Arts and Cultural Institutions

Part of the Cultural Landscape.

It's hard to truly enjoy Chicago without spending time at one or more of the many cultural institutions that are clients of Blackman Kallick's Not-for-Profit Practice.

From museums to zoos, from gardens to performing arts, our clients make Chicago one of the great cities of the world.

Services Beyond the Audit.

We perform audit engagements for some of the area's most prominent cultural institutions. We also provide the full range of proactive tax and consulting services, including:

  • consulting for …
    • board education and fiduciary responsibility
    • corporate governance issues
  • explaining how the Sarbanes-Oxley Act impacts not-for-profit organizations
  • reviewing and flowcharting internal controls
  • staffing for temporary or strategic needs
  • working with planned giving and development officers on …
    • creating policies and guidelines
    • explaining how to leverage giving techniques to potential donors
    • illustrating techniques such as charitable lead trusts and remainder trusts
  • tax planning and guidance on …
    • providing adequate substantiation of gifts
    • avoiding intermediate sanctions
    • complying with withholding rules on payments to foreign persons
    • complying with sales and use tax rules
    • minimizing unrelated trade or business income taxation attributable to debt financed income or for-profit activities (e.g., gift shops, restaurants, etc.) 

Learn More

To learn more about Blackman Kallick's Not-For-Profit Services, please contact:

 


This publication is part of Blackman Kallick’s marketing of professional services, and is not written tax advice directed at the specific facts and circumstances of any person and/or entity. Contents of this publication are of a general nature, and you should not act on this information without obtaining professional advice from your business advisor that is appropriately tailored to your individual needs and circumstances. This written advice is not intended or written to be used, and cannot be used by any taxpayer, for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.