--- title: "Non-Profit Accounting in Southlake, TX | Wallace CPA" description: "Accounting and tax filing for non-profit organizations in Southlake, TX: books, annual returns, exempt status questions and board-ready reports." url: https://wallacecpa.multisites.ai/services/nonprofit-accounting publisher: Wallace CPA phone: +1-877-682-1171 quote: https://wallacecpa.multisites.ai/contact --- Wallace CPA ยท Southlake, TX # Non-profit accounting and tax filing in Southlake, TX Non-profit accounting means tracking donations and spending by purpose, and meeting IRS filing rules for exempt organizations. Wallace CPA helps Southlake, TX non-profits with books, board reports and annual information returns, so records are ready when the filing is due. [Call (877) 682-1171](tel:+1-877-682-1171)[Send a message](https://wallacecpa.multisites.ai/contact?service=Non-profit%20organizations) ![A smiling shop owner in an apron, arms crossed, inside a small store](https://wallacecpa.multisites.ai/_astro/shop-owner.D95xbOyy_1pRKjs.avif) ## What's included - Bookkeeping and reports for non-profits - Annual Form 990-series return preparation - Questions on applying for tax-exempt status - Budgets and board reports - Review of internal controls - Records for grants and donors ## When people call - You are starting a non-profit and have exempt-status questions - A board member asks for better reports - Your annual return is due - You need records for a grant - Your treasurer is new ## What makes non-profit accounting different? Non-profits track money by purpose, report to a board and file public information returns. The books show restricted gifts and program costs separately. See [bookkeeping](https://wallacecpa.multisites.ai/glossary/bookkeeping) and [small business accounting](https://wallacecpa.multisites.ai/services/small-business-accounting) for the basics that carry over. ## What does the IRS require each year? The IRS says exempt organizations are generally required to file an annual return and that an organization that does not file as required for three consecutive years automatically loses its tax-exempt status. The right form depends on the size of the organization. Check the year's IRS filing page for current thresholds. ## How does an organization apply for exempt status? The IRS offers a step-by-step process for the application, and filings are done online. Which type of status you seek depends on your purpose. An attorney can advise on legal form and on the application. We cover accounting and tax questions. ## What reports should the board see? Boards usually see a statement of financial position, a statement of activities, a budget comparison and a cash summary. Regular, simple reports help trustees ask good questions. See also [internal control help](https://wallacecpa.multisites.ai/services/audits-reviews-compilations). General information, not advice for your situation. Talk with a CPA about your own facts before you act. ## Questions about Non-profit organizations Ask anything else: call [(877) 682-1171](tel:+1-877-682-1171). [Read the guideThe small business tax and bookkeeping year, month by month](https://wallacecpa.multisites.ai/guides/small-business-tax-calendar) ### Are non-profits exempt from every tax? No. Exempt status covers certain federal income tax. Other taxes and filings may still apply. Talk to a CPA about your organization. ### Who prepares our annual return? We can prepare the Form 990-series return for your organization. ### Can you help us apply for exempt status? We can help with the accounting and tax questions. An attorney can advise on legal form. ### Is this tax advice? No. It is general information. Talk to a CPA about your situation. ## Related services - [Small business accounting](https://wallacecpa.multisites.ai/services/small-business-accounting) - [Audits, reviews and compilations](https://wallacecpa.multisites.ai/services/audits-reviews-compilations) - [QuickBooks setup, training and cleanup](https://wallacecpa.multisites.ai/services/quickbooks) ## Sources 1. [IRS: Annual filing and forms (exempt organizations)](https://www.irs.gov/charities-non-profits/annual-filing-and-forms) 2. [IRS: Applying for tax exempt status](https://www.irs.gov/charities-non-profits/applying-for-tax-exempt-status) ## Talk to Wallace CPA Call the Southlake office and say what you need: a return, an IRS letter, your books or a new business. Have the notice or last year's return nearby if you have one. [Call (877) 682-1171](tel:+1-877-682-1171)[Send a message](https://wallacecpa.multisites.ai/contact) 180 State Street, Suite 225, Southlake, TX 76092