Hundreds of thousands strong, yet representing interests as varied as feeding the homeless to running nursing homes to operating museums, today’s not-for-profit entities provide valuable services and enrich our communities in countless ways. They are also subjected to a variety of pressures and conditions that create unique working environments. Some of the issues will always be present, such as:
- Limited budgets
- Constrained resources
- Consistent need to focus on fundraising and grant-seeking
In addition, the last decade has brought numerous changes in expectations for not-for-profit governance and management. There is:
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Pressure to improve efficiencies and employ for-profit business practices
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Increased expectations regarding the fiduciary responsibility of the Board
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Increased competition to find and retain talented management and employees
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Increased governmental scrutiny, particularly around governance and executive compensation
From our work with hundreds of not-for-profit organizations, Bowman brings not only deep technical expertise in performing audit and attest services, but also the business understanding of the constraints and requirements to which tax exempt organizations are subjected.
We assist clients in uniting their mission with good business and risk management practices to grow sustainable organizations. Our clients include a wide range of organizations, such as social services and residential care facilities, private schools, seniors housing and skilled nursing facilities, as well as membership and cultural organizations and healthcare providers.
Our partners and not-for-profit team are well versed in the Single Audit, OMB Circular A-133 and Yellow Book requirements, as well as Form 990 and other tax reporting issues. Our team attends, and often leads, annual CPE training sessions. Our other services include, but aren't limited to, accounting and auditing, Federal and State tax planning and reporting, and management consulting.