Sigma Delta Tau is grateful for the partnership with Blue and Co. for our auditing needs. The team is outstanding to work with and they each take the time to understand and support our organization. We have been impressed with the level of knowledge about our specific industry as well as nonprofit association accounting. As a result of this, we feel we have been able to improve many aspects of our operations.
At Blue & Co., we are committed to taking care of your organization holistically. This is why more than 50 fraternal organizations trust Blue & Co. to serve their organization in a variety of ways. We understand the important work your organization does, and we take pride in our abilities to provide specialized expertise in the realm of accounting, assurance, tax and consulting as it relates to the fraternal industry.
Additionally, Blue & Co. is a proud sponsor of the North-American Interfraternity Conference, National Panhellenic Conference and Fraternity Executives Association annually.
Check Out Our Resources Below!
National Financial Services
At the national level, we work with all entities: fraternities or sororities, housing corporations, and foundations to bring you a cohesive financial package. Some of our most popular services include:
- Audits, reviews and compilations
- Implementation of new accounting standards
- Financial trends and benchmarking
- Consulting related to housing investments
- Tax compliance
- Set aside consulting
- Grant and cost-sharing agreements
- Policy and procedure review
- Financial reporting consulting
- Updates on industry developments and
Chapter Compliance and Consulting
We also realize that your alumni and chapters, while not directly controlled by national headquarters, are still integral to your organization. We have a wide depth of experience with chapter compliance and are happy to offer the following chapter services:
Chapter Revocation Assistance
Chapter revocations are a headache for many fraternal organizations. Blue can work with your chapters to reinstate their exempt status with the IRS. We will prepare the necessary application for a flat fee per chapter if multiple chapters have been revoked.
We believe outsourcing annual compliance returns, Forms 990-N, 990EZ, and 990, to a reputable firm is crucial to maintaining the tax health of your chapters. As a client of our firm, we will track each chapter’s return from start to finish, filing any necessary extensions and following up with individuals as needed to complete a timely return. We are able to offer discounted fees when preparing multiple chapter returns.
If your chapters do not have centralized bookkeeping, we also offer bookkeeping assistance. We work with OmegaFi and Billhighway, as well as more traditional accounting packages like QuickBooks.
By: Tom Skoog, Cybersecurity & Data Management Practice Leader Over the years, we have highlighted several steps businesses and nonprofits can take to reduce the risk of a cyberattack. Most of these initiatives previously discussed are designed to prevent or significantly reduce the chance that your organization becomes a victim of a cyberattack. However, no […]
By: Holly Fields, CPA, Senior Manager In 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 – Leases (Topic ASC 842). For non-public not-for-profit entities, this ASU is effective for fiscal years beginning after December 15, 2021 (i.e., calendar year 2022 for entities with a December 31 year-end). Whether your not-for-profit […]
By: Ryan Adams, CPA, Manager Before nonprofit organizations were required to implement Accounting Standards Update No. 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, uncovering the amount of assets that were both liquid and available from an organization’s financial statements was often an insurmountable task. While it was true that one could ascertain the amount […]
By: Jason Terwilliger, CPA, CIA, Manager Communication is a cornerstone of any effective team of individuals working together to achieve common goals. This is especially true for the accounting and development departments in nonprofit organizations. When it comes to accurately reporting on an organization’s financial position, both accounting and development have important roles. Development staff […]
The Employee Retention Credit (ERC) is a refundable payroll tax credit your not-for-profit (NFP) organization may be eligible to claim. The ERC was originally enacted with the CARES Act in March of 2020 and was extended and expanded with the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which passed in December 2020. An […]
Part VII of the Form 990 is one of the more closely examined and highly scrutinized sections of an exempt organization’s tax return, both from the public and potential donors as well as other organizations and businesses. This is mainly because this section reports compensation for the listed individuals. For this reason, it is important […]
Establishing an endowment fund is a big step forward for an organization. It demonstrates that the organization is serious about helping the community through its charitable work well into the future and is taking the necessary steps to ensure that future. An organization with an endowment fund is a beacon to potential donors that want […]
Overview The Employee Retention Credit (ERC) is a refundable payroll tax credit your not-for-profit (NFP) organization may be eligible to claim. The ERC was originally enacted with the CARES Act in March 2020 and was extended and expanded with the Taxpayer Certainty and Disaster Tax Relief Act of 2020, which was passed in December 2020. […]
According to a study by the University of Maryland, cyber-attacks happen on average every 39 seconds. Blue & Co. hosted a webinar on Tuesday, July 13 from 12:00 p.m. to 1:00 p.m. EST entitled Cybersecurity & Data Management Best Practices for Nonprofit Organizations. Andrew Brock, CPA, sat down with two of Blue & Co.’s cybersecurity and […]
The Form 990 tells your organization’s story. Reporting requirements found on the Form 990, provide your organization with an opportunity to educate key stakeholders such as the community, potential donors, grantors, and board members. Clearly and earnestly explaining the mission and program accomplishments through reporting on the Form 990 communicates the organization’s value to these and other stakeholders.
What Our Clients Are Saying
- Melissa Kish, Executive Director
Sigma Delta Tau Society
“We have had very positive experiences with Blue & Company as our audit team. I use the word “team” intentionally, they feel like an extension of our staff. They are responsive, proactive and have ensured that our audit process is smooth and successful. They always take time to walk our staff and volunteer leadership through any questions that arise so that we can better support our mission work. I highly recommend working with Blue & Co.”Ashley Krieg Byrd, Executive Director
Alpha Omicron Pi Foundation
“Blue has provided our audit and tax services for over 15 years! During all this time, they have continued to offer a phenomenal level of customer service. Blue has conducted a thorough audit that culminates in a well-organized presentation to our Board, recently adding comparable metrics in the presentation to the Board. Blue has suggested meaningful steps to tighten internal controls while not overloading our small staff with unnecessary levels of work. Blue keeps us informed of upcoming changes to accounting standards well before we need to implement the standards, allowing us time to plan.
Blue’s staff is always available to provide advice on items unique to our situation.
Finally, we believe that Blue’s services are a good value. As due diligence, we have reached out to other audit firms for proposals over the years. We continue to remain with Blue! This is due to the tremendous quality and value of their services.”Beth Opell, Director of Finance
“Blue & Co. is our trusted partner for audit and tax services. Over the years, the professionals at Blue have become an integral part of our donor stewardship team. By working with us to ensure the integrity of our financial statements, they help us safeguard our donors’ generous investments and empower our board of directors to fulfill its fiduciary responsibilities. We highly recommend Blue & Co. to any not-for-profit organization.”Roberta Knickerbocker Jaggers, President
The Indianapolis Public Library Foundation
“We previously used an accounting firm who didn’t understand our business or how to accomplish what we needed. I spent most of my time managing and figuring out the accounting of the business, leaving only a small amount of time for operations and growth. I realized I needed a partner capable of handling our accounting needs and came to Blue and Co. Since taking over our accounting review and filling needs, I am now able to focus on expanding the profits of our business because I can spend more than 90% of my time on business growth. They quickly learned all about what we do and why and became more than an accounting partner with the many talented personnel they have in so many facets of business. They provide accurate results in their accounting review, spot-on consulting new and old ideas. They provide the most educational webinars and information on day-to-day accounting needs and changes. They process filings in a timely manner, proactively address any issues, and thoroughly understand our business and how to help it grow.”Pascal Fettig, President & CEO
Mental Health America of Boone County
“Blue & Co has been our audit firm for a number of years. Their team is professional, knowledgeable, and responsive. We have relatively complicated needs – and the Blue team takes this all in stride!”Julie Goldsberry, Senior Financial Controller
Alpha Chi Omega Fraternity, Foundation and National Housing Corporation
“The team at Blue & Co. has exceeded every expectation. It is rare that firms treat you like their only client and the fact that Blue & Co. does is why we believe our partnership will last. As a new non-profit in town, moving for the first time in our 130 year history, lots of change was happening in our world. It is a breath of fresh air to have a group of talented professionals always available for the many things that arise when running a business. If you are not a client, you should be – you won’t regret it.”Jerod Breit, Executive Director and CEO
Delta Chi Fraternity
“Blue and Co has provided audit services for the Indiana Corn Marketing Council for a number of years. Our client service team is knowledgeable, provides quality service, and always meets our tight reporting deadlines. We appreciate the value-added services and updates on accounting and industry developments provided to our management team and Board of Directors. They have done a good job presenting complicated financial information in a concise and interesting manner. We appreciate their role in helping us meet our fiduciary obligations.”Chantel Rammel, Chief Operating Officer
Indiana Corn Marketing Council