Nonprofits

We work with start-up nonprofits and established ones alike, and we can help you create, run, and improve your nonprofit.

We understand that nonprofits are different from for-profit businesses and have different issues; however, we also understand that running your nonprofit like a business makes you more efficient, more attractive to donors and grantmakers, and lets you more effectively reach your clients and constituents.

We also love sharing our passion for finance and financial literacy with nonprofits and the clients they serve. To date, Egan Tax & Books has provided financial literacy workshops for Girls Quest and the Teen Foster Care program at the Children's Aid Society.

Our philosophy for working with nonprofits includes:
  • Maximizing cash flow and managing short-term cash requirements;
  • Proper accounting and books set-up;
  • Proper management of employee/contractor status, relationships and benefits;
  • Managing relationships with donors, program participants, and donees.

Services

Tax

Tax Return Preparation and Filing

We can file your IRS form 990, the Return of Organization Exempt from Income Tax.

Tax Plannning

Let us help you minimize your tax burden while making sure to comply with all applicable laws.

IRS / State Representation

We will represent you with issues with IRS and state tax departments for audits, reviews, and negotiations.

Sales Tax Returns Preparation and Filing

We will prepare your monthly, quarterly, or annual sales tax returns for any state in which you need to file.

Payroll - we DO NOT prepare or file payroll returns

While we do not prepare or file any payroll returns, we can introduce you to all the major payroll providers.

Accounting

Quickbooks Accouting Set-up

We will help you set up your books properly. We'll work with you to choose the right version of QuickBooks for your business, set up a chart of accounts and bank information, and give you training on how to use this powerful business tool.

Accounting Work / Financial Statement Preparation

We will prepare your financial statements and do general accounting work.

Quickbooks Consulting

We love QuickBooks and love showing people how to use it. We can help you get your file up to date if it's a little messy, and we can teach you all the tricks of the trade. See also our Trainining page.

Bookeeping

Let us be your bookkeeper! We will enter all transactions, update invoices and customer payments, and help you manage inventory.

Business Planning

Business Formation

We will help you set up the nonprofit as a legal entity in your state, and we'll help you file for 501(c)(3) status, which makes any income nontaxable, allows you to make purchases for your nonprofit without paying sales tax, and allows your donors to make tax-deductible donations to your organization.

Nonprofit Business Package

The Nonprofit Business Package is a suite of nonprofit services. It includes an annual 990 return for your organization. We will also create any 1099-Misc forms for your contractors. Paying one flat fee gives you access to our expertise all year, enabling you to ask your questions and get the answers you need, without incurring expensive hourly charges.

    Includes:
  • Tax Planning
  • Fundraising and marketing strategies
  • Budgeting and pricing
  • Cash flow management
  • Grantwriting advice

Business Plannning Advice

For those not on the Nonprofit Business Package, we offer our business planning services on an hourly basis.