Directory
Foundations
During this time of increased IRS scrutiny and calls for more transparency, how can your foundation demonstrate financial accountability? BKD National Not-for-Profit Team has extensive experience providing financial, managerial, operational and technological solutions to hundreds of public and private foundations and other tax-exempt organizations. We can help your organization achieve its mission and meet the expectations of your stakeholders with the following services.
Financial Accountability
Sound financial management requires strategic planning and financial statements that demonstrate accountability. We can help:
- Perform an internal audit
- Provide external audit services
- Develop policies and procedures promoting corporate responsibility
- Produce meaningful financial management reports
- Implement best practices resulting from industry standards
- Strengthen internal controls
- Improve use and tracking of restricted resources
- Create strategies for improving profitability of various programs and cost allocation plans to measure profitability
- Analyze and forecast cash flow
- Perform feasibility studies, financial projections and operational reviews
- Develop budgets and business plans aligned with strategic priorities
- Provide benchmarking comparisons
- Explore financial alternatives
Tax Risks & Opportunities
BKD provides a wide variety of tax compliance and advisory services that help your organization manage risks. We can help:
- Perform diagnostic reviews, including intermediate sanctions, unrelated business income tax, retirement plans, executive compensation, payroll and fringe benefits and self-dealing
- Assist with tax-exemption applications, private letter ruling requests and IRS/state examinations
- Monitor public support requirements and recommend status changes
- Prepare and/or review tax returns for public charities, including training and other assistance
- Calculate excise taxes, monitor minimum required payout and carryforwards (for private foundations)
Asset Valuation, Reporting & Preservation
Assets are the lifeblood of any foundation. Income generated from the foundation’s assets is often the largest, and many times only, revenue supporting programs and grants. That’s why valuing, preserving and reporting these assets is critical. We can help:
- Develop and implement investment strategies, including asset allocation and spending rates, and monitor investment manager results through BKD Wealth Advisors, LLC
- Develop policies and procedures for valuing alternative investments
- Value closely held investments with accredited business valuation experts
- Develop investment policies and best practices
Managing Payout & Grantmaking
Are your grantmaking and payout policies appropriate? Do internal systems capture the information necessary to run and evaluate your program? Do grantees report program or grant results? We can help:
- Design and implement grant programs, internal controls and policies and procedures
- Provide training to program staff on not-for-profit financial reporting models
- Assist in developing policies and procedures for monitoring grantees including specific testing of grantee program expenses
- Analyze cash flows for program-related expenditures
- Evaluate the need for an operating foundation to provide particular program activities
Planned Giving
The transfer of wealth may involve split-interest agreements that can create record-keeping and tax challenges for your organization. BKD can help:
- Implement policies and procedures to protect you and your donors
- Evaluate the tax implications of the various types of agreements, including specific payment and reporting requirements
- Determine impact of annual grants on excise tax
- Prepare tax returns for charitable trusts
Technology
BKD Technologies helps membership organizations make the most of their technology investment. As licensed resellers of Microsoft Dynamics GP and Sage Software financial applications products, both industry specific and general business, we can help you:
- Select, implement and support new systems and software
- Track membership activity and donations
- Coordinate project and grant information
- Customize fund accounting
- Assess your IT security risks and implement improvements
- Increase operational efficiency
Debra Ladyman
Debra Ladyman
National Industry Partner
Audit
Not-for-Profit & Government
Indianapolis
317.383.4000
Joyce Dulworth
Joyce Dulworth
Partner
Tax
Health Care, Not-for-Profit & Government
Fort Wayne
260.460.4000
Mike Engle
Mike Engle
Partner
Tax
Health Care, Not-for-Profit & Government
Kansas City
816.221.6300
Paige Gerich
Paige Gerich
Partner
Tax
Health Care, Not-for-Profit & Government
Houston
713.499.4600
Gregory Sissel
Gregory Sissel
Partner
Audit
Not-for-Profit & Government
Houston
713.499.4600
- Colorado Nonprofit Association
- Butler University
- University of Oklahoma Foundation
- National FFA Organization
- David C. Cook
- Metropolitan Airports Commission
- City and County of Denver
- Heartland Consumers Power District
“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
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