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Form 990 preparation (cont.)


The form 990 provides a great deal of information about an organization, more than many audited financial statements do, in fact. That's why form 990 is used by organizations like Guidestar to display information about non-profit organizations useful such entities as Grantmakers and potential donors, for example. It doesn't, however, provide the assurance that the amounts reported are reasonably free from material misstatement, that an audit does, unless it was prepared from audited financial statements.

One advantage we offer when preparing your 990 is that we use a template that we'd give you to complete. The template would provide us with much of the information required by the form 990, such as information about contributors, grants and related entities. The remaining information needed to complete the 990 we'd gather from your financial statements and books and records. This approach has been proven to save a considerable amount of time when I prepared 990s, even for non-profit entities I had no experience with, resulting in a lower fee for the preparation.

Of course, should my firm be engaged to perform an audit of your non-profit organization's financial statements, less time would be spent preparing your form 990 than otherwise. This would be especially true if your financial statements are first updated to confirm to the requirements of ASU (Accounting Standards Update) 2016-14. That update was issued by the Financial Accounting Standards Board and is effective for fiscal years beginning after December 15, 2017, and interim periods within fiscal years beginning after December 15, 2018. Similarly, if my firm was engaged to do accounting work prior to preparing your form 990, or if we previously prepared your 990, we'd have the experience to prepare it expediently.

Our price for preparing your form 990 would range from $1,000 to $2,000, depending on the level of complexity and whether we'd be preparing it for the first time.