Not-for-Profit Entities

Your next audit firm should be a strategic partner, whose experience and mission-specific guidance satisfy stakeholders and taxing authorities, help you qualify for crucial funding, and maximize your value to your constituents.

Your next audit firm should be Walker & Armstrong.


Firm and Industry Leaders in Serving Not-for-Profit Entities

A Five-Decade Tradition of Helping Not-for-Profit Entities

Walker & Armstrong is a leader in providing valuable professional services to not-for-profits, including a number of Arizona’s largest and most highly regarded entities. We enjoy long-standing professional relationships with:

  • Membership organizations
  • Charitable organizations 
  • Charter schools
  • Colleges and universities 
  • Foundations
  • Religious organizations
  • Arts and cultural organizations
  • Labor unions
  • Political action committees
  • Private industry councils

We are current on the accounting and tax reporting requirements that are unique to not-for-profit entities, including Form 990, unrelated business income tax (UBIT) calculations and reporting, mergers and acquisition reporting, contributions of cash and donated services, and long-lived assets and restricted net asset reporting.

Practical Resources for Not-for-Profits

Kimberly Ann Bolligar, CPA

UBIT: A Walker & Armstrong Primer for Not-for-Profit Entities

By Kimberly Ann Bolligar, CPA • 21 Feb, 2013
Income obtained from activities that are outside your organization’s tax-exempt purpose may be subject to unrelated business income tax (UBIT).
Jay Z. Parke, CPA

Internal Control Considerations: A Close Look

By Jay Z. Parke, CPA • 14 Dec, 2012
Not-for-profits are often challenged in determining the correct balance of costs versus benefits involved in establishing and maintaining internal controls.
Walker & Armstrong logo

Compliance Auditing and Preparation for Single Audit

By Walker & Armstrong LLP • 23 Oct, 2012
Walker & Armstrong helps clients substantially reduce the complexity and distraction of a single audit via effective preparation, adherence to internal controls, and implementation of certain key steps that promote audit quality.
Jay Z. Parke, CPA

Not-for-Profit Board Governance Considerations

By Jay Z. Parke, CPA • 20 Apr, 2012
Sound governance is key to a not-for-profit 's effective fulfillment of its objectives while complying with applicable laws, regulations and contractual arrangements.

Essential Services

Audits, Reviews and Compilations. Walker & Armstrong is a leader in performing quality and timely audits for clients in all major economic sectors. An audit is a review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice. An audit provides the highest level of assurance and is often required by lenders, funding agencies and other stakeholders.

We perform compilation and review engagements for not-for-profit entities, privately held companies, and county, municipal and tribal governments.

Pre-Audit. By paving the way for your annual audit, an efficient pre-audit facilitates a smoother, quicker, less disruptive and less expensive annual audit.

Our valuable “pre-audit” services, which make up the first step in the process of an audit, include project management and staff training in audit preparation.

During a pre-audit, we assist our clients in the preparation of audit schedules and supporting documentation necessary to facilitate a more timely and efficient audit process. We also will prepare financial statements and supporting schedules.

Accounting and Advisory. We provide accounting and consulting services to our non-attest clients, including audit preparation, financial statement preparation, and advising on QuickBooks.

Forensic Accounting and Financial Investigations. Clients have called on Walker & Armstrong to ensure the integrity of their internal controls, investigate suspected fraud or misappropriation of funds, and produce reports on matters of interest to governing bodies, management and funding agencies.

Tax. We understand the unique tax rules that govern the tax-exempt world. In addition to Form 990 and UBIT services, Walker & Armstrong offers a comprehensive menu of solutions, including:

  • assistance with multi-organization structures, including for-profit subsidiaries, foundations and joint ventures
  • consultation regarding IRS required reporting
  • executive compensation planning and reporting
  • exemption application assistance
  • prohibited transaction analysis
  • state and local tax assistance

The "Walker & Armstrong Difference"

We do not simply help you comply. We help you succeed.

Walker & Armstrong was established in 1971 on a simple premise: To help our clients enhance their success and achieve their goals. The importance of delivering uncompromising client service – as you define it – and exceeding your expectations is instilled at all levels of our firm, and it is fundamental to our core values of:

  • integrity
  • accountability
  • positive attitude
  • respect.

The “Walker & Armstrong Difference” is evident to the hundreds of entities with whom we have served as partners in planning and progress.

We Are Easy to Work With

You will appreciate our experience with organizations like yours, our consistency in staffing from year to year, and our emphasis on careful planning, hands-on partner involvement and effective communication. Our ability to anticipate the course of your engagement protects you from unwanted surprises and unnecessary disruptions to your routine.

We Honor Our Commitments ... and Help You Honor Yours

We understand the frustration and risk stemming from missed deadlines and broken promises. That is why, at every step in the process, from staffing your engagement and calendaring our target dates to delivering the finished product, our focus is on meeting your expectations for timeliness, accuracy and thoroughness.

We Add Value to Your Organization

Every dollar your organization spends on administrative requirements is a dollar diverted from your core purpose. Maximizing the return on your professional fees is an absolute necessity.

Our five-decade tradition of austerity in managing our firm has consistently yielded savings that benefit our not-for-profit and commercial clients. Our fee structure is competitive with firms of comparable quality; we are faithful to our quoted fees; and we are vigilant in seeking opportunities to add value to our services and to your organization.

We Look Out for Your Interests

In addition to offering techni­cal expertise, research tools and other resources that rival the qualities of a national firm, we are alert to emerging regulatory requirements and opportunities for administrative and operational improvements.

Backed by our extensive resources and network of technical experts, we add value to many of our not-for-profit clients by advising them in areas such as:

  • Sales and property tax reporting
  • Employee benefit plan compliance
  • Enterprise risk management
  • Internal controls
  • Board governance
  • Donor stipulations and related laws and regulations
  • Staff training

With respect to helping you meet your tax reporting require­ments, our approach is consistent with our overall philosophy of effective planning, communication and quality. Walker & Arm­strong’s tax professionals understand the challenges that are unique to not-for-profit entities – including your disclosure requirements, functional expense allocations and reporting, and matters involving unrelated business income tax.

We Help You Fulfill Your Mission

Your relation­ship with Walker & Armstrong means far more than mere compli­ance with complicated reporting and regulatory requirements. We carefully tailor our services to your mission, objectives, service needs and constituents, and everything we do for you is shaped by our “big picture” understanding of what you are striving to achieve.

Share by: