Understanding Charities and Non-Profit Organizations: A CPA’s Guide

At Core CPAs and Advisors, we have extensive experience working with charities and non-profit organizations. In this article, we will explore what these entities are, how they are regulated by the Internal Revenue Service (IRS), and how our CPA firm can assist.

What are Charities and Non-Profit Organizations?

Charities and non-profit organizations are entities that are established to provide benefits to society or certain individuals. These organizations can range from hospitals and universities to advocacy groups and arts organizations.

IRS Regulation

The IRS has specific rules for non-profit organizations. These organizations must meet certain requirements to maintain their tax-exempt status. For example, they must operate exclusively for charitable, religious, educational, scientific, or literary purposes.

How Can Our CPA Firm Assist?

Our CPA firm has extensive experience working with charities and non-profit organizations. We can assist in several areas, including:

-Tax Preparation: We prepare the organization’s annual tax return, ensuring all IRS regulations are met.

-Audits: We conduct audits to ensure the organization is handling its finances appropriately.

-Financial Planning: We assist organizations in planning their financial future, including creating budgets and investment plans.

In summary, charities and non-profit organizations play a vital role in our society. At CoreCPAs and Advisors, it is an honor to be able to work with these organizations and help them navigate the complex world of tax regulation. If you represent a charity or a non-profit organization and need assistance, please do not hesitate to contact us. We are here to help.


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