We have been working with local nonprofits and governmental units since our doors opened in 1980. Such organizations have grown with the success of the High Country as have their tax and audit reporting responsibilities. Our professionals bring many years of experience and insight from various industries to assist these organizations in remaining compliant.
Tax
Are you getting enough out of your Form 990? This is a public document that many nonprofits could use more effectively to advocate for their organization. Our professionals are familiar with the concerns of nonprofits and can assist in keeping them in compliance with ever changing regulations. Our accurate and timely reporting allows you to focus on the mission of your organization. Consistency in reporting allows you to advocate your cause with reliability and confidence.
Drafting financial statements
Reconciliation of audited financials to tax reporting
Maximizing the impact of the statement of program reporting accomplishments
Allocations for the statement of functional expenses
Unrelated Business Income Tax
Required reporting for fundraising activities
Audit
Our firm was founded on assisting local governments and nonprofits to stay current and compliant. Since 1980 we have cultivated staff with experience and knowledge in the industry and have expanded to match the considerable growth in the High Country. We are members of the Governmental Audit Quality Control Center and our professionals complete annual continuing education on nonprofit audit and reporting requirements.
Required audit level determination
Yellow Book audits
State and Federal Grant compliance audits
Federal and state single audit submissions
Communication and assistance with the NC Local Government Commission
Evaluation of internal control
Drafting of financial statements
Preparation of the Schedule of Expenditures of Federal and State Awards
“Our nonprofit organization, Blowing Rock Conference Center, has benefitted many years by its relationship with COMBS, TENNANT & CARPENTER, P.C. We have security knowing their annual audits will be timely, honest, and we will be well advised. When we have questions, we turn to them first, knowing they will research and offer us the best solution.”
Consultation
Whether your organization is looking for an audit firm to evaluate internal controls or you are an individual seeking advice on how to begin a nonprofit, our professionals are here to help. The unique local perspective we bring allows for our governmental and nonprofit work to be geared for the use of the local community while maintaining compliance with Generally Accepted Accounting Principles and tax reporting. We believe there is a strategic advantage to these services and regularly see their benefit to the local community.
Financial statement review
Budget assistance and cashflow management
Accounting for pledges
Grant compliance and application assistance
Assistance in preparing solicitation licenses
General ledger setup
Accounting software selection