Non-Profit Startup

Let Us Help You Create The Non-Profit of Your Dreams!

In order to setup and maintain your tax exempt status, your organization must meet very specific expense and income classifications. The IRS determines your eligibility with the following:

Yearly Income Statements – categorizing specific expense and revenue details such as donations, salaries, postage, rent, etc.

A Yearly Balance Sheet – including cash, accounts receivable and accounts payable.

Individual Program Expense Statements – detailing every expense for each program, service or seminar, including things like educational mailings.

Revenue Support Schedules – detailing charitable donations, membership fees, and investment interest.

As you can see, the way you set up your bookkeeping and accounting system is crucial to successful maintenance of non-profit status. Luckily, we can help you create the necessary bookkeeping systems and can even take care of filing the forms for you yearly.

Our non-profit services include…

  • Filing of your non-profit status application, initial start-up documentation, incorporation, FEIN, and payroll setup with federal and state agencies. For new non-profits, contact us for a list of items needed to apply for 501 (c)(3) status.
  • Reviewing and compilation of your financial statements.
  • Design, training and maintenance for your accounting system.
  • Payroll management and preparation.
  • Yearly filing of the necessary IRS tax forms.
  • Board training services regarding non-profit budgeting and management practices.
  • For Churches, we prepare the pastoral housing allowance and other required benefit documentations.

A Tricky Tax Credit for Western Illinois Electric Vehicle Owners

I think you probably realize that last Monday was the final deadline for 2021 taxes, and we can now (finally) put those returns to bed.Or can we?Frankly, with a number of our new Western Illinois clients this past year, we reviewed returns prepared via software and/or...

Child Tax Credit

Dear ClientsI normally don't send these special bulletins, but I wanted to get this to you ASAP.You probably heard on the news that the IRS is sending out "advance payments" of $250 - $300 per month for children.The first payments went out THIS WEEK (July 15th).The...

Multi-Generational Caretaking Tax Planning for Western Illinois Families

One of the trends of recent years has been a rise in multi-generational living. Whether it's for economic or health reasons, when Mom and Dad or other, older members of the family move in, there are important things to keep in mind as it relates to maintaining your...

Tax-Wise Charitable Giving Strategies From CL Anderson & Associates, PC

It's a good idea to take your internal temperature and do whatever you need to do to get to a place of focus, amidst all of the national and global distractions that continue ad infinitum. Many of our Western Illinois clients are under enormous pressure for one reason...

CL Anderson & Associates, PC’s Top 5 List of Potentially Fatal Business Mistakes

There is a difference between income and wealth. Tax returns aren't about wealth -- they're about "income", and how that is defined. Business owners and real estate investors have access to powerful tax advantages that wage earners do not ... and wage-earners probably...

Financial Documentation Strategies for Western Illinois Taxpayers

Ah, the wonders of financial documentation... Today’s topic has the benefit of ensuring your Western Illinois "financial fortress" is as airtight as it can possibly be, which has its own advantages. Financial Documentation Strategies For Western Illinois Taxpayers...

4 Tips for Western Illinois Taxpayers Owing the IRS

For many Western Illinois individuals, families, and businesses, it can seem that the government has simply been throwing money around and not paying attention to what is done with it, or collecting what is due. But if you believe that the IRS won't come hunting for...

Western Illinois Taxpayers, The Problem with an Unfiled Tax Return…

The unfortunate reality is that if you have an unfiled tax return -- even if you don't owe any taxes that year -- there can be problems. And, that is obviously the case if you do happen to owe taxes. Not only can the federal government stir up trouble for you, but...

The Purpose of Life Insurance: Consider This Western Illinois Resident

As the old joke goes, the only two guarantees in life are death and taxes. In these updates, I obviously spend a lot of time talking about taxes. But the other part of that axiom is a subject that most people don’t want to talk about, let alone actively plan for. But...

Penalty Relief for Western Illinois Residents Who Owe the IRS

Every year, the IRS charges tax debtors a boatload of penalties (and it's enough to have you screaming for penalty relief). Just how much? If you’re a Western Illinois resident and you owe taxes, you should definitely take a look... To put this in perspective, the IRS...

Ready to come in for an appointment?

Click here to schedule a time to meet with us. We will NOT make dealing with a tax professional as painful as it’s been in the past!

Contact Us