
Charles B. Davis, P.C.
Certified Public Accountant
We can help you setup and maintain your non-profit organization's tax-exempt status by handling all the IRS reporting for you.
Each year the IRS requires most tax-exempt organizations to submit Form 990 and its relations, which includes the following items:
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Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent, etc.
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Balance Sheet with specific categories like cash, accounts receivable, accounts payable, etc.
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Functional Expense Statement with all the expenses allocated to either program services, fundraising, or operations.
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Individual Program Expense Statement that reports all of the expenses for each program or service, such as seminar programs or educational mailings.
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Revenue Support Schedules that detail the organization's sources of income in specific categories, like charitable donations, membership fees, and investment income.
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The IRS uses these very specific revenue and expense classifications to determine if your organization will retain its tax-exempt status. So it's imperative that you build your accounting system around these revenue and expense classifications.
Here's what we do for you:
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Review and compile your financial statements
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Design, install, and maintain your Accounting System
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Weekly, bi-weekly, or monthly payroll preparation
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Payroll Tax Preparation and Deposits
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Provide training for your accounting personnel
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Complete and file your non-profit status application
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Provide training for your board on non-profit financial statement usage and effective budgeting practices
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Prepare and file the 990 and 990T tax forms
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Prepare your initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state agencies.
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Churches: We prepare the pastoral housing allowance and other required benefit documentation to meet the complex dual status of ministers.
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If you're starting a new not-for-profit organization we can help you prepare your organization's 501 (c)(3) application for tax-exempt status.
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Here's what's needed:
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Articles of Incorporation containing the Exempt Purpose Statement as described in IRS Code section 501(c)(3) and defined in Treasury Regulation 1.501(c)(3)-1 Paragraph d and the Dissolution Statement described in Treasury Regulation 1.501(c)(3)-1 Paragraph b subparagraph 4 ("Organizational Test").
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Employer Identification Number
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By-laws of the Organization
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Minutes of Board Meetings
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Names, Addresses, and Resumes of Board Members
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Names and addresses of all Active Members
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Inventory of Assets like cash, furniture, equipment, property, pledges...
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Inventory of Liabilities like mortgages, accounts payable, loans...
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Rent/Lease Agreements and Contracts
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Revenue and Expense Statements for the last four years or as far back as possible if your organization has been in existence for less than four years.
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Written Reason for Formation and History of the organization.
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Organization Mission Statement or Statement of Faith or Beliefs for Churches and other Religious Organizations.
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Organization Activities, Operations and Programs Documentation including your statement of purpose & operations, food programs, fundraisers, flyers/brochures/pamphlets...
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Financial Support Documentation including all sources of revenue like contributions, tithes, offerings, fundraisers...
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Fund Raising Program Descriptions
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IRS Processing/Filing Fee
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We can prepare any of these items for you.