Non-Profit Tax Filing and Accounting Support

Non-profits and trade associations have unique tax and reporting requirements. CPAs and tax attorneys at Bailey, Stube & Glaser specialize in tax compliance of non-profits.

Startup non-profit organizations need assistance with obtaining a non-profit status from the IRS and charitable organization status from the state. Once properly registered, ongoing maintenance provides accounting support leading to meeting IRS requirements for accounting methodology, proper financial statements fulfilling the prerequisites for receiving federal grants, annual reports showing the organization’s budgets, net worth, and operational spending and complete tax filing including the IRS form 990.

Nonprofit vs. For-Profit Businesses

Unlike traditional companies that profit from the services they provide, non-profit organizations rely on revenue received from membership dues, fundraising events, corporate and private donations, grants, and investment income. While non-profits can earn consistently high revenue from donations or other fundraising efforts, their purpose goes above and beyond making a profit, and all money earned must benefit the organization. 

Nonprofit organizations exist in many different forms, such as trade associations, chambers of commerce, religious organizations, educational or health institutions, and art foundations. Non-profit organizations are exempt from paying most taxes, though they are subject to a variety of other regulations. These are put forth by the IRS and need to be closely adhered to in order to maintain tax exempt status.

For any non-profit organizations that participate in activities not considered as regular funding and functions of their organization, BSG’s CPAs are able to help plan for and pay any necessary taxes. BSG meets all needs of nonprofits with comprehensive and attentive tax and accounting services in Fairfax and the neighboring communities of the Washington D.C. metropolitan area. 

Schedule a consultation with our non-profit accountants today to find out how we can help you remain compliant and operate in spite of occasionally limited resources.