NONPROFIT & EDUCATION

A POSITIVE IMPACT IN

YOUR INDUSTRY

Fulfilling the mission of a nonprofit organization is often prominent in the minds of the organization’s leadership and directors. The focus is centered on finding new ways to meet the needs of those they serve. There is a compassion and a desire to “help” that touches people in a meaningful way. While fulfilling their passion for helping, nonprofits face challenges. They must balance their mission of creating programs and delivering services with the financial reality of the need to rely on donations, grants, and other sources of funding. The formula can become more complicated when these sources include federal and state government agencies, due to compliance requirements. To stay focused, it’s essential to partner with an experienced provider who can help navigate issues, provide insights on best practices and assist in the financial vitality of the organization.

Klatzkin has decades of experience serving the audit, accounting, tax and compliance needs of nonprofit organizations in Lower Bucks County, Pennsylvania and across New Jersey. During this time, we have served federally funded organizations, healthcare entities, legal services, private foundations, social service organizations, and private education institutions, to name a few. Our team members work with management to address compliance requirements, provide accounting support, and assist with strategic planning needs. Our diverse experience allows us to bring a distinct perspective to your organization.

  • Our Nonprofit & Education Services

    • Auditing and Accounting Services
    • Audited financial statements
    • Reviewed financial statements
    • Compiled financial statements
    • Yellow Book Audit and single audit reporting
    • Consulting
    • Grant reporting Guidance
    • Tracking of expenditures for restricted funds
    • Audit preparation services
    • Tax Preparation and Compliance
    • Preparation of Form 990 and state registrations
    • Form 1023 Preparation and Assistance
    • Tax planning
    • Tax representation
    • Budgeting
    • Outsourced CFO services
    • Bookkeeping services
    • Strategic planning
    • Fiduciary guidance
    • Compliance for Management
  • Let Us Help You Move Forward

    Working with a provider that intimately understands your operational passion and challenges is imperative to success. Relax with confidence, knowing that our seasoned team members are here to guide your organization through the operational and compliance complexities common for many nonprofits.

NONPROFIT & EDUCATION

LEADERS

THOMAS H. MARTIN serves as the Managing Partner and is focused on serving the audit, tax, and accounting needs of manufacturing, nonprofit, education, and professional service firms.

MEET EXPERT

CHRISTOPHER S. MAYNARD is a Partner and divides his time between Klatzkin’s Newtown and Hamilton offices. He focuses on serving the audit, tax, and compliance needs of independent schools and nonprofit organizations.

MEET EXPERT

Industry Insights

Nonprofits Are Your Written Policies in Alignment with Uniform Guidance? In the last few years, the Office of Management and Budget (OMB) retooled the administrative guidance for organizations receiving federal awards. The Uniform Guidance established – among other things – that non-federal entities should have written policies and procedures in place that support their control environment. This emphasis on written policies ensures federal grants and awards are used as intended. Read Post
Photo of depositing a red heart-shaped coin into slot. Nonprofits Update: Nonprofit Gifts-in-Kind Financial Statement Reporting Rules Today, we’re able to offer an update on that post: on September 17, 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-07, Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets.  The finalized standard confirms the information we previously provided. Read Post
Advisory New Nonprofit Grant and Contribution Accounting Expectations Are Here In a surprising turn of events this spring, the Financial Accounting Standards Board (FASB) pushed back the implementation deadline for nonpublic entities recognizing revenue under Accounting Standard Codification (ASC) 606. Nonpublic entities – both for-profit and not-for-profit – were initially expected to comply with the new revenue recognition standard on reports for fiscal years beginning after December 15, 2018. Read Post

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