Getting and keeping exemption
Tax-exempt status starts with Form 1023 or 1023-EZ and can be revoked after three years of missed 990 filings.
How we helpWe prepare your application and file the right Form 990 every year.
Property and nonprofits · Tax · Books · Insurance
Tax, books and insurance for nonprofits
Donors, boards and regulators all read your numbers. We keep restricted funds clear, file your 990 on time and protect your volunteers and property.
Charities, religious organizations, associations and foundations work with our office for exemption applications, Form 990, Illinois charitable filings, fund accounting and nonprofit coverage.
Reviewed by Orkun Ozkaymak, CPA, MBA·Clients in all 50 states and abroad
Nonprofits and religious organizations
Mission first, and compliance close behind
Nonprofits answer to donors, boards, the IRS and the Illinois Attorney General. Restricted gifts, grants and volunteer activity all need careful records.
Our office sets up fund accounting in QuickBooks, prepares your Form 990 and state reports, and our agency covers your property, events and volunteers.
Special needs
What makes nonprofits different, and how we help
Where organizations most often need help.
Restricted gifts and grants
Donor-restricted funds must be tracked and spent as promised, and grantors expect clean reports.
How we helpWe set up classes and funds in QuickBooks so board and grant reports come straight from your books.
State charitable registration
Illinois charities must register with the Attorney General and file annual reports.
How we helpWe file your Illinois charitable registration and annual report with your 990.
Events and volunteers
Events, volunteers and property all carry risk for an organization.
How we helpOur agency quotes coverage for your building, events and people.
One coordinated office
Services for nonprofits
Tax, accounting and insurance under one roof, so the numbers on your return, your books and your policies all agree.
Tax and accounting
Nonprofit income taxForm 1023, Form 990, 990-EZ, 990-N and 990-T.Learn more QuickBooks bookkeepingFund accounting with grants and restrictions.Learn more Payroll taxStaff and clergy payroll.Learn more RegistrationsIllinois Attorney General charitable registration.Learn more Audit supportSupport for grant reviews and audits.Learn more
Insurance
Commercial insuranceProperty, general liability and event coverage.Learn more Errors and omissionsErrors and omissions for counseling, education and advisory programs.Learn more Workers compensationWorkers compensation for staff.Learn more Commercial autoCommercial auto for organization vehicles.Learn more
Calendar
Filings we keep on schedule
The recurring deadlines nonprofits face most often. We track them for you and send reminders before anything is due.
- May 15Form 990 seriesDue the 15th day of the fifth month after year end.
- Within 6 months of year endIllinois AG annual reportForm AG990-IL with your 990.
- January 31W-2 and 1099-NECFor staff and contractors.
- QuarterlyForm 941 and state payrollFor organizations with employees.
Dates shown are for calendar-year filers. When a due date falls on a weekend or holiday, it moves to the next business day.
QuickBooks Online
Books built for nonprofits
Your QuickBooks tracks each fund and grant, so board reports and grant reports come straight from the books.
Our office sets up QuickBooks Online with a chart of accounts designed for your industry and your entity type, mapped line by line to your tax return. Your books are ready for filing season all year.
Chart of accounts
- 40100Contributions, unrestrictedRevenue
- 40200Contributions, restrictedRevenue
- 40500Grant revenueRevenue
- 40700Event revenueRevenue
- 32000Net assets with restrictionsNet assets
- 70100Program expensesFunctional
Mapped to your tax return lines
Questions
What nonprofits ask us
Which Form 990 do we file?
It depends on size. Small organizations with gross receipts normally $50,000 or less can file the 990-N. Under $200,000 in receipts and $500,000 in assets can use the 990-EZ. Larger organizations file the full 990.
Do churches file Form 990?
Churches and certain religious organizations are generally not required to file Form 990, but they still need good records, payroll filings and, if they have unrelated business income, Form 990-T.
Do we have to register with the Illinois Attorney General?
Most charities that solicit or hold charitable assets in Illinois must register and file annual reports, with some exemptions. We confirm your status.
Related industries
All industriesDaycare and childcare centersStaffing ratios, state subsidies and food program reimbursements. We keep payroll, books and coverage as dependable as your classrooms.Explore Real estate investors and landlordsDepreciation, passive loss rules and a sale that can trigger a big tax bill. We plan every property from purchase to exit and insure it along the way.Explore Consultants and professional servicesYour expertise is the product. We choose the right entity, set a smart owner salary and protect you from the claims that come with advice.Explore
Next step
Let's talk about your business
Request an insurance quote, or start your company with our office. Prefer to talk first? Book a time, virtual or in person.