Nonprofit

Empower your nonprofit with a team of advisors who know and understand your challenges

Nonprofits are unique from other business types and have special concerns and operational methods. We know that you must be accountable to many different overseeing groups and that you must maximize your resources. We’re adept at understanding your specific challenges and how to overcome them in order to run a strong and sustainable nonprofit. We undertake the behind-the-scenes operations so you can focus on the mission.

Having the right advisors to lead you is especially important in these increasingly complex times. With all the changes and limitations in the way you can conduct fundraising and in-person events, it’s imperative that new, innovative methods are developed. Making the most use of available resources and optimizing cash flow are more important than ever before.

Our firm is also committed to providing a professional workplace where our people can be their full authentic selves. We understand the importance of having an inclusive and diverse workplace and one where our staff and clients feel comfortable and valued. Learn more about our Inclusion and Diversity initiative.

An effective board is critical to your nonprofit’s success.

Your nonprofit’s board is its most valuable asset. Your board members set the tone of the organization and help it to operate at its full potential. It’s important that each board member is educated and trained up in nonprofit best practices to operate effectively and to strengthen governance.

Our team of nonprofit advisors understand the importance of a strong board and are committed to helping your organization fulfill its mission. We provide professional education and consulting opportunities to help empower your board and provide them with the necessary tools to succeed.

Maximize your nonprofit’s resources

Cash flow management is a big concern for nonprofits. Many receive a significant portion of their revenue during their fourth calendar quarter, causing their cash flow to run dry. If your organization is experiencing cash flow complexities, our advisors can help develop a system to gain a better understanding of these issues and implement the right solutions. Optimize your cash flow and increase your revenue by managing payments better, developing safeguards against bad credit and defining gaps so you can plan accordingly.

Retirement and employee benefit plan audits are essential for nonprofits to operate profitably and within compliance. These benefit plans are a vital component to an employee’s comprehensive benefits package. However, benefit plans come with many types of compliance and regulatory issues. Failing to address these issues in a timely manner can cause larger problems in the future. Having experienced advisors specifically trained in this area can be beneficial to all filers (single/multiple employer) and plan types.

Audits are required for plans with 100+ participants. We are a member of AICPA EBP Audit Quality Center and adhere to the membership requirements of training and inspection. Further, as an auditor of over 800 plans, our experienced staff have seen typical plan compliance missteps and can guide you through the correction process.

Financial reporting standards done right, the first time. Successful implementation of the FASB Not-For-Profit Financial Reporting Standard diverts time and attention away from the important activities you and your financial team concentrate on to move your organization forward. Stay focused on your mission by working with a trusted advisor who can guide you through the entire process, helping you with:

• Chart of account changes and report groupings
• Policies for board designations, liquidity management, and endowment distributions
• Functional expense allocations
• Liquidity measurements
• Required restatements
• Note disclosures
• Conversion of financial statements
• Presentation to your board of directors

Eide Bailly's nonprofit professionals understand the complexities and nuances of the new standards and will lead you through an efficient process to successfully implement them. We can help you save time, reduce disruption, and come away with fully compliant, more meaningful financial statements.

Take the pressure off when it comes to your single audit. A nonprofit or governmental organization with federal expenditures in excess of $750,000 is required by law to have a single audit performed, which includes an audit of both the financial statements and the federal awards. A professional with experience in single audits can help guide your organization through this task, advising you on various compliance issues, as well as help prepare the data collection form and the reporting package for submission to the federal clearinghouse so you can tend to your organization's other needs.

Maximize giving objectives with private foundation planning. Proper planning can set your private foundation up for success. For those interested in establishing a private foundation as a giving vehicle for their family now and in the future, you can accomplish more with your foundation beyond making grants. It’s important to know that the benefit of donor and family control of the assets and activities comes with rules on transactions the foundation can engage in.

With adequate planning, nonprofit professionals can help you structure your foundation to achieve your dreams while avoiding any costly excise taxes. They’ll help you understand the complexities of private foundations and ensure that there is a solid framework for your foundation to achieve organizational effectiveness for years to come. 

Eide Bailly's nonprofit team works with private foundations of all sizes and types, providing guidance on issues that impact them the most. Our firm's National Tax Office, international tax, wealth management and financial services professionals are here to address your issues, support your investments and help you achieve your giving goals.