At DCM Accounting. LLC, we can help you setup and maintain your non-profit organization's tax-exempt status by handling all the IRS reporting for you.

Consultation and Set-up of your Non-Profit 501 (c)(3)

Being recognized as a Non-Profit 501 (c)(3) can be a daunting task but can also provide tremendous benefits to a group or organization.  Unbeknownst to most, Non-profit is not just limited to those most recognized by the public at large, i.e. The American Cancer Society, ALS Association, or Diabetes Foundation. 

It also encompasses school booster clubs, PTO's, or other groups who may want to solicit donations for use within an organization whose goal is not to make a profit, but to provide a benefit to members of that organization.  Being recognized as a non-profit 501 (c)(3) allows for those donations to be tax deductible for the giver.  This is a great benefit for any organizations fund raising efforts. 

If you are interested in starting a new not-for-profit organization we can help you prepare your organization's 501 (c)(3) application for tax-exempt status.

Here's what's needed... Articles of Incorporation containing the Exempt Purpose Statement as described in IRS Code section 501(c)(3) and defined in Treasury Regulation 1.501(c)(3)-1 Paragraph d and the Dissolution Statement described in Treasury Regulation 1.501(c)(3)-1 Paragraph b subparagraph 4 ("Organizational Test"). Employer Identification Number By-laws of the Organization Minutes of Board Meetings Names, Addresses, and Resumes of Board Members Names and addresses of all Active Members Inventory of Assets like cash, furniture, equipment, property, pledges... Inventory of Liabilities like mortgages, accounts payable, loans... Rent/Lease Agreements and Contracts Revenue and Expense Statements for the last four years or as far back as possible if your organization has been in existence for less than four years. Written Reason for Formation and History of the organization. Organization Mission Statement or Statement of Faith or Beliefs for Churches and other Religious Organizations. Organization Activities, Operations and Programs Documentation including your statement of purpose & operations, food programs, fundraisers, flyers/brochures/pamphlets... Financial Support Documentation including all sources of revenue like contributions, tithes, offerings, fundraisers... Fund Raising Program Descriptions IRS Processing/Filing Fee We are happy to prepare any of these items for you and provide the necessary consultation to get your organization recognized as a 501 (c)(3).

Accounting Maintenance of your Non-Profit 501 (c)(3)

Once set up as a Non-Profit 501 (c)(3) corporation, the IRS requires most tax-exempt organizations to submit the Form 990 and its relations, which includes the following items.

1. Income Statement with very specific revenue and expense categories like donations, salaries, postage, rent...
2. Balance Sheet with specific categories like cash, accounts receivable, accounts payable...
3. Functional Expense Statement with all the expenses allocated to either program services, fundraising, or operations.
4. Individual Program Expense Statement that reports all of the expenses for each program or service like seminar programs or educational mailings.
5. Revenue Support Schedules that detail the organization's sources of income in specific categories like charitable donations, membership fees, investment income.

The IRS uses these very specific revenue and expense classifications to determine if your organization can retain its tax-exempt status. It is extremely important that you build your accounting system around these revenue and expense classifications so your tax exempt status remains intact..

At DCM Accounting here is what we can do for you...

• Review and compile your financial statements
• Design, install, and maintain your Accounting System
• Weekly, bi-weekly, or monthly payroll preparation
• Payroll Tax Preparation and Deposits
• Provide training for your accounting personnel
• Complete and file your non-profit status application
• Provide training for your board on non-profit financial statement usage and effective budgeting practices
• Prepare and file the 990 and 990T tax forms
• Prepare your initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state agencies.

We are happy to prepare any of these items so that your status as a non-profit organization is maintained. 

To inquire about what we can do for you please call 602-432-6921 or email at info@dcmaccounting.com.