Nonprofit Audit & Review Services

Empowering Nonprofits: Audits with Real Impact

Unlock the power of financial transparency and accountability with SSL Associates’ nonprofit services in Chicago and nationwide. Our talented team ensures your organization’s integrity, compliance, and impact are amplified, empowering you to fulfill your mission with confidence.

SSL ASSOCIATES LTD.

Our Services: Tailored Engagements for Non-Profit Strength

We offer a comprehensive suite of audit and review services designed to meet the needs of tax-exempt organizations. Here’s how we can help.

Receive an independent and unbiased opinion on your financial health. We carefully examine your financial statements to confirm that they accurately reflect your organization’s financial position, results of operations, and cash flows. This verification process adheres to Generally Accepted Accounting Principles (GAAP) and Generally Accepted Auditing Standards (GAAS), providing transparency and confidence to donors, funders, and stakeholders.

Enhance transparency and provide limited assurance on your financial statements. Our financial statement review involves analytical procedures and inquiries of your management to identify any material misstatements. This cost- effective service offers a level of assurance beyond internal bookkeeping while being less extensive than a full audit.

Internal Control Audits

Safeguard your resources and minimize the risk of fraud and errors. Our internal control audits evaluate the effectiveness of your internal controls over financial reporting, fundraising activities, and program operations. This comprehensive assessment identifies weaknesses and provides recommendations for improvement to guarantee the security of your valuable resources.

Compliance Audits (Grant Compliance, Tax-Exempt Status)

Maintain trust with donors and regulators. Verify adherence to specific grant regulations and ensure continued compliance with tax-exempt status through specialized compliance audits. This proactive approach minimizes the risk of non- compliance penalties and ensures continued access to critical funding sources for your important mission.

Focus on specific areas of concern with a tailored approach. Address specific questions or concerns you have about your financial operations with agreed-upon procedures. This service allows you to define the scope of the engagement and confirm that it aligns directly with your unique needs.

Understanding the Nonprofit Audit Process: A Transparent Journey

At SSL Associates, we believe transparency is key for both our services and your organization. That’s why we’re committed to providing a clear picture of what to expect during a non-profit audit. Here’s a breakdown of the typical process and timeframe:

The Stages of a Nonprofit Audit:

Initial Consultation: We start with a consultation to understand your audit needs and goals. This helps us tailor the engagement to best serve your organization.
Planning and Risk Assessment: Our team will collaborate with you to develop a comprehensive audit plan, outlining the scope and procedures. We’ll also conduct a risk assessment to identify potential areas needing closer examination.
Internal Control Evaluation: We’ll assess the effectiveness of your internal controls, ensuring they safeguard your financial assets and promote accurate record-keeping.
Substantive Testing: Depending on the chosen service (audit, review, etc.), we’ll perform various procedures to verify the accuracy and completeness of your financial statements. This may involve analytical procedures, confirmations with external parties, and detailed testing of transactions.
Reporting and Communication: We’ll schedule a meeting to discuss our findings and answer any questions you may have. Upon completion, we’ll provide a clear and concise report outlining our discussion and recommendations.

Timeline Considerations:

The timeframe for a non-profit audit can vary depending on several factors, including:

The complexity of your organization: Larger organizations with intricate financial structures may need a longer audit period.
The scope of the engagement: A full financial statement audit will be more time-consuming than a review or agreed-upon procedures.
The availability of your records: Having well-organized and accessible financial data can significantly expedite the process.

Generally, non-profit audits can range from several weeks to several months depending on the complexity of the engagement and your responsiveness.

We Understand the Unique Needs of Nonprofits

Nonprofit organizations face a special set of financial challenges. Our experienced team is here to help ensure your finances are strong and mission-focused. We are proud to work with a range of non-profit organizations, including:

Social Service Organizations

Food banks, homeless shelters, youth development programs, disaster relief organizations.

Athletic Organizations

Sports teams and clubs.

Educational Institutions

Private schools, universities, scholarship funds, educational foundations.

Arts and Cultural Organizations

Museums, theaters, dance companies, public broadcasting stations, historical societies.

Environmental Organizations

Conservation groups, land trusts, animal welfare organizations, clean water initiatives.

Healthcare Organizations

Free clinics, medical research foundations, hospices, mental health support groups.

Professional Associations

Industry groups, chambers of commerce, legal aid organizations.

Community Foundations

Organizations supporting local initiatives and charities.

Confident Compliance: Request Your Audit Consultation

Trust SSL Associates for meticulous audits tailored to your nonprofit’s needs. We ensure financial integrity, transparency, and compliance to empower your
nonprofit organization to thrive.

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Why Choose SSL Associates for Your Nonprofit Audit?

Non-Profit Accounting Specialists

Our team speaks GAAP & GAAS fluently, ensuring audits align with your specific structure and regulatory requirements.

Tailored Audit Plans

One-size-fits-all doesn’t work. We customize audits to meet your exact needs, saving you time and money.

Focus on Efficiency

We expediently deliver high-quality audits at a fair price to allow you to focus your attention where it matters most.

Proven Success

We know an audit is a headache, and we have a long history of assisting clients just like you. Ask us for satisfied client references.

Open Communication

Building trust matters. We keep you informed and address your questions every step of the way.

Hear from Our Clients

SSL Associates has been a trusted advisor to Wenzak for many years. Their knowledge and valuable insights around tax and reporting impacts of business issues has helped us to navigate key decisions and stay focused on our core business. We greatly appreciate the personal approach and responsiveness of the entire team.

When we started the not-for-profit youth travel soccer club, we quickly grew large enough that we are required to be audited by an independent accounting firm each year. We have used SSL Associates Ltd. for the past seven years and couldn’t be happier with their services. SSL also helped us make improvements to our Quickbooks so that the Audit is now very efficient. Their responsiveness and expertise in non-profit accounting has enabled our staff to stay focused on our mission of providing a competitive and positive learning environment to develop our players both on and off the field.

SSL Associates, Ltd. has been an invaluable resource for our youth hockey non-profit organization. Their team’s expertise in tax compliance and financial reporting has been instrumental in ensuring transparency and accountability to our many families, donors and stakeholders. Their commitment to excellence and their deep understanding of the non-profit sector have made them an indispensable part of our success and a valued partner that we trust and rely on for their guidance.

As the owner-operator of a construction company, my hours are spent focusing on the operational aspects of our business. Managing our year-end financials was an unwelcome challenge that was a large drain on my time. Having SSL Associates, Ltd. freed me to focus my attention where it best served my company, and gave me peace of mind that our accounting would be done accurately, professionally, and on time. Their ability to work hand in hand with our accounting department allows us to tackle problems as they arise throughout the year to ensure all tax & financial reporting deliverables are free of any last-minute headaches