Non Profit Organizations

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 the Form 990 and its relations, which includes the following items.
 

        1. Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent...
        2. Balance Sheet with specific categories like cash, accounts receivable, accounts payable...
        3. Functional Expense Statement with all the expenses allocated to program services, fundraising, or operations.
        4. Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings.
        5. Revenue Support Schedules that detail the organization's sources of income in specific categories like charitable donations, membership fees, investment income.

 

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 can do for you
 

        Review and compile your financial statements
        Design, install, and maintain your Accounting System
        Weekly, bi-weekly, or monthly payroll preparation
        Payroll Tax Preparation and Deposits
        Provide training for your accounting personnel
        Complete and file your non profit status application
        Provide training for your board on non profit financial statement usage and effective budgeting practices
        Prepare and file the 990 and 990T tax forms
        Prepare your initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state

           agencies.
        Churches: We prepare the pastoral housing allowance and other required benefit documentation to meet the complex dual status of ministers.

 

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.
 

Here are some things that are needed
 

        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").
        Employer Identification Number
        By-laws of the Organization
        Minutes of Board Meetings
        Names, Addresses, and Resumes of Board Members
        Names and addresses of all Active Members
        Inventory of Assets like cash, furniture, equipment, property, pledges...
        Inventory of Liabilities like mortgages, accounts payable, loans...
        Rent/Lease Agreements and Contracts
        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.
        Written Reason for Formation and History of the organization.
        Organization Mission Statement or Statement of Faith or Beliefs for Churches and other Religious Organizations.
        Organization Activities, Operations and Programs Documentation including your statement of purpose & operations, food programs, fundraisers, flyers/brochures 

           /pamphlets...
        Financial Support Documentation including all sources of revenue like contributions, tithes, offerings, fundraisers...
        Fund Raising Program Descriptions
        IRS Processing/Filing Fee

 

We are happy to assist in the preparation any of these items if you need help.
 

Let us help you setup and/or maintain your non profit tax-exempt status by requesting a Free Consultation below.

Contact Us

Wilson, Haag and Co., PC

Texas Address:                     Kansas Address:

418 S. Polk Street                 6711 W 121st St, Suite 101

P.O. Box 590                        Overland Park, KS 66209

Amarillo,TX 79105                

Phone (806)372-3331           Phone (913)535-9992

Fax (806)372-3355

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