Nonprofit Organizations

Nonprofits have to make every dollar count. Faced with increased funding competition, evolving technology, and changing regulations, nonprofits rely on Templeton to understand their many special audit, tax and operating requirements.

Considered one of the outstanding professional services firms serving South Florida’s nonprofits, Templeton provides organizations of all sizes with high quality audit, accounting, consulting, tax and advisory services and solutions that are customized to each nonprofit’s unique concerns and issues.

Our Nonprofit Clients Include:

  • Charitable and service organizations
  • Civil, cultural and social organizations
  • Educational Institutions
  • Faith-based organizations, houses of worship
  • Foundations
  • Healthcare providers
  • Membership and trade organizations
  • Museums
  • Religious organizations
  • Sports, recreational and youth programs

In addition, having provided support services and solution demonstrations, system installation and customized training, Templeton has a technical understanding of business management and accounting solutions not available from most computer support organizations.

Our Services Include

  • Audits of financial statements in accordance with GAAP, the Yellow Book, the Single Audit Act, OMB Circulars, and various funding agencies.
  • Strategic planning and trend analyses.
  • Consultation services, including design and implementation of fund structures and charts of accounts.
  • Assistance with design and implementation of accounting and internal control systems, policies and procedures, and training personnel.
  • Consultation, design and implementation of computer systems with a special emphasis on MAS 90 accounting software.
  • Preparation of required reports for various funding agencies, including Mental Health and Mental Retardation Programs, Children and Youth Social Services, Long-term and Intermediate Care Facilities, Departments of Health and Human Services, Housing and Urban Development, and Public Welfare.
  • Preparation of federal and state tax and information returns, including private foundations.
  • Consultation on the most recent regulatory and legislative developments.
  • Consultation and advisory services on tax-related issues, including maintaining tax-exempt status and strategic planning.

The firm is a member of the AICPA’s Governmental Audit Quality Center demonstrating our commitment to the quality performance of not-for-profit, governmental and Uniform Guidance assurance engagements.

NONPROFIT BLOG

IRS Issues Final Regulations on UBTI “Silos”

By Marc Berger, CPA, JD, LLM On Dec. 2, 2020 the U.S. Treasury and IRS published final regulations under Internal Revenue Code (IRC or Code) Section 512(a)(6), the provision requiring tax-exempt organizations with more than one unrelated trade or business to calculate unrelated business taxable income (UBTI) separately with respect to each trade or business. […]

Nonprofits Have Additional Time to Comply with New Lease Accounting Standards

By Lee Klumpp, CPA, CGMA In 2016, the Financial Accounting Standards Board (FASB) updated its lease accounting rules (ASC 842) and closed a diversity in practice in the previous standard. The major change is that organizations must now include lease assets and liabilities on their balance sheets. The upshot is that despite a recently granted […]

IRS Proposes Excise Tax Relief for Exempt Organization Executive Compensation Under Code Section 4960

By Marc Berger, CPA, JD, LLM, Alex Lifson, MBA, MST, Norma Sharara, JD, and Joan Vines, CPA In June 2020 the IRS proposed regulations under Internal Revenue Code (IRC) Section 4960 that, among other things, would allow certain tax-exempt organizations and related for-profit entities to avoid paying 21% excise taxes on certain executive compensation. Even […]