We offer a wide range of services for over 100 nonprofit organizations of all sizes, from those with revenues in excess of $50 million to those well below the million dollar mark where an audit is not required.
Our goal is to provide services that will enable organizations to further their missions in serving their communities. Our experience with and knowledge of audit and grant requirements can reduce the impact of an audit on your organization.
Many GDS staff members have direct experience working within nonprofits, managing the day-to-day operations. Many also currently serve on Boards of Directors for nonprofit organizations. This inside perspective gives us a clear understanding of how an audit itself, as well as the results and final product, can affect our clients.
Services for Nonprofit Organizations
Any package of services includes advice about changes in the funding or regulatory environment as well as suggestions and honest appraisals about transactions or situations that may arise during your course of operation.
Audited Financial Statements
- Generally Accepted Accounting Principles (GAAP)
- Generally Accepted Governmental Auditing Standards (GAGAS)
- Yellow Book Audits
- Uniform Guidance Audits (Single Audits)
- U.S. Department of Housing and Urban Development (HUD)
- Connecticut Housing Finance Authority (CHFA)
- Employee Retirement Income Security Act (ERISA)
Other Financial Requirements
- State of Connecticut Departmental Grant Audits
- State of Connecticut Departmental Compliance Supplements
- State of Connecticut Departmental Special Reports
- Cost Allocation Formulas
- Agreed Upon Procedures
- Cash Flow Management – including educating bankers on the unique nature of nonprofit organizations
- Internal Control Systems – including Federal Compliance
- Assistance with Budgetary Requirements of Grantors
- Fringe Benefit Planning – including Self-Funded
- Networking with other clients facing similar problems
- Use of Multiple Related Corporations or Trusts
- Federal and State Income Tax Returns including Internal Revenue Service Form 990
- Filing or Review of Attorney Prepared Applications for Federal and State Exemptions
- Buy/Sell Consulting