Non-profit organizations offer an invaluable service to communities, providing aid, resources, and outreach where needed most. However, maintaining the tax-exempt status of a non-profit can be daunting, thanks to complicated IRS requirements. That’s where ORT Consulting comes in—your one-stop solution for non-profit financial planning and IRS reporting.
The IRS Form 990 Series: A Critical Component
The primary hurdle in securing tax-exempt status for non-profit organizations lies in IRS reporting. Key to this is the Form 990 series. Essentially, IRS Form 990 and its related forms serve as a public disclosure mechanism for non-profits, detailing aspects like:
- Income Statement: A breakdown of your income sources.
- Balance Sheet: A snapshot of your assets, liabilities, and equity.
- Functional Expense Statement: What your organization spends on programming vs. administration.
- Individual Program Expense Statement: Costs related to specific projects or outreach.
- Revenue Support Schedules: A listing of grants, donations, and other revenue.
Your accounting systems must be fine-tuned to capture these classifications, as the IRS rigorously scrutinizes them to determine your tax-exempt eligibility.
Our Expertise: A Detailed Overview
At ORT Consulting, we simplify the complexities for you. Whether you are setting up a new non-profit or looking to maintain your tax-exempt status, our service offerings cover all the essentials:
Financial Statement Reviews
We comb through your current and past financial statements to identify compliance issues or potential red flags that could jeopardize your tax-exempt status.
Accounting System Design
Our team designs and helps you maintain a streamlined accounting system aligned with IRS classification requirements for revenue and expenses.
Payroll and Taxes
Are you managing payroll? We assist with payroll preparation and taxes to ensure you meet all federal and state obligations.
Tax Form Filing
When it’s time to file your Form 990 and 990-T, we make the process straightforward and stress-free.
Specialized Assistance for Churches
We understand the unique financial needs of religious organizations. Whether it’s handling pastoral housing allowances or addressing the dual tax status of ministers, we’ve got you covered.
Starting a New Non-Profit?
For those at the initial stages, ORT Consulting offers comprehensive services to get you up and running:
- Legal Setup: We provide step-by-step guidance from Articles of Incorporation to Employer Identification Numbers.
- Board and Member Documentation: We help you keep accurate records of board meetings, board member information, and active member data.
- Financial History: Generate revenue and expense statements from as far back as possible to present a clear financial picture.
- Mission and Fundraising: We help you define your organizational mission and develop program descriptions for fundraising efforts.
- IRS Fees: Navigating the IRS processing and filing fees can be a hassle; we make it easier for you.
Ready for a Free Consultation?
Interested in learning how ORT Consulting can keep your non-profit’s tax-exempt status intact or help launch your new non-profit venture? Click below for a free consultation and take the first step towards financial compliance and peace of mind.
Make IRS reporting a less daunting task with ORT Consulting. Your mission is our mission. Let us help you focus on what matters most—making a positive impact.
For more information, visit ORT Consulting or contact us today for a free consultation.