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Situation
Two non-profits with similar missions and programs made the decision to merge. Eide Bailly worked with the merged entity to ensure financial, business and tax issues were addressed appropriately and in a manner most advantageous to the new organization.
Solution
Because some of the tax and audit issues for the new organization were different than what either organization had previously experienced, the Eide Bailly team proactively addressed each issue with management. We also worked with the newly formed non-profit to file the final tax return for the expiring organization and ensure its new federal tax ID was current. Each of our recommendations was in line with the expectations of the non-profit's national organization.
Results
- Eliminated unnecessary surprises and issues because of effective structuring of the merger from the onset.
- Performed Single Audits seamlessly, resulting in uninterrupted federal funding.
- Implemented the most efficient accounting practices in the new organization.
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