Accounting firm of the yearNonprofit Bookkeeping Services for US Organizations: Audit-Ready and Board-Ready
Why Choose Orbit for Nonprofit Organizations?
Orbit Accountants provides fixed-fee nonprofit bookkeeping and outsourced nonprofit accounting services for US 501(c)(3) organizations, foundations and NGOs. Books run on QuickBooks Online or Xero on a nonprofit chart of accounts aligned to FASB ASC 958 and the Form 990. Every month you receive a Statement of Activities, Statement of Financial Position, Statement of Functional Expenses, net asset roll-forwards and grant budget-to-actual reports. At year end your Form 990 workpapers and audit or Single Audit PBC package are already built. Fees are fixed and agreed before work starts, from US$595 per month.
Why Nonprofits Choose Orbit for Bookkeeping and Accounting
As a nonprofit organization, your focus should be on fulfilling your mission, not managing finances. At Orbit Accountants, we offer specialized bookkeeping for nonprofit organizations tailored to 501(c)(3)s, NGOs, and foundations. From tracking contributions and expenses to keeping the records that support your exempt status, we handle the financial detail, so you can concentrate on making an impact.
Donor-restricted vs. unrestricted net assets
Multiple grants and programs
Annual audits and Single Audits
Board- and funder-ready reports
Your books have to do more than “balance” - they need to prove stewardship and inform decisions every month. That’s why we build audit-ready books on a nonprofit chart of accounts aligned to FASB ASC 958 and the Form 990.
Key Definitions
The core U.S. nonprofit accounting concepts we build into your books from day one.
Fund Accounting
A structure that tracks activity by fund, grant, and program so donor restrictions and funder reporting obligations are always met.
Net Assets With & Without Donor Restrictions
The FASB ASC 958 classes that replaced “temporarily/permanently restricted.” We track releases from restriction as conditions and time requirements are satisfied.
Statement of Functional Expenses
Costs allocated across program, management and general, and fundraising. GAAP (ASU 2016-14) requires every nonprofit to report expenses by nature and function, and the full Form 990 requires the same matrix in Part IX.
Audit PBC Package
“Prepared-by-Client” files - reconciliations, roll-forwards, schedules, and supporting docs your auditors request for the annual or Single Audit.
How It Works
Discover & clean-up
chart of accounts, classes/programs, fund and net-asset mapping.
Systems & mapping
QuickBooks Online (QBO) or Xero with Dext/Hubdoc; connect donation, CRM, and e-comm tools.
Monthly close & KPIs
reconciliations, net-asset roll-forwards, program/fund reports, cash KPIs.
Audit, 990 & board support
tidy PBC packages, Form 990 workpapers, board deck support, grant reports.
Orbit Portal
secure uploads, reply to requests, preview documents from one place.
Ready to get audit-ready?
Meet our Founders
Malay Matalia
Co-founder
Orbit was born out of a simple idea: organizations should have access to timely, accurate books and clear, transparent pricing. As clients grow and expand globally, our job is to keep their finances grounded with smart systems and proactive support, every step of the way.
Orbit vs. the Alternatives
Vs. generalist bookkeepers
We implement nonprofit fund structures, donor-restriction tracking, grant reporting, and functional expense allocations by default - no year-end retrofit before the 990 or the audit.
Vs. in-house volunteers
We bring controls, continuity, and audit readiness so leadership isn’t rebuilding workflows each time a volunteer treasurer rotates off the board.
Vs. audit-first firms
We deliver management-grade monthly books and operational insight; audits and Single Audits proceed faster because the PBC package is always ready.
Vs. software-only tools
We are a service with the Orbit Portal behind it - request and approval flows, reconciliations, and human judgment behind the numbers.
| Need | Orbit Accountants | Others |
|---|---|---|
| Fund accounting and net asset tracking | Default from day one | Retrofit at year end |
| Monthly close | Under 20 days, date agreed upfront | Quarterly or year-end heavy |
| Board and funder reporting | Monthly pack | Ad hoc |
| Form 990 workpapers | Built through the year | Assembled at filing |
| Audit / Single Audit PBC | Always ready | Scramble at fieldwork |
| Pricing | Fixed monthly fee | Hourly |
| Document workflow | Orbit Portal | Email and shared drives |
Bookkeeping for nonprofits
Learn more about how our specialized bookkeeping can transform your organization’s efficiency.
Form 990 deadlines, Single Audit thresholds and donor-restriction tracking, explained for treasurers. Accurate bookkeeping is what keeps donations traceable, expenses allocated across program and support functions, and your tax-exempt status protected.
Outsourced Nonprofit Accounting Services: Fund Tracking, Insights and Compliance under one roof
A connected service built for nonprofits, real support, fund-level clarity, and a year-end that stays audit-ready.
CFO add-ons when you are ready
Budget build-out, KPI dashboards, board-deck prep, and cash-flow forecasting.
Delivered by the same team behind our fractional CFO service, on the books they already close each month.
What you get each month
The same pack every month, on a date you can plan around, built so your Form 990 and your audit are already supported when they fall due.
Financial statements
- Statement of Activities
- Statement of Financial Position
- Statement of Functional Expenses
- Cash position summary
Fund & grant reporting
- Net asset roll-forwards
- Releases from donor restriction
- Grant budget against actual
- Program, management and fundraising allocation
Compliance & controls
- Bank and credit card reconciliations
- Exception list with open questions
- Manager review on every close
- The filings due that month
Packages & Pricing
Book a discovery call. We'll map your systems, agree a fixed fee, clean up what's needed, and deliver reliable monthly reporting from US$595 per month.
Ready to switch your bookkeeping?
Transparent Plans, No Surprises
Join Organizations Across the US Who Trust Orbit
Custom Solutions For Your Organization
Book a discovery call. We'll map your systems, agree a fixed fee, and set your close date before we start.
Frequently Asked Questions
Under GAAP (FASB ASC 958), a nonprofit must classify net assets as with or without donor restrictions and report expenses by function. Fund accounting is the bookkeeping structure that delivers this: it tracks activity by fund, grant and program so restrictions and funder reports are always supported. Accrual books are expected once you have paid staff, grants, or an audit.
It depends on gross receipts and total assets. Form 990-N (e-Postcard): gross receipts normally $50,000 or less. Form 990-EZ: gross receipts under $200,000 and total assets under $500,000. Full Form 990: above either limit. Private foundations file Form 990-PF regardless of size, and any organization with $1,000 or more of gross unrelated business income also files Form 990-T. See our tax and compliance services.
The 15th day of the 5th month after your fiscal year ends, so May 15 for a December 31 year end. Form 8868 gives an automatic six-month extension, except for the 990-N, which cannot be extended. Three consecutive missed filings revoke tax-exempt status automatically, and a missed 990-N counts even though it carries no late penalty.
At $1,000,000 or more in federal awards expended in a fiscal year beginning on or after October 1, 2024, under 2 CFR 200.501. It counts money spent, not awarded, and awards issued before that date still carry the previous $750,000 threshold, so an organization holding multi-year grants can meet both tests at once. We track expenditure by award and prepare the Schedule of Expenditures of Federal Awards (SEFA) your auditor needs.
We structure the chart of accounts and classes so restricted support is recorded separately at the point of gift, then released into net assets without donor restrictions as purpose or time conditions are met, with a monthly roll-forward you can hand straight to your auditor.
Under 20 days for most clients, and we tell you your close date before onboarding. If a month will be late because we are waiting on something from you, you hear it from us first.
Through the Orbit Portal. Requests, uploads, approvals and status sit in one place, so nothing is buried in an email thread and a new board treasurer can see what is outstanding on day one.
Under FASB ASC 958 an accrual-basis nonprofit presents a Statement of Financial Position, a Statement of Activities, a Statement of Cash Flows, and an analysis of expenses by nature and function (usually a Statement of Functional Expenses). We deliver the first two plus the functional expense statement and a cash position summary monthly, and the full GAAP set at year end and for the audit.
Nonprofits carry reporting duties for-profit businesses do not: donor restrictions, grant terms, functional expense allocation, Form 990 disclosure and, above $1,000,000 in federal spending, a Single Audit. A generalist bookkeeper usually retrofits all of this at year end; specialized bookkeeping builds it into the monthly close so nothing is rebuilt before the 990 or the audit.
A Statement of Activities, Statement of Financial Position, Statement of Functional Expenses, cash position summary, bank and credit card reconciliations, net asset roll-forwards with releases from restriction, grant budget-to-actual, and an exception list of open questions, all reviewed by a manager before release.
We prepare the workpapers behind your annual Form 990, manage payroll and 1099 reporting, track the financial data behind state charitable registrations, and keep the records that support your tax-exempt status. Filing itself is handled by our tax team or coordinated with your counsel or filing agent. See our payroll management service.
We track the financial data behind state charitable solicitation registrations and annual state filings, and coordinate with your counsel or filing agent so multi-state fundraising stays compliant.
We track grant funds by award, monitor budget against actual, record releases from donor restriction, and prepare the compliance reports funders require, so you stay in good standing with grantors and know how much of each award remains.
Fixed monthly fees from US$595, agreed before work starts and based on transaction volume, number of funds and grants, and whether you need audit or Single Audit support. No hourly billing and no surprises at year end. See published pricing.
Experience with nonprofit clients, working knowledge of FASB ASC 958 and the Form 990, a monthly close you can plan a board meeting around, and an audit PBC package that is ready before fieldwork starts. Ask any firm how many nonprofit audits it supported last year.
Yes. We start with catch-up and cleanup, including rebuilding fund and net asset tracking, then move you into a structured monthly reporting cycle. See our catch-up bookkeeping service.
Everything your nonprofit finance function needs, under one trusted partner
From clean books to strategic CFO guidance, Orbit Accountants delivers the full back-office stack for US nonprofits and growing organizations. Fixed monthly pricing, on-time month-end, and a dedicated team that actually knows your mission.
Fund Accounting & Reconciliations
Monthly books kept on a nonprofit chart of accounts aligned to FASB ASC 958, so net assets with and without donor restrictions are separated as the gifts arrive - not reconstructed at year end.
"Orbit came on board with Fortitude Construction as our fractional CFO. Since then, they have truly helped us organize our bookkeeping and accounting workflows."
Map your monthly close and board package in 20 minutes
Get Back on Track: Fast and Hassle-Free
The information on this page is provided for general educational purposes only and does not constitute legal, tax, or accounting advice. Every business and nonprofit is different, and federal and state rules, thresholds, and deadlines change over time and vary by state. Please consult a qualified professional who has reviewed your specific situation before acting on anything here. Orbit Accountants is not responsible for decisions made based on this general information.