Schultz & Associates combines two areas of experience that are important to Habitat for Humanity affiliates: nonprofit auditing and construction accounting. Our nonprofit audit team has decades of experience with nonprofit financial reporting, grants, contributions and restricted funds. This experience, combined with our deep background in construction and real estate accounting, is what we CPA and Audit Services for Habitat for Humanity Affiliates
Schultz & Associates combines two areas of experience that are important to Habitat for Humanity affiliates: nonprofit auditing and construction accounting. Our nonprofit audit team has decades of experience with nonprofit financial reporting, grants, contributions and restricted funds. We also have a deep background in construction and real estate accounting. We believe that combination is important when choosing a CPA for Habitat for Humanity affiliates.
Nonprofit Auditing Meets Construction Accounting
Construction accounting does not change simply because the organization building the homes is a nonprofit.
Land acquisition, construction costs, materials, subcontractors and projects in progress all need to be properly accounted for. Our firm has extensive experience working with construction and real estate businesses. As a result, our team is comfortable with the accounting behind these activities.
Habitat for Humanity affiliates also face accounting issues unique to nonprofit organizations. Grants, contributions, donated materials and restricted funds must be properly reflected in the financial statements. Functional expense allocations and other nonprofit reporting requirements add another layer to the accounting.
For a Habitat affiliate, these two areas come together. Our audit team understands nonprofit financial reporting. Our broader accounting experience also gives us a strong understanding of the construction activity behind the numbers.
ReStore Adds a Retail Operation to the Mix
Many Habitat for Humanity affiliates also operate a ReStore. This adds another type of activity to an organization already combining nonprofit operations with construction and real estate.
Schultz & Associates has experience auditing retail operations. We understand the accounting and internal control issues surrounding inventory, sales, cash receipts and other retail activity.
A ReStore also receives donated goods. This creates another connection between retail operations and nonprofit contribution accounting. Our experience in both areas helps us understand how that activity fits into the affiliate’s overall financial statements.
Understanding the Entire Organization
A Habitat for Humanity affiliate can have several different activities operating within the same nonprofit organization.
In addition to constructing homes and operating a ReStore, an affiliate may own land for future development. It may also receive donated building materials, administer grants and conduct fundraising activities. Depending on the affiliate, there may be homeowner receivables and other real estate-related transactions.
These activities can affect the financial statements in different ways. Our goal during an audit is to understand how the entire organization operates. We do not look at each account in isolation.
Financial Statement Audits for Habitat for Humanity Affiliates
Schultz & Associates performs independent financial statement audits for nonprofit organizations. We work with management throughout the audit process. Our goal is to keep requests organized, answer questions and address accounting issues as they arise.
Our audit technology also allows us to work efficiently with organizations outside Michigan. A Habitat for Humanity affiliate does not need its audit firm to be located down the street. Documents can be exchanged securely, and much of the audit work can be completed remotely. Meetings can also be handled electronically when appropriate.
That allows our Michigan-based audit team to serve Habitat for Humanity affiliates in Michigan, Indiana, Ohio, Pennsylvania, Kentucky and Illinois.
A CPA Firm That Understands Both Sides
Finding a CPA for a Habitat for Humanity affiliate should involve more than finding a firm that audits nonprofit organizations. The construction, real estate and retail sides of the organization matter too.
Our nonprofit audit experience combines with our background in construction, real estate and retail accounting. That gives our team experience with the different activities that can come together within a Habitat affiliate.
If your Habitat for Humanity affiliate is considering a new CPA or audit firm, contact Schultz & Associates to discuss your organization and its audit requirements.
Meet Our Nonprofit Audit Team
Lew Boucher, CPA — Senior Auditor
Lew works extensively with nonprofit audit and assurance engagements and helps lead our firm’s nonprofit audit work.
Ben Miller — Staff Auditor
Ben works with our audit team on nonprofit financial statement engagements and assists clients throughout the audit process.
Jeffrey Schultz, CPA — Managing Partner
Jeff brings decades of accounting experience to the firm, including extensive work with construction, real estate and nonprofit organizations.