Not-for-Profit Audit Services

Build Trust and Ensure Compliance

Nonprofit audits are crucial for keeping your organization transparent and protecting your tax-exempt status. Our team has over 20 years of experience in non-profit and single audit engagements.

  • Audit Financial Statements: Ensure your financials meet all industry standards and regulatory requirements.
  • Ensure Tax-Exempt Compliance: Stay compliant with IRS regulations and protect your tax-exempt status from penalties.
  • Review and File IRS Form 990: Ensure accurate and timely filing of IRS Form 990 to meet federal requirements.
  • Comply With Federal Requirements: Ensure timely uploads of single audit financials to the Federal Audit Clearinghouse.
  • Reporting to Board Members: After the attest services are complete, a team member will present the review or audit to your board members and answer any questions they may have.
  • Industry Updates: Ensure the latest industry changes are communicated to your organization’s board. As members of AICPA and the state associations of CPAs for Montana, Hawaii, and Utah, we have access to the most up-to-date information and industry standards.

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501c3 Not-for-Profit (Non-Profit) Audit Compliance

Running a not-for-profit requires navigating complex financial and regulatory landscapes, with transparency as a top priority. A 501(c)(3) audit ensures compliance with IRS regulations, maintains donor trust, and upholds financial integrity. More than just a requirement, a well-conducted audit safeguards your mission, confirming that every dollar is used efficiently and appropriately.

Our team specializes in serving not-for-profits and follows the highest standards set by the American Institute of Certified Public Accountants (AICPA). We understand the unique challenges of maintaining tax-exempt status, managing restricted funds, and meeting grant compliance. With decades of experience in the sector, Linked Accounting provides thorough audits tailored to your organization’s needs.

Why 501c3 Audits Matter

For not-for-profits, financial health and compliance are critical. A thorough audit conducted by a CPA offers several key benefits:

  • Audits provide assurance that your financial statements are accurate and that donor funds, especially restricted contributions, are being properly managed and reported.
  • Regular audits help ensure your organization remains in good standing with the IRS, particularly regarding your tax-exempt status and the proper filing of Form 990, the annual IRS filing required for tax-exempt organizations.
  • Many grants and large donations require audits to verify financial stability. An audit shows that your organization meets the necessary accounting and regulatory standards to qualify for continued support.

What’s Involved in a Non-Profit Audit

A not-for-profit audit is a detailed, independent review of your financial records, conducted in accordance with Generally Accepted Auditing Standards (GAAS) as set by the AICPA. The audit process typically includes:

  • A review of key financial documents, including the balance sheet, income statement, and cash flow statement, to ensure accuracy and adherence to Generally Accepted Accounting Principles (GAAP), the standard guidelines for financial reporting.
  • An assessment of internal controls, focusing on processes like cash handling, disbursements, and segregation of duties, to help prevent fraud and ensure financial responsibility.
  • A review of your adherence to 501(c)(3) guidelines and IRS requirements, ensuring proper management of restricted funds, grants, and donations.

More Than Just Compliance: How Audits Improve Operations

Audits provide more than just compliance—they offer opportunities to improve your organization’s financial health:

  • Auditors can detect inefficiencies or potential areas of risk in your financial processes, helping you mitigate issues before they become costly problems.
  • Audits offer insights into how you manage and allocate your resources, helping you find ways to improve operational efficiency and maximize impact.
  • Recommendations from an audit can enhance the oversight and governance of your financial practices, making your organization more resilient and sustainable over the long term.

How Linked Accounting Can Help

As non-profit auditor, we provide thorough, consistent audits ensuring compliance with IRS regulations and strengthening financial practices. Our team’s commitment to zero turnover ensures you’ll work with the same dedicated experts year after year, allowing us to build a deep understanding of your organization.

With offices in Utah, Montana, and Hawaii, we serve clients nationwide. We help not-for-profits of all sizes meet donor and grantor expectations while safeguarding financial health.

Contact us for tailored non-profit accounting solutions.

Frequently Asked Questions

What does a non profit audit consist of?
What is the difference between a 990 and an audit?
Does the IRS audit small nonprofits?
How far back can the IRS audit a 501c3?
Who bears the cost of an audit?
Do small charities need to be audited?
What is the difference between a nonprofit audit and a review?
How often should a nonprofit be audited?
How much can you donate to charity without being audited?
Are nonprofit audits public record?

Additional Services

Laura Weston

Partner, Audit

Laura Weston, CPA, brings over 20 years of audit and business advisory experience, including roles as a controller for both a manufacturing and a real estate investment company. She specializes in serving clients across various industries, including real estate, manufacturing, franchising, ERISA, and not-for-profit organizations. Laura also provides litigation support, helps strengthen internal control policies and procedures, and conducts due diligence for acquisitions and sales. Laura holds a Master’s degree in Business Administration from Utah State University and is a member of the American Institute of Certified Public Accountants. She is licensed as a CPA in both Utah and Hawaii. Outside of work, Laura enjoys traveling and spending time outdoors with her husband and two children.

Non-Profit Audit Specialists Dedicated to Your Mission

With extensive experience in this sector, we ensure that your financial statements meet compliance standards while maintaining the highest level of transparency. Our approach addresses common nonprofit-specific challenges like grant compliance, restricted fund management, and operational efficiencies, helping you demonstrate accountability to your donors and stakeholders.

  • Grant Compliance: Verifying adherence to grant conditions and ensuring proper use of funds.
  • Restricted Fund Management: Ensuring accurate tracking and usage of donor-restricted funds.
  • Operational Efficiency: Identifying ways to streamline financial operations for better outcomes.

We understand the nuances of nonprofit accounting, offering in-depth audit services that ensure your organization is not only compliant but also positioned to thrive.

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