Nonprofits
Lumix Understands Nonprofit Organizations
Nonprofit Accounting
Did you know that your nonprofit organization has most of the same needs as a for-profit business? For starters, it needs to at least break even, but it should have a planned surplus from operations to build a reserve for future projects or unexpected funding shortfalls. It has to carefully monitor cash flow, have available lines of credit, and meet the employment tax and regulatory requirements imposed on all businesses.
And yet, there are some major differences between for profit and nonprofit accounting. Accounting and reporting differences that require financial expertise in the nonprofit industry:
Ask the Lumix team to take a look at your financial reports – get an expert’s perspective with a complimentary consultation!
Do your nonprofit financial statements make sense?
Are you seeing the tip of the iceberg of possible nonprofit accounting errors?
Do you know the story your financials are telling? Do you have a nonprofit accounting cheat sheet?
Schedule a complimentary 30-minute consultation with our non-profit accounting firm. Our nonprofit accounting firm is based in Bethesda, MD. For a more thorough assessment, we charge a small fee and provide you with a confidential list of potential issues including questions to ask and ideas to improve your financial story. Schedule now by contacting us at (240) 395-4500
”Two years ago, in my new role as Executive Director, I had an uncomfortable feeling about the accuracy of the financial information I was receiving from my accounting team but I couldn’t identify exactly why. I was referred to Lumix and within the first 30 minutes, Maribel confirmed that the reports were not making sense and that there was a lot of important information missing. That consultation changed the course of our organization. Our financial information is now clear, timely and correct. We are also able to plan and measure results accurately, which is helping us achieve our organizational goals. ”
Anonymous Executive Director
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