Societies & Trusts
Brief Industry Introduction
Societies, charitable trusts, and NGOs play a vital role in social development, education, health, and community welfare. They operate on public funds, donations, and grants, making transparency and compliance crucial. With changing income tax laws, foreign funding regulations, and increasing demand for accountability, societies and trusts face unique financial and governance challenges.
At Mangesh Kadam & Associates, we provide specialized advisory, audit, and compliance solutions that help societies, NGOs, and charitable institutions maintain transparency, meet legal obligations, and achieve their objectives.
Key Challenges & How We Help
Fund Utilization & Donor Accountability
Challenge
Proper utilization of donations and grants is essential to maintain trust and avoid regulatory issues. Mismanagement can lead to reputational damage and withdrawal of funding.
Our Role
We conduct fund audits, grant certification, and utilisation reviews. Our structured reporting builds donor confidence and ensures alignment with intended objectives.
Registration & Compliance with Trust Laws
Challenge
Societies and trusts must comply with state-specific trust laws, FCRA, and Income Tax Act provisions for exemptions. Non-compliance can lead to cancellation of approvals and denial of tax benefits.
Our Role
We provide registration support, FCRA compliance, and advisory on maintaining tax-exempt status. Our solutions ensure smooth approvals and long-term eligibility for benefits.
Income Tax & Exemption Management
Challenge
Complexities around Section 12A/80G registrations, exemptions under Section 10, and treatment of corpus donations often confuse trustees. Incorrect compliance may invite scrutiny.
Our Role
Risk & Governance in NGOs
Challenge
Lack of internal controls and governance frameworks in charitable institutions can lead to misuse of funds and operational inefficiencies.
Our Role
We design SOPs, conduct internal audits, and establish governance systems. Our recommendations enhance accountability and transparency.
Statutory Reporting & Audit Requirements
Challenge
Societies and trusts must meet audit, reporting, and disclosure requirements under Income Tax Act. Delays can result in penalties and cancellation of approvals.
Our Role
Inventory & Revenue Recognition
Challenge
Societies and trusts often focus solely on compliance and overlook long-term financial sustainability. Lack of budgeting, forecasting, and resource planning leads to inefficiencies and underutilization of available funds.
Our Role
We provide budgeting, financial planning, and cash flow management support tailored to non-profits. Our advisory ensures funds are optimally utilized for projects, enabling sustainable operations and growth.
Why Choose Us for Societies & Trusts?
Specialized NGO & Trust Advisory
We provide end-to-end support for NGO and Trust registrations, exemptions, and FCRA compliances. Our expertise ensures smooth operations while meeting all legal and statutory requirements.
Transparency & Donor Confidence
Through strong audit systems and detailed reporting practices, we help build trust with donors and stakeholders. This transparency enhances credibility and long-term funding opportunities.
Complete Tax-Exemption Support
Our team guides NGOs in securing and maintaining 12A, 80G, and other income tax exemptions. This safeguards their financial benefits and maximizes the impact of donor contributions.
Governance & Compliance Strength
We establish robust governance frameworks to ensure accountability, monitoring, and proper fund utilization. This strengthens overall compliance and organizational credibility.