Nonprofit Industry Services

Reznick Group has had a strong presence in the nonprofit industry since the firm's founding in 1977. Today, we serve more than 500 nonprofits annually, providing them with accounting, reporting, and tax return services tailored to the unique needs of their organizations. Our clients include associations, foundations, nonprofit housing developers and charities with educational, religious, philanthropic and social service missions. Each is served by a highly experienced professional team in offices across the country.

Reznick Group's industry insights, quality services and year-round involvement help our nonprofit clients more effectively manage their financial processes. Our accounting professionals routinely work with nonprofit management teams, seamlessly interfacing with Finance and Audit Committees and Boards of Directors. They also contribute to the ongoing professional development of our clients' staff in communicating the latest changes in accounting pronouncements, updates on auditing standards and regulatory activity impacting their organization.

Services


 Accounting

  • Donor imposed temporarily and permanently restricted contributions
  • Reporting for controlling and controlling interests in for-profit and nonprofit entities
  • Accounting and reporting of "agency transactions"
  • Derivative instruments and hedging
  • Reporting of endowment funds
  • Accounting for uncertainty in Income Taxes
  • Employers' Accounting for Defined Benefit Pension and Other Post Retirement Plans

 Audit and Compliance

  • Consideration of fraud in financial statement audit
  • Compliance with lobbying rules to avoid excise taxes and penalties
  • Program services and supporting services, functional reporting and allocations
  • Satisfaction of donor imposed restrictions
  • Related party disclosures and reporting
  • Unconditional and conditional promises and intentions to give
  • Split-interest contribution and agreements (Charitable lead annuity trusts, charitable lead unitrusts and charitable remainder trusts)
  • Off-balance-sheet financial instrument risks
  • Fundraising and joint costs allocations

 Tax Preparation and Advisory

  • Nonprofit tax returns
  • Qualification and compliance services
  • UBIT tax structure modeling and planning
  • Lobbying cost disclosures
  • PACs as well as a wide range of tax consulting and compliance services