Tax Preparation
Avenson Hamann believes in the adage “knowledge is power.”
We want to do more than just make sure your organization is in compliance with regulations — we want to help you make better decisions by understanding the financial and tax impact of your ideas.
Maintaining exempt status must be the driving force behind your operational decisions, and we can guide you through any questions or challenges you have.
Our skills and passion for helping nonprofits can be a valuable resource for your team!
Some of the tax services we provide:
- Preparation of Form 990, 990-T, 990-PF and state tax returns
- Preparation of Form 1023 or 1024 to apply for exempt status with IRS
- Presentations related to nonprofit tax and accounting issues
- Consulting related to accounting software selection and organizational systems
- Accounting and tax services for churches and other faith-based organizations
- Applying for private operating foundation status
- Assessing potential issues with Unrelated Business Income
- Representation during an IRS audit
- Communication with IRS on behalf of the organization
- Evaluating new program service activities for potential tax risks
- Assistance with tax issues related to mergers and dissolution
Financial Statements
Many funders and boards of directors require some level of independent CPA assurance on financial statements. Our services help your organization comply with reporting rules and ensure financial transparency for third parties. While we don’t offer audit services, we can help you through the audit process and evaluate audit proposals.
Some of the financial services we provide:
- Compilations of financial statements
- Presentations related to nonprofit tax and accounting issues
- Assist with auditor selection process, including drafting a Request for Proposal
Organizational Formation
Starting a new nonprofit is an exciting time, but there are plenty of challenges as well. Avenson Hamann can assist in evaluating options and providing tax advice.
We’ll help get your organization headed in the right direction by:
- Explaining tax implications of various types of nonprofit structures and working closely with your attorney
- Helping choose the right attorney to organize the legal entity
- Applying for an Employer Identification Number (EIN)
- Providing professional guidance and hands-on assistance throughout the process
- Preparing the IRS application for exempt status
- Educating your board members on how to understand nonprofit financial issues
Consulting
We provide a balanced approach to nonprofit consulting, combining the practical, well-rounded perspective of a nonprofit controller with the technical knowledge and planning skills of a nonprofit tax advisor. This broad perspective helps ensure our services are designed to meet your most critical needs.
We understand that furthering your mission is paramount, and we want to help your mission thrive by consistently protecting your organization’s exempt status, setting up proper accounting systems and helping you present an accurate picture with financial reporting.
Our consulting services help guide you and your team by:
- Developing processes and procedures to meet your accounting needs
- Reviewing your chart of accounts structure and making recommendations to maximize usability for management
- Assessing financial risks associated with proposed transactions
- Providing advice on accounting department staffing needs and job duties
- Providing customized Internal Controls recommendations
- Recommending customized best practices
- Evaluating accounting software needs and assisting with the selection process
Outsourced Controller/CFO Service
Need something as infrequent as a third-party reconciling your bank account monthly or quarterly meetings with management to discuss financial activity? We can assist with that, too.
Whether you are growing or looking to fill a temporary gap in your full-time staffing, Avenson Hamann can provide a solution for managing your accounting department and financial processes by:
- Preparing financial statements
- Providing oversight of accounting staff on a regular basis
- Creating budgets
- Managing cash flow
- Reviewing monthly close processes
- Implementing best practices
- Creating and maintaining appropriate financial policies
Training
Avenson Hamann offers convenient accounting and software training in your office or virtually so we can fully assess your specific needs and help you develop appropriate solutions.
We help improve efficiency and effectiveness for your business with the following services:
- Assistance selecting and implementing accounting software that is right for you, with over ten years of QuickBooks® experience and familiarity with other popular software including many cloud-based options
- Working with you and your staff to understand how to use the software
- Training board members about fiduciary duties and excess benefit transactions
- Training staff about accounting responsibilities