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Private Schools

In a fast-changing and increasingly competitive academic marketplace, private schools face financial, educational and technological hurdles. Armanino has been serving the private school sector since 1953, and we combine this deep expertise with data-driven analysis to help our clients meet today’s challenges and better prepare for the future. 

Our Approach

nboa-national-business-officers-association-armaninoArmanino is an established leader in the field of private education. We serve more than 100 private schools, so our partners and engagement teams have a wealth of real-life experiences to draw upon for business advisory and best practice recommendations.

We don’t just deliver financial results in a typical "this is what happened" approach. Instead we add value by creating a snapshot benchmarking analysis, which compares a client school to a customized peer group and shows how it stacks up against the best private schools in California.

This analysis, combined with our team’s extensive private school experience, provides valuable financial metric analytics and insights. The benchmarking comparisons offer a unique view into the worlds of other schools and can be invaluable in helping a client’s management and board make tough operational decisions and plan for the future.

We believe there is no substitute for real, reliable data that’s backed by experience and expert analysis. 

What We Do

Audit & Review

Audit & Review

We perform an operational review of the nonprofit, focusing on internal controls and proper accounting procedures. We then present the findings, trends and issues to the organization’s board, taking into account its unique industry perspective.
Tax

Tax

Armanino’s tax experts are dedicated to nonprofits. We understand that the Form 990 is more than just a tax return ― it’s a window into an organization’s financial strength, and it also outlines its mission and achievements. The 990 has become a powerful marketing tool reviewed by potential donors, investors, the media and anyone else looking for initial information about a nonprofit. We know how important it is, and we can help any organization get the most value from theirs.
Consulting

Consulting

Armanino provides a full range of specialized services to meet schools’ operational, financial and strategic needs. We can provide bookkeepers to take care of all of your accounting, or we can do project work as needed. We can perform a simple review, set up a Chart of Accounts, establish fund accounting reports, or help integrate accounting and development.

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Experts

Testimonials

Our clients are our biggest testament to the quality, timeliness and best-of-industry services we provide. Take a few minutes to check out our video testimonials and hear from other leaders in the private education industry about their experience with Armanino.

De La Salle High School & San Francisco University High School

Video testimonial featuring CFOs from De La Salle High School and San Francisco University High School describing their experiences working with us.

Marlborough School & Pinewood School

Video testimonial featuring Marlborough School and Pinewood School,
both "first year" clients in 2010.

Resources

How to Recruit Your Nonprofit’s Next High Performer

It’s an age-old challenge: finding top finance talent when everyone is fishing in the same pool, from your nonprofit peers to deep-pocketed, for-profit corporations.

nonprofit-risk-assessment-armanino

In the nonprofit world, risks are everywhere and unwary organizations can be blind-sided. Consider these key areas of exposure and ways you can protect your nonprofit.

FASB Issues ASU on Pushdown Accounting

On November 18, FASB issued Accounting Standards Update (ASU) 2014-17, giving an acquired entity the option to apply pushdown accounting when there is a change-of-control event.

What’s You Audit Fee-to-Value Ratio?

Consistently, we find public companies are overpaying for their national and Big 4 auditors, but receiving lower-quality audits. Where do your fees fall?

SSARS 21 Accounting Update - Armanino

AICPA has issued SSARS No. 21, which will help differentiate between when an accountant performs a compilation, engagement or prepares financial statements.

FASB Provides Private Company VIE Alternative for Leases

FASB has issued new guidance that permits private companies following GAAP to, in some circumstances, elect not to consolidate the financial reporting from variable interest entities that lease propert ...

IRS Releases Latest Rules On ACA Reporting

The IRS has released a combined reporting form and simplified reporting methods to comply with recent ACA requirements.

2014 Tax Calendar

To help you make sure you don’t miss any important 2014 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due for individuals, employers, businesses and others.

Nonprofits: Preparing for FASB Financial Reporting Changes

A recent survey ranked streamlining financial statements as the most important task on the Financial Standards Accounting Board’s (FASB) agenda over the next three-to-five years.

IRS Update: Final Rules on Investment Income and Medicare Tax

On Nov. 26, the IRS issued final regulations addressing the 3.8% net investment income tax and the 0.9% additional Medicare tax under the Affordable Care Act.

Safety Net Essentials: Now More Than Ever, You Need Operating Reserves

Many nonprofits lack sufficient operating reserves to cover three months of expenses—the minimum level many experts consider necessary to maintain financial stability. 

5 Simple Steps to a Better Nonprofit Budget

Preparing your nonprofit’s annual budget is probably one of the least appealing parts of your job. Following these five simple steps can help make the process a little less painful.
 

Going for the Gold: Apply Solid Grant-Writing Techniques to Your Quest

Competition for grants is high. So, if your nonprofit is to become a grant recipient, your proposal will need to shine.

Investing the Other 95%

You’ve met the 5% Minimum Distribution Requirement. Now, what do you do with the other 95%?

Effective Date for ACA Reporting Pushed Out One Year

The IRS has issued guidance on the recently announced delay in implementation of the Affordable Care Act’s information-reporting provisions and its employer shared-responsibility provision.

Supreme Court’s Decision Provides Many Same-Sex Couples Tax Savings

The U.S. Supreme Court’s decision in United States v. Windsor means that many same-sex married couples will be treated as married for federal tax purposes. 

Supreme Court: Decision Affects Tax and Benefits for Same-Sex Married Couples

On June 26, the U.S. Supreme Court issued two landmark decisions (United States v. Windsor  and Hollingsworth v. Perry) could dramatically affect tax and estate planning for same-sex ma ...

Internal Controls: Make Your List and Check It Twice

Nonprofits that don’t exercise constant vigilance in adhering to internal controls open the door for fraud.

Internal Controls Fight Technology-Related Fraud for Nonprofits

The ability to accept and make online payments and maintain databases with detailed profiles of constituents offers obvious benefits to nonprofits, but it may also be subject to fraud attempts that can dodge your traditi ...

Sequester Cuts Take Effect

On Friday, March 1, President Obama signed an order required by law to set into motion the automatic federal government spending cuts known as the “sequester” which could have sweeping effects across a var ...

IRS Expands Relief Program for Employers with Misclassified Worker

In 2011, the IRS launched the Voluntary Classification Settlement Program (VCSP) that allows eligible employers to voluntarily reclassify workers as employees, rather than independent contractors, for future tax periods.

Failure to Plan for the Health Care Mandate Can Cost Big $$$

Starting in 2014, employers can be subject to significant penalties if health care plans don’t “measure up” based on the ACA’s standards.

Employers, Are You Planning for the Health Care Mandate?

If your business has not evaluated its potential costs related to the employer health care mandate, do not delay any longer. 

How the Fiscal Cliff Deal Affects Your Financial Statements

The American Taxpayer Relief Act of 2012 (ATRA) preserved lower income tax rates for most individual taxpayers and made many other income and estate tax law changes. It also extended a number of business tax breaks. LEARN MORE » 

IRS Provides Guidance for New 3.8% Tax on Net Investment Income

Recently, the IRS issued proposed regulations regarding the new 3.8% net investment income tax (NIIT, also known as the Medicare contribution tax) that was created by the Health Care and Education Reconciliation Act of 2 ...

Adaptive Integration

Adaptive has a full range of integration options to connect your system or data with ours, including general ledgers and other enterprise apps such as ERP, CRM, and HR systems, located both on-premises and in the clo ...

Adaptive Planning

Adaptive Planning is the market leader in cloud-based budgeting, forecasting, and reporting. Take advantage of rich functionality and an easy-to-use interface with the world’s ...

Adaptive Discovery

Adaptive Discovery provides visual analytics that empower executives, line-of-business managers, finance and more with timely insight, self-service analysis and reporting, all in the cloud.

Adaptive Consolidation

Intuitive, built for the cloud, and easy to use, Adaptive Consolidation enables organizations to consolidate their financials accurately and efficiently with a fraction of the resources required by traditional enter ...

Adaptive Reporting

Adaptive Planning and Adaptive Consolidation deliver powerful interactive reporting as a standard feature. No programming or special skills are required to use the simple drag-and-drop interface, so users of all kind ...

revenue-recognition-armanino

The field of forecasting has advanced significantly in recent years. But managers need to learn from history about what they can and cannot p ...

IRS Releases Guidance on Health Care Act’s “Play or Pay” Provisions

The IRS has issued extensive proposed regulations implementing the employer-shared responsibility provisions, also known as “play or pay,” of the Patient Protection and Affordable Care Act of 2010.

Final Tangible Property Regulations Incoming

On November 20, 2012, the IRS and Treasury Department issued Notice 2012-73 alerting taxpayers to expect final regulations regarding the deduction and capitalization of expenditures related to tangible property in ear ...

IRS Releases 2013 Cost-of-Living Adjustments Related to Retirement Plans

On Oct. 18, the IRS released 2013 cost-of-living adjustments related to retirement plans. The adjustments can enhance your ability to benefit from IRAs and qualified retirement plans such as 401(k) plans and defined bene ...

As Easy as 1, 2, 3: M&A Goes Smoother with a Financial Expert on Your Side

Mergers and acquisitions (M&A) transactions can be daunting endeavors for both buyers and sellers.

Election Results Leave Much Uncertainty About Tax Law Changes

President Obama’s reelection combined with Senate and House election results that leave both chambers of Congress at nearly the status quo means that much uncertainty about tax law changes remain.

Considerations When Donating Appreciated Property to Charity

The tax law imposes stringent requirements for deducting charitable gifts of property. If you don’t observe all of them, your tax deduction might be reduced or even eliminated.

Some Clarity After Supreme Court Ruling on the Affordable Care Act

On June 28th, 2012, the Supreme Court upheld the Affordable Care Act by a 5 to 4 vote, saying that the Act’s requirement that American’s obtain insurance or pay a penalty was authorized by Congress’s po ...

Expiring Laws, Election Year Complicate 2012 Year-End Tax Planning

Most 2012 income tax rates are scheduled to increase in 2013, and many tax breaks are set to expire.

Treasury Releases Model Intergovernmental Agreement On Foreign Asset Reporting

The U.S. Department of the Treasury has issued a model intergovernmental agreement to implement the information reporting and withholding tax provisions of the Foreign Account Tax Compliance Act (FATCA).

Are Your Clients Prepared to Handle a Fraud Disaster?

Disaster contingency plans enable businesses to protect employees, minimize losses, and get up and running again as quickly as possible.

Supreme Court Upholds Health Care Law: What Do Businesses Need To Do Now?

June 28th’s U.S. Supreme Court ruling has drawn attention to the far-reaching provisions of the Patient Protection and Affordable Care Act of 2010.

CFOs Can and Should Lead Innovation Revolution

Do CFOs see themselves as innovators? They should according to Tapan Munroe, a veteran economist, prolific author and thought leader on innovation. Munroe, who served as chief economist at Pacific Gas & Electric C ...

Why CFOs Leave Their Jobs

CFO turnover in the Fortune 1000 is rising again, according to CFO Magazine. After reaching historic highs of nearly 18 percent CFO turnover in 2008, the economy tanked and movement slowed, dropping to a low of 10.5 p ...

Storytelling: A Fundamental Skill of Business Leaders

Imagine you're CFO of a startup on the hunt for funding and one day you get into an elevator, the doors shut, and you realize you're alone with the head of a well-known venture capital firm. You have maybe 40 seconds ...

New Software Reduces Risk of Running Over Budget

CFOs say they want to deploy new leading edge technology, but cite budget constraints as a barrier to obtaining their most desired technology. That's one of the findings from Armanino's 2012 CFO Benchmark Study.

IRS Issues Guidance on Expanded Work Opportunity Credit

The IRS released guidance and forms that employers can use to claim a tax credit for hiring veterans that explains the expanded Work Opportunity credit.

Mixed News on Misclassification of Workers

Federal and state tax authorities say they lose many millions of dollars in revenue due to the misclassification of workers.

Leading Change in Process Improvement

According to Armanino’s 2012 CFO Evolution Benchmark Survey, Bay Area CFOs say the greatest organizational risk facing their companies is the failure to improve operational processes.

The survey results a ...

Back to the Future: Rely on Financial Statements to Make Decisions for the Future

Is your organization analyzing the RIGHT timely data to make business decisions and plan for the organization’s future?

Payroll Tax Relief Extended Through Year End

In December, Congress was able to pass only a two-month extension of payroll tax relief — on the condition that Senate and House conferees be appointed to work on a full-year extension.

Shining for Your Board

Are you a value creator or a score keeper? Okay, maybe both, but CFOs have indicated through our annual benchmark study that they’d like to spend much more of their time creating value. They also indicated they&rsq ...

For Major IT projects, It's All About Scope

If you're a CFO who manages IT and you have a project on the horizon, you're probably aware that most major IT projects run over budget and time - sometimes way over. Comprehensive IT initiatives touch so many functio ...

IRS Offers Employers a Break on Misclassified Workers

The IRS has announced a new program that allows eligible employers to voluntarily reclassify workers as employees, rather than independent contractors, for future tax periods.

Benefitting the Kids and Charity with One Powerful Strategy

For an individual searching for a powerful wealth transfer device and a charity searching for current cash flow, now is the perfect time to utilize a Charitable Lead Annuity Trust (CLAT).

New Business Intelligence Tools Can Help You Outperform Your Peers

An article in Forbes magazine recently noted that the collection and analysis of data is becoming a "key way for leading companies to outperform their peers." We think that nothing could be truer. The more refined and ...

Nonprofit Organizations More Susceptible to Fraud for a Variety of Reasons

Got an employee who never takes a vacation? Does your controller always bring you invoices to sign at the end of the day on Fridays as you’re preparing to leave? Are your financial statements and bank reconciliatio ...

Challenges Facing 403b Plans

The implementation of the 403b audit requirement placed a new focus on compliance, requiring all ERISA–covered plans with 100 or more eligible participants at the beginning of the plan year which file a for ...

Reducing the Budget Risks

As Saver-in-Chief of your organization, you as the CFO know exactly where the dangers to the corporate budget lurk.

Your business might be labor-intensive (like a law firm) or asset intensive (like a leasing co ...

CFOs are Ideal Leaders for Transformative Change

For executives at startup companies, maintaining open channels of communication between departments is often as easy as walking down the office hallway to ask a question.

But as companies grow in size and dispe ...

A Look at Cloud Computing: Risks and Rewards

Cloud computing is all the rage these days, but what does this new trend really mean for your business?

FASB Issues New Standards for Fair Value Measurement and Disclosures

In conjunction with the International Accounting Standards Board (IASB), the Financial Accounting Standards Board (FASB) on May 12 issued new standards for public and private companies on fair value (FV) measurement a ...

Congress Repeals Expansion of Form 1099 Reporting

Congress has repealed provisions in last year’s Patient Protection and Affordable Care Act (PPACA) and the Small Business Jobs Act (SBJA) that expanded the mandatory filing of Form 1099.

The Return of a Stable Economy Could Pose New Business Risks

The markets are up. Companies are hiring again. And while it’s good news that earnings and profitability are up, for many companies there are still headwinds and concerns in the marketplace. One of those concern ...

Changes to the SAS 70 Landscape

The American Institute of CPAs (AICPA) recently issued the new controls auditing standards that build on and replace the almost twenty-year-old SAS 70 standards and will affect reports issued after June 15, 2011.

CA Franchise Tax Board Steps Up Enforcement of Nonresident Withholding Rules

If you are a California company that pays a nonresident of California income from sources in California, you may potentially have to withhold and send the Franchise Tax Board (FTB) seven percent of all payments that e ...

Tracking the Budget One Dollar at a Time

It stands to reason that no one understands a company’s financial picture better than the CFO. But what if the entire management team could grasp where the money was coming from and where it was going – in ...

How will the Tax Relief Act Affect your Estate Plan?

There’s been much speculation as to what Congress would do about the 2010 estate tax repeal and the scheduled 2011 return of the tax at higher rates and a lower exemption.

Tax Relief Act Provides Businesses with Enhanced Investment Incentives

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, passed by the Senate Dec. 15 and the House Dec. 16, may be best known for extending lower income and capital gains tax rates for in ...

Tax Relief Act Offers Many Income-Tax-Saving Opportunities for Individuals

The extension of the lower income and capital gains tax rates was set to expire Dec. 31, 2010, along with significant reductions to the estate tax, has probably received the most media coverage.

Improve Decision Making Effectiveness

Last month, Armanino sponsored the CFO Rising conference hosted by CFO Magazine in Las Vegas.

Lodging Provided to Employees: Taxable or Not?

The IRS has definitive rules for whether or not lodging is a taxable event to the employee. Special rules exist for educational institutions and will also be discussed.

What Contributes to the Success of an ERP Project: Software or Implementation?

While almost all ERP buyers spend a great deal of time analyzing the functional differences between competing products, they seem to spend very little time scrutinizing how each product will be implemented. LEARN MORE » 

Stimulus Act Provides Businesses Tax-Saving and More

On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (ARRA). The nearly $800 billion act’s government spending initiatives and tax incentives for private ...

Contract Audits Can Add Pure Profit to the Bottom Line

Some companies have recovered as much as a 16% increase to their bottom line when having contract audits performed.

Section 2511(c) and the Uncertain State of the Estate Tax

It’s been almost nine years since the Economic Growth and Tax Relief Reconciliation Act of 2001 called for the federal estate tax to be repealed in 2010 — and reinstated in 2011. The one-year repeal was a ...

FASB Expands Fair Value Disclosures

On January 21, 2010, FASB issued Accounting Standards Update (ASU) 2010-06, Improving Disclosures about Fair Value Measurements. The ASU reports on new disclosure requirements — and clarifications of existing re ...

FASB to Change Accounting for Leases

The lease accounting rules are likely to significantly change in the coming years. Current lease accounting standards have come under criticism for not meeting the needs of users of financial statements.

Five Keys to Success for Your SAS 70 Project

A SAS 70 project requires careful planning, execution and communication between the company and the SAS 70 consultant. Since another company’s auditors will be relying on the SAS 70 report generated, getting it ...

FASB Implements the New Codification of Accounting Standards

Your company’s financial statements are being held to a new standard, and it’s a standard that you may not know about. The landmark change has received little fanfare but is critical for companies as they ...

Low Inflation Adds Up To Meager Cost-Of-Living Adjustments for 2010

On October 15, 2009, the IRS released various rates, limits and other inflation-indexed amounts for 2010. Not surprisingly, given low inflation (deflation in some cases), many amounts will be the same for 2010 as they ...

Donating to Haiti Relief Efforts? You may be Eligible for a 2009 Tax Deduction

On January 20, the House of Representatives passed legislation permitting taxpayers to deduct certain 2010 charitable contributions for Haiti disaster relief on their 2009 tax returns, rather than on their 2010 returns, ...

FASB Codifies New Rules for Consolidation of VIEs

With its recent Accounting Standards Update (ASU) 2009-17, Consolidations (Topic 810): Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities, the Financial Accounting Standards Bo ...

Nonprofit Form 990 and Plan 403(b) Receive Makeovers

In 2009, nonprofits will need to look more closely at their Form 990 and 403(b) plans. And when they do, they will find plenty of people looking over their shoulder.

Think your life insurance proceeds are income tax free? Maybe not, under new rules

One of the key income tax benefits of life insurance policies is that, in general, proceeds received by the beneficiary on the death of the insured are excluded from income ...

Will the HIRE Act Benefit Your Business?

On March 18, 2010, President Obama signed into law the Hiring Incentives to Restore Employment (HIRE) act. The act provides tax incentives that will help many companies grow their businesses as the economy recove ...

Fraud May Come From Those You Least Suspect It

When finding ways to increase an individual's income to make ends meet proves difficult, a convenient way to relieve financial stress is through fraud.

How Health Care Reform will Affect Your Tax Bill

On March 23, 2010, President Obama signed the Patient Protection and Affordable Care Act, representing a sweeping overhaul of the U.S. health care system. Here’s an overview and its major tax-related provis ...

IRS Guidance: New Small Employer Tax Credit for Health Insurance Expenses

The Patient Protection and Affordable Care Act (PPACA), signed into law in March, offers a valuable new tax credit to eligible small businesses and nonprofits that provide health coverage to their employees.

Why is IRS Having a Problem with Companies Using Independent Contractors?

Back taxes, substantial IRS penalties and interest are issues that companies never want to face, but the ongoing recession could increase the likelihood that they will.
Webinar 01/16

Quarterly Update for Intacct

Learn about the new features and functionalities available through Intacct's Fall Release. Our Intacct experts will a ...