Not-For-Profit

Overview



We believe in order to properly serve our not-for-profit clients we must concentrate our efforts on their specific needs. Grassi & Co. has developed a diverse group of specialists specifically trained to focus on the challenges unique to the Not-for-Profit Industry. Our not-for-profit specialists are highly aware of the ever-changing operating environments and accounting challenges that exist for not-for-profit organizations. Our keen business sense, gathered from over 30 years of servicing not-for-profit clients, has given us the ability to recommend and develop custom-tailored solutions for clients in a creative and constructive manner.
 
Grassi & Co.'s Not-for-Profit Practice Team assists all types of not-for-profit organizations, such as special needs, foster care, child welfare, social services, healthcare, and educational organizations achieve their business objectives. Now, more than ever, not-for profits are closely scrutinized and held accountable. We utilize our expertise to work closely with an organization's management and governing body to increase overall operating controls, while minimizing challenges and enhancing the organization's overall success.
 
Grassi & Co.'s Not-for-Profit Practice is built around a team of experts who study the industry, building an unmatched knowledge base. By providing counsel to a cross section of the industry, we are well equipped to bring best practices to our clients. The Not-for-Profit Practice Team regularly interviews organizational leaders, bankers, attorneys, thought leaders and advisors across the industry to continue to expand our base of knowledge and to develop innovative new ideas and services. As a result, our depth of knowledge and experience in your industry allows us to bring you market dynamics and conditions and inform you on how they can influence and impact your decisions.
 
Our Not-for-Profit Practice professionals are skilled in assisting organizations with:
  • Accounting and Bookkeeping
  • Audits, Reviews and Compilations of Financial Statements
  • Board of Directors' or Directors Governance Training and Best Practices
  • Business Continuity Planning Evaluations
  • Compliance Audits
  • Consolidated Fiscal Report (CFR) and Other Cost Report Preparation
  • Consultation and Preparation for Application for Tax Exempt Status (IRS Form 1023 and 1024)
  • Evaluation of Accounting Systems, Policies and Procedures
  • Executive Order 38 (EO 38) Guidance and Implementation
  • Forensic Investigations and Accounting
  • Formation, Mergers and Liquidations
  • General Business Advisory Services
  • Managed Care Services
  • Management Advisory Services
  • Preparation of Annual IRS and State Filings (Form 990, 990-T, 990-PF, CHAR 500, etc.)
  • Program-Specific Audits
  • Retirement Planning
  • Strategic Planning & Profit Enhancement
  • Sustainability, Succession and Transaction Services
  • Tax Compliance and Consulting
  • Tax Planning for Excise Tax and Other Complex Issues
  • Uniform Guidance (formerly OMB Circular A-133) Audits
     
Representative Experience
Grassi & Co. maintains a growing client list of not-for-profit organizations, including, but not limited to the following segments:
  • Community-based organizations
  • Continuing care retirement communities
  • Federally Qualified Health Centers (Article 28 Diagnostic and Treatment Centers)
  • Healthcare systems
  • Home health providers
  • Hospitals
  • Housing organizations, including HUD-funded and Low Income (LITC) and New Market (NMTC) tax credit funded
  • Independent schools
  • Infant, toddler and early childhood programs
  • OMH, OPWDD, OASAS, DOH, SED, and OCFS funded agencies
  • Organizations subject to Uniform Guidance
  • Other healthcare providers
  • Philanthropic organizations
  • Preschool and Early Intervention Programs
  • Religious organizations
  • School-aged education programs
  • Social service organizations

 A sampling of industry organizations and regulatory bodies that our local professionals are currently involved with includes:
  • New York State Society of CPAs (NYSSCPA)
  • American Institute of Certified Public Accountants (AICPA)
  • Employee Benefit Plan Quality Center of the AICPA (EBPQC)
  • Governmental Auditing Quality Center of the AICPA (GAQC)
  • New York Coalition of Behavioral Health Agencies, Inc.
  • Council of Family and Child Caring Agencies (COFCCA)
  • Interagency Council of Developmental Disabilities Agencies (IAC)
  • Financial Managers Association of New York (FMA)
  • Nonprofit Coordinating Committee of New York (NPCC)
  • Community Health Care Association of New York State (CHCANYS)
  • Healthcare Financial Management Association (HFMA)
  • Healthcare Association of New York State (HANYS)
  • National Association of Community Health Care Centers, Inc. (NACHC)
  • Home Care Association of New York State (HCA)
  • Home Care Provider of New York State (HCP)

Grassi & Co. also offers Cyber and Information Security services, providing needed peace of mind by helping you understand risk profiles, recognize potential threats, determine risk tolerance and create a cyber and information security roadmap and program. 

Team

Stephen J. Mannhaupt Partner, Assurance and Attest Services Leader
David M. Rottkamp Partner-in-Charge of New York City Office, Not-for-Profit Practice Leader
Alan Silverstein Principal
Anthony Tomaro Partner-in-Charge of Grassi Consulting Services
Pasquale Rafanelli Valuation Senior Manager

Newsletters & Alerts

EAlert: Important Policy Update for NFPs

New Policy updates for Not-For-Profits—What does this mean for you?

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EAlert: IRS Issues Workarounds for SALT Deduction

On December 22, 2017 President Trump signed into law the Tax Cuts and Jobs Act. 

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Mergers & Acquisitions for NFPs

The thought behind merging two companies together is to increase the value of each—the idea that two are better than one. Today’s not-for-profit sector is experiencing an unprecedented change which is moving many NFP organizations to consider merger and acquisition activity.

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EAlert: From the Mayor's Office of Contract Services

To strengthen the partnership between New York City and our human service nonprofit sector, we feature updates from The Mayor’s Office of Contract Services (MOCS).  MOCS oversees New York City procurement and works with City agencies, vendors and community-based organizations to ensure that the contracting process is fair, efficient, transparent and cost-effective.

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Cyberattacks of Nonprofits on the Rise

Cyberattacks and data breaches are commonplace in the news now—it would be easy to miss the changing trend on where these attacks are being focused. Financial institutions and banks will always be prime targets due to the information they contain, but the marked increase of attacks aimed at non-profit organizations, with particular focus on charitable and educational institutions, isn’t as understood.

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