Starting a nonprofit organization can be as complicated as it is inspirational. For nonprofit administrators, managing an organization’s services as well as its operations can sometimes be overwhelming. While being tasked with maintaining compliance documentation, managing staff, and providing a consistent service to the community, essential nonprofit organization management, especially accounting, can be left in disarray.
Fortunately, CharityNet USA understands the complexities of managing an organization, and we’re here to help modernize your nonprofit bookkeeping. As a 501c3 Nonprofit organization, we are aware that you have many tasks to deal with, by utilizing our bookkeeping services, you will save time and energy to focus on other activities that generate income for your business.
Let Us Help You save money as you Grow Your 501c3 Nonprofit!
What Do We Offer?
Our bookkeeping services for charity organizations are packaged based on organizational annual income and expenses. We provide an affordable service and secure payment options that you can count on for your nonprofit’s success. All our bookkeeping options include:
- Dedicated Account Manager
- Online access to your monthly, quarterly, and annual bookkeeping Reports.
- Access to QuickBooks® online
- Monthly Income and Profit and Loss Statements
- Monthly bank and credit card reconciliation
We also offer Nonprofits 990 Tax filing services. By hiring Charitynet USA as your bookkeeper, we will have all your books ready and can complete your 990 Charity tax filings on your behalf. 990 Tax services are available for a separate fee. Otherwise, we will work directly with your CPA or accountant during tax season to ensure they have everything for your 990-tax filing.
At CharityNet USA, our nonprofit bookkeeping service professionals for charity organizations can handle every phase of your organization’s general bookkeeping tasks. Why worry about late reporting, government fines, or problems with the IRS when you can have an bookkeeping professional assist your organization with accurate and timely filing?
With our one-stop approach, we can not only help you develop your strategy but also render your program for less than our competitor’s charge.
Annual 990 Nonprofit Tax Filing
As your nonprofit bookkeeper, we are best positioned to support you come tax season, as we can easily file your annual Charity 990 Tax form. Our 990 Tax preparation Services offer nonprofit organizations a comprehensive and cost-effective approach to compliance. Particularly, we can provide nonprofits with annual Form 990 document preparation services ranging from the setup and maintenance of the organization’s fiscal records on an ongoing basis, to completing the annual Form 990 itself. The Form 990N (postcard), Form 990T for taxable income, IRS Form 990 EZ and Voluntary, and the Form 990PF for private foundations are documents that we professionally prepare annually for nonprofits nationwide.
Need More Information?
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Frequently Asked Questions
A. Accounting allows you to quickly determine your organization’s financial state, and whether you have adequate funding to cover costs. Keeping your income and expenses in order will also help when filing tax documents at the end of the year. Additionally, many foundations want to view financial statements or a 990. A good bookkeeper will help you maintain good record-keeping and be prepared for any audit.
A. Yes! Hiring a good bookkeeper can help you organize your accounting quickly. They can enable you to make the changes in your nonprofit that will keep it on track toward success and sustainability.
A. The balance sheet shows a snapshot of the organization’s financial position, including assets and liabilities. Assets are things that are owned by the business. Liabilities are things that are owed to others. Balance sheets show you and your potential donors that funding is being utilized effectively to sustain the organization’s mission fulfilling programs.
A. If your nonprofit is really small, you can manage it fine without creating a balance sheet each month. But any size nonprofit, including a part-time one, needs to create a good profit and loss statement each month. If inventories or accounts receivables are important in your nonprofit, balance sheets will clearly point out any significant fluctuations that you should be aware of.
A. An income statement (often called profit and loss statement or P&L) is the scorecard for a nonprofit. It shows the revenue, expenses, and profit or loss. It shows these things for some period of time, usually a month or a year. An income statement is usually titled “Income Statement for X Organization for the period January 1 to December 31.”
A. The income statement tells you if you are remaining cost-effective and shows your costs and expenses. It shows where you are spending your money and what sources your income is coming from. If you are not covering expenses, the Profit & Loss Statement can show you where you may be able to cut costs.
A. After you sign up for the service, we will email you an order confirmation and service agreement. After you acknowledge this, we will forward you another email providing you access to our client-only web tools & questionnaire. Once you complete this online questionnaire, we will call you within 48 hrs to set up a conference call with your service consultant. During this call, the consultant will confirm information, ask you questions, answer any of your questions, and begin to work on your project.
A. Our monthly bookkeeping package includes income and expenses for the month entered into QuickBooks, monthly bank reconciliations, monthly balance sheet, and monthly income statement (P&L).
A. We have created a document checklist that you will want to keep to inform you of what we will need each month. Keep in mind, not all items on the list may apply to your organization.