Government & Not-for-Profit Accounting and Consulting Services
Government and not-for-profit organizations are accountable to more than a bottom line. You’re responsible to the people and communities you serve, while managing funding requirements, financial oversight, compliance, workforce needs, and limited resources.
LBMC works with government entities, not-for-profit organizations, churches, and other mission-driven organizations to help strengthen financial operations, manage risk, support their people, and make informed decisions. Our team brings together audit and assurance, accounting, tax, advisory, cybersecurity, technology, and workforce capabilities so you can spend less time coordinating complex business needs and more time focused on your mission.
Challenges Government and Not-for-Profit Organizations are Facing
Government and not-for-profit leaders are expected to do more with resources that are often already stretched. At the same time, expectations for financial accountability, regulatory compliance, data security, and operational efficiency continue to grow.
Your organization may be working to:
- Meet financial reporting, audit, tax, and compliance requirements
- Manage federal, state, grant, or donor funding requirements
- Strengthen internal controls and financial oversight
- Maintain the accounting and finance capacity your organization needs
- Protect financial, employee, donor, and constituent data
- Recruit, retain, and support employees in a competitive talent market
- Improve systems and processes without adding unnecessary administrative burden
- Give boards, governing bodies, funders, and other stakeholders clear, timely financial information
These challenges rarely exist in isolation. An accounting issue can expose a process gap. A staffing shortage can affect financial operations. New technology can improve efficiency while introducing new risks. LBMC helps you look across those needs and determine where additional expertise or support can make the greatest difference.
Questions About Your Organization’s Needs?
Government and not-for-profit organizations face different requirements, but the first step is often the same: understanding where you need additional support. Whether you’re preparing for an audit, addressing a financial or operational challenge, or looking for ways to strengthen your organization, LBMC can help you determine the right next step.
Services Built Around Your Organization’s Needs
Financial reporting, compliance, technology, workforce, and operational challenges often overlap. LBMC brings specialists across disciplines together so you can address immediate needs while keeping sight of your organization’s broader responsibilities and mission.
Audit, Assurance & Financial Reporting
A well-managed audit starts long before fieldwork begins. LBMC provides audit and assurance services for government and not-for-profit organizations, with an emphasis on clear communication, thoughtful planning, and an efficient process.
Our team supports financial statement audits, Single Audits performed in accordance with Uniform Guidance, and specialized engagements. For government entities, our experience also includes reporting and compliance matters involving GASB standards, Data Collection Form filings, HUD and REAC requirements, TIF certifications, cost certifications, school activity funds, and workers’ compensation funds.
Preparing for an upcoming audit? Our Nonprofit Checklist for a Financial Statement Audit can help not-for-profit leaders understand what to expect and how to prepare. You can also review questions to consider when preparing for a financial statement audit.
Related services:
- Financial Statement Audits
- Internal Audit
- Agreed-Upon Procedures
- Compliance Audits
Accounting & Finance Support
A lean finance team can quickly become stretched by day-to-day accounting, reporting, budgeting, technology changes, or leadership demands. LBMC’s Client Advisory and Accounting Services (CAAS) team can supplement your existing staff or provide outsourced accounting support based on your organization’s needs.
Our professionals help organizations improve the timeliness and usefulness of financial information, strengthen accounting processes, and give leadership greater visibility into financial performance.
If you’re considering additional accounting support, our guide to outsourced accounting services explains how outsourced accounting can fit alongside an internal team and when it may make sense.
Tax & Compliance for Not-for-Profit Organizations
Not-for-profit organizations and churches face tax and compliance responsibilities that can change as the organization grows, receives new sources of funding, or expands its activities. LBMC provides tax support to help leaders understand and manage those responsibilities while staying focused on the organization’s mission.
For organizations still in the early stages, learn more about creating a not-for-profit organization in Tennessee. Leaders evaluating organizational and fundraising structures can also read about differences between public charities and private foundations.
Internal Controls, Risk & Cybersecurity
Strong financial, operational, and technology controls help protect your organization, support accountability, and manage evolving risk. LBMC works with management, audit committees, and governing boards to assess risk, strengthen internal controls, and improve oversight through our Internal Audit capabilities.
Government and not-for-profit organizations also manage sensitive financial, employee, donor, and constituent data. LBMC’s Cybersecurity professionals help identify technology risks, evaluate safeguards, and prioritize areas for improvement through services such as security risk assessments.
For Tennessee-based organizations, we also provide guidance on the Tennessee Information Protection Act and its data privacy requirements, helping leaders understand how evolving regulations may impact their operations.
Related services:
Government & Not-for-Profit Organizations We Serve
LBMC works with public sector and mission-driven organizations with different structures, funding sources, and responsibilities. Our team understands that the needs of a municipality can look very different from those of a charitable organization or church, even when they face similar pressures around accountability, compliance, staffing, and financial oversight.
State & Local Governments
Cities, counties, municipalities, state agencies, and other public entities rely on strong financial oversight while managing budgets, funding requirements, regulatory responsibilities, and public accountability.
Education Institutions
Public colleges, universities, school districts, and other education organizations face evolving funding, reporting, workforce, and compliance needs.
Not-for-Profit Organizations
Charitable and mission-driven organizations must balance financial stewardship and compliance with the need to direct resources toward the people and communities they serve. LBMC supports organizations at different stages, from those just getting started to established nonprofits managing increasingly complex financial and operational needs. If you’re in the early stages, learn more about creating a not-for-profit organization in Tennessee.
Churches & Religious Organizations
Churches and religious organizations have distinct financial reporting, tax, compliance, and governance considerations. LBMC helps leaders strengthen financial oversight and address accounting and compliance needs while staying focused on their mission.
Authorities, Boards & Other Public Entities
Authorities, commissions, boards, and other public entities can face specialized financial reporting, funding, and compliance requirements that call for experience with public-sector organizations.
Healthcare & Community Service Organizations
Not-for-profit and government-affiliated healthcare and community service organizations balance financial and operational responsibilities with the needs of the populations they serve.
The LBMC Difference
Government and not-for-profit organizations need advisors who understand the responsibility that comes with managing public, donor, and organizational resources. LBMC combines specialized experience with access to professionals across accounting, audit, advisory, risk, and technology disciplines.
- Experience with complex requirements: Our professionals understand the financial reporting, funding, compliance, and oversight responsibilities that affect government and not-for-profit organizations.
- Expertise beyond the annual audit: When an issue extends beyond the scope of an audit, you have access to specialists across LBMC who can help address accounting, risk, cybersecurity, and other business needs.
- A relationship built on responsiveness: We prioritize clear communication, leadership involvement, and practical guidance so you know where things stand and what needs attention.
Find the Right Support for Your Organization
Whether you’re preparing for an audit, navigating compliance requirements, strengthening financial operations, or planning for what’s ahead, LBMC can help you determine the right next step.
FAQs About Government & Not-for-Profit Services
What is a Single Audit, and when is one required?
Organizations that expend federal awards may be subject to Single Audit requirements under Uniform Guidance. Requirements and thresholds can change, so understanding how current rules apply to your organization is important when planning for an audit.
Related: Clarifying the Single Audit Threshold Changes for 2024
How should a not-for-profit prepare for a financial statement audit?
Preparation can make the audit process more efficient for both your organization and the audit team. Start early by organizing requested financial information, reviewing key accounts and schedules, and establishing clear responsibilities and timelines.
Related: Nonprofit Checklist: Guide to NFP Financial Statement Audit
How can government organizations prepare for new GASB requirements?
Government organizations should monitor upcoming standards, understand how changes may affect financial reporting, and allow time to update processes, policies, and supporting documentation before implementation.
Related: GASB 101 – Sick of Accruals? Get Ready to Accrue Sick Time!
Can a government or not-for-profit organization outsource its accounting function?
Yes. Outsourced accounting can supplement an existing finance team or provide broader accounting support when an organization lacks the internal capacity or specialized expertise it needs. LBMC’s Client Advisory and Accounting Services can be tailored to the organization’s needs.
Related: The Complete Guide to Outsourced Accounting Services
Why are internal controls important for government and not-for-profit organizations?
Internal controls support reliable financial reporting, protect organizational resources, and help management and governing bodies maintain appropriate oversight. As organizations and risks change, controls may also need to evolve.
Learn more about LBMC’s Internal Audit services.
What cybersecurity risks should government and not-for-profit leaders consider?
Organizations often hold sensitive financial, employee, donor, or constituent information, making cybersecurity an organizational risk rather than simply an IT issue. Regular risk assessments can help leaders understand vulnerabilities and prioritize safeguards.
Learn more about LBMC’s Cybersecurity services.
What is the difference between a public charity and a private foundation?
Both are tax-exempt organizations, but they differ in areas such as funding sources, public support, governance, and certain tax and compliance requirements.
Related: Fundraising Diversity in Public Charities vs. Private Foundations
What should organizations consider when preparing for a financial statement audit?
Clear communication, organized documentation, realistic timelines, and early identification of significant changes can help organizations prepare for the audit process.
Related: Prepare for an Audit of Financial Statements
Meet Our Government & Not-for-Profit Leadership Team
Our government and not-for-profit professionals understand the financial, regulatory, and operational responsibilities that come with serving communities and advancing a mission. Meet the LBMC leaders who bring specialized experience, practical guidance, and a commitment to responsive client service.
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Let’s Talk About Your Organization
Whether you’re preparing for an audit, managing compliance, or improving financial operations, LBMC’s government team is ready to help. We’ll start with a conversation focused on your organization’s needs and priorities.