Nonprofit
Corporate governance in the nonprofit sector is more critical than ever. In addition, nonprofit organizations are having to depend more on the community for support. There is no on-size-fits-all approach to staying viable and relevant, and our services will be tailored to your specific needs.
Together, we will work to make the world a better place.
FAQ
Q: What types of nonprofits does N&K serve?
A: N&K provides audit, tax, compliance and advisory services for:
- Social, human, health and welfare service organizations
- Churches
- Schools, education and research organizations
- Community centers
- Social clubs and organizations
- Healthcare organizations and health centers
- Foundations
- Unions
Q: How does N&K help nonprofit clients maintain their tax-exempt status?
A: Tax-exempt nonprofits operate in a highly scrutinized and regulated environment and are bound by complex tax laws. Their tax-exempt status could be impacted by operational factors such as for-profit activities, public support requirements, political activity, related party transactions and private inurement. N&K’s experienced team stays abreast of the unique requirements facing nonprofits to provide a host of compliance and advisory services that keep our clients exempt and focused on their mission.
Q: What types of non-financial services can N&K provided?
A: N&K can provide:
- Strategic planning
- Board of Directors training
- Development of a governance manual
- Focus group facilitations
- Trainings – Leadership, customer service, team building, etc.
Services
Nonprofit Organization Advisory Services
- Accounting & Financial Statement Preparation Services
Prepare financial statements in accordance with accounting principles generally accepted in the United States of America. We can also serve as a trusted adviser in preparing for major, upcoming revisions to accounting standards related to financial statement presentation, revenue recognition, and accounting for leases.
Hawaii General Excise Tax Filings
Review, advise and prepare interim and annual Hawaii GET filings.
- Internal control documentation and testing
Document internal controls over financial reporting and compliance, and perform testing of those controls. Internal controls help an organization achieve its objectives for operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies.
Compliance
- Financial Statement Audits
Perform audits in compliance with generally accepted auditing standards using the United States of America (GAAS) and generally accepted government auditing standards (GAGAS).
- Compliance audits
Ensure accountability for use of public funds by conducting single audits and program specific compliance audits in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) for various types of nonprofit entities such as charities, unions, health and welfare, and foundations.
- Tax Services
Assist and prepare the federal Form 990, including Form 990-T and the State of Hawaii Form N70-NP for any unrelated business income.
