If you are a self-starter, have an entrepreneurial mind, and are passionate about a cause, you may have a dream of starting your own non-profit. Non-profits are places where dreams meet with innovation to create a sustainable business model. These businesses often invest in local communities, engage with important issues, or organize philanthropy. While starting a non-profit is a very attainable dream, however, it is also incredibly complex. There are many common instances where non-profit auditors can help. Contact Clifford, Ross, Raudenbush & Cooper, LLC, to find out more.
How to Start Your Own Non-Profit
In order to obtain 501-c3 status, businesses must fill out piles of paperwork. They must maintain organization and transparency in all of their actions. Once the organization has reached non-profit status, leaders must pay close attention to details and make sure not to miss anything on their taxes. Even people with the most positive, world-changing agendas can receive IRS audits. This can cause huge time delays and monetary set-backs. Accordingly, we recommend that most non-profits hire non-profit auditors to evaluate their work before submitting to the government.
Alleviating the Administrative Burden
While some non-profit organizations aren’t required to go through the auditing process, many organizations find that hiring independent non-profit auditors can save them time, energy, and frustration in the long run. Following the rules is an imperative in the non-profit world. It is easy to make innocent mistakes when sorting through the sea of numbers, facts, figures, and requirements that come with non-profit work. In Texas, specifically, non-profits that receive donations of $10,000 or more per year are required to keep records and produce a financial report that is available to the public. This report must live up to AICPA standards. with accounting so that you can easily present an accurate financial report. The mess of it all can be maddening, and the administrative side of things can sometimes steal the passion that inspired the organization in the first place!
Non-profit Auditors to the Rescue
Luckily, charitable organizations do not have to do it alone. Non-profit auditors work hard to help passionate entrepreneurs maintain non-profit status so they can continue helping the world around them. If you own a non-profit organization and have never considered hiring non-profit auditors, speaking with the team at Clifford, Ross, Raudenbush & Cooper, LLC is a great place to start! We are prepared to answer your questions, address your concerns, and alleviate some of your stress. This way, you don’t have to waste your creative energy. We know you have important dreams, and we want to partner with you to help you reach them.