Nonprofits
LT Business Dynamics Working with Nonprofits
In a recent study of nonprofit organizations, researchers discovered that more than half of nonprofits fail to properly follow generally accepted accounting principles, or GAAP, and only 16 percent correctly follow Internal Revenue Service guidelines. The result? Dangerously inadequate reporting that may have a direct and negative impact on the health of your organization. But just as damaging are the missed opportunities to grow your nonprofit if you aren’t relying on solid financial statistics and forecasts.
LT Business Dynamics understands the nonprofit community – from associations to foundations to charitable organizations. Our team has more than 40 years of combined experience providing critical accounting and financial reporting services to this important business sector.
Grants, donations, restricted funds – data that isn’t part of typical corporate accounting adds to the challenge. But an experienced, effective accounting firm such as LT Business Dynamics will take your nonprofit’s financial reporting beyond simple compliance to providing important, relevant statistics for performance evaluation and high-level decision-making.
Our business partnerships with nonprofits take on a variety of forms. We can assume the position of your controller, CFO, or staff accountant. Or we can implement and oversee your financial reporting system. Or we can lend our expertise on a single project basis. We work onsite alongside your staff, provide the full spectrum of accounting services, or set up your accounting infrastructure from our offices and then turn over the project to you and your staff. It’s your choice.