GCS has experience with a vast array of not-for-profit organizations and is familiar with the unique operating and governance characteristics, and the often complex tax laws and regulatory issues facing these entities. Our clients include the following types of not-for-profit entities:
|Public Charities||Business Leagues|
|Private Foundations||Professional and Trade Associations|
|Religious Organizations||Political Action Committees|
|Hospitals||Social Welfare Organizations|
|Cemeteries||Social and Recreation Clubs|
|Educational Institutions||Veterans and Fraternal Societies|
GCS can perform an attestation engagement designed to satisfy the requirements of State or other regulatory authorities, grantor requirements, or to fulfill Board fiduciary responsibilities. Such engagements include Audits, Reviews or Compilations of Financial Statements and Agreed-Upon Procedures engagements.
Tax Compliance, Preparation, and Strategic Planning
GCS’s expertise in advising organizations exempt from income taxes under various sections of the Internal Revenue Code. Selecting and maintaining the most appropriate tax-exempt status through regular monitoring of objectives and activities is critical. And, as a not-for-profit organization grows, new challenges and opportunities may arise in the following areas:
|New Programs and Activities||Form 990 Reporting and Disclosures|
|Nexus Issues (State, Local or International)||Endowment Fund Law (UPMIFA)|
|Fundraising Registration and Reporting||Gaming Activities|
|Formation of Joint Ventures||Lobbying and Political Activities|
|Establishment of For-Profit Subsidiaries||Unrelated Business Income Tax|
Board Governance, Policies and Procedures
Many not-for-profit Boards are comprised with individuals from the private sector with limited experience with Board governance and policy matters. GCS can advise your Board on recommended best practices for ensuring its fiduciary responsibilities are fulfilled. In addition, many not-for-profits lack highly sophisticated accounting systems or internal controls, nor the high-level financial personnel to implement these processes internally. GCS can assist your management and information technology team with the design, documentation, and implementation of these processes to streamline financial reporting, prevent and detect fraud, and improve cash flow management and productivity. GCS can also advise you on addressing Form 990 hot-button topics such as Executive and Key Employee Compensation, Conflict of Interest Policies, Whistleblower Policies, and Document Retention and Destruction Policies.
Operational Review and Consulting
Ensuring that an organization adheres to its mission statement and operates within its stated exempt purposes is not only necessary to maintain tax-exempt status, but also crucial to improving public relations and perception, building membership and donor bases, and enhancing program development and fundraising results. In addition, many not-for-profit organizations have grown accustomed to working within a “comfort zone” with respect to their operations. Often, it takes the knowledge and experience that GCS possesses to help management start thinking “outside the box” and adapting to changes that have been impacting their organization. GCS can perform a review of your organization’s operations and design a program to improve your organization’s chances for future success.
Organizational Structure and Planning
Proper structure and planning are critical to the long-term growth and success of a not-for-profit organization.
Key Employee Recruitment, Compensation and Retention
Recruiting, compensating and retaining key employees is often challenging for non-profits. GCS can assist your management team with locating qualified candidates, screening resumes, conducting interviews, obtaining salary comparables, designing compensation and benefits packages, establishing goals, monitoring progress, and measuring performance.