Non-Profit Associations

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Non-Profit Associations

Accounting services for Non-Profit Associations

Foundations and non-profit organizations (NPOs) play an essential role in the development of social, cultural, educational, and environmental initiatives. Their work is often financed through donations, grants, and international programs, which requires precise accounting, clear differentiation of funding by projects, and adherence to regulatory requirements outlined in the Non-Profit Organizations Act.

Behind every successful non-profit organization is not only a dedicated team but also stable accounting services that ensure compliance with all regulatory requirements and build trust with donors, partners, and regulatory authorities.

What distinguishes accounting for Non-Profit Organizations (NPOs)?

Adherence to specific legal requirements

– accounting services are performed in accordance with the Accounting Act and the Non-Profit Organizations Act (NPOA), paying attention to the organization's status – public or private benefit.

Separation of activities

– clear accounting division between business and non-business activities, with separate allocation of expenses and revenues by activities and projects.

Accounting for donations, grants, and external financing

– proper classification of receipts, targeted allocation of expenses, and retention of required documentation for funding organizations.

Annual reporting to registers

– submission of an annual financial statement and activity report to the Central Register of NPOs (for public benefit organizations) or the Commercial Register (if not registered for public benefit), in compliance with deadlines and regulatory requirements.

Compliance with profit distribution restrictions

– as well as clauses for non-taxable income and targeted use of funds, including donations received from individuals and legal entities.

VAT registration for taxable business activities

– if the regulated threshold for taxable turnover or voluntary registration for international projects is met.

Reporting on internationally funded projects

– adherence to specific donor requirements (EU, foreign foundations, etc.), including maintaining separate analytical accounts, budgets, and exchange rates.

Consultation on expense justifications and administrative costs

– including the eligibility of expenses and their proper allocation to projects and activities.

Why do NPOs trust ATP Konsult for accounting services?

Ivan Georgiev

Manager of Sollicitymo Ltd.

"As an organisation working with donors, we need impeccable accounting services. ATP Konsult took care of all the accounting for our projects, including external audits. They understand the specifics of the nonprofit sector and always provide us with timely and accurate advice. Thanks to them, we maintain full transparency with partners and institutions. Association for Educational Projects and Development - Nadezhda Afendova, President ATP Konsult are not just accountants - they are our partner in business risk management. With them, we have built a system to accurately track commissions and payables to partners, which has helped us reduce late payments. With them, we can grow safely and securely."

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