501(c)(3) Recognition & Nonprofit Compliance
CPA support for organizations preparing exemption applications, Form 990 reporting, fund accounting, grant compliance, and board-ready financial information.
G&S Accountancy supports nonprofit organizations with 501(c)(3) recognition readiness, Form 990 preparation, fund and restricted-contribution accounting, grant reporting, governance documentation coordination, and financial statements for boards and funders.
Specialized CPA guidance
Tax-exempt status starts with operations that match the application
An exemption application is not only a form. The organizing documents, charitable purpose, planned activities, compensation, fundraising, governance, and financial projections need to tell one consistent story.
After recognition, that story must continue through accurate books, restricted-fund tracking, required filings, and documentation the board, donors, grantors, and regulators can understand.
How we help
A focused engagement built around the records, decisions, and agency requirements that drive the matter.
Exemption Readiness
Review entity formation, organizing documents, activities, governance, and financial projections before a Form 1023-series submission.
Form 990 Reporting
Prepare annual information returns from reconciled records and gather the governance, compensation, program, and fundraising information the return requires.
Fund Accounting
Separate restricted and unrestricted activity and maintain reporting that shows how donor and grant funds were used.
Grant Compliance
Align the general ledger and supporting records with grant budgets, allowable-cost rules, reporting periods, and reimbursement requests.
Board Reporting
Produce understandable financial statements and schedules that support oversight, budgeting, and documented board decisions.
Financial Reviews
Prepare the books and financial statements for lender, grantor, or stakeholder requirements, including compilation or review engagements when appropriate.
What the engagement looks like
A documented process from the initial review through delivery or agency resolution.
Confirm purpose and structure
Review the planned activities, entity documents, related parties, funding model, and required registrations.
Build the financial story
Prepare budgets, projections, activity descriptions, and accounting policies that match how the organization will operate.
Prepare and coordinate
Assemble the tax and accounting portions of the application or annual filing and coordinate legal-document questions with counsel when needed.
Respond and document
Address follow-up questions with consistent support and retain the final application, determination, and key governance records.
Maintain compliance
Keep books, restricted funds, annual filings, and board reporting aligned after recognition.
Tax-Exempt Organizations FAQ
Common questions, answered
General answers only; the right approach depends on your records, entity structure, deadlines, and applicable law.
Discuss Your Situation →No. State-law formation and federal tax exemption are separate. Most organizations seeking recognition under section 501(c)(3) must apply to the IRS and also address applicable state registration and filing requirements.
They are different IRS application paths with different eligibility rules and levels of detail. Eligibility for the streamlined form does not remove the need for appropriate organizing documents, activities, governance, and ongoing compliance.
Most must file a Form 990-series annual information return, subject to limited exceptions. The required form depends on factors such as gross receipts and assets, and missing filings can result in penalties or automatic revocation after repeated nonfiling.
We provide accounting and tax support and coordinate with legal counsel when legal documents or opinions are required. Website content and an accounting engagement are not substitutes for legal advice.
Related reading
More on tax-exempt status and IRS scrutiny
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- Non Profit Organization Guide to IRS Audit ReadinessNon Profit Organization Guide to IRS Audit Readiness We know that navigating the world of taxes, compliance, and audits…Read the article
Building or strengthening a tax-exempt organization?
Bring the notice, financial records, or planning question. We will identify the next practical step and whether our team is the right fit.