Single Audits allow the federal government to monitor recipient fund management and ensure proper spending on grant programs. Tate & Tryon specializes in nonprofits and has significant experience performing Single Audits. This experience includes auditing organizations that receive funding from most government agencies

We understand that each contract/grant agreement is unique. Therefore, our professionals employ a tailored approach to conducting the audit that allows them to adjust their audit procedures to match each client’s unique compliance requirements. We work closely with clients to help them understand the complex compliance areas and provide resources to assist in setting up documentation. We also work with management during the audit to develop reasonable corrective actions if needed, including the strengthening of internal controls as they concern federal programs.

Tate & Tryon is a proud member of the AICPA Governmental Audit Quality Center.

INSIGHTS & RESOURCES

Tax-Exempt Organizations and 2017 Tax Reform

Posted on , updated on

Uncategorized11/23/2017

Dear Friends in the Tax-Exempt Community:
Below is a brief overview of the key tax reform proposals relating to tax-exempt organizations. As you know, Congress is currently putting together legislation to effect significant tax reform with a timeline of having it enacted this year. Although Congress is still negotiating, the following reform proposals may impact your […]

Royalty Income of Nonprofits is Being Targeted for Taxation!

Posted on , updated on

Uncategorized11/20/2017

The Senate Finance Committee’s version of the Tax Cuts and Jobs Act includes a number of items that would impact nonprofits.
Perhaps the most immediately significant is the provision that would call for taxing the revenue generated from royalties related to licensing a nonprofit’s name and/or logo. Royalty revenue has traditionally been exempt from income taxes. […]

How Could Federal Tax Reform Impact Nonprofits?

Posted on , updated on

Exempt Organization Tax11/17/2017

Uncategorized11/17/2017

By:  Doug Boedeker, CPA, Partner
It has been a challenge staying current on the twists and turns involved with the proposals for Federal Tax Reform. Many of the ideas within the tax reform package have a direct impact on nonprofit organizations.
Charitable deductions, executive compensation, employee fringe benefits, and intermediate sanctions are just some of the “hot […]

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