Nonprofit Accounting, Tax & Advisory Services
Accounting For Nonprofit Organizations
Nonprofit organizations face complex financial, regulatory, and operational challenges at every stage of their lifecycle. From maintaining tax-exempt status to meeting reporting requirements and preparing for audits, the demands on leadership and finance teams continue to grow.
At Rubino, we provide specialized nonprofit accounting, tax, and advisory services to help organizations stay compliant, operate efficiently, and focus on their mission with confidence. Our nonprofit accounting professionals work with organizations throughout the United States, helping charitable organizations, associations, and foundations navigate complex financial reporting and regulatory requirements. From our Washington DC area headquarters, we provide nonprofit audits, Form 990 tax services, grant compliance support, and outsourced accounting solutions to nonprofits nationwide.
Rubino has worked with nonprofit organizations for decades. We understand how the stewardship of financial resources is essential to the success of your organization. We provide tailored assurance, tax, and advisory solutions, including:
Since our founding in 1980, Rubino & Company, Chartered has been organized around exceptional client service and our commitment to our employees.
Who We Serve
We work with a wide range of nonprofit organizations, including:
- Charitable organizations
- Private foundations
- Trade associations
- Professional associations
- Religious organizations
- Educational institutions
- Social welfare organizations
- Business leagues
- Veteran’s organizations
Our experience across the nonprofit sector allows us to tailor our approach to the specific needs, structure, and goals of each organization.
Nonprofit Services Overview
Nonprofits require a combination of accounting, tax, and advisory services to operate effectively. Our integrated approach ensures your organization has the support it needs across all areas of financial management.
We understand the ongoing unique strategic and financial issues that the nonprofit industry faces. Nonprofits face a challenging environment with competition for donors, grant funding requirements, and the myriad of regulations associated with federal grant funding.
With Rubino’s experience and commitment to the nonprofit industry, we offer the following nonprofit services:
Outsourced Accounting For Nonprofits
Accounting is a time-consuming task, and nonprofit leaders typically can’t allocate enough time to do it properly. With our outsourced nonprofit accounting, you don’t have to worry about keeping track of your funds, expenses, and donations—we do it for you.
Rubino knows that running a nonprofit is demanding, and we want you to focus your time and efforts on your mission and community. If you feel tasks like accounting keep you away from focusing on your organization’s goals, Rubino’s outsourced accounting for nonprofits will get you back on track.
What Our Clients Say
Executive Director
National Safe Boating Council
Nonprofit Audit & Assurance Services
Nonprofit organizations are often required to have an audit, driven by board and bylaws, foundation or state fundraising requirements, or under the federal government OMB Circulars. Potential donors and funders need assurance that your organization’s financial practices meet standards, whether driven by the federal government, state authorities, donors, or foundations. Regular audits help nonprofit organizations build a reputation for integrity, transparency, and compliance with regulations.
We provide independent, objective audit services of your organization’s financial statements, and help ensure compliance with accounting, regulatory, and financial reporting requirements. In addition to providing reliable information, financial statements and compliance audits assist your organization in its reporting to donors, funders, government agencies, lenders, and other stakeholders.
Nonprofit Tax Services
Nonprofit organizations must meet ongoing IRS and state filing requirements to maintain tax-exempt status and avoid penalties.
Our nonprofit tax services include:
- Form 990 preparation and filing
- Tax compliance and reporting support
- Unrelated business income (UBI) analysis
- IRS and state filing guidance
Learn more about our Nonprofit Tax Services
Nonprofit Advisory Services
Our team has extensive and practical experience in charitable organization operations, strategy, governance, risk management, and general business consulting. We deliver services designed to help implement new standards and systems, strengthen governance, improve productivity and efficiency, and manage risks and costs. We have assisted clients with optimization of cost allocations, NICRA submissions, due diligence, business combination reviews, endowments, and many other areas where we can supplement your resources.
We’re Dedicated to Nonprofit Organizations
Nonprofit Accounting Services
Accurate financial reporting and day-to-day accounting are essential for nonprofit transparency and decision-making.
We provide:
- Bookkeeping
- Financial Reporting
- Monthly Close Support
- Year-End Close Support
- Cash flow Monitoring
- Outsourced Accounting Services
Common Nonprofit Challenges
Nonprofit organizations often face complex and evolving financial and compliance requirements. Our team helps address challenges such as:
- Navigating IRS and state compliance requirements
- Maintaining accurate and timely financial reporting
- Preparing for audits and regulatory reviews
- Managing limited internal accounting resources
- Adapting to growth and increasing complexity
By addressing these challenges, we help organizations reduce risk and operate with greater confidence.
Frequently Asked Questions (FAQs) For Nonprofit Services
Answer: Audit requirements vary by state and funding sources. Some states require audits based on revenue thresholds, and some grantors or donors may require them as a condition for funding.
Answer: The audit timeline varies but typically takes 4-8 weeks, depending on the complexity of the organization and the availability of documentation.
Answer: The audit process typically includes:
- Planning & Risk Assessment – Understanding the nonprofit’s operations and identifying risks.
- Fieldwork – Reviewing records, testing transactions, and evaluating controls.
- Drafting Reports – Preparing financial statements and audit reports.
- Finalization & Presentation – Discussing findings with management and the board.
Answer:
Nonprofits should keep detailed records of:
- Donations and grants
- Expenses and disbursements
- Payroll and employee records
- Annual tax filings
- Meeting minutes
- Articles of incorporation
- Bylaws and any amendments
- Policies and handbooks
Answer: The IRS generally recommends keeping financial records for at least 7 years. Key documents, such as tax-exempt status determination letters, governing documents, 501(h) elections, etc., should be kept permanently.
Answer: If a nonprofit fails to file a required Form 990 for three consecutive years, the IRS will automatically revoke its tax-exempt status. The organization will then need to reapply for tax-exempt status.
For a complete list of Nonprofit Services FAQs, please click here.
