Non-Profit Organizations (NPOs) and Philanthropy

 

Organizations in what is termed the “third sector” are independent, non-profit entities, based wholly or partly on voluntary activity. They are nonetheless subject to regulations and internal and external supervision as required by law, just as are for-profit corporations.

In recent years, nonprofits and philanthropic associations have played a significant role in local and international economic activity. Associations, non-profit institutions, endowments, public benefit companies (PBCs) and public institutions with charitable foundations and other social funds require special attention and a professional approach to the economic, accounting and taxation aspects of their activities.

Recent years have witnessed the development of new “fourth sector” organizations, which combine business approaches with social and environmental aims. This sector is characterized by using its business activity to advance environmental, social and economic concerns. Most of these organizations are currently registered as companies and not associations, although, fundamentally, their activities, beyond providing profits for the companies, contribute social benefits to the community. It is expected that regulatory agencies will recognize the uniqueness of this sector and grant it tax relief and other benefits.

Charitable foundations and social funds are the fast growing emerging sector worldwide. Because governments all over the world encourage the establishment of philanthropic activities, international and humanitarian organizations must cope with unique economic and business issues and dilemmas. Issues arising from fundraising, transferring social investments between countries, optimal tax savings, tax reporting to tax authorities abroad, receiving tax benefits and tax exemptions for donations, incentives and benefits must be identified and handled according to the relevant law.

Our professional team provides following services for NPO sector:

Taxation Services

Accounting Services

Bookkeeping Services

Auditing Services

Preparing for In-depth Reviews by the Associations Registrar

Business Consulting / Management