Tax Planning & Compliance
Nonprofit Challenges in Navigating Tax Issues
Nonprofit organizations are often thought to be tax exempt. But this is a misnomer, as there are many situations where a nonprofit may have to…
Audit, Tax & Consulting for Private Schools
We understand the unique accounting and operational aspects of independent schools, including seasonal cash flow, financial aid, student loans, and facilities management.
Private School Advisory
Audit, Tax & Consulting for Private Schools
Independent schools face many challenges in maintaining financial stability, and school leaders and board members must develop strategies and focus to deal with these issues effectively.
AAFCPAs’ independent school clients keep their core educational mission at the forefront, with a focus on serving students in the best way possible. However, we understand the limitations on tuition and the need to establish other revenue generating programs. Many of our clients have instituted successful non-tuition revenue streams, such as: real estate holdings, facility rentals, overseas sister schools, expanded summer programs, adult education, tutorial centers, teacher institutes, and online curriculum.
Our extensive experience within the education industry makes us uniquely qualified to serve you. We understand the unique accounting and operational aspects of independent schools, including seasonal cash flow, financial aid, student loans, facilities management, and more.
Proactive Guidance to Independent Schools
In addition to assurance and tax, AAFCPAs provides proactive guidance on areas critical to the success of our independent school clients, including:
Revenue Recognition Support
Assistance with properly recognizing tuition, fees, and contributions in accordance with applicable accounting standards.
Functional Expense Allocation
Guidance on allocating costs between programs and supporting services to ensure accurate and compliant reporting.
Endowment Management
Advisory on income allocation and accounting for endowments, including oversight of alternative investment vehicles.
Operational Efficiency
Recommendations for reducing overhead and optimizing your school’s operating cost structure.
Facility Financing Advisory
Support with real estate acquisition, debt structuring, and long-term capital planning.
Non-Tuition Revenue Strategies
Insights into ancillary revenue opportunities—such as camps, extended-day programs, and facility rentals—while advising on cost allocation to minimize tax exposure.
Board and Trustee Education
Training and consultation to help leadership understand and fulfill their financial oversight responsibilities.
Internal Control Optimization
Recommendations for internal controls, particularly in auxiliary programs such as after-school and summer offerings.
Capital Campaign Advisory
Review of fundraising collateral to ensure alignment between your messaging, donor intent, and accounting treatment.
Education Accounting & Advisory
What Our Clients Say
AAFCPAs Testimonials.
I highly recommend AAFCPAs for anyone looking for an attractive alternative to national CPA firms. It’s so nice to have that partnership and team by our side. Before we switched to AAFCPAs, we worked with a national firm. When it came time to conduct another rotation, though AAFCPAs came highly recommended by so many, we treated them as we would any other auditing firm. At the end of the search, we went with AAFCPAs. The national firm we left was adequate. But there is just a certain white glove touch with AAFCPAs that is preferable.
Our Advisors
TRENDING NOW
Related Insights.
Stay up-to-date on trending topics, fresh perspectives, in-depth analysis, and regulatory alerts that affect your business.
Technology & Process
Client Success Story: Better Decisions in Less Time, with Better Visualization!
The Need for Better Financial Insights Financial leaders rely on real-time visibility into key performance indicators (KPIs) to drive decisions. When your systems have limitations…
Independent Schools
Guidance on Lease Standard for Independent Schools
What Lessees Need To Know In February 2016, FASB issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) to increase transparency and comparability of lease…
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Every situation is unique. We look forward to speaking with you to determine how we may best solve your needs.
