In the current intricate regulatory landscape, not-for-profit organizations encounter progressively rigorous compliance obligations. We offer specialized advisory and compliance services to assist you in navigating these complexities, thereby enabling you to concentrate on achieving your organizational mission.
Our practice integrates extensive technical expertise with pragmatic, hands-on experience to provide customized solutions that cater to your distinct requirements. We engage collaboratively with your team to implement best practices, improve operational efficiency, and ensure adherence to regulatory standards.
Beyond Compliance: Creating Strategic Value
We help you transform regulatory requirements into opportunities for operational improvement, better governance, and strategic advantage.
Preparation of Federal Indirect Cost Rates
Indirect cost rates are crucial for organizations receiving federal funding, as they determine how much can be recovered for overhead and administrative expenses. Developing and negotiating these rates can be complex and challenging. The deminus rate has been changed from 10% to 15%. However, there is always and opportunity to apply for a higher rate.
Our team provides comprehensive support for:
- Developing indirect cost allocation methodologies
- Preparing indirect cost rate proposals
- Negotiating rates with federal agencies
- Implementing systems to track and manage indirect costs
- Ensuring compliance with federal regulations
- Walking you through the approval process with the oversight agency for Federal approval
Compliance Related to Implementation of the Uniform Guidance
The Uniform Guidance (2 CFR Part 200) establishes a comprehensive framework for managing federal awards. Navigating these regulations requires specialized knowledge and experience.
Our Uniform Guidance compliance services include:
- Developing compliant policies and procedures
- Implementing procurement standards
- Establishing internal controls
- Preparing for audits under the Uniform Guidance
- Resolving audit findings and questioned costs
- Training staff on compliance requirements
Our Approach to Advisory Services
Assess
We thoroughly evaluate your current processes, systems, and compliance posture to identify gaps and opportunities.
Design
We develop tailored solutions that address your specific needs while ensuring regulatory compliance.
Implementation
We work alongside your team to put solutions into practice, ensuring smooth adoption and knowledge transfer.
Our collaborative approach ensures that the solutions we develop not only meet regulatory requirements but also align with your organization’s mission and operational realities.
Training & Workshops
Empowering your team with knowledge and skills
We offer training and workshops to clients and not-for-profit professionals whenever a new audit and tax guideline is issued that could have an impact on your organization. Our training programs are designed to be practical, interactive, and immediately applicable to your daily operations. Much of this training was developed during Nancy’s tenure as a Professor at New York University where she developed a course to train not for profit Executive Directors in accounting and finance.
Our Training Offerings Include but are Not Limited to:
New Accounting Standards
Practical implementation guidance for new FASB updates that effect your financial statements and reporting
Regulatory Compliance
Keeping current with changing federal regulations, budget changes and reporting requirements
Grants and Management
Best practices for managing and tracking federal and foundation grants and contributions
Our training can be delivered in-person or virtually and can be tailored to various audiences within your organization, from finance staff to executive leadership and board members.
Specialized Expertise
Our team consists of professionals who specialize in not-for-profit accounting, compliance, and governance from all of the government agencies.
Practical Solutions to Solve Problems
We deliver actionable insights and practical solutions that can be implemented efficiently and effectively.
Continuous Support
We don’t just implement solutions and leave – we provide ongoing support to ensure sustainable compliance.
Industry Relationships
Our strong relationships with regulatory bodies and industry groups keep us at the forefront of emerging issues. Through those relationships, if we cannot get an answer to your questions we know the right subject matter expert to reach out to.
Ready to enhance your compliance and operations?
Contact us today to discuss how our advisory services can help your organization navigate complex regulatory requirements while improving operational efficiency.