Nonprofit Financial Services
Non-profit organizations exist to serve a mission-and the financial reporting requirements that come with that mission demand a specialized level of expertise that general accounting practices simply cannot provide.
Non-profit organizations exist to serve a mission-and the financial reporting requirements that come with that mission demand a specialized level of expertise that general accounting practices simply cannot provide. At Harrod & Associates, P.S.C., we have deep experience in non-profit accounting, and our team is uniquely positioned to help your organization navigate the complexities of fund accounting, restricted grant reporting, Form 990 preparation, and the assurance services that your board, funders, and regulators require.
The Unique Challenges of Non-Profit Accounting
Non-profit financial reporting differs fundamentally from for-profit accounting. The emphasis is on accountability rather than profitability-on demonstrating that resources have been used in accordance with donor intent, grant restrictions, and organizational policies. This requires a chart of accounts structured around net asset classes, a deep understanding of functional expense allocation, and the ability to produce financial statements that tell a clear and compelling story about your organization's financial health and program effectiveness.
Failing to get this right has real consequences. Misstated financials can jeopardize grant renewals, damage donor confidence, trigger auditor findings, and in serious cases, create regulatory exposure for your board of directors. Our team understands these stakes, and we approach every non-profit engagement with the rigor and care that the stakes demand.
Expertise Built for Mission-Driven Organizations
Financial Statement Preparation & Audit Services
Many non-profits are required by their bylaws, grant agreements, or state law to have their financial statements audited or reviewed by an independent CPA. Our team performs these engagements for non-profit organizations of all sizes-from small community-based organizations to larger regional non-profits with multi-million dollar budgets and complex grant portfolios. We conduct these engagements in accordance with Generally Accepted Auditing Standards (GAAS) and, where applicable, Government Auditing Standards (the "Yellow Book") for organizations that receive federal funding.
- Audits and reviews for non-profits of all sizes
- GAAS and Government Auditing Standards (Yellow Book) compliance
- Independent CPA assurance for bylaws, grants, and state law
Form 990 Preparation
The Form 990 is one of the most important public documents your non-profit will produce. It is reviewed by potential donors, grant-making foundations, watchdog organizations, and state charity regulators. An accurate, well-prepared Form 990 demonstrates transparency, strengthens your credibility, and reduces your risk of IRS inquiry. Our team prepares Form 990, 990-EZ, and 990-PF filings with attention to the detail, accuracy, and narrative quality that these returns require.
- Form 990, 990-EZ, and 990-PF filings
- Narrative quality that strengthens donor credibility
- Reduced risk of IRS inquiry and regulatory exposure
Grant Compliance & Reporting
Organizations that receive government grants-federal, state, or local-face additional compliance requirements, including the potential requirement for a Single Audit under Uniform Guidance. We have experience assisting non-profits in preparing for and navigating these requirements, ensuring that your organization maintains its eligibility for continued funding.
- Single Audit preparation under Uniform Guidance
- Federal, state, and local grant compliance support
- Continued funding eligibility maintained
Bookkeeping & Financial Management Support
Many non-profit organizations, particularly smaller ones, do not have the internal resources to maintain a full accounting department. We provide bookkeeping, financial statement preparation, and accounting policy support services that give your leadership team the accurate, timely financial information they need to manage the organization effectively and report transparently to your board.
- Bookkeeping and financial statement preparation
- Accounting policy development and support
- Accurate, timely reporting for leadership and board
A Partner in Your Mission
We know that running a non-profit is demanding work. The last thing your leadership team should have to worry about is whether your financial reporting is accurate and compliant. Let us carry that burden, so you can stay focused on the mission that drives your organization forward.