Getting the most value out of your not-for-profit organization
Not-for-profit organizations face a unique set of challenges. These challenges may include sustainable funding, changing volunteer base, public scrutiny, and an ever-changing operation environment. Our Not-For-Profit Group was established to advise and guide organizations so they have the information they need to make critical decisions and meet their compliance requirements.
We want to help you today to meet your goals tomorrow! Get in touch now.
Our Not-for-Profit Accounting Services
Our not-for-profit team will help ensure your organization is maximizing its potential and can do more with every dollar by helping you:
- Improve your financial reporting
- Streamline systems and processes to improve efficiencies
- Assist you in identifying risks and determining strategies to mitigate their impact
- Advise on internal controls to reduce the potential for errors and fraud
- Work with the organization on strategic planning
Benefits Of Hiring An Accountant For Your Not-for-Profit
Many not-for-profits operate with volunteers working in a variety of positions. These volunteers may have the necessary skillset to assist the organization with its financial needs but that is not necessarily the case. In addition, volunteers may not be able to commit the necessary time and effort to meet the needs of the organization. Having an experienced Not-For-Profit team like SB Partners will fill the gap and provide the necessary support to meet your needs.
Under Canadian Generally Accepted Accounting Principles, there are a specific set of accounting principles for Not-For-Profit organizations. These are called Accounting Standards for Not-for-Profit Organizations (“ASNPO”). These standards are designed to consider the unique differences of not-for-profits from profit-oriented businesses.
Not-for-profits follow the same record retention rules as other businesses in Canada.