Non-Profit Planning and Compliance
Non-profit organizations are unique and have different compliance rules from for-profit business. Private foundations are typically controlled by members of a family or by a small group of individuals, whereas public charities receive a larger amount of their support from the general public or governmental units. Private Foundations and Public Charities have to follow different IRS procedures. The IRS uses very specific revenue and expense categories to determine if an organization will retain its tax-exempt status. At KROST, we can help with the accounting and tax compliance for private foundations and public charities.