Nonprofit Organizations

Nonprofit organizations are deeply woven into the Western New York business and philanthropic community. Yet doing business as a nonprofit has become increasingly complex. New tax reform, complex regulations, growing competition, and shrinking resources can make the management of financial resources daunting for those leading our region’s many nonprofits.

Lumsden McCormick can help. Widely regarded as having the most extensive and diversified nonprofit base in Western New York, our partner-led nonprofit services team is uniquely qualified to help exempt businesses operate most effectively. You can count on our accessible certified public accountants to work collaboratively with your leadership team to minimize compliance risk as well as monitor industry developments. In addition to our unparalleled expertise, we can tap additional national and global resources on your behalf through our membership in the BDO Alliance USA.

Our nonprofit services include:

Audit and Assurance Services

• Audits, reviews, and compilations of financial statements
• Accounting systems, policies, and procedures
• Consolidated fiscal report (CFR) certifications
• Employee benefit plans
• Internal audits
• Operations (efficiency) and internal control audits
• Single audits in accordance with Uniform Guidance and Yellow Book audits
• Single Audit Data Collection Form (SF-SAC)
• U.S. Department of Housing and Urban Development (HUD) program audits

Tax Services

• Forms 990 and CHAR500
• Forms 1023 and 1024 (Initial Formation and Exemption Applications)
• Form 1099 series filings
• Unrelated Business Income Taxes (UBIT)

Consulting Services

• Alternative investments
• Bonding and other financing
• For-profit subsidiary corporations
• Forensic accounting and investigations
• Initial formation and exemption applications
• Institutional investing and policies
• Rate reimbursement
• Software selection and support
   

Firm Resources

• American Institute of Certified Public Accountants (AICPA)
  • AICPA Government Audit Quality Center
  • AICPA Employee Benefit Plan Audit Quality Center
• Association of Certified Fraud Examiners
• Association of Government Accountants (AGA)
• BDO Alliance USA
  • Institute for Nonprofit Excellence
• Institute of Internal Auditors
• Healthcare Financial Management Association
• National Association of College and University Business Officers
• New York State Society of Certified Public Accountants
  • Health Care Committee
  • Not-for-Profit Organizations Committee, State and Local Chapters
  • Governmental Accounting and Auditing Committee
  • Technology Assurance 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; details to follow. Contact Maria Gambacorta with further questions. 

For more information about our accounting and consulting services for nonprofit organizations, contact Donna Gonser, Jill Johnson, or complete the form below.