Nonprofit Audit Services
Altruic Advisors provides independent audits, reviews, and compilations for nonprofit organizations. Organizations receiving state or federal funding are often required to undergo an annual audit. Audited financial statements are also a frequent stipulation of grant applications. Even when it’s not required, an independent audit is a valuable way to demonstrate financial transparency and accountability to your donors.
When conducted by traditional accounting firms - which may not be as familiar with the intricacies of nonprofit finance - audits can frequently become frustrating and expensive. But with decades of experience in auditing nonprofits, we’ve learned that most audit problems arise from unclear expectations and inefficient fieldwork. We’re able to keep costs low through a proactive approach that emphasizes straightforward communication and intensive preparation.
We tailor every audit by starting with a clear understanding of your structure and mission. After agreeing upon a timeline and determining the involvement of various departments, we initiate ongoing communication to keep everyone informed. This ensures that the audit process moves forward at a brisk pace.
Contrary to the old-fashioned way of performing audits, most of our work is planned in advance and completed off-site. We test controls, conduct interviews, perform walkthroughs and assess risk before our on-site fieldwork begins. This approach helps us maximize our on-site time and reduce the impact on your staff.
Sometimes, a full independent audit is not necessary. Many organizations can satisfy their requirements with a less expensive financial statement review. A compilation can also be helpful for organizations who require neither an audit or review. Altruic Advisors will always provide alternative options if we believe they will meet your organization’s needs at a lower cost to you.
Nonprofit Form 990
The Form 990 is an annual informational return for not-for-profit organizations that provides financial data to the IRS and to the public. Altruic Advisors prepares and files Form 990s for a broad range of nonprofit organizations. Our comprehensive understanding of nonprofit finance allows us to make specific recommendations that improve the presentation of your Form 990. And with digital document signatures and electronic filing, we can avoid delays and ensure deadlines are met.
Attest services may require site visits from our team of nonprofit accountants and auditors. As such, these services can only be provided in locations where Altruic Advisors has an active staff presence.