Not-For-ProfitIndustry Brochure

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 Group 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)

To learn more, visit our tax-exempt services page.

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

Tondeé Lutterman

National Industry Partner
816.221.6300

Jody Gauthier

Partner
630.282.9500

Joyce Dulworth

Partner
260.460.4000

Richard Wittgren

Partner
317.383.4000

Peter Kiewit Foundation

“BKD’s work with us has been efficient, thorough, discreet, and timely. Their ‘team professionalism’ is an effective process. We could not ask, or imagine, anything better.”

— Lyn Wallin Ziegenbein, Executive Director
Peter Kiewit Foundation
Omaha, Nebraska


Nebraska Children & Families Foundation

“I have found the staff of BKD to be knowledgeable, trustworthy and professional. They have responded quickly and courteously to all of our requests, no matter how large or small. I would highly recommend BKD to any non-profit organization.”

— Mary Jo Pankoke, President
Nebraska Children & Families Foundation
Lincoln, Nebraska


Indiana State University Foundation

"I was very pleased to find the expertise I needed in BKD's Not-for-Profit team out of Indianapolis. Through the results of this project, we were able to receive an objective review of our processes and a second opinion. We were able to develop best practices, benchmark ourselves to our peers, and identify cost reductions. Finally, we were able to provide our board members a state of the union with pleasant results."

— Kevin Hoolehan, Vice President, Finance & Controls
Indiana State University Foundation
Terre Haute, Indiana

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