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Colleges and Universities

The Bonadio Group currently audits nearly a dozen colleges and universities in the upstate New York area. No other firm in upstate New York has comparable experience in this sector. TBG is committed to growing its college and university practice and we have developed an infrastructure to support this sector.

We are well versed in areas such as alternative investments, restricted contributions, split-interest gifts, grants, student financial aid, tax-exempt financing, interest rate swaps and UBIT.

We serve several clients with endowment funds in excess of $100 million. TBG prepares over 300 IRS Forms 990 and performs over 100 audits of government grants, in accordance with Government Auditing Standards and OMB Circular A-133, on an annual basis.

The resources we can bring to our college and university clientele is extensive. Our team has expertise in performing quality and comprehensive traditional audit and tax services for educational entities, as well as delivering a wide variety of management advisory services.

College spending per student has risen dramatically in the last decade as colleges are faced with increased government regulation and increased legal liability for students. Projected decreases in enrollment put continued pressure on top line growth, resulting in increased tuition discounting. At the same time, colleges are investing heavily in computer technology and in state of the art facilities.

Colleges continue to diversify their endowment portfolios and increased investment in alternative instruments has resulted in a loss of transparency and the need for increased sophistication in your administrative team.

It is fair to say that public scrutiny of tax-exempt organizations will increase in the years to come. The tax-exempt sector continues to be affected by recent accounting scandals and the Sarbanes-Oxley (SOX) regulations as best practice mentality.

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