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 We will prepare the necessary application for a flat fee per chapter if multiple chapters have been revoked.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: Kandy Wischmeier, CPA, Tax Manager at Blue & Co. If your not-for-profit organization is located in Indiana and has had a significant change in the use of property, has moved in the last year, or is a new entity, you may be required to file Form 136, Application for Property Tax Exemption. Entities are […]
By: Rick Shields, Principal, CPA, CFE Effective January 1, 2023, Kentucky implemented numerous changes to its sales tax laws. Historically, not-for-profits have been able to take advantage of numerous Kentucky sales tax exemptions. In practice, that has allowed not-for-profits to operate as though sales tax does not apply to their operations. Kentucky has been expanding […]
By: Ryan Adams, Manager, CPA The process of creating not-for-profit (NFP) budgets can be overwhelming. One can argue that the NFP’s budget can be even more challenging to prepare than a budget for a business enterprise. The NFP may provide goods and services in addition to receiving donations with or without restrictions or conditions, government […]
By: Holly Fields, CPA, Senior Manager Not-for-profit organizations (NFPs) that receive federal financial assistance over certain levels, either directly from a federal agency or indirectly through state or local agencies, may be required to have a single audit performed under Federal Uniform Guidance. Single Audit Requirements A single audit includes not only an audit of […]
By: Andrew Brock, CPA, Senior Manager Diversification through crypto assets, including cryptocurrency or other digital assets, in an organization’s investment portfolio, has become a more prevalent conversation, especially over the past couple of years, in light of some of the performance in these types of investments. It is a conversation that has organizations wondering if […]
By: Rick Shields, CPA, CFE, Principal Few people outside the nonprofit accounting world have an appreciation for its complexities, and how they apply regardless of the amount. A person may say, “The organization has total revenues of $3 million, how difficult could it be?” Those who work in the field on a daily basis are […]
By: Annmarie Novotney, CPA, Director Earlier this year, several members of our Blue & Co. Not-for-Profit Services Team attended the 2022 AICPA Not-For-Profit Industry Conference. The annual conference covers key accounting, auditing, and tax issues as well as emerging updates related to the not-for-profit industry. This conference is extremely helpful to both industry professionals and […]
By: Bob Findley, CPA, Director and Sam Bass, CPA, Staff Accountant In September 2021, Ohio enacted section 5747.73 of the Ohio Revised Code, which allows a tax credit for individuals and businesses who make a qualified donation to a Scholarship Granting Organization (SGO) certified by the Ohio Attorney General. How does this impact your nonprofit […]
By: Doug Hasler. CPA. Director An Indiana Scholarship Granting Organization (SGO) is an organization that awards school scholarships to eligible students. Qualified SGOs receive funding for school scholarships from private, charitable donations. Those who have donated to an SGO that has been certified by the Indiana Department of Education (IDOE) will then be eligible to […]
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