It is a challenge for religious organizations to make sure they are in compliance with the countless financial reporting and legal requirements, classifications, accounting, and fundraising guidelines they face. Religious organizations are becoming increasingly scrutinized under the public's microscope, making it essential that they are cautious and accurate about their expenses and their appropriate classification. In the ever-changing nonprofit environment, if a nonprofit is not in compliance, they can face potentially devastating repercussions, such as strict taxation penalties, modification in their governmental funding, or potential revocation of their tax-exempt status.
Our accountants have years of experience relating to the special financial and tax requirements of religious organizations. At MMKR we understand the challenges you face. Our professional staff is committed to meeting the high demands of these financial reporting requirements, including proper revenue recognition and other unique reporting requirements of the nonprofit industry.