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Fraternal Industry

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
    and financing
  • Tax compliance
  • Set aside consulting
  • Grant and cost-sharing agreements
  • Policy and procedure review
  • Financial reporting consulting
  • Updates on industry developments and
    emerging issues

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 We will prepare the necessary application for a flat fee per chapter if multiple chapters have been revoked.

Annual Compliance

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.

Bookkeeping

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.

Planned Gifts

Planned Gifts: A Plan for All

By Mike Gricius, CPA, Senior Manager at Blue & Co. Planned gifts are a tool that can help not-for-profits plan ahead and secure the future for the years to come. […]

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donor advised funds

IRS Proposed Regulations: Impact on Donor Advised Funds

By Corey Schunemann, CPA, Manager at Blue & Co. The IRS issued proposed regulations that could dramatically affect the landscape and operations of Donor Advised Funds (“DAF”). While many organizations […]

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How not-for-profits can make use of artificial intelligence

Empowering Change: How Not-For-Profits Can Make Use of Artificial Intelligence

By Chad Nieter, Senior Manager at Blue & Co. Artificial intelligence (AI) is technology that enables computers and digital devices to learn, read, write, talk, see, create, play, analyze, make […]

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Navigating Indiana's NP-20R Reporting

Crucial Compliance: Navigating Indiana’s NP-20R Reporting and Form 136

By Angela Crawford, CPA, Director at Blue & Co. There are two key items Indiana not-for-profits need to know in first quarter 2024 – no matter your organization’s fiscal year […]

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Indirect costs for grants

Indirect Costs for Grants – Should You Want a Higher Rate?

By Rick Shields, CPA, Principal at Blue & Co. When not-for-profits receive grants from governments and foundations, the application process often includes an estimate for indirect costs which is then […]

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not-for-profit staffing shortage

Not-For-Profits Hit Hard By Staffing Shortages

By Bob Findley, CPA, Director at Blue & Co. The job market is hard for everyone, especially for not-for-profits. The U.S. unemployment rate dropped from 6.9 percent in October 2020 to 3.9 percent in […]

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not-for-profit cecl model

Decoding The New CECL Model for Not-For-Profits

By Priya Singleton, CPA, Director at Blue & Co. The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of […]

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restricted fund tracking

Restricted Fund Tracking and Cash Management

By Andrew Brock, CPA, Senior Manager at Blue & Co. Earlier in June 2023, an article was published by our not-for-profit services team titled “Unveiling the Dynamics of Donor-Restricted Contributions”. […]

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campaign solicitation guidelines

Fundraising Campaign Solicitation Guidelines to Maximize Organizational Flexibility

By Doug Hasler, CPA, Director at Blue & Co. Many organizations postponed or extended timelines for fundraising campaigns during the pandemic. Campaigns for capital expansion or renovations will need to […]

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Form 990

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

  • 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.

    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

    Horizon League

  • “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

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