Services – AltruCore

Review transactions for compliance to exemption status, unrelated business taxable income, and Chapter 42 Excise Taxes including advising on:
- Qualifying distributions, grantmaking and expenditure responsibility
- Inter-company transactions
- Conflict of interests with regard to private benefit, inurement and self-dealing
- Detection of disqualified persons and interested transactions
Donation acknowledgement letters and deductibility of contributions
Provide analysis and memorandum on transactions with potential conflict for compliance to tax statutes
Account for and report the effects of taxes under ASC 740 Income Taxes
Entity formation, new projects, and initiatives evaluation including:
- Legal entity structure and formation in compliance for federal tax exemption
- Financial planning, funding strategies, and forecasts
- Form 1023 application
- Applications for state sales tax and property tax exemptions
Support and review third-party preparer federal and state return filings

Advise Board on financial leadership including roles and responsibilities, committees and sub-committees, and charters for these committees
Advise on best practices for financial planning and reporting, as well as the governance over financial matters
Develop program and operational metrics to better monitor performance and output
Design dashboard reporting customized for different key stakeholders
Develop customized key performance indicators to enhance management reporting
Provide synopsis of emerging trends and issues within the nonprofit arena and advise on implications to the organization
Refresh policy and procedures to incorporate changes

Establish or review of accounting infrastructure for efficient financial record keeping
Review of chart of accounts and key accounting assumptions/methodologies to align with the organization’s reporting goals
Develop monthly and quarterly close processes customized to the organization’s reporting needs and complexities

Advise on development and management of annual operating and/or capital budgets, in conjunction with the organization’s long term strategic goals
Develop budget review and forecast process to enable the organization to allot its financial assets effectively and sustainably
Collaborate with multiple stakeholders such as finance personnel, program and department managers, and executives to set financial goals
Optimize operating reserve for availability of sufficient funds for daily cash flow and financial flexibility while enhancing returns on excess cash

Review existing financial processes and identify key controls or control deficiencies
Perform risk assessment for key financial cycles to identify any gaps
Identify and develop key controls and compile an internal controls checklist
Write or update organization’s fiscal policies and procedures while incorporating best practices
Develop processes to support periodic refresh of policies and procedures

Build comprehensive and centralized database of all investments since inception date with record and calculation of:
- Purchases, contributions, distributions, withdrawals, transfers, equalization of unit shares
- Book and Tax/Outside Basis
- Attributes and legal entity structure
Provide provisions, quarterly estimates and proper recording of tax accounts and deferrals.