Making it easier to make a difference.
For most nonprofits, the year moves in seasons.
There’s the energy of launching programs, the momentum of fundraising campaigns, and the
steady rhythm of board meetings and community work. And then, usually sometime in the
spring, another season begins: the season of Form 990 preparation and financial audits.
These annual filings are some of the most important financial transparency requirements for
nonprofit organizations. Donors, foundations, board members, and regulators all rely on them to
understand how your organization operates and how resources are used to advance your mission.
But while these filings are essential, the process behind them can be complex. Multiple teams are
involved, timelines stretch across several months, and accuracy matters at every step.
That’s where Bearing Tree comes in.
Our Role: Coordinating the Process
Bearing Tree partners with external CPA firms to support the preparation and filing of your
annual Federal Form 990 and, when applicable, your financial audit or financial review.
Our role is to keep your financial information organized, accurate, and ready when your auditors
need it, while helping coordinate communication across your team and the CPA firm.
This includes:
Organizing financial records and documentation
Providing financial information requested by auditors
Coordinating timelines and communication between teams
Monitoring key deadlines and deliverables
Supporting the review process as drafts are prepared
For nonprofit leaders who already have full plates, this coordination is often what makes the process manageable.
Working with CPA Firms
Bearing Tree has established processes and communication workflows with several preferred CPA firms that specialize in nonprofit audits and Form 990 filings.
Many partners choose to work with these firms because the coordination tends to be smoother, and timelines are easier to manage.
Organizations are also welcome to work with another CPA firm if they prefer. In those cases, Bearing Tree still provides financial information and accounting support as requested by the auditors, though additional coordination may be required.
What the Timeline Typically Looks Like
The 990 and audit process generally follows a predictable annual rhythm.
Preparation typically begins early in the year, with formal coordination between the organization, Bearing Tree, and the CPA firm beginning in the spring.
Most organizations file a six-month extension for their Form 990, which allows the necessary time for preparation, draft review, and approvals.
Over the following months, the process usually includes:
Initial financial preparation and documentation gathering
Draft financial statements and Form 990 preparation
Review and feedback from leadership and board members
Final approvals and filing
Because multiple parties are involved, timely responses and approvals are key to keeping the process moving smoothly.
The Role of Your Organization
While Bearing Tree and your CPA firm manage much of the technical work, nonprofit leadership still plays an important role in reviewing and validating information that appears in the final filings.
Organizations are responsible for confirming key details such as:
Executive compensation
Highest paid contractors
Grants to other organizations
Major donor information
Restricted funds and functional expense allocations
Related organization relationships and other disclosures
Your team is also responsible for reviewing draft documents and providing final approval before the filings are submitted.
A Simple Way to Keep the Process Smooth
One of the most effective ways to keep the process running efficiently is to designate a single internal point of contact for the audit and 990 process.
This person serves as the central coordinator between your organization, Bearing Tree, and your CPA firm, helping gather information, manage reviews, and ensure approvals happen on time.
For organizations with audit committees, board members may also participate in reviewing financial statements before final approval.
What This Means for You
If you’re a current Bearing Tree partner, the most helpful step you can take during 990 and audit season is simple: stay engaged as requests come in. Timely responses to information requests, draft reviews, and approvals help keep the process moving smoothly and ensure filing deadlines are met.
If you’re considering Bearing Tree as a partner, this is one of the many ways we help simplify the operational side of running a nonprofit. By coordinating closely with your CPA firm and organizing the financial information needed for these filings, we help make sure your organization’s annual reporting is accurate, timely, and well supported.
Because when the financial and compliance work behind the scenes is handled well, nonprofit leaders can spend more time focusing on what matters most - advancing their mission.
And that’s what we mean by making it easier to make a difference.