MSL is one of the leading CPA firms serving the not-for-profit community. We are well-acquainted with exempt organizations of all sizes and how to help meet the unique demands placed on them. The MSL Not-For-Profit Practice Group goes beyond providing traditional accounting services to bring your organization the accounting, auditing, and tax services it needs to protect itself now and in the future.
PHILANTHROPIC ORGANIZATIONS AND FOUNDATIONS
Over the next two or three decades, the philanthropic sector is expected to grow dramatically as a result of an intergenerational transfer of wealth. With this anticipated growth may come legislative changes, such as tax incentives and regulatory standards, that could adversely impact foundations. One factor fueling legislative reform is the fact that financial institutions are marketing charitable products.
With these potential legislative changes coming, foundations should take this opportunity to address their corporate governance policies, including accountability and standards for giving. Additionally, it is important that foundations help policy makers and related parties understand the true value philanthropy brings to society.
MSL CAN HELP YOUR FOUNDATION:
Determine the best approach to controlling and accounting for alternative investments
Implement practices to improve corporate governance policies and procedures
Respond to changes in the philanthropic landscape that may adversely impact its mission
Balance financial objectives with charitable objectives
Integrate technology to enhance operational efficiency
SOCIAL SERVICES
Social service and charitable agencies are vital to humanitarian fulfillment. Many agencies today are faced with the challenge of maintaining the necessary revenue and cash flow to support their respective missions.
MSL UNDERSTANDS THE UNIQUE NEEDS OF SOCIAL SERVICE AND CHARITABLE AGENCIES AND CAN HELP YOUR ORGANIZATION:
Leverage its corporate governance policies and financial stewardship to improve organizational efficiency and attract and maintain financial contributors and other stakeholders
Assess proposed ideas for supporting community and educational programs
Enhance operating performance and internal controls
Develop long-term strategic plans to ensure future viability
Integrate technology to enhance operational efficiency
MSL currently serves over 220 not-for-profit entities, including philanthropic organizations, healthcare organizations, membership organizations, foundations, and charter schools.
SERVICES
Development of Indirect Cost Allocations
Bylaws/Articles of Incorporation Review
Efficiency Reviews and Operational Audits
Assisting with Donor and Estate Planning Issues
Unrelated Business Income Tax Issues
Corporate Organizational, Operational, and Compliance Consulting
Pension Plan Development, Compliance, and Related Reporting Requirements with the IRS, Department of Labor and ERISA
Compliance Audits (GAGAS, State Single Audit Acts, Uniform Guidance, and HUD Reporting Requirements)
Preparation of Federal/State Information Returns, including Forms 990 and 990T
