Nonprofit

W&D is passionate about serving our many not-for-profit membership, health, educational, social service, religious, charitable, association and foundation clients. We are recognized industry leaders.

Chicago Nonprofit Audit, Accounting & Tax Services

W&D is proud to serve many local and national organizations which have a profound impact on those they serve.

Not-for-profit organizations, ranging from professional and trade associations to charitable organizations and foundations, operate under intense donor scrutiny and oversight from regulatory and tax authorities. Your organization must comply with best practices in accounting and financial management to protect its tax-exempt status while maintaining focus on your mission.

W&D serves not-for-profit organizations from start-ups to those with significant annual revenue, complex operating budgets and government funding. Many of our not-for-profit clientele have multiple related organizations including 501(c)3, 501(c)4 and 501(c)6 organizations, political action committees, for-profit entities and more. We are very familiar with both stand-alone and consolidated audits for not-for-profit and for-profit entities up to $500+ million in annual revenue with complex structures, national and international operations.

Warady & Davis LLP Chicago Not-for-Profit CPA Team

Warady & Davis has a dedicated, multi-disciplinary not-for-profit team. This team is comprised of audit, accounting, tax, and consulting professionals with not-for-profit, governmental and foundation experience. Specialized training, including Yellow Book certification, and a consistent team provide valuable insight as we conduct audits and provide business counsel to our not-for-profit clients. W&D team not-for-profit team members also attend professional conferences to further enhance their knowledge.

Members of W&D’s Not-for-Profit team are involved in related industry organizations including the Association Forum and the Illinois CPA Society’s Not-for-Profit Committee and Audit Sub-Committee, wherein Susan Greggo, CPA, Partner-in-Charge of Not-for-Profit Services served as immediate past Chairperson.

Types of local and national nonprofit organizations served:

  • Professional Trade & Membership organizations - 501(c) 6
  • Charitable organizations - 501(c) 3
  • Health and scientific research organizations
  • Arts & educational institutions
  • Environmental organizations
  • Social welfare
  • Public policy and advocacy
  • Religious organizations
  • Foundations

Nonprofit & governmental services:

W&D's nonprofit CPAs provide a comprehensive range of services to not-for-profit clientele including audit, tax, accounting and consulting. We understand your needs as a not-for-profit organization to be in compliance with applicable laws and regulations, reporting deadlines, and to be fiscally prudent.

  • Audit, Review & Compilation
  • Single audit
  • New accounting pronouncements and IRS developments
  • Not-for-Profit and association specific management advisory services
  • Donor restrictions
  • Budget review & analysis
  • Preparation of IRS Form 990, 990T and applicable state returns
  • Preparation of IRS Forms 1023 and 1024 for tax exemption
  • Establishment of funds
  • Employee benefit plan audits
  • Accounting assistance
  • Special procedures/due diligence
  • Grant funding requirements - Federal, state, pass-through & private
  • IRS Section 501(c)(3) status
  • Internal accounting controls
  • Internal audit
  • Not-for-Profit consulting
  • IRS Form 5500
  • Bookkeeping

Governmental audit and accounting compliance requirements

W&D has wide-ranging experience in governmental and not-for-profit accounting and auditing including experience auditing under Government Auditing Standards and the Single Audit Act.

W&D’s Not-for-Profit Team has knowledge of federally and state sponsored programs, which is an important factor in our ability to service not-for-profit organizations. We understand compliance with the Single Audit Act and have assisted clients in complying with these complex requirements.

We currently provide audit services to many organizations who receive federal funding and others who receive state and local government agency funds. All of our senior audit engagement team members are Yellow Book certified.

W&D is a member of the AICPA’s Governmental Audit Quality Center which is primarily focused on ensuring quality standards for governmental audits including single audits, financial statement audits of both governments and not-for-profit organizations, and audits performed under the HUD Consolidated Audit Guide.

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