Not-for-Profit & Government Brochure

Higher Education

BKD recognizes higher education as a key growth area for the firm and has committed significant resources at the state, regional and national levels to meet the needs of our clients. We provide audit, tax and consulting services to more than 100 public and private colleges and universities. The experienced and dedicated members of BKD National Higher Education Team can provide the right resources to help meet your needs.

Financial Management

Our strategic planning solutions help demonstrate accountability. We can help:

  • Develop policies and procedures
  • Produce meaningful financial statements and management reports
  • Assist with internal audits
  • Implement governance best practices
  • Strengthen internal controls
  • Improve use of restricted resources
  • Provide benchmarking comparisons
  • Explore financing alternatives
  • Perform management reviews
  • Provide athletic department investigations
  • Conduct performance audits

Tax Risks & Opportunities

BKD provides a wide variety of tax compliance and advisory services to help higher education institutions manage risk. We can help:

  • Perform diagnostic reviews in a variety of areas, including fringe benefits, joint ventures, unrelated business income tax, retirement plans, executive compensation and mock IRS exams
  • Complete tax exemption applications, private letter ruling requests and assist with IRS/state examinations
  • Prepare and/or review tax returns, including offering training and other assistance
  • Analyze key tax issues and provide benchmarking information from Form 990 or 990-PF
  • Assess international tax needs for foreign operations, investments, or payroll

Resource Management

To improve the use of limited resources, institutions should evaluate the profitability of existing programs, efficiency of operations and alternative revenue sources. We can help:

  • Develop cost allocation plans to accurately capture program costs
  • Analyze and forecast cash flows
  • Perform feasibility studies and financial projections
  • Develop budgets and business plans aligned with strategic priorities
  • Perform reviews of operational staffing organizational structure, information flow and procedures to improve efficiencies
  • Evaluate outsourcing options

Student Financial Aid Assistance

We can assist in evaluating the costs and benefits of tuition discounting and develop an effective student financial aid program to recruit and retain students. We can help:

  • Perform tuition discounting benchmarking studies
  • Consider ways to capture program costs and evaluate the effects of discounting
  • Evaluate existing policies and procedures and recommend improvements
  • Improve use of endowed scholarship funds
  • Comply with federal programs

Capital Expenditures

Capital projects frequently require complex financing arrangements that must bridge the timing of receipt of capital pledges. We can help:

  • Evaluate financing alternatives for capital projects and joint ventures
  • Structure tax-exempt bond offerings and lender terms and conditions
  • Analyze the impact of debt covenants
  • Prepare capital budgets
  • Provide technology planning, implementation and support through BKD Technologies
  • Audit your information technology department
  • Audit construction projects

Endowment Performance

Fluctuations in market value can have a dramatic effect on operations and development efforts. We can help:

  • Manage endowment and gift assets and investment policy development, including goal assessment and asset allocation
  • Measure investment performance through BKD Wealth Advisors, LLC, an investment advisory firm registered with the U.S. Securities and Exchange Commission
  • Administer gifts to comply with donor restrictions
  • Enhance development efforts by structuring a comprehensive development plan, including gift acceptance policies and deferred-giving arrangements
  • Evaluate spending-rate policies

Debra Ladyman

National Industry Partner
Audit

Debra Ladyman

National Industry Partner

Audit

Not-for-Profit & Government

201 N. Illinois Street, Suite 700
P.O. Box 44998
Indianapolis, IN 46244-0998 (46204)

Indianapolis
317.383.4000

Wallace Wetherill

Partner
Audit

Wallace Wetherill

Partner

Audit

Not-for-Profit & Government

200 E. Main Street, Suite 700
Fort Wayne, IN 46802-1900

Fort Wayne
260.460.4000

Mary McKinley

Partner
Audit

Mary McKinley

Partner

Audit

Not-for-Profit & Government, Health Care

220 W. Main Street, Suite 1700
P.O. Box 1178
Louisville, KY 40201-1178 (40202)

Louisville
502.581.0435

Abe Cole

Assistant Managing Partner

Abe Cole

Assistant Managing Partner

Insurance, Not-for-Profit & Government

1201 Walnut Street
Suite 1700
Kansas City, MO 64106-2246

Kansas City
816.221.6300

Robyn DeVore

Partner
Audit

Robyn DeVore

Partner

Audit

Not-for-Profit & Government

1120 S 101st Street, Suite 410
Omaha, NE 68124-1088

Omaha
402.392.1040

“BKD was instrumental in guiding us with their expert tax guidance and a new accounting methodology for our subsidiary. The result was lowering of the tax liability for both organizations and a streamlined, enhanced accounting approach for our subsidiary.

BKD has in-depth experience with non-profits and especially with organizations that may have a for-profit entity as part of their overall company structure. They have a strong expertise in the tax and IT areas, performed soundly with due diligence, and showed solid work ethics.

As our association has grown, so have the complexities of our business. BKD has been very helpful with answers to questions regarding grants and operations, helping us to demonstrate transparency and best practices as we deliver high-level services to the non-profit sector throughout the state of Colorado.”

— Jeannie Nims, Chief Financial Officer
Colorado Nonprofit Association
Denver, Colorado

I knew BKD had a focus in organizations like us and felt that we could benefit from their industry experience and technical knowledge. Having an audit can be a necessary evil. If that’s all you get, you’re not getting much value. A lot of firms can do an audit, but BKD brings value.

— Bruce Arick, Vice President
Butler University
Indianapolis, Indiana

…We have been totally pleased with BKD's performance and professionalism. The have done a wonderful job of staffing our engagement with highly skilled and thoroughly accurate professionals. They take a very critical approach to their review, ensuring our financials are accurate and in accordance with accounting principals. I am very happy to recommend BKD as a highly professional and very thorough auditing and tax firm.

— Ron Winkler, Vice President & Treasurer
University of Oklahoma Foundation
Norman, Oklahoma

We are very pleased with the dialogue we engage in during audit committee meetings as well as the detail of the audit and audit recommendations. BKD’s team promptly responds to our questions during the annual audit as well as between audits. Their knowledge of not-for-profits has been very helpful over the years, especially when we wrestle with issues that could have an impact on our tax-exempt status.

— Dr. Larry D. Case, CEO
National FFA Organization
Indianapolis, Indiana

BKD is a trusted firm that not only advises Cook on issues we raise, but proactively advises us on changes in the financial environment.

— Scott Miller, Senior Vice
President of Finance
David C. Cook
Colorado Springs, Colorado

I have been pleased with BKD’s detailed approach as it relates to our external audit function. BKD validated a number of concerns of our department and agreed such concerns need to be addressed.

The engagement team brings airport industry expertise, and we have benefited from their knowledge and experience. The team is responsive and candid with MAC management, bringing a fresh perspective with their substantive approach to the audit. BKD’s timely consultations and management letter will help MAC’s leadership and board enhance controls and provide an accurate and credible report to the public.

— Michael Willis, Assistant Director - Internal Audit
Minneapolis Saint Paul Metropolitan Airports Commission
Minneapolis, Minnesota

BKD's personnel from staff to partner that I've worked with are very professional and consider the operations and timelines of the agency personnel in their planning. They are willing to discuss issues and accounting treatments in an open method while ensuring that the standards are met. The comments and recommendations are helpful and have assisted the city in making improvements.

— Beth Machann, City Controller
City and County of Denver
Denver, Colorado

Heartland hired BKD, LLP after using a Big Four firm for many years.  Heartland has experienced BKD’s commitment to excellence first hand and our Board of Directors and staff are glad we transitioned to BKD.  BKD’s personnel have brought a level of utility experience, integrity, and professional demeanor at standards we did not experience before.  BKD responds to our questions in a timely manner and openly discusses accounting treatments to ensure the best course of action is taken and accounting standards met.  Heartland looks forward to a continued successful relationship with BKD and highly recommends them to anyone in the utility industry.

— Mike Malone, Financial Operations Manager
Heartland Consumers Power District
Madison, South Dakota