Integrated solutions for not-for-profit and educational organizations

CohnReznick’s integrated accounting, tax, and advisory capabilities form the foundation of our relationship. In addition, because we understand the intricate reporting challenges facing not-for-profit organizations, we have developed unique capabilities to serve the industry:

SUPPORT FOR NEW ACCOUNTING STANDARDS IMPLEMENTATION

Every not-for-profit must meet the requirements of the Presentation of Financial Statements of Not-for-Profit Entities (ASU-2016-14) issued by the Financial Accounting Standards Board (FASB).  Not-for-profits may also be required to adopt new standards for leases, revenue recognition, and other accounting rule changes imposed by FASB. CohnReznick will build comprehensive training and implementation strategies for your organization, work with you to draft, review, and revise pro-forma financial statements, and help prepare the requisite disclosures.

NOT-FOR-PROFIT TAX REQUIREMENTS

Obtaining and maintaining tax-exempt status is essential to organizations. CohnReznick has a dedicated Exempt Organizations Tax Services practice that provides specialized expertise in the compliance and reporting obligations of Form 990 or Form 990-PF and ASC 740 (FIN 48). We can also assist you with corporate structuring, state and local tax issues, Unrelated Business Income Tax (UBIT) and foreign tax compliance.

SPECIALIZED AUDITS

As part of our assurance offering, we provide financial, Yellow Book, OMB Uniform Guidance Compliance, HUD, CFR,  and DOE and other audits.