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Tax Preparation for Nonprofit Organizations

Grow Confidently

We make tax compliance less taxing

Nonprofits are normally not subject to tax on income derived from activities carried on as part of their exempt purpose. Nevertheless, most non-profits are required to file an annual information return with the IRS to provide transparency regarding the organization’s activities. The purpose of this filing is to prevent abuse of not-for-profit status and provide donors with information about the organization’s financial status and operations.

YHB offers a full range of tax form preparation, filing and advisory services for nonprofit organizations. Our extensive experience in working with schools, colleges, universities, churches, associations, arts organizations, foundations, and other tax-exempt entities enables us to efficiently and cost-effectively prepare required forms and assist with related issues. Our active participation in national and state CPA societies ensures that we are fully familiar with the latest IRS reporting requirements for nonprofit organizations.

We would welcome the opportunity to help your organization with these and other tax-related services:

  • Preparation of Forms 990, 990PF or 990T
  • Assistance in preparation of Forms 1023 and 1024
  • Special tax filings
  • Review of possible Unrelated Business Income Tax (UBIT) activities
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Contact us when it’s time to move forward.

Jacob Pendergraft
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Jacob Pendergraft
CPA
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About Jacob

Jacob graduated from Shenandoah University with a Bachelor’s degree in Business Administration (focus in accounting) in 2012 and a Masters of Business Administration in 2013. He became a licensed CPA in 2015. Jacob joined YHB in 2013. His career focus has been in the audit of construction, nonprofit and governmental organizations.

INVOLVEMENT & MEMBERSHIPS
  • American Institute of Certified Public Accountants (AICPA)
  • Virginia Society of Certified Public Accountants (VSCPA)
  • Virginia Government Finance Officer’s Association (VGFOA)
  • Associated Builders and Contractors (ABC)
  • Associated General Contractors (AGC
Andy Boyles
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ABOUT ANDY

Andy graduated with a Bachelor’s degree in Accounting in May 1999 from James Madison University.  He has worked in public accounting his entire career at firms serving the Washington DC and Richmond metropolitan areas.  His experience includes working with closely held businesses and organizations in a variety of industries including real estate and construction, transportation, nonprofit, and manufacturing.  His experiences in these industries include working with businesses of all sizes in both the assurance and tax fields.  He also has an in-depth understanding auditing employee benefit plans.

Andy has presented on topics including Computer Assisted Audit Techniques for the annual “Virginia Society of CPA’s Audit and Accounting Conference” and been a guest speaker for several construction industry associations presenting on topics including understanding construction contractor financial statements and fraud issues for construction contractors.

Andy has been honored in Virginia Business as a Super CPA in the Young CPAs category.  He currently serves on the Executive Committee and is Treasurer of the nonprofit organization Rebuilding Together Richmond.  He is a member of both the Associated Builders and Contractors Virginia Chapter and the Associated General Contractors of Virginia and currently is on the membership committee and young leader’s council for these organizations.

EDUCATION
  • Bachelor’s degree in Accounting in 1999 from James Madison University
Olivia Hutton
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Olivia Hutton
CPA
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About Olivia

Olivia began her accounting career at YHB in 1998, with a B.S. degree in business (major in accounting) from Bridgewater College and a Certificate in Nonprofit Management, sponsored by the University of Virginia. She is a member of the American Institute of Certified Public Accountants and the Virginia Society of Certified Public Accountants.

Experience

Olivia focuses on providing financial reporting services to nonprofit organizations, especially private schools, colleges, universities, and foundations. In addition to conducting audits and reviews, she has helped clients prepare Form 990, 990-T and Form 990-PF informational returns. As a member of our Nonprofit and Governmental Services team, Olivia has been named a Super CPA by Virginia Business nonprofit certificatemagazine in the nonprofit/governmental field as well as the “Young CPAs” field.

 

Expertise

Because she specializes in conducting audits for nonprofit organizations, Olivia has a thorough understanding of applicable regulations and audit standards. This expertise enables her to perform audits efficiently and issue accurate financial statements quickly after completing field work. In addition, she is very good at keeping lines of communication open and letting clients know about current developments in the industry and recently issued accounting standards.

 

Approach

For Olivia, the key to efficient service is learning all she can about an organization and its needs. She meets with management to find out whether the nonprofit has endowments, restricted funds or other financial features that require special attention. In conducting an audit, Olivia lets a client know what types of information she will need, documents internal controls and provides a draft financial statement as soon as field work is completed, so the client can review it at the same time a YHB principal does.

Speaking Engagements
  • Form 990 at YHB Annual Not-for-Profit Symposium, Loudoun Chamber Not-for-Profit Academy, Nonprofit Education and Training Workshop, and for other various groups.
    Audit and Tax Update at Richmond Chapter of CPAs and YHB Annual Not-for-Profit Symposium.
    Good Governance at Nonprofit Education and Training Workshop, Virginia Foundation for Community College Education Conference, and Hampshire County Community Foundation
  • New Accounting Standards at the YHB Annual Not-for-Profit Symposium
  • “Top five things to know in managing a Not-for-Profit Organization” at Shenandoah Valley Nonprofit Alliance for Excellence
  • Not-for-Profit Finance Fundamentals at Center for Nonprofit Excellence
  • Finance Management at the Lord Fairfax Community College Academy
Jennifer Files
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About Jennifer

Jennifer joined Yount, Hyde & Barbour in 2003 and holds a B.S. degree in accounting from Robert Morris University. She is a member of numerous organizations within the community, including the American Institute of Certified Public Accountants, the Virginia Society of Certified Public Accountants, the Association of Certified Fraud Examiners, the National Association of Certified Valuators and Analysts and is also on the Special Review Committee of the Government Finance Officers Association.

Experience

Throughout her career, she has worked on a variety of audit, tax, and consulting engagements for clients across many industries. She continues to lead our clients Single Audit compliance, Federal Acquisition Regulation (FAR) and governmental audit needs. Since discovering her passion for internal controls and fraud prevention, she has performed numerous forensic accounting and litigation support engagements, including conducting forensic analysis and investigation and interviews of witnesses and potential persons of interest. Working in conjunction with YHB’s niche specialists, she is able to assist with internal control, fraud and litigation support needs across various industries.

Expertise

She enjoys working with clients to identify deficiencies in their internal control environment, to find efficiencies in their processes, and to help clients defend and protect their bottom line.  Jennifer specializes in the design and implementation of internal controls to help prevent fraud. Because of her specialized knowledge, Jennifer is often invited to speak to audiences regarding internal controls, fraud and forensic accounting. She has expanded her expertise by becoming a Certified Fraud Examiner (CFE) and Certified Valuation Analyst (CVA).

Approach

Every client, every company, every control environment is unique. Jennifer takes the time to thoroughly understand her client’s needs and objectives. The result is a customized solution. No two businesses (or fraud cases) are alike, and for that reason, no two internal control structures should be either.

Katrina Gochenour
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Katrina Gochenour
CPA
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About Katrina

Katrina graduated from the University of Virginia with an undergraduate degree in Accounting in May 2011 and graduated from James Madison University with her Masters of Science in Accounting in August 2012. Katrina joined YHB in January 2012 and became a licensed CPA in 2013.  In 2015, Katrina was nominated and won an opportunity to be part of the Virginia Society of CPA’s Leadership Academy. This is an exclusive opportunity only given to a handful of CPA’s across Virginia.

Expertise

Since joining YHB, her career focus has been on nonprofit organizations such as private schools, colleges, foundations, religious organizations, museums, and other nonprofit entities. Her service to those organizations include audit and attest as well as tax services. Recent CPE includes the Not-for-Profit Conference held by the AICPA as well as the NFP Certificate Program I. Katrina has previously presented at YHB’s annual nonprofit symposium on the financing reporting standard updates for nonprofit organizations. She has also given a presentation on internal controls at a seminar hosted jointly by YHB and Evangelical Council for Financial Accountability. Katrina gives back to her local community by volunteering at a local healthcare facility where she assists the Activities Director with various activities for the residents.

Claire Manspile
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About Claire

Claire graduated from West Virginia University with a Bachelor’s of Science degree in Accounting in 2009 and a Master of Professional Accountancy in 2010. She became a licensed CPA in 2012. Prior to joining YHB, Claire was an Audit Supervisor with Ernst & Young, LLP in Pittsburgh, Pennsylvania. She joined YHB in 2013. Her career focus has been in the audit of nonprofit and governmental organizations. Recent presentations include “Best Practices for Boards and Staff” at an event sponsored by Loudoun County Chamber of Commerce.

Education
  • Bachelor’s of Science in Accounting  from West Virginia University in 2009
  • Master of Professional Accountancy from West Virginia University in 2010
Allison Shrader
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Allison Shrader
CPA
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About Allison

Allison joined YHB in 2015 after earning both her Bachelor of Business Administration in Accounting and Master of Science in Accounting from James Madison University. Allison completed her testing to become a Certified Public Accountant in 2016. During her time at YHB, Allison has focused on providing services to not-for-profits and closely held businesses, providing a range of audit and tax services. 

 

Allison is an active member in the Virginia Society of Certified Public Accountants (VSCPA), American Institute of Certified Public Accountants (AICPA) and the Top of Virginia Chamber of Commerce.

Christopher L. Frye
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About Chris

Chris joined Yount, Hyde and Barbour, P.C. in 2004 after graduating from Virginia Tech, where he earned a B.S. degree in accounting. He is a member of multiple committees, including the American Institute of Certified Public Accountants, the Virginia Society of Certified Public Accountants, the Associated Builders and Contractors, the ABC-VA, Management Education Committee, the Associated General Contractors (AGC) and the Construction Industry CPAs/Consultants Association.

Experience

During his time with the firm, Chris has focused his efforts on providing audit, review, compilation and tax services to clients in a variety of industries, including construction, government contracting, real estate and not-for-profit entities. Chris also specializes in assisting clients with strategic performance management, including the implementation of dashboards and overall process improvements.

Expertise

Through continuing education and professional development, Chris stays up-to-date on the trends and changes affecting his clients’ industries and the accounting profession as a whole. He regularly speaks and writes articles on these relevant topics as they arise. In addition to being a licensed CPA, Chris has also earned a CSPM (Certified in Strategic Performance Management) designation through MentorPlus®. This designation allows Chris to provide value to his clients above and beyond tax, audit, and other compliance services.

Approach

Chris strives to take a “client centric” approach, where services are based on the actual needs of the client rather than a specific commodity or deliverable. By taking time to understand the operations of a business and its future goals, Chris is able to provide superior customer service and help clients avoid and plan for potential difficulties, rather than just accurately reporting on them once they occur.

Other Interests

Chris enjoys spending time with his wife and two sons. His hobbies include exercising, strength training and running, as well as following Virginia Tech Athletics. He served as assistant basketball coach at Millbrook High School from 2004 – 2014.