With over 100 years of combined experience and 20 years devoted to the not-for-profit industry, BMSS is known for having one of the premier accounting practices in Alabama.
Offering a distinctly different choice, the BMSS Not-For-Profit Practice Group provides hands-on experience and technical skills to serve the unique needs of not-for-profit clients. We supplement our technical approach by analyzing and advising our clients on the many elements of running a successful organization.
Over the years, BMSS has provided practical and innovative solutions to help churches, schools, educational entities, foundations, associations and other organizations reach their goals and fulfill their missions.
How does BMSS serve not-for-profit organizations?
- Bookkeeping services
- Developing practical solutions to internal control issues
- Financial statement audits (including A-122 and A-133)
- Financial statement reviews and compilations
- Identify ways to improve operations
- Local, city and state tax issues including sales & use tax and business licenses
- Preparing Form 990 and other related tax returns
- Special projects such as applications to obtain tax exempt status
- Unrelated Business Income Tax (UBIT)
Not-for-profit organizations need to maintain accurate accounting operations to uphold transparency to donors, to apply for and receive needed funding and to correctly project cash flow. We can work with clients to maintain proper internal controls and provide insight and constructive suggestions that can result in improved operations and accounting procedures.
BMSS is qualified to perform not-for-profit audits and our employees continue to receive necessary continuing education to stay abreast of changes in this area. We are extremely familiar with operating and capital funds, unconditional promises to give, restricted and designated funds, endowed funds, grants and other funding sources and internal controls.
Our tax specialists are well versed in the intricacies of not-for-profit taxation. With the Federal Form 990 and the compliance issues it raises, BMSS tax professionals are able to assist organizations in the significant volume of challenges resulting from the recent overhaul of compliance requirements. The BMSS tax team is here for consultation all during the year - not just in tax season.
BMSS stays on top of changes affecting your industry. Our professionals actively participate in trade associations and continuing education opportunities with:
- AICPA Governmental Audit Quality Center
- Alabama Association of Nonprofits
- BDO Alliance Non-Profit Industry Group
- Church Business Administrators
- Government Finance Officers Association
Through our BDO Alliance USA, we can utilize the Institute for Nonprofit Excellence in Washington, DC.
The power of not-for-profit industry experience we bring is a knowledge-based perspective on trends, opportunities, issues and regulations that frames our approach, addresses your needs and helps you leverage your own capabilities and resources.
BMSS Not-for-Profit Practice Group
Bill Lorimer and his wife, Marian, have four children - Christopher, Andrew, Bryson and Maegan. Bill is a resident of Hoover and attends Hunter Street Baptist Churc... read more
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