Nonprofits

Salmon Sims Thomas serves nonprofits, such as churches and ministries, health and welfare agencies, trade associations, and K-12 private schools. In fact, we are often asked to train and educate professionals in nonprofit accounting. We understand you must manage resources under federal and state oversight, as well as public scrutiny. We can verify that your accounting and reporting requirements are compliant for maintaining your nonprofit status, help you evaluate internal controls to prevent fraud, and look for ways to maximize revenue in your operations.

We also earn on-the-ground experience, as our team members participate both individually and as a group in a wide range of charitable organizations and events and serve on the boards of several nonprofits.

Services include audit and financial services, tax planning and compliance, and consulting:

  • Circular A-133 ‘Single Audit’, and other state and local requirements
  • Reviews, compilations, and agreed-upon procedures
  • Preparation of required reports for funding agencies
  • Charitable giving planning and tax compliance
  • Minister tax issues
  • Selection of optimum organizational structure and evaluation of internal controls
  • Unrelated business income tax planning
  • Excess benefit issues and intermediate sanctions
  • Application for exemption, representation before the IRS, internal controls
  • Donation, endowment and gift acceptance policies
  • Budgeting and expense allocations by functional area
  • IRS 990 and 990T reporting
  • Tax compliance reviews
  • Corporate, partnership and individual taxation issues including federal and state registration and reporting requirements; compliance with state laws such as payroll, sales tax, tax-exempt status
  • Charitable giving planning

Have a question?

Bill Sims, CPA/Partner, 972.341.9545

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