Non Profit Audits

Non-Profit and Foundations

We advise boards of directors, chief executives and financial officers on issues in financial management, government and grant compliance, and day-to-day operations. McKenzie specialists assist non-profits such as churches, synagogues, schools, charitable organizations and civic groups in understanding federal guidelines and managing financial requirements in the most cost-effective and efficient way. Equally important, as your advisors we act to protect your most precious commodity – your reputation.

Attestation and Other Services

We perform financial statement audits and agreed upon procedures. McKenzie has extensive experience in single audits (OMB circular A-133 – Compliance Requirements): audits of HUD mortgages: audits of non-profits (OMB A-110 – Uniform Administrative requirements for Grants and Agreements); and provides consulting services to agencies receiving such funds. The firm recently received the highest rating for its “peer review”, a “pass”, indicating that the firm’s system of quality control meets the requirements of the quality standards for its’ accounting and auditing practice. McKenzie was recently awarded a million dollar contract by the Government to provide auditing, accounting and consulting services to Federal agencies and recipients of Federal funds.

Analyzing Revenue Sources: This includes reviewing and evaluating unrelated business income (UBI) to assure compliance with IRS regulations.

Examining Transactions: McKenzie professionals reviews include looking for self-dealing or excess benefit issues.

Reviewing Internal Procedures And Controls: We conduct competence reviews to determine the effectiveness of the internal control systems and operations, especially relating to OMB Circular A-133 and other applicable Federal government monitoring requirements.

Maximizing Financial Productivity: Our team evaluates operations, budget variances, and income and expenses and looks for ways to increase efficiency and reduce costs.

Special Advisory Services: We are called on to audit compliance with grants; devise defined benefit plans; and develop compensation, retirement, and death benefit plans.