• Accounting, Consulting & Audit Services
    for Non-Profits, Government Agencies
    & Corporations

Not-for-Profit Services

Increasingly, not-for-profit entities are challenged with making important, strategic decisions under the scrutiny of multiple agencies and the need to comply with a growing number of complex rules and regulations in an ever-changing business environment.

LIFMS has a long history of providing both insourced and outsourced accounting services to the not-for-profit sector, providing specialized services to charitable organizations including:

  • Faith based entities
  • Youth organizations
  • Headstart, Daycare and Early Learn
  • Arts Organizations
  • Social service providers
  • Animal rescue groups
  • Literary organizations
  • Dance companies and schools
  • Chambers of Commerce and business industry groups
  • Historical societies
  • Domestic violence shelters
  • Housing organizations
  • Senior citizen programs
  • Social justice and inclusion groups

We provide a full range of services in assurance, financial advisory and tax services to assist our clients in achieving their mission and goals. Through our many years of experience, our team has gained comprehensive knowledge of the tax requirements, operational structure, and unique needs specific to non-profit entities. We offer highly personalized services in this sector, focusing our efforts on lowering your costs and streamlining your operations. We further seek to help you maximize the potential of your limited resources – not only to preserve, but also to strengthen your ability to continue to serve the community for future generations.

We take pride in our state of the art office, which is at the forefront of the digital revolution. Through our use of cloud-based accounting software, our clients are able to stay current on important financial issues wherever they may be.

In addition to our traditional tax and assurance services, our team provides a number of innovative services for non-profit entities, including:

  • Certified audits, Reviews and Compilations
  • Application for exempt status 501C3 and other exemptions
  • Accounting system implementation assistance
  • Outsourced accounting and bookkeeping, including CFO services
  • Form 990 preparation
  • Preparation and reviews of Consolidated Financial Report (CFR)
  • Automated grant reporting
  • Budgeting, project tracking and management
  • Cash forecasting
  • Bank reconciliations
  • Monthly voucher preparation for funders
  • Annual Office of Charities filing
  • Consultation regarding unrelated business income tax
  • Sales tax filing
  • Consultation regarding for profit subsidiaries
 
    • WBENC - Certified Women-Owned Business
    • DBE Certified - Disadvantaged Business Enterprise
    • AICPA
    • SBA WOSB
    • NYS CPAs
    • QuickBooks Certified
    • QuickBooks Online Certified