Supporting the Organizations that Support Our Islands

Our dedicated team of professionals understands the unique accounting and reporting challenges non-profit organizations face at both the federal and state levels.

We also recognize that one of our vital roles is to be available throughout the year for advice and feedback. Organizations achieve better results if they understand the financial ramifications of their decisions during the decision making process, not afterwards.

With clients on Maui, the Big Island, Kauai, Molokai, and Lanai, we are capable of providing audit and tax services throughout the State of Hawaii.  Our participation in the AICPA’s peer review program ensures that our services and quality control meet the highest professional standards.

Contact us today to receive a proposal for your next year-end auditing & tax engagement.  A full list of references is available upon request.

Financial Statement Audits

A financial statement audit provides the highest level of assurance that your organization’s financial statements are presented fairly, free of material errors, and in conformity with accounting principles generally accepted in the United States of America. 

An audit may be necessary if your organization needs to:

  • Satisfy grant requirements
  • Provide assurance about its financial statements to donors, grantors, and members
  • Comply with banking covenants

We perform audits in accordance with the following standards:

  • Generally Accepted Auditing Standards (GAAS)
  • Generally Accepted Government Auditing Standards (“GAGAS” aka “Yellow Book”)
  • U.S. Office of Management and Budget (OMB) Circular A-133

Tax Preparation & Planning

In an effort to increase transparency, accountability, and ensure good governance among tax exempt organizations, the IRS and the State of Hawaii have made significant changes to the reporting requirements for non-profits:

Failure to comply with federal filing requirements for 3 consecutive years will result in the automatic revocation of exempt status. 

The IRS imposes substantial penalties for each DAY an exempt tax return is late.

The State of Hawaii now requires many exempt organizations to file an annual financial report with the Hawaii Attorney General. Please contact us if you need assistance is determining whether your organization is required to file.

Not only will we ensure your 990 filings comply with the numerous rules affecting non-profit organizations, but we will help you submit your filings on time.  Our tax services include:

  • Preparation of Federal forms 990 & 990-EZ
  • Preparation of Federal form 990T for Unrelated Business Taxable Income
  • Hawaii State annual reports
  • Consultation and preparation of application for tax exempt status
  • General Excise tax planning

Reviews

Reviews are less comprehensive than an audit and provide limited assurance about an organization’s financial statements. 

Compilations

Compilations are appropriate if you need financial statements for your own internal use or for limited use by third parties. Since we generate financial statements using information you provide, we do not express an opinion or provide assurance for compilation engagements.