Faith Based Organizations


Faith based organizations such as churches, temples, mosques, and synagogues must retain non-profit status as governed by specific Internal Revenue Service rules and regulations, including taxable status of non-owner occupied rental real estate and salary differentials for religious leaders. Our knowledgeable staff provides services and expertise in:


  • Assistance with new building and/or construction projects

  • Assurance services

  • Financial statement preparation including audits, reviews and compilations

  • Non-profit Forms 990T and 990

  • Tax compliance consulting and/or filing as required


Our relationship-driven approach to meet regularly and work closely with organization representatives is paramount to our clients’ success. 

We assist in determining whether or not your plan needs an audit. Should your retirement plan require an audit, Penan & Scott, P.C. provides sound expertise in performing this attest function. Our team looks to ensure all Department of Labor standards are met and reported correctly. In addition, we

will work closely with your TPA to evaluate and verify observance of current regulations applicable to the employee benefit plan area of practice. Although many see this service as a necessary evil to operating a large employee benefit plan, we look to provide a quality accurate product, seek to become your trusted auditor, and add value every step of the way. Our committed staff delivers the following services:


  • Assurance services
  • Research and resolve possible prohibited transactions
  • Review and design of executive compensation programs
  • Assist clients with DOL and IRS inquiries and audits of their plans
  • Employee benefit plan design, documentation, and implementation

Non-Profit | Faith Based Organizations | Employee Benefit Plans

  • Assurance services including audited and reviewed financial statements in accordance with OMB Circulars
  • Non-profit Forms 990T and 990 preparation
  • Consulting 

Employee Benefit Plans

Non-Profit Organizations

 Full scale, financial solutions for non-profit organizations is one of our specialties.  To retain non-profit status these organizations are governed by specific financial reporting and Internal Revenue Service rules and regulations. Our dedicated staff has unparalleled experience and provides the following services: