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Not-For-Profit
Organizations One of the firm's
specialties and areas of expertise is working with not-for-profit, tax
exempt organizations. We understand how not-for-profit
organizations operate, and we are knowledgeable about the unique
challenges that not-for-profit organizations face in managing their
short-term operations while working toward their long-term goals.
Our not-for-profit industry specialty group is experienced in accounting
for and advising not-for-profit organizations in areas that are unique
to their industry, such as:
 | Preparation of financial statements in
accordance with Statements of Financial Accounting Standards Nos. 116
and 117 |
 | Unrestricted, temporarily restricted, and
permanently restricted contributions |
 | Unrestricted, temporarily restricted, and
permanently restricted net assets |
 | Release of restricted net assets |
 | Board-designated net assets |
 | Capital campaigns and other fund-raising events
and campaigns |
 | Pledges receivable |
 | Accounting for investments by not-for-profit
organizations |
 | Government and private grants |
 | Audits in accordance with Government Auditing
Standards and Office of Management and Budget Circular A-133 |
 | Sponsorships |
 | Agency transactions |
 | Fund-raising costs |
 | Reporting of related entities by not-for-profit
organizations |
 | Contributed services |
 | Parents' organizations at private schools |
 | Tuition deposits and unearned tuition at private
schools |
 | Salary payment options for teachers |
Our tax accountants are experienced with
preparation of the information tax returns required of not-for-profit
organizations by the Internal Revenue Service. They can also
assist your organization with planning and the minimization of
unrelated business income taxes and excise taxes.
Williams Benator & Libby, LLP is a Gold Level
Blackbaud Solutions Provider for "The Financial Edge", Blackbauds's
accounting software, and we have practical experience with "The Raiser's
Edge", Blackbaud's fund raising software. Blackbaud is a leading
provider of software for not-for-profit organizations.
We take pride in the successful working
relationships we consistently achieve with our audit clients. Our
auditors are attuned to our client's needs and respectful of the demands
of their daily routines. We strive at all times to minimize
disruption of our client's staffs during the audit process. Audit
engagements are planned in sufficient detail to enable your personnel to
provide maximum client assistance, thereby reducing your audit costs.
Continuity of staffing is maintained on virtually all of our client
engagements to reduce the time that your staff must spend answering
questions during the audit. Partner involvement is stressed on
each engagement.
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Client Quotes |
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"WBL has conducted
our audit for many years. The firm understands our
not-for-profit organization and the audit team is familiar with
our processes. An extremely positive experience year after
year keeps us coming back." MM |
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