Nonprofit Organizations

Our accounting and auditing services include audits, governmental audits (A-133), reviews, compilations, and special reports. We also offer accounting systems services (initial design of accounting systems and subsequent maintenance, system analysis, and selection).
In addition to year-end financial and tax reporting, we have the broad-based capability to provide guidance and advice with respect to day-to-day operations. Our engagement teams schedule regular meetings with our clients to help them anticipate new opportunities and challenges. We are available year-round to help our clients meet donor restrictions on funds; consider new funding sources; clarify reporting differences between unrestricted, temporarily restricted, and permanently restricted net assets; provide donor advice and deferred giving planning; assist with developing plans and budgets to assure adequate funding for major expenditures; analyze facility or equipment leases; and assist with special projects. With a network of professional contacts in the Bay Area and beyond, we’re able to personally refer organizations to appropriate advisors such as attorneys, insurance agents, banks, grantors, and retirement plan specialists.
We provide federal and state tax compliance for nonprofit organizations (forms 990 and 199, unrelated business income, reporting to the “Registry of Charitable Trusts”, “Guidestar” reporting, personal property taxes). We also assist with applications for nonprofit status and provide support in the event of governmental examinations by IRS, state or local government agencies.
Strategic and long-range planning is critical to a nonprofit organization’s ability to fulfill its mission. From analyzing current resources and the need to enhance current programs or initiate new programs, to evaluating current and future capacity, we can assist in an organization’s planning process. Implementing new program services may require expanding current facilities or acquiring new facilities and/or equipment. We work closely with our nonprofit clients to evaluate and plan for adequate long-term reserves, Board designations on unrestricted funds, and obtaining financing for long-term projects.
Smart financial planning lays the foundation for a nonprofit organization’s future; budgeting and funding go hand in hand. As an independent advisor, we often review our clients’ budgets and assist them in establishing funding goals. In addition, we also often review an organization’s budgeting methods and processes and advise on obtaining or building emergency funds.
At Bregante, we speak “accounting” in the common, everyday language. We provide creative suggestions and solutions that take into consideration the size of an organization, the complexity of its transactions, and the qualifications of its personnel. From assisting our clients in their efforts to accurately quantify, report, and analyze the funds expended toward their program objectives, to consulting on accounting system selection and implementation, we have the experience and expertise to add significant value to many areas of the internal accounting and reporting process.
Strong resource management is critical to accomplishing an organization’s mission. We make suggestions to help manage excess resources on a short-term basis, analyze and project short-term and long-term cash flow needs, and monitor FDIC and SIPC coverage to evaluate risk of exposure to loss with respect to cash deposits and investment accounts. In addition, we can design a fixed asset system that provides sufficient information for management without overwhelming the accounting staff. We can also evaluate the adequacy of an organization’s current insurance coverage to protect the organization’s assets and its Board of Directors, and refer insurance agents knowledgeable about nonprofit insurance needs.
The ability to seize opportunities for growth, initiate program expansion, and manage new sources of funds is dependent upon adequate staffing with competent people. We help our nonprofit clients evaluate personnel qualifications and consider growth potential at current staffing levels. An organization’s efforts to recruit and retain competent staff are greatly enhanced if the organization offers a solid compensation, benefit, and retirement plan package. We work closely with a broad network of professionals to assist our nonprofit clients in structuring compensation packages that obtain the desired results for the organization and its employees.
Strong internal controls are a prerequisite for all nonprofit organizations. The safeguarding of assets and a concentrated focus on deterring the misappropriation of funds are paramount to an organization’s survival. We routinely assist our clients in evaluating their organization’s internal control structures and suggest effective yet efficient internal control procedures to provide for adequate segregation of duties.

Why Bregante?

In an environment of changing regulations and heightened competition for funding resources, nonprofit organizations can benefit greatly from a CPA firm with extensive experience in the nonprofit sector. Nonprofit accounting and reporting have become increasingly intricate, therefore careful attention to compliance issues and procedures is an absolute necessity. Bregante + Company LLP understands these unique issues. We view each client individually and offer specifically tailored suggestions and solutions. We serve as a bridge between the complexities of nonprofit accounting and reporting, and our clients’ varied levels of understanding and needs.

 

Bregante provides high partner-level involvement and a focused effort to provide staff continuity for each engagement. In addition, we meet with our clients several times during the year, not just at year-end. We communicate new nonprofit rules and regulations to our clients, proactively plan for year-end financial and tax reporting, and advise on unique needs such as streamlining the bookkeeping process or selecting accounting software.

 

Bregante is a member of the American Institute of Certified Public Accountants and adheres to the Institute’s Quality Control Standards. We undergo Peer Reviews of our auditing and accounting practice, which involves hiring another CPA firm to assess our compliance with those standards and evaluate the quality of the audit, review, and compilation financial statement engagements that we have performed. Additionally, all of our staff members meet or exceed the continuing education requirements for financial accounting and governmental auditing. All of this is meant to provide our clients with the assurance that we are as current on financial compliance and reporting issues as possible.