Alliance for the Shenandoah Valley (Alliance) is seeking proposals for preparation of its yearly audited financial statements and related filings for the 2024 fiscal year (Jan-Dec), with intent of extending a contract for a total of up to a five year period. Our organization may require a federal Single Audit. The audit of our financial statements must be performed in accordance with generally accepted accounting principles.
Background
Alliance for the Shenandoah Valley is a 501(c)3 non-profit organization based in New Market, Va, working to ensure the Valley’s rural character, scenic beauty, clean water and vibrant communities are protected by providing accurate and timely information to community members and decision makers. We believe that, together, we can preserve what is important to community members and grow in ways that are sensitive to the extraordinary natural and cultural resources that distinguish our region.
Purpose
The Alliance expects that 2024 expenditures of federal funds will exceed the $750,000 threshold, thereby requiring a Single Audit. Therefore, the Alliance is seeking accounting services for a Single Audit for fiscal year 2024. An RFP for Consultation in preparation for Single Audit is published concurrently with this RFP.
Additional Information
- FY 2023 revenue: $1,107,000 total (with a mix of approximately $600,000 from federal funding sources and approximately $500,000 non-federal funding sources).
- FY 2024 revenue projection: $1,799,125 total (while projecting a mix of approximately $1,100,000 from federal funding sources and approximately $700,000 from non-federal funding sources).
- Number of full-time employees: 9
- Bookkeeping: Our bookkeeping is managed through staff with QuickBooks Online.
- Previous Audit: The FY 2022 990 was prepared by Didawick & Company, P.C. and is available upon request. The FY 2023 Trial Balance is also available upon request.
- Financial Basis: The organization operates on an accrual basis.
- Fiscal Year: January – December
Project Scope
- Preparation of annual financial statements
- Preparation and filing of IRS Form 990
- Federal Single Audit
- Management letter
Additional Services
The awarded contract will be in effect for a period of one (1) years with an option to extend for four (4) additional years through fiscal year 2028 based on satisfactory performance, mutual consent and agreed upon pricing. The yearly contract extension shall be automatically renewed for one year unless either party gives written notice of thirty (30) days prior to the expiration thereof.
The Alliance may request ancillary or additional services within the capacity of the contractor as may be useful or necessary. Each successful bidder may be engaged in additional phases of work through this procurement action.
Proposed Timeline
Project scope should be completed to meet IRS filing deadline May 15, 2025 and annually for subsequent years.
Budget
Project cost between $5,000 – 15,000
Proposal Requirements
Consultant Information
Provide a brief description and history of the individual or firm, including a description of Single Audit approach, style and process. If multiple staff, please include resumes or CVs and specify which staff will be responsible for each task in the scope.
Experience
Describe audit and annual filing work with similar sized nonprofit organizations. Include a disclosure of the results of any completed peer reviews by the American Institute of Certified Public Accountants or a State Board of Accountancy, including any cooperative resolutions, remedial actions, penalties imposed, or additional review requirements imposed by the regulatory organization.
References
Include name and contact information for representatives of three nonprofits for which a similar scope is performed.
Project Approach
Statement of the firm’s understanding of work to be performed, including tax and non-audit services. Outline the proposed work schedule for each task outlined in the project scope.
Cost
Proposal should include the estimated cost for Fiscal Year 2024, including hourly rates and number of hours, for all work related to tasks listed in the project scope.
Optionally, please break down the rates and any additional costs or options that your firm proposes to provide:
- Fee structure for each of the remaining potential four years of the proposal period (through Fiscal Year 2028), including whatever guarantees regarding maximum fee that would be charged in future years.
- Describe your billing rates and procedures for technical questions that may come up during the year or whether these occasional services are covered in the proposed fee structure.
Key Dates
RFP Release Date: Wednesday, July 10, 2024
Last Day to Submit: Monday, August 12, 2024
Review Period: Monday, August 12, 2024 – Monday, August 26, 2024
Oral Interviews/Presentations, if needed: Monday, August 12, 2024 – Monday August 26, 2024
Selection Date no later than: Monday, August 26, 2024
Submit to / Contact
David Miller
Operations Manager, Alliance for the Shenandoah Valley
dmiller@shenandoahalliance.org
540.435.1082
Alliance for the Shenandoah Valley considers all candidates equally without regard to age, race, gender, religion, sexual orientation, national origin, disability or other non-merit factors.