We offer complete accounting services for non profits

• Audit, review and compilation services
• Financial Statement Preparation
• Form 990 Preparation (IRS annual tax return)
• NYS CHAR 500 (NYS Charities Bureau annual form)
• Budgets development and review
• Cash flow schedules
• Grants application assistance
• Assist in Hiring and training in-house financial staff

*Audit or Review Preparation Services

If you already have a CPA for your annual audit or review, we could help get your books and records in order. Because of  independence requirements, your CPA is limited in how they can help you prepare for your year end.  Our job will be to help your organization prepare an audit ready financial statement and identify any issues prior to the audit. We can also be present during the audit to help the process. This service relieves the stress of the annual audit especially for organizations without a full time controller.  Many times our service will result in lower fees from the Auditing CPA firm offsetting the cost of our service.

We can also assist in preparing the following needed documents:

• Conflict of Interest Policy
• Whistleblower Policy
• Fiscal policies and procedures and internal control manual
• Personnel Policy manual

Consulting and other Engagements: We can also help with Internal Financial statements, Grant applications, Budgets, Computer setup, or other matters.

John Vazzana, CPA specializes in working with not for profit organizations.  A large percentage of the firms' time is spent assisting not for profit clients. Whether in audits, fiscal management, taxes or consulting, our professional , courteous service is second to none.  In these times of ever changing laws and regulations, not for profit clients need the expertise we provide.

On December 29th 2007 , The IRS issued an updated version of Form 990. The new  form allows an organization to describe its exempt accomplishments and mission up-front and provides more opportunities throughout the form for the organization to explain its activities.  Major changes were made to the form’s summary page, governance section, and various schedules, including those relating to executive compensation, related organizations, foreign activities, hospitals, non-cash contributions and tax exempt bonds. Organizations are also requirement to maintain a written whistleblower Policy and document retention policy.  We make sure our clients are in compliance with all current requirements and help them with any needed documents.

In New York State, organizations with total support & revenue of more than $250,000 must have independent accountant’s audit report and financial statements with accompanying notes in conformity with Generally Accepted Accounting Principles (GAAP), including compliance with all pronouncements of the Financial Accounting Standards Board and the American Institute of Certified Public Accountants that establish principles relevant to not-for-profit corporations. Organizations with total support & revenue of more than $100,000 must have independent accountant’s review report and financial statements with accompanying notes.

Our focus on not for profit entities and our efficiencies enable us to provide the most competitive pricing for audits and other not for profit services.

To discuss how we can service your organization, please contact John Vazzana directly at 718-491-1241 or Click here to contact us about your organization's needs.