PKF O'Connor Davies Accountants and Advisors
PKF O'Connor Davies Accountants and Advisors
Industries

Religious Organization Accounting & Consulting

Managing everyday operations strains both the patience and the budgets of those working on behalf of today’s religious organizations. Dealing with increasing regulatory requirements and cybersecurity threats is challenging – as are demands to generate supplemental revenue while expanding financial transparency and internal control effectiveness. Performing optimally is difficult enough without the scrutiny of stakeholders, donors, a governing board and congregation members.

For support through these complex issues, and others, our clients rely on our specialists whose deep familiarity with the non-profit sector equips us to deliver the precise support that religious groups need, often without jeopardizing existing human and economic resources.

A Responsive, Cost-Efficient Approach

The Partners and professionals in our Religious Organizations Practice are recognized for their broad experience within this sector and for their proficiency in relevant state and federal regulations. Each team is led by a Partner who is actively involved in the engagement and serves as a direct liaison to other Firm professionals who lend their expertise, as warranted, in areas from accounting and tax compliance to IT and cybersecurity. This proven approach enables us to deliver comprehensive support, typically at costs lower than those of our larger counterparts.

Providing outstanding audit, tax and advisory expertise to religious and other non-profit institutions since 1891.

Not-For-Profit Tax Proficiency

Religious organizations are tax exempt and generally not required to file an annual IRS Form 990. Nevertheless, they benefit from our extensive experience in the tax laws governing exempt organizations. Our specialists regularly assist clients in the preparation of annual tax filings at both the federal and state levels. We represent clients before the IRS in response to audits and other notices and serve as the “professionals of choice” for those applying for either an initial tax exemption or a change in classification.

Advising on complex transactions, we help clients maintain exempt status and minimize exposure to unrelated business tax or corporate taxes on controlled entities. In addition, our professionals are familiar with public support and foundation issues, foreign grant-making intricacies and similar matters that affect exempt organizations.

Our focused religious organization experience, as well as best practices expertise, are powerful assets to our church and faith-based clients. Our services include:

Audit Services

  • CARES Act, Paycheck Protection Program Loan and Employee Retention Credit benefits
  • Donor-Restricted Contributions and Net Assets Schedule Maintenance
  • Capital Campaigns
  • Development and Fundraising, Including Donor Communications
  • Prudent Management of Institutional Funds Act Compliance
  • Day Schools
  • Retirement Issues
  • Unrelated Business Income
  • Board Governance

Tax Services

  • Federal and State Tax Filing
  • Employment Tax Issues
  • IRS Representation
  • Initial Tax Exemption Application
  • Classification Change Application
  • Unrelated Business Tax
  • Controlled Entity Corporate Tax
  • Public Support and Foundation Issues
  • Foreign Grant-Making Complexities

Advisory Services

  • Risk Advisory
    • IT Audit and Governance
    • Cybersecurity Programs, Vulnerability and Penetration Testing
    • Transactional and Financial Advisory
    • Forensic Litigation Valuation
    • Transaction Advisory
  • Management Advisory
    • Organizational Structure, Design and Operations Reviews
    • Internal Control Structure and Design Reviews
    • IT Design and Controls Assessments
    • Portfolio Accounting and Reporting
    • Strategy Consultation
    • Business Process Improvement
    • Whistleblower Projects
    • Grant Reporting
    • Cost Reporting
    • Outsourced Accounting