Accounting Services for Charities, Associations and Not-for-Profits in Toronto

It’s great to meet you! If you are a charity, association or not-for-profit and you are looking for internal accounting and bookkeeping services in Toronto (or anywhere in Canada), you have come to the right place.

We are a team of trusted accountants and advisors who support more than 50 successful nonprofit organizations and charities in the Greater Toronto Area. In fact, nonprofit organizations are a strategic focus of our firm.

Who We Work With

We service nonprofits with revenues nearing 1 million and up. We focus where we can add the most value: that’s internal accounting and CFO services to optimize financial health. Our clients get a senior level of expertise without having to hire a full-time CPA.

We are not taking on new audit clients at this time. We do not provide short-term consulting or “one-off” tax service.

If it sounds like we’re a fit, drop us a line!

Key Services We Provide Nonprofits and Charities

• Internal accounting services
• Bookkeeping and payroll services
• Virtual CFO services
• Audit support
• Financial statements
• Proactive advice on new issues that may affect your nonprofit organization, including changes in accounting standards, tax legislation, regulations and policies
• T3010 Registered Charity Information Return
• T1044 Non-Profit Organization (NPO) Information Return
• Tax advice & planning
• Canada Revenue Agency (CRA) correspondence
• Interpretation of financial information
• Projections and forecasts for planning purposes
• Internal process and control evaluations to help prevent errors, fraud & theft
• Identification of potential issues for a “no surprise” audit
• PSB (Public Service Rebate) forms (Yes! We help our clients get large refunds by successfully claiming the PSB Rebate.)
• Answers to questions of the board and management
• Reporting to stakeholders

Meet our Practice Leader – NPO Specialist and Partner: Laura Gay

Our nonprofit team is led by Laura Gay, CPA, CA, LPA. Laura is a trusted advisor who ensures no stone is unturned when working with her clients.

Laura works exclusively with not-for-profit organizations and is a recognized specialist in the industry who frequently presents at conferences on topics of importance to not-for-profit associations.

In addition to her work with Stern Cohen, in 2017 Laura was appointed to the Board of Directors of ALS Canada – a national healthcare charity. In 2018, she now serves as Chair, Finance and Audit Committee. This experience working on the inside of an NPO adds to her qualifications. You can read more about Laura on her bio here.

“I made the decision to focus exclusively on nonprofit organizations because I felt my efforts there could make a real difference to NPO’s and the important causes they support.

Specializing in the nonprofit industry has enabled me to become something of an industry expert. And as a result, my clients benefit from the guidance I provide them. Making a difference to a cause I support is immensely rewarding.”

Laura Gay, Partner and Not-for-Profit Practice Leader

Culture is Important to Us, Too

At Stern Cohen, we have a modern culture that strongly values gender equality, diversity, equity, inclusion, community involvement and open communication.

Our Guarantees

If your nonprofit, charity, or association chooses Stern Cohen, you can expect the following care and support:

• We are committed to working proactively with you to ensure your future success. This includes:
  •  identifying issues or opportunities that might impact your organization’s financial position
  • being part of your budget process
  • providing regular check-ins and oversight
  • making recommendations for internal controls
  • ensuring your public financial statements send the optimal message to your donors
  • improving the monthly reporting package that you send to your board members and more!
• You will have a direct line to our specialists! We will serve as a resource and be available for consultation on accounting issues throughout the year (not just at audit time).
• We will attend meetings to discuss our work and/or reports to improve your Management and Board of Directors’ understanding of financial matters.
• We are very familiar with industry leading software technologies like QuickBooks Online and other leading third party apps. The goal is to help save our clients time, to improve their processes, and to minimize human error. We are happy to share our best practices with you!

PS: Check out Some Great NPO Resources on Our Website…

• Our top “insider” recommendations on how to pick the best auditor for your NPO or Charity can be found here.
• Check out our latest “Hot Topic” Industry Article: Yes, you can learn “Everything Charities & NFP’s Need to Know About GST/HST” by clicking here.
• Finally, are you interested in having one of our dynamic industry specialists speak at your conference or event? Our experts can present on a range of topics to suit your audience.  Read more here.