Associations and nonprofit organization sector, managed by the firm’s partner, Gilboa Weissfish, CPA, provides services to hundreds of Associations and nonprofit organizations while focusing on a high level of professionalism combined with personalized service and close support throughout the process.
This sector has unique attributes and complex managerial challenges, which require the appropriate professional response.
Our firm has a dedicated department that specializes in providing specific services to nonprofit organizations and Associations while providing professional support tailored to the different challenges. The services are provided to a broad range of small, medium and large Associations and nonprofit organizations in various fields of activities such as education, religion, sport, culture, welfare, health and more.
Among the clients supervised by our firm are nonprofit organizations boasting a financial turnover of hundreds of millions NIS.
- Financial reports audit for nonprofit organizations in accordance with accounting regulations and provisions of the law.
- Internal audit, risk and auditing body survey – auditing in accordance with the internal audit law and Registrar of Associations Law, alerting to exposure and providing recommendations for process improvement and efficiency. Preparation of correct work and control procedures.
- Provide advice to nonprofit organizations on various matters such as submitting grant proposals, nonprofit organization’s management etc.
- Ongoing support to nonprofit organizations- ensuring proper conduct, conforming to the provisions of the Associations Law and the accountant general, budgetary balance, achieving goals, work methods and maintaining financial stability.
- Professional response to special matters- handling and providing review in special cases: reviving Associations, mergers, voluntary dismantling, collaborations and other dilemmas.
- Taxation and approvals from tax authorities- handling receipt of approval as per section 46 of the income tax law, public institution approval for renting, a residential apartment, financial activity in Associations and aspects of value-added tax and real-estate taxation related to nonprofit organizations.
- Maximizing receipt of support/budgetary funds- assisting with preparation of requests of support from government offices and estates from the Administrator General, preparation of execution reports, checking for financial stability and acceptance criteria, checking projects’ budgets, checking duplicity of support etc.
- Recovery plans for Associations on behalf of the Associations’ Registrar- Ministry of Internal Affairs. Building an applicable recovery plan for Associations and minimize the deficit, recommendations for improving efficiency in expenses and increasing resources. Including preparation of working procedures, a financial plan, annual and long-term budget and routine follow-up on the plans’ implementation.
- Accompany nonprofit organizations in various regulatory audits- in-depth audits by the Associations Registrar and the Accountant General, Ministry of Economics, Ministry of Education, Health Ministry and others.
- Provide routine support and professional consultation to Associations including assistance in building budgets, budgetary control, cash flow planning, assistance in receiving loans and credit lines and more.
- Support nonprofit organizations in special areas subject to specific laws and guidelines- such as Hevrot Kadisha (in accordance with the provisions of the Ministry of Religious Services and relevant laws), special education institutes (in accordance with Health Ministry and Ministry of Education regulations), hospitals, government bodies (the State Comptroller’s Office) etc.
- Routine accounting services- ongoing bookkeeping division and salary accountancy.
Updating and publishing professional memos