Our Services

Financial Statement Assurance Services

Donors, Board of Directors and other financial statement users need the highest level of assurance that your financial statements are fairly presented in conformity with Generally Accepted Accounting Principles. The world of not-for-profit accounting has become a balancing act of maintaining an organization’s mission on smaller budgets, increased regulatory scrutiny, and complex public and private funding sources. Huberty and Associates, S.C. provides timely, comprehensive audit, accounting and management services to dozens of not-for-profit entities including foundations, arts, civic, cultural, educational and health and human services organizations. Financial statements are prepared in accordance with Generally Accepted Accounting Principles as determined by the Financial Accounting Standards Board, as well as state statutes and regulations.

Donor Restrictions

Restricted contributions allow donors to direct how their gifts are to be spent. It is vital that your donors trust that their funds are being used according to their directives. However, handling restrictions on contribution revenues is one of the most difficult record-keeping areas for not-for-profit organizations. Our audit professionals are fully trained to assist you with the accounting and reporting practices associated with this issue.

Tax Compliance and Consulting Services

Income tax laws and regulations for not-for-profit organizations are complex. Increased public interest and scrutiny result in not-for-profits needing seasoned and informed professionals to assist with their tax compliance. Our background and experience dealing with tax law for not-for-profits can assist you in many areas of tax planning and compliance, both at year-end and throughout the year.

Our services include:

Compilations, audits and reviews
Provider Agency Audit Guide audits
Single Audits
Consulting on application and tax-exempt status
Exempt Status Applications
Preparation of nonprofit federal and state tax returns
Preparation of federal tax returns and advisory services for private foundations
Financial operations analysis
Technical assistance with fiscal policies and procedures
Accounting and bookkeeping
Board and governance fiscal training
Accounting software selection and training

Not-for-profit areas served:

Advocacy groups
National and local public charities
Foundations
Community Based Residential Facilities (CBRF)
For-profit subsidiaries
Unions
Fraternal organizations and private clubs
Professional societies
Healthcare organizations

Community Based Residential Facilities (CBRF)

The CBRF laws require specific compliance in order to receive government funding, and we have specialized auditing knowledge on CBRF compliance and program eligibility. Our auditors are experienced in auditing all aspects of CBRF programs, including:

Allowable costs
Allowable profit compliance
State and county compliance
Expense allocations

Audit Committee Member Toolkit

This toolkit for not-for-profit organizations, from the American Institute of Certified Public Accountants, is the needed help for audit committees to do the job they need to do as effectively and efficiently as possibly.

AICPA Audit Committee Toolkit