Beyond E&A’s accounting and financial audit services, E&A provides added value for not-for-profit entities (NFP). We understand the challenges not-for-profit entities face and provide the industry-specific business expertise required to overcome those obstacles and improve your financial condition while not losing sight of your mission.
Of course, as a full service firm, E&A provides traditional financial audits and reviews for not-for-profit entities that are not subject to A-133 or Yellow Book requirements. Our audit clients are fiercely loyal and have been clients for at least 10 years. Because performing audits/reviews requires E&A to maintain independence, we cannot provide both audit/review services or ongoing accounting services to the same client.
For clients not requiring independence, E&A acts as your accounting department so your team is free from the hassles of many complex and time-intensive accounting tasks. This allows your team to do what it does best—managing and growing your not-for-profit entity.
Consider all that we can accomplish for your organization:
- Create meaningful financial statements, dashboards, and reports to keep you updated on your NFP’s financial status. We collaborate with you to ensure you know your organization’s financial health using QuickBooks Online.
- Process vendor bills efficiently. By processing payments be done online, we return relevant information and process payments quickly.
- Balance bank deposit, loan, and credit card accounts. Our secure website gives you access to your registers, view your cash position, and know that everything is in order.
- Full-service payroll. E&A provides turnkey payroll processing, including, management reporting, direct deposit, electronic tax filings and payment, and year-end reporting. You and your employees have 24/7 access to payroll info via individual Net Client portals.
- Ensure you are well prepared for audit season. E&A makes sure your books are in excellent shape and expenses are properly recorded by program (i.e., statement of functional expenses) as you approach audit season. We also assist you through the audit process, answering questions along the way.
- Ensure you remain in good standing with the State and funding sources. Providing accurate, timely financial information helps ensure you receive your share of governmental grants and other funding.
- Segregate duties. To ensure your internal controls provide the proper checks and balances, it’s wise to separate accounting duties from day-to-day operations. E&A becomes your accounting department—ensuring the proper controls are in place and the integrity of your accounting processes is maintained—E&A serves as a second set of eyes.
- Preparing Form 990 or 990EZ. E&A accurately prepares your required annual 990 filing and electronically files it timely with the IRS. The annual filing is required to avoid losing tax-exempt status. We provide an electronic version for your records that is available 24/7 in your Net Client Portal and is easily shared with others.
- Assist with Grant Reporting. Tracking, reporting, and supporting expenditures to granting agencies can be arduous. E&A handles that process for you by tracking necessary information via our accounting procedures or, actually preparing the necessary grant reports and invoices.
You are passionate about your non-profit organization’s mission. So, you need an accounting firm that not only shares your fervor for your core mission, but, also understands the nuances and complexities of accounting for non-profit entities and provides the business insights you seek. E&A is that firm—and we look forward to serving you.