Not-for-Profit

Not-for-Profit

Sisterson’s service to the not-for-profit sector began, and continues today, with our service to some of the largest private and family foundations in western Pennsylvania. Over the years, a much broader spectrum of nonprofit and tax exempt organizations has been the source of significant growth to our Firm. We have made a substantial commitment in this area and are proud to serve a variety of organizations widely known in the Pittsburgh area including public charities, membership organizations, private clubs, economic development organizations, as well as foundations.

Our Approach

In order to best serve these clients, we:

  • Develop a thorough understanding of the unique characteristics of and issues that face each organization
  • Provide an uncompromising commitment to quality and technical excellence
  • Deliver personal service and responsiveness that is second to none

This combination results in real value for fees paid. Our success in the not-for-profit arena is evidenced by the continued growth of this practice area and the long-term nature of the relationships we enjoy with our not-for-profit clients.

Sisterson provides service to not-for-profit organizations in numerous ways, including:

  • Audits, reviews and compilations
  • Single audit and related assurance services
  • Tax-exempt compliance and consulting
  • Assistance with accounting outsourcing
  • Internal control analysis
  • Information technology
  • Financial services

Who Will Run Your Organization in the Future?
Any not-for-profit that is serious about surviving the departure of its founder or leader should plan for a smooth transition. Yet one recent survey indicates that only 34% of boards have a written CEO succession plan. Fifty percent of boards surveyed will have to replace a top official within the next five years. This article explains why succession plans are important and offers suggestions on how to create one. (Read on.)

Not-for-Profit Practice

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FASB will propose delays to four new accounting standards

FASB will propose delays to four new accounting standards

In July, the FASB voted to propose a sweeping set of split deferrals for certain entities. The proposal would delay new accounting rules for 1) leases, 2) credit losses on loans, 3) long-term insurance contracts, and 4) hedge accounting.

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