Financial Audit

We are seeking a qualified volunteer CPA or nonprofit accounting professional to assist Larry Thomas Youth Development (LTYD) in completing a financial audit for our organization. As a small but growing nonprofit serving underserved youth through education, mentoring, and community support programs, we want to ensure financial transparency and accountability to our donors, board members, and stakeholders.

Specific Tasks the Volunteer Will Assist With:
Conducting a Financial Audit:
Review our financial statements for the fiscal year [insert fiscal year here, e.g., 2024].
Evaluate the accuracy of records and compliance with GAAP (Generally Accepted Accounting Principles).
Identify any material misstatements, inconsistencies, or concerns.
Preparing Audited Financial Statements:
Create the full set of audited financial statements including:
Independent Auditor’s Report
Statement of Financial Position (Balance Sheet)
Statement of Activities (Income & Expenses)
Statement of Functional Expenses
Statement of Cash Flows
Notes to Financial Statements
Internal Controls Review:
Assess existing internal controls and provide recommendations for improvement.
Provide a Management Letter (if applicable) outlining potential risks or control weaknesses.
Support Documentation:
Help our team prepare and organize supporting documents such as bank statements, grant reports, payroll records, and transaction ledgers.
Guide us in preparing a signed management representation letter, if needed.
Board & Compliance Communication:
Present findings to our board if requested.
Ensure the audit meets any requirements for grant funding, insurance, or state nonprofit compliance.

Make a Lasting Impact—Volunteer Your Skills with LTYD!
At Larry Thomas Youth Development (LTYD), we believe in turning pain into purpose by empowering underserved youth with the tools they need to succeed in school, in life, and beyond. From providing scholarships and mentoring to distributing food, hygiene kits, and hope—everything we do is aimed at building stronger futures for young people in our community.
We’re currently seeking a skilled volunteer to help us complete a financial audit—a crucial step in strengthening our infrastructure so we can expand our impact. With your expertise, we’ll be better equipped to:
Qualify for larger grants and funding opportunities that require audited financials
Ensure transparency and accountability with our board, donors, and stakeholders
Strengthen our internal controls to support long-term sustainability
Scale our youth programs into more schools and communities
Your time and talents will directly help us increase high school graduation rates, reduce dropout rates, and provide life-changing mentorship and resources to youth who need it most. You won’t just be crunching numbers—you’ll be laying the financial foundation that makes real transformation possible.
Join us in this mission and help LTYD become grant-ready and growth-ready. Your support will echo in the lives of every young person we reach.

To prepare for this project, we have gathered our budgeting information, IRS Form 990s, and will share access to our financial management tools. We plan to implement the recommendations of this project by strengthening our internal controls, improving the accuracy and transparency of our financial reporting, and aligning our accounting practices with nonprofit compliance standards to better support future growth, grant readiness, and board oversight.