At JCB Financial Services, we specialize in assisting non-profit organizations to achieve and maintain their tax-exempt status by managing all necessary IRS reporting requirements.

Each year, tax-exempt organizations must submit Form 990 and its associated schedules, which include:

• Income Statement: Detailed revenue and expense categories such as donations, salaries, postage, and rent.
• Balance Sheet: Specific categories like cash, accounts receivable, and accounts payable.
• Functional Expense Statement: Expenses allocated to program services, fundraising, and operations.
• Individual Program Expense Statement: Reporting expenses for each program or service, such as seminars or educational mailings.
• Revenue Support Schedules: Detailed income sources in categories like charitable donations, membership fees, and investment income.

The IRS requires these specific revenue and expense classifications to evaluate your organization’s eligibility for tax-exempt status. Therefore, it's crucial to structure your accounting system around these classifications.

Our Services for Your Non-Profit Organization Include:

• Reviewing and compiling financial statements
• Designing, installing, and maintaining your accounting system
• Preparing payroll on a weekly, bi-weekly, or monthly basis
• Handling payroll tax preparation and deposits
• Providing training for your accounting personnel
• Completing and filing your non-profit status application
• Offering training for your board on non-profit financial statement usage and budgeting practices
• Preparing and filing Form 990 and 990T tax forms
• Preparing initial start-up documentation, including incorporation, federal employee identification number (FEIN), and payroll setup with federal and state agencies
• For churches, preparing the pastoral housing allowance and other required benefit documentation to address the dual status of ministers

When establishing a new non-profit organization, we can assist with preparing your 501(c)(3) application for tax-exempt status. The necessary documents include:

• Articles of Incorporation with an Exempt Purpose Statement and Dissolution Statement as required by the IRS
• Employer Identification Number (EIN)
• Organizational By-laws
• Minutes of Board Meetings
• Names, addresses, and resumes of board members
• Names and addresses of all active members
• Inventory of assets (e.g., cash, furniture, equipment, property, pledges)
• Inventory of liabilities (e.g., mortgages, accounts payable, loans)
• Rent/Lease agreements and contracts
• Revenue and expense statements for the past four years or as far back as possible if less than four years old
• Written reason for formation and organizational history
• Mission Statement or Statement of Faith/Beliefs for religious organizations
• Documentation of organizational activities, operations, and programs
• Financial support documentation, including all revenue sources
• Fundraising program descriptions
• IRS processing/filing fee

We are ready to assist you in preparing any of these documents if needed. Let JCB Financial Services help you navigate the complexities of maintaining your non-profit's tax-exempt status efficiently and accurately.