Not For Profit OrganizationsAccounting Services
Brown Edwards’ commitment to not-for-profits is a core focus of our firm. We understand your issues, your challenges, and your unique accounting and reporting requirements. Most importantly, we have a genuine interest in your organization.
Brown Edwards has a dedicated pool of not-for-profit specialists who are highly experienced and sensitive to your needs and concerns. Our team members are noted by our clients for their accessibility and hands-on style, as well as the depth of knowledge and capabilities. Ultimately, in professional relationships, people do make the difference.
We can Assist You in the Following Areas
Assurance and Audit Services
- Overall financial statement presentation, disclosure, and transparency
- Enhancing financial reporting controls related to the closing process
- Accounting and classification of contributions and split-interest agreements
- Employee training on all aspects of financial statement elements
- Financial projections with related financial ratio analysis
- Development of a chart of accounts structure
- Classification of net assets
- Utilizing an operating measure
Accountability and Governance
- Implementation of best practices
- Development of audit committee charters, roles, and responsibilities and other related policies
- Conflict of interest, whistleblower, and record retention policies
- Practical ways to meet audit committee responsibilities
- Development of policies related to executive compensation and Form 990 review
- Board financial statement training for not-for-profit organizations
- Development and execution of an internal audit function and programs
- Information technology effectiveness assessment for your current and future needs
- Strategic systems planning to address future information technology risk and needs
- Systems selection and implementation a new system
- Penetration testing and vulnerability assessments to test IT security
- Website security to ensure security from external threats
- Disaster recovery planning
Latest Not-For-Profit News From Brown Edwards
On June 16, 2021, the Financial Accounting Standards Board (FASB) released a proposed Accounting Standards Update (ASU) related to the Leases standard (Topic 842). The proposed ASU would improve the discount rate guidance for lessees that are not public businessread more
Privacy in the age of modern technology is a major concern for individuals and, moreover, is the focus of laws and regulations directed at organizations that use personal data. The fast-moving digital landscape has not only challenged current lawmakers butread more
We find ourselves years into the implementation of Title 2 Code of Federal Regulations (CFR) 200 – Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). However, a few recurring matters continue to arise that leadread more
What Clients SayAbout Our Accounting Services for Not-For-Profits
"The Rescue Mission has high standards for professionalism and transparency. If we do something, we want to do it well. As a large, local non-profit, our most important asset is our reputation so we are glad that our relationship with Brown Edwards mirrors that same mindset. I suspect what a company does not know is the most dangerous thing they can encounter when it comes to today’s ever changing regulatory environment. Brown Edwards has been there to help guide us through the maze of charitable gift-giving, making sure we understand not only the new requirement, but the rationale behind the requirement which makes the adherence to new requirement a smooth one."
Joy Sylvester-Johnson - Executive Director, The Rescue Mission of Roanoke, Inc.
"The last couple of years at Blue Ridge School have been exciting ones. We’ve raised new dollars, begun construction of new facilities, and crafted a fresh Long Range Plan – all the while growing smarter about how to best create, manage and evaluate our day-to-day operations.Brown Edwards has been an important partner in this process. They understand our growth plans and how we are achieving them. They have contributed to our increased awareness of best practice and changing legislation. And, they appreciate the human side of our work – that our students, families and mission come first. While non-profits are different than for-profits, the best non-profits use for-profit planning and wisdom to their advantage. Brown Edwards brings valuable perspective to our School, and are very much a part of the success we are enjoying at Blue Ridge today.."
D. Franklin Daniels, Jr. - Associate Headmaster for Advancement and Admissions, Blue Ridge School
"Brown Edwards has been Mountain Empire Older Citizens’ independent auditor for the last four years. I have always had the feeling that we were all working together to achieve the goal of providing our Board of Directors with an audit document that was both accurate and understandable. In that regard, when the Brown Edwards staff presented the first year’s audit to our Board, the Board Chairman commented that as a result of their presentation, he felt like he truly understood the audit document for the first time. As we grew it became imperative that we have the services of a thoroughly professional auditing firm that could provide us with the tools to see clearly how we had performed in the most recent fiscal year and also to look forward to see how we could better track and plan for the future. Brown Edwards has been instrumental in our ability to do both."
R. Raymond Moore - CFO Mountain Empire Older Citizens, Inc.
"For the past four years, I have served in the capacity of CFO with a substantial provider of services to foster care children and developmentally disabled individuals. Brown Edwards is our current accounting and auditing firm here as well. I have worked with all levels of staff within their firm. I find they recruit bright and qualified individuals to work there. I have always found them to be professional in their work and reasonable when it comes to items requiring discussion. I am especially pleased with the lack of staff turnover I have encountered within their senior personnel, not only at my current position, but over the many years I have worked with them as well."