Accounting services and consulting for nonprofits

No one needs to tell you nonprofits have unique accounting needs—you live that reality every day. That's why working with an accounting firm experienced with nonprofits is so important. We understand the challenges you face as you strive to balance revenue streams with your organization's mission.

Adapting to financial change

It seems purse strings have tightened all over, especially since 9/11. How do you survive as your revenue stream drops off? Acting as your accounting consultants, we'll find places where you can go after additional revenue sources. Not only that, but we can advise you on ways to make ends meet—services that can afford to be cut, for instance, or other parts of your business that have become too expensive to maintain.

We analyze where the money is going, and only then do we make recommendations. If services need to be cut or modified, we'll help you determine which cuts make the most financial sense by computing the true costs of the services you're providing. (For example, maybe you're maintaining a facility on a 24x7 basis, but you have empty beds. You have too much capacity and not enough demand.) We can figure out your break-even point so that you'll know how much staffing you can afford and not have to drop a service entirely.

Budget, forecast and get grants

The ability to accurately budget and forecast is critical for nonprofits: You have to know how many people you'll be able to serve. You also must be able to pay your staff, even if it's not as much as you'd like. By delving into your accounting and costs, we'll help you figure out ways to give your staff the best benefits you can afford, and to allocate your human resources efficiently.

We can also help ensure your administrative and fundraising costs are an acceptable percentage of your overall costs, so that, when you seek grants, the contributors are happy with the integrity of your numbers.

Maintain your nonprofit status

Shannon & Associates can help you get qualified initially with your Form 1023 filing, and then make sure you stay qualified. We also do A-133 audits and HUD audits. And we can advise you on the best way to structure your nonprofit organization for optimal risk management and minimal tax liability. Having the right structure is especially important if you're affiliated with a for-profit—we'll make sure it's all legal so you don't suffer the consequences from having set it up incorrectly.