Audit, Tax & Consulting For Associations
Associations have a unique ability to harness collective energy and create an economy of scale. But today’s associations are faced with the need to evolve, as budgets are stretched, and as staying relevant demands new ways of engagement. In addition to financial and strategic challenges, you may also be juggling issues related to risk management, governance, and increased regulatory compliance.
AAFCPAs has extensive experience offering solutions to local, state, national and international professional, membership, industry and trade organizations. We know that these organizations are as diverse as the people they serve. Many of our partners serve on association boards, bringing additional hands-on experience and practical insight to our clients.
• Financial statement audits
• Employee benefit plan audits
Tax Compliance & Consulting
- Preparation and filing of the Form 990, and practical guidance on how this form informs the public
- UBIT compliance, including identifying sources of unrelated business income and properly allocating costs to minimize the tax burden
- Related party and executive compensation disclosures
In addition to best-value assurance and exceptional tax expertise, AAF provides proactive guidance on areas critical to the success of Associations, including:
- Political Action Committee compliance
- Best practices when there is a related Education Foundation
- Advice on internal controls and financial management best practices, including evaluation of on-site cash controls at conferences and recommendations to enhance these controls
- IT/Software systems efficiencies and effectiveness
- Technology risk assessments
- Analysis of financing options
- Ongoing review of regulatory changes to determine potential impact
- Examination of financial and personnel resource allocations
- Long-term strategic planning
- Calculation of financial ratios and benchmarking to industry peer organizations
- Business process improvement (with a focus on efficiency, effectiveness and internal control)
- Managed Accounting Solutions: Right-size, outsourced accounting solutions, from cloud-based bookkeeping to high level CFO oversight oversight
- Business Performance, Internal Controls & IT Advisory
- Institutional investment advice, money management, financial planning & consulting, executive deferred compensation & retirement plan consulting, and succession planning solutions
- Fiduciary guidance and investment advisory solutions for employee benefit plan sponsors
- Technical Accounting Advisory: Implementation of new accounting standards, assistance with complex operational and financial transactions, audit preparation
Large Annual Conferences – AAF has extensive experience working with associations who present large annual conferences, including developing pricing matrices to assist with optimizing revenue for conferences and seminars.
Publications – We provide guidance on the unique issues regarding publications, including: revenue recognition, allocation of costs to the proper period, self-publishing and contracted publishing, and identification of unrelated business income and developing a standard methodology to allocate costs.
Credentialing Programs – AAF has proven experience providing guidance on accounting for credentialing programs.
Financial Training – AAF provides customized and comprehensive financial training for boards of directors, management and personnel to ensure effective corporate governance.
AAFCPAs has been helping nonprofits succeed since our founding in 1973. We help streamline financial operations so that our clients maximize their ability to deliver on their missions. Our clients consider us a best-value CPA firm because we provide that ideal combination of expertise, service, and price.