Typical businesses are set up to generate profits for shareholders whereas nonprofits are focused on providing needs in their community or society. Instead, they are beholden to board members and more importantly their mission. This transparency grants non-profits a tax exemption status.

Keeping Up With Non-Profit Account Standards

We recommend following and adhering to the standards set by the American Institute of Certified Public Accountants (AICPA) and the Financial Accounting Standards Board (FASB) for nonprofits. These standards are kept up to date with the latest laws to ensure you stay in compliance.

Revenues & Expense For Non-Profits

While nonprofits are not reporting to stakeholders, it’s important to track your revenue and expenses. With revenue coming in through donations, programs, sales, membership fees, grants, and fundraisers, a streamlined system will ensure that you are able to provide the community with an accurate outlook for the mission’s future.

Are you a nonprofit or in need of outsourced accounting or bookkeeping services? We work with you too! CONTACT US FOR A FREE 30-MINUTE CONSULTATION.

Contact Us

9701 Apollo Drive, Ste 301
Upper Marlboro, MD 20774
(240) 334-6167
(240) 904-8200