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Nonprofit Accounting & Tax Compliance

Form 990 preparation, compliance, and financial oversight for NJ nonprofits.

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5.0 · 13 Google ReviewsNJ CPA Firm Lic. #20CB00789800

Nonprofit accounting involves maintaining accurate financial records, ensuring compliance with IRS tax-exempt requirements, and preparing annual information returns (Form 990). Monaco CPA provides Form 990 preparation, grant compliance support, and bookkeeping for NJ nonprofit organizations.

Nonprofit organizations have unique financial and compliance obligations. You must maintain your tax-exempt status, file accurate annual information returns, and meet donor and grant reporting requirements, all while serving your mission.

Monaco CPA provides accounting, bookkeeping, and tax compliance services for small to mid-size NJ nonprofits, including 501(c)(3) public charities, 501(c)(6) trade associations, and other tax-exempt organizations.

Services span Form 990 preparation, fund accounting setup, and grant compliance, providing the financial oversight your organization needs without the cost of a full-time financial staff member.

What's Included

Form 990, 990-EZ, and 990-N (e-Postcard) preparation
NJ Annual Report (CHAR500) preparation
Fund accounting setup and maintenance
Monthly or quarterly bookkeeping
Grant expense tracking and compliance reporting
Payroll for nonprofit employees
Board financial reporting packages
IRS and NJ tax-exempt status maintenance
Unrelated Business Income Tax (UBIT) analysis
Form 990-T preparation

How It Works

1

Compliance Review

I review your organization's current status, prior returns, and financial records to identify any compliance gaps.

2

Bookkeeping Setup

I establish or clean up your fund accounting records to ensure income and expenses are properly categorized.

3

Form 990 Preparation

Annual Form 990 preparation including required schedules with board review before submission.

4

Year-Round Support

I provide ongoing guidance on transactions that may trigger UBIT, governance best practices, and state charitable registration requirements.

Frequently Asked Questions

Does a nonprofit need to file a tax return?
Yes. Most tax-exempt organizations must file an annual information return with the IRS. Form 990-N for receipts under $50,000; Form 990-EZ for $50,000–$199,999; full Form 990 for $200,000 or more.
What is the NJ CHAR500?
The CHAR500 is New Jersey's Annual Report for Charitable Organizations, required for nonprofits that solicit contributions in NJ. It must be filed within 6 months of the fiscal year-end.
What happens if a nonprofit fails to file Form 990 for 3 years?
The IRS automatically revokes the organization's tax-exempt status after 3 consecutive years of failing to file. Reinstatement requires a new exemption application and payment of user fees.
What is UBIT?
Unrelated Business Income Tax applies when a tax-exempt organization regularly carries on a trade or business not substantially related to its exempt purpose. Common examples include advertising revenue and rental income from debt-financed property. UBIT is reported on Form 990-T.
Can Monaco CPA help with a Form 1023 application?
Yes. I can assist with preparing financial projections and budget narratives required for Form 1023, coordinating with nonprofit attorneys who handle the legal organization and articles of incorporation.
"5-star experience with Monaco CPA. Highly recommend."

Bhupendra S.

These testimonials reflect individual client experiences and do not guarantee similar outcomes. Results vary based on each client's specific facts and circumstances. No client was compensated for providing a review. Tax savings and outcomes depend on individual tax situations and are not typical of all client experiences.

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IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, I inform you that any U.S. federal tax advice contained herein is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

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What Clients Say About Gregory Monaco, CPA LLC

"Greg was very easy to work with. I had a complicated scenario that he was able to manage, with complete confidence. I would highly recommend using him."

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