A critical deadline is approaching for many of the businesses that have received loans under the Paycheck Protection Program (PPP), which was created in March 2020 by the CARES Act. If these borrowers don’t take action before the deadline expires, their loans will become standard loans, and the borrowers could be responsible for repaying the full amount plus 1% interest before the maturity date. In addition, some borrowers could face audits.
Not-for-Profit organizations face many challenges while trying to keep up with financial and tax reporting compliance matters. At LB Carlson, we provide various compliance services to Not-for-Profit organizations and help keep our clients up to date with changes in reporting requirements.
A trusted partner to Not-for-Profit Organizations
Our Not-for-Profit clients offer services such as home and community-based support for persons with disabilities and food and support programs for under-served communities. In addition, we also serve a variety of associations that provide programs and services to their members.
Working with a business advisor like LB Carlson can help your organization make confident, strategic decisions that help you fulfill your mission and change lives in the communities you serve.
How we can help you!
We provide the following services to our Not-for-Profit Clients:
- Accounting Outsourcing – We can assist with preparing monthly reconciliations and financial statements, enhancing your internal controls, or even step in as a contract controller/CFO.
- Attest Services – Our highly skilled and experienced professionals provide audit, review, and compilation services. We provide timely and accurate financial statements to our clients so they can be confident with their finances and meet government and board reporting requirements.
- Tax Services – Our professionals have extensive experience preparing tax returns and handling all levels of tax-related issues that your organization may encounter.
Passionate about your Organization’s Success
LB Carlson is much more than a CPA firm offering traditional services. Our not-for-profit team is highly accessible and committed to providing year-round guidance that helps your organization remain steady in today’s unpredictable environment. Our technical competence, extensive industry expertise, and understanding of how your organization operates allows us to ask the right questions, provide thoughtful recommendations and solutions tailored to your specific needs.