Operating a nonprofit or not-for-profit organization can be a bit daunting, as they operate differently from other businesses. Luckily, Muñoz CPA offers high-quality nonprofit accounting for small businesses located in McAllen, Edinburg, Pharr, Mission, and the wider Rio Grande Valley all at an affordable cost.
Our number one goal at Muñoz CPA is to remove the financial stress from our clients’ lives and help them achieve their business goals. We can help you create the necessary bookkeeping and accounting systems for your nonprofit or not-for-profit organization, and prepare your organization’s 501 (c)(3) application for tax-exempt status.
Not for you? Learn more about our other Accounting Services.
Set Up Your Tax Exempt Status
In order to set up and maintain your tax exempt status, your organization must meet very specific expense and income classifications. The IRS determines your eligibility with the following:
Yearly Income Statements
- Categorizing specific expense and revenue details such as donations, salaries, postage, rent, etc.
A Yearly Balance Sheet
- Including cash, accounts receivable, and accounts payable.
Individual Program Expense Statements
- Detailing every expense for each program, service or seminar, including things like educational mailings.
Revenue Support Schedules
- Detailing charitable donations, membership fees, and investment interest.
The IRS uses these very specific revenue and expense classifications to determine if your nonprofit or not-for-profit organization will retain its tax-exempt status. Our certified public accountants understand the complexity of these classifications, and uses them to build a reliable accounting system for your nonprofit or not-for-profit organization.
IRS giving you trouble? Read more about our IRS Audit Representation service.
Other Nonprofit Accounting Services
Muñoz CPA offers the following nonprofit and not-for-profit accounting services for small businesses in the Rio Grande Valley:
- Review and compile your financial statements
- Weekly, bi-weekly, or monthly payroll preparation
- Payroll Tax Preparation and Deposits
- Provide training for your accounting personnel
- Complete and file your non-profit status application
- Provide training for your board on nonprofit financial statement usage and effective budgeting practices
- Prepare and file the 990 and 990N tax forms
- Prepare your initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state agencies.
Schedule a FREE Consultation Today
To learn more about how our nonprofit accounting services can help your small business, schedule a FREE consultation with one of our certified public accountants today.