Since the pandemic, worker rights are in the spotlight along with health, safety and an expanding wealth gap. Although union memberships have hit record lows, the tide is about to turn.
Does your financial narrative demonstrate value for worker security, stability and negotiating strength in times of crisis?
Cornwell Jackson can identify and perform the right scope for your union’s financial statement audit in accordance with the Office of Labor Management Standards (OLMS). We understand the requirements as amended by the Labor-Management Reporting and Disclosure Act for union financial reporting, recordkeeping, bonding and loans.
Can your union afford to offer new member incentives? Working with the right CPA can help you know for sure.
Other services available to unions include:
- Tax compliance and reporting services
- Defined benefit plan audits and guidance
- Outsourced accounting services (non-audit clients)
- Payroll services
By working with Cornwell Jackson and our experienced assurance team, the annual audit process can identify management and oversight improvements while creating transparency for your members. An independent audit can also reassure new officials or trustees of the accuracy of union financial records.
Tax Services for Unions
Cornwell Jackson’s tax team can perform tax reporting and filing of your required annual Form 990 and any other tax needs such as required payroll or sales tax remittances. Ask us about unrelated business income requirements (UBIT) or state and local tax compliance issues. Schedule a conversation.