FL&S recognizes that nonprofit organizations face the same basic challenges as any business; allocating resources effectively, growing to support more services, staying financially viable, and providing accountability.  In addition to all of those challenges, nonprofit organizations face a myriad of challenges and financial situations unique to the nonprofit industry. Several FL&S team members also serve on boards of directors and committees of various nonprofit organizations.  This first-hand experience in the community strengthens our expertise and understanding of the tough decisions nonprofit executives face.

Our professionals serve as instructors for various not-for-profit associations.  Courses taught include courses on the fiduciary responsibilities of NPO board members, internal control, understanding NPO financial statements, managing a NPO as a business, forecasting and budgeting, cost allocations, adequacy of operating reserves and others.  One of our team members developed and presented a three part series on financial literacy for NPO executives several years ago at the request of the Maryland Association of NPOs.

Industry sector expertise:

• Arts & Cultural
• DDA providers
• Foundations
• Health Care
• Higher Education
• Member Associations
• Private Schools
• Social Service
• Trade Associations
• Labor Unions

Services provided:

• Financial Audits
• Audits under the Uniform Guidance (previously A-133 audits)
• Employee Benefit Plan audits under ERISA
• Compilations and reviews
• Outsource accounting and bookkeeping services
• Budgets and forecasts
• Tax planning and preparation
• Financing assistance
• Agreed upon procedures
• Start-up assistance (EIN and 1023 filings)
• Fraud prevention, detection & investigation
• QuickBooks installation and training
• Internal control studies and assessments
• In-service training for clients
• Revenue recognition assessments
• Expense allocation analysis
• Internal control analysis, design and recommendations
• General business consulting

For more information on FL&S Nonprofits Services, please contact Nicole Szarko