Adding to the daily struggle for resources, non-profit organizations are increasingly challenged by stricter funding requirements — thereby, requiring them to have a more accurate reporting and financial accountability structure.   More than ever, it is critical that non-profit organizations build a strong financial foundation so that most of their resources are allocated to achieving their mission and growing legacy organizations. 

Our non-profit practice area serves as a resource to build a strong financial foundation.  We can handle the more complex reporting challenges; provide recommendations for internal control structures that encompass financial accountability; and provide training to internal accounting staff.

The Prado & Renteria non-profit practice area consists of individuals with extensive accounting, audit and tax experience making it easier for organizations to focus on their mission-driven initiatives and hence building and growing their legacy.  

Our non-profit organizations practice area provides specialized accounting, audit, consulting, and tax services that bring simplicity to a highly complex function. 

See Below to learn more about the services provided under this practice area.

Non-Profit Organization Services

Non-profit organizations are under pressure to track and account for the funds that they receive for specific programs.  Credibility is greatly linked to accurate documentation and reporting.  Therefore, information gathering, document retention, accurate reporting and accountability are critical factors to consider. 

The following are the accounting services that we offer:

  • Financial statement compilation
  • Accounting closing procedures (annual, biannual, quarterly, monthly)

For non-profit organizations, donors may seek to review audited financial statements during the grant award decision process.  A non-profit organization may also be required to submit audited financial statements with its annual state tax filing.  In both of these scenarios, credible, audited financial statements may be critical to success.

Prado & Renteria’s financial statement audit experience includes extensive exposure to auditing techniques and methodologies for testing account balances and transactions in accordance with Generally Accepted Auditing Standards. 

The following are the types of audits that we conduct:

  • Financial
  • Investigative
  • Compliance
  • Internal Control
  • Single Audits
  • Special purpose audits

Essential to building a solid financial foundation are the selection and integration of an accounting system and the development or review of internal controls, in order to identify deficiencies; and to reduce and/or eliminate the risk of financial statement misstatement.

The following are the types of consulting services that we offer:

  • Accounting system selection, implementation and training
  • Accounting policies and procedures

In addition to preparation of informational tax returns, we have assisted clients to effectively negotiate and/or respond to tax penalty and/or deficiency notices.

We provide a range of tax return preparation services:

  • Informational tax returns (Form 990)
  • Payroll tax returns
  • Sales tax returns

Prado & Renteria is the largest Hispanic owned CPA firm in Illinois. It provides specialized accounting, audit, consulting, and tax services across its unique practice areas.