Proven Nonprofit Results.
For a nonprofit organization to fulfill its mission, it not only needs financial support; it must also satisfy special accounting and reporting requirements. Our work with not-for-profits is extensive. We understand the unique environment and have developed efficient audit methodologies that enable us to provide effective audits. M+N also has experts in tax exempt matters to ensure that organizations are operating in accordance with IRS rules. We have experience serving many types of nonprofit organizations and our team of experts can provide the needed services and guidance for each type. These include:
- Educational institutions
- Higher education / colleges and universities
- Private elementary / high schools
- National, regional and local trade associations
- Museums and cultural institutions
- Voluntary health and welfare organizations
- Behavioral health care
- Governmental entities
- Religious organizations
While we perform traditional audit services, we also get involved at a deeper level by reviewing internal control systems, assisting with strategic planning, performing operational reviews and evaluating information systems to identify efficiencies.
The scrutiny of not-for-profit organizations by Congress, the Internal Revenue Service, and the media has increased dramatically over the last several years. Maloney + Novotny has developed a proprietary program to assist clients with gathering the necessary information for the Form 990 in an efficient and cost-effective manner.
Tax exempt organizations were impacted by tax reform. We provide assistance with these new rules in the absence of implementation guidance from the IRS. Such issues include separation of unrelated business activities, excise taxes on executive compensation and investment income of certain private colleges and universities, and tax consequences of providing qualified transportation benefits including parking to employees. We specialize in providing sound advice on tax matters for tax-exempt clients, a service that very few CPA firms are able to provide.
Many CPA firms audit employee benefit plans, but few truly specialize in this complex and highly regulated area. Maloney + Novotny has the current experience, ongoing training and resources necessary to effectively audit 403(b) plans under the regulations outlined in ERISA (Employee Retirement Income Security Act).