Rock & Hammer serves not-for-profit organizations and foundations of all types and sizes. From large national non-profits to local educational foundations, town fire departments, private charitable foundations, religious based community recreation facilities, temples and churches and visiting nurse services, our firm is committed to providing quality services to not-for-profit organizations. Our experience has allowed us to develop in-depth expertise in addressing the specific needs of the not-for-profit sector.
In addition to experience gained from providing a wide range of services to our clients, our not-for-profit professionals regularly participate in specialized training programs to keep current on developments affecting the not-for-profit organization. With a large nonprofit client base, Rock & Hammer’s experienced team provides much more than financial statements and information returns. We also assist our clients in developing cost allocation plans, streamlining their grant reporting process, and in the implementation of internal control procedures, helping reduce the risk of fraud.
Assurance services primarily involve the audit of financial statements and the issuance of an opinion on the fairness of the presentation of financial position and results of operations of an entity. At Rock & Hammer, we use a constructive approach to auditing. Our philosophy and practice is to blend the technical, the practical and the business approach in the conduct of each engagement.
- Audit, reviews and compilations of financial statements
- Compliance audits
- Agreed-upon procedures engagements
- Internal control assessments
A dedicated group of professionals within Rock & Hammer’s Not-For-Profit Services division is responsible for the tax services for all our not-for-profit clients. They understand the tax issues these entities face, and they work with these clients to make sure returns are prepared accurately and in a timely manner.
- Consultation and preparation for application for tax exempt status
- Annual state and federal return filings
- Other regulatory filing compliance
- Tax planning for excise tax and other complex issues
- Advice on formation, mergers, liquidations and unrelated business income tax
- Advice on other tax related issues including sales tax, payroll tax, property tax, etc.
- Internal controls review
- Other planning and general business consulting
Rock & Hammer’s Advisory Services encompass the analysis of business problems, the evaluation of the scope of specific situations, as well as the development of solutions and alternative procedures. The purpose of this comprehensive endeavor is to assist clients in solving their management problems.
The scope of an advisory engagement is determined in large measure by the client, and depends partially on the extent of involvement of the client’s own personnel. Rock & Hammer aims to provide clients with “know-how” by using personnel who have the knowledge and experience to serve clients in a wide range of functional areas such as accounting systems, computer systems, financial controls and organizational structure.
- Advice on accounting and bookkeeping issues, including establishing accounting and financial reporting systems
- Advice on adherence with Generally Accepted Accounting principles
- Evaluation of accounting systems, policies and procedures
- Strategic planning
- Board of Directors governance training and best practices
- General business advisory services
- Forensic services
- Business valuations
Some of the other services we provide to not-for-profits & foundations include:
- Bookkeeping services
- Payroll services
- Capital and operation budgets
- Risk Assessments
- Preparation of information returns
- Development of cost allocations
Rock & Hammer’s not-for-profit clients include:
- Private foundations
- Public and private universities
- Arts and cultural organizations
- Human service organizations/social service agencies
- Private schools
- Supporting organizations
- Public charities
- Institutions of higher education
- Retirement plans
- Labor unions
- Membership organizations
- Religous organizations