“Our DMG Professional Services staff can structure your financials to better help your church or ministry build, expand, purchase a facility.”
DMG Professional Services has helped secure over $35 Million in church funding in the first quarter of 2015 alone.
Whether your ministry is a church, mission-sending organization, school, college or para-church organization, we consider ourselves a part of your project team, dedicated to serving you so we can all reach the same goal.
DMG Professional Servicess knows that no two loans are alike. That’s why we take time to listen to your vision, mission and objective before exploring possible options that will best help meet your ministry’s needs.
Description of DMG Professional Services Prepared Financial Statements
An annual audit is the highest level of financial assurance that DMG Professional Services can provide your ministry. The procedures utilized by our staff CPA include; substantive sampling of financial transactions to ensure accuracy, an in depth analysis of your organizations’ internal controls to determine whether or not the current organizational procedures will identify any financial inconsistencies. Lastly; our CPA staff will obtain confirmation from outside third parties as to relevant financial matters involving your ministry. Specific inquiries include communication with your current lender (s), banking institution, ministry attorney and any other necessary outside third parties.
An annual audit provides your ministry and any others who would be interested in the financial condition of your ministry with the highest level of confidence as to the accuracy of the financial statements presented for your ministry. Typically medium to large ministries would be required to have annually audited financial statements due to loan covenants or other internal ministry leadership directives and is considered a “best practice” for churches and Christian ministries.
Reviewed financial statements are the second of level of financial statement attestation that a Certified Public Accountant (CPA) can provide your ministry. The procedures utilized by your Church CPA include inquiry of management and financial personnel of your ministry and analytical procedures.
DMG Professional Services CPA staff will make inquiries concerning such financial statement-related matters as accounting principles and practices, record keeping practices, accounting policies, actions of the board of directors, and changes in business activities. Then our CPA staff will apply analytical procedures designed to identify unusual items or trends in the financial statements that may need explanation. Essentially, a review is designed to see whether the financial statements “make sense” without applying audit-type tests.
Typically small to medium ministries would be required to have annually audited financial statements due to loan covenants or other internal ministry leadership directives. Unlike an annual audit; a review can be performed on an interim period of time – meaning a partial year.
Compiled financial statements are the third and lowest level of financial statement attestation that DMG Professional Services CPA staff can provide your ministry. The financial data that is used by our CPA staff to prepare compiled financial statements is provided by your ministry – compared to outside third party data provided in an annual audit.
DMG Professional Services CPA staff will need to be familiar with your ministry and church accounting in order to properly prepare compiled financial statements.
Compiled financial statements should be a component of every size of ministry; however typically small ministries have this level of attestation performed. This is the absolute lowest level of CPA prepared financial statements that a church or Christian ministry can have prepared.
If you are having issues and need help guiding your company to success Contact DMG Professional Services today to set up a free consultation!