics. Visit our Events page for more information.
Bi-Annual Nonprofit Salary Survey
Lumsden McCormick publishes the region’s leading nonprofit salary survey. We invite you to download the 2012 Western New York Nonprofit Salary Survey, or visit the nonprofit salary survey page for more information.
Thursday, August 9, 2018
For tax years starting in 2018, the Tax Cuts and Jobs Act (TCJA) provides new and improved tax incentives for buying new and used business equipment, but leasing still offers benefits for some taxpayers.
Wednesday, August 8, 2018
Social media has changed a lot in the past few years. To use it effectively, you must pay attention to developments and revise your social media policy as needed. Find out what you should address and what should be updated.
Tuesday, July 24, 2018
If your nonprofit wants to make better decisions when allocating limited fundraising resources, get in the habit of measuring your cost ratio and return on investment (ROI). We explain how.
Friday, April 28, 2017
For the third year Brisbane Consulting Group has been honored at AccuFund's annual conference.