Cover & Rossiter is one of the most respected and experienced CPA firms serving the accounting, tax and audit needs of the nonprofit community in the Delaware Valley. We advise some of the region's great organizations. We understand that your needs as a tax-exempt organization are different, so whether you are fundraising, keeping track of government grants or maintaining your nonprofit status, we know what kind of strategy you need.
The needs of each type of tax-exempt organization are unique. We know what makes nonprofits different and we know you need an accounting firm that knows how to understand those differences.
Cover & Rossiter is privileged to provide the accounting, tax and audit needs for over 40 nonprofit organizations in Delaware, Pennsylvania, New Jersey and Maryland. Our clients range in size from internationally renowned institutions with $40 million budgets and nine figure endowments to much smaller organizations making a difference locally. Our clients include charter schools, churches, cultural institutions, healthcare advocates, medical societies, membership organizations, museums, private foundations, private schools, professional organizations, religious schools, social welfare, and trade associations.
Our approach to performing audits focuses on risk areas and to work collaboratively with your Audit/Finance Committees. We issue a management letter for every engagement with required commentary on controls and helpful suggestions that address upcoming trends in the regulatory environment, accounting standards updates, and ideas to improve efficiency based on our experience with other organizations. We work with your team to tailor the presentation to the board to help them focus on their role of governance.
Our approach differs from the industry norm in many respects:
- Our audit team is always up to speed on your needs, eliminating additional time investment for any updating on prior issues.
- Your questions and concerns are welcome year-round thanks to our commitment to our open line of communication philosophy.
- Your phone calls with any of our experienced staff are welcomed and encouraged to ensure smooth operations year round leading to easier audits.
- As 990 experts, we stay informed regarding tax law changes and IRS audit issues that could affect your nonprofit.
- We identify and provide you with the knowledge of potential opportunities for improvement and efficiency, whether a minor tweak or a major change.
- We are actively involved with the Delaware Alliance for Nonprofit Advancement (DANA), with Vickie Young Beam serving on their board of directors. Pete and Vickie have led highly educational workshops for DANA on accounting standards for nonprofit organizations.
Don’t you want the experts that others turn to for nonprofit accounting advice to work with you?
Our most requested services for nonprofits and foundations include:
- Tax Compliance - preparation of Form 990, 990-PF, 990-T, 990-EZ
- Audits of Financial Statements, 403b Benefit Plans, and Pension Plans
- Other levels of financial statement services
- Agreed Upon Procedures
- Outsources accounting services
Our other services:
- Educating nonprofit board members and staff on nonprofit accounting rules and regulations
- Establishment of financial controls and reporting systems
- Salary surveys to gauge the compensation of senior executives
- Calculation of loss from an investment manager error
- Assistance interviewing and selecting a new CFO
- Representation before the IRS in audits of Form 990, 990-PF and 990-T
- Consulting services in such areas as process improvement and efficiencies, internal controls, and Board risk identification and mitigation regarding financial and internal control matters
Our firm can help free up your time and keep you focused on your organization instead of doing administrative tasks such as monthly accounting or paying your employees and vendors. We will also do this on an interim basis when you have staff transition or absent key personnel.
Please contact us if you are interested in learning more about the services we offer for nonprofits.
We are proud supporters of DANA: