Accounting Services for Nonprofit Organizations

Accounting and Financial Planning for Alberta Charities and Nonprofits

Gallo LLP is your trusted partner in providing comprehensive accounting services tailored specifically for nonprofit organizations. Specialized accounting services tailored to the needs of nonprofits play a pivotal role in ensuring the financial health and sustainability of your organization. Alberta nonprofits operate under a distinct set of regulations and guidelines, so it’s important to have expert advice to ensure that not only are you following all regulations, but you’re also making the most of your current finances. Performing annual audits and reviews, maintaining transparency for stakeholders, and detailed record keeping are part of the important work a Chartered Professional Accountant can help with. Our team will take care of your finances so you can focus on what you do best – making the world a better place with your nonprofit.

Our dedicated team is committed to assisting you in achieving your mission by providing top-notch accounting solutions. From financial planning to compliance with regulations, we’ve got you covered.

Learn more about our professional accounting services for nonprofit organizations today.

Trusted by These Nonprofit Organizations

Our Services

Our team of financial gurus will help with operational and reporting requirements that will fulfill your annual regulatory compliance in the following areas:

  1. General Accounting Services:

We offer a wide range of accounting services tailored to meet the specific needs of nonprofit organizations. Our team will ensure accurate and timely financial reporting, allowing you to make informed decisions for your organization.

  1. Financial Planning:

Our financial planning services are designed to help you effectively manage your resources and achieve your long-term goals. We’ll work closely with you to develop strategic financial plans that align with your mission and objectives.

  1. Bylaw Assistance:

Understanding and complying with bylaws is crucial for nonprofit organizations. We provide expert assistance in drafting and interpreting bylaws to ensure compliance.

  1. Incorporation/Charitable Registration:

We guide you through the process of incorporation and charitable registration, ensuring that your organization meets all legal requirements.


  1. Annual Returns, Audits, and Reviews:

Our team will handle all aspects of annual returns, audits, and reviews, providing you with peace of mind knowing that your financials are in compliance with regulatory standards.

  1. Funder/Stakeholder Reporting:

We assist in preparing comprehensive reports for funders and stakeholders, showcasing your organization’s financial performance and impact.

  1. Compliance with Federal and Provincial Regulations:

Staying compliant with regulations is essential for nonprofit organizations. We keep you updated on regulatory changes and ensure full compliance at all levels.

  1. Record Keeping/Entries:

Proper record-keeping is crucial for maintaining transparency and accountability. Our team will help you establish efficient record-keeping practices and accurately maintain financial records.

  1. Cash Flow Advice:

Managing cash flow effectively is key to the sustainability of nonprofit organizations. We provide expert advice and strategies to help you optimize cash flow and mitigate financial risks.

  1. And More:

In addition to the above services, we offer a range of other accounting solutions tailored to meet the unique needs of your organization.

Nonprofit Accounting is Different

Nonprofit accounting differs from for-profit accounting in several key ways; however, one of the primary ways nonprofit accounting is different is that nonprofits are required to demonstrate accountability and transparency to their donors, stakeholders, and regulatory bodies. Nonprofit financial statements need to emphasize impact and resource allocation rather than profitability, as well as take grants and donations into consideration. Compliance with grant requirements, including reporting on fund usage and program outcomes, is crucial for maintaining donor and stakeholder trust.

Along with increased transparency and reporting, nonprofit accounting needs to comply with all provincial and federal taxation laws for charities and nonprofits, provide donors with the necessary tax receipts, and Alberta nonprofits are required to perform an annual financial audit or review of all their financial documents. Having a professional accountant assist in all your accounting will ensure greater detail and accuracy of all your financial documents. An added benefit of having a professional nonprofit accountant is utilizing tax benefits and write offs and consulting on cash flow, financial planning, and more.

Overall, nonprofit accounting requires a specialized understanding of the unique financial challenges and reporting requirements faced by organizations dedicated to furthering charitable missions. By partnering with Gallo LLP, who specializes in nonprofit accounting, you can ensure compliance, transparency, and effective financial management to support your mission.

Nonprofit Accounting FAQ

Nonprofit accounting in Canada refers to the financial management practices tailored for organizations operating for charitable, social, or community welfare purposes. It involves tracking and reporting income, expenses, and assets while adhering to specific regulations set by the Canada Revenue Agency (CRA) for nonprofit entities.

Nonprofit organizations in Canada handle donations by recording them as revenue and issuing tax receipts to donors, provided the organization has charitable status. These donations are crucial for funding the organization’s programs and activities, and proper accounting ensures transparency and compliance with CRA guidelines.

The key financial statements required for non-profit organizations in Canada include the Statement of Financial Position (Balance Sheet), Statement of Operations (Income Statement), and Statement of Cash Flows. These statements provide insights into the organization’s financial health, including its assets, liabilities, revenues, and expenses.

Fund accounting is essential for non-profits in Canada as it helps segregate resources for specific purposes, such as programs, fundraising, and administration. By tracking funds separately, organizations can ensure accountability and transparency in how donor contributions are utilized, which is crucial for maintaining trust and compliance with regulatory standards.

Nonprofit organizations in Canada need to be aware of various tax considerations, including eligibility for tax-exempt status, filing requirements for charitable organizations, and compliance with Goods and Services Tax/Harmonized Sales Tax (GST/HST) regulations. Understanding these tax implications is vital for ensuring financial sustainability and compliance with CRA guidelines.

Nonprofit organizations in Canada can ensure financial accountability and transparency by implementing robust internal controls, conducting regular audits, and adhering to recognized accounting standards such as the Canadian Accounting Standards for Not-for-Profit Organizations (ASNPO). By prioritizing transparency and accountability, organizations can build trust with stakeholders and demonstrate their commitment to ethical financial management practices.

At Gallo LLP, we’re dedicated to supporting nonprofit organizations achieve their missions without having to worry about their finances and accounting. Contact us today to learn more about how we can help you with your accounting needs!