East Hampton
Nonprofit accounting in East Hampton, NY
East End nonprofits frequently raise most of their money from events.
What you get
- Form 990, 990-EZ and 990-N
- Unrelated business income on Form 990-T
- Restricted and unrestricted funds tracked
- Reporting a board can read
The MyCleverCPA team
- 25+ years in regulated finance, compliance and audit
- Tax work led by a CPA. Jillian Sinel holds the CPA and the CAA
- Hamptons Office at 30 Lincoln St, Sag Harbor, NY 11963
In East Hampton
Nonprofit accounting for East Hampton
That raises the question of what portion of a ticket is a contribution and what portion is the value the attendee received. The Form 990 asks, and so does the donor claiming a deduction.
Auction items, sponsorships and donated goods each have their own treatment, and they are easier to record at the event than to reconstruct afterwards.
Scope
What is included in nonprofit
The same work wherever you are. Scoped to what you actually need.
Annual filings
- Form 990, 990-EZ and 990-N
- Form 990-T for unrelated business income
- New York State charities filings
Fund accounting
- Restricted and unrestricted fund tracking
- Grant and program reporting
- Costs allocated across program, administration and fundraising
Governance and controls
- Internal controls for volunteer-run finance
- Separation of duties on a small team
- Documentation a board can actually review
Setting one up
- Entity formation and the exemption application
- A chart of accounts built to produce a 990
- The written policies the 990 asks whether you have
What this covers
- Form 990, 990-EZ and 990-N
- Form 990-T for unrelated business income
- Annual reporting and regulatory filings
- Nonprofit structuring and entity setup
- Bookkeeping and fund accounting
- Board and management reporting
- Restricted and unrestricted fund tracking
- Internal controls for volunteer-run finance
Local tax
Village or town changes the answer
In the Town of East Hampton, rentals shorter than two weeks are permitted up to twice in any six months, and a rental registry number is required and must appear in the advertisement. Penalties for failing to register run from $3,000 to $15,000, and advertising without the number from $150 to $1,500.
In the Village of East Hampton the rules are tighter. Rentals under two weeks are not permitted at all, there is a maximum of two short term rentals per calendar year, and the registry covers lettings under 120 days with notarised affidavits. The town law does not apply inside the incorporated villages of East Hampton and Sag Harbor, so a village property follows village rules alone.
Enforcement is tightening. The town identified 1,874 listings with roughly half unregistered and moved in late 2025 toward rental tracking software, with officials discussing higher fees and a possible local tax. If you let your house, this is the year to be registered.
On the transfer tax, the 2.5% Peconic rate applies with a $400,000 allowance on improved residential property, but only where consideration is $2,000,000 or less. With a median home value just under $1.2 million, a large share of actual sales here exceed that cap and get no allowance at all. Budgeting on the allowance is how buyers arrive at closing short.
Beyond that: Schedule E, the section 280A fourteen day rule, mixed personal and rental use allocation, passive activity limits, and basis tracking through renovations. Many owners are domiciled in New York City or out of state, which makes nonresident returns on IT-203, domicile analysis and the 183 day statutory residency test the highest value work on this page. Zone 2 for MCTMT at 0.34%.
How it works
How nonprofit runs
Four stages. Most of the value sits in the first two, before anything is filed.
Check the filing history
Which 990 was filed, when, and whether exempt status is still intact.
Straighten the records
Funds separated, allocations documented and balances reconciled.
Prepare the return
The 990 and anything it brings with it, including the 990-T.
Report to the board
Statements and a 990 the board can read without a translator.
Questions
Frequently asked questions
Am I in the village or the town?
It depends on the address, and it changes your rental rules completely. The village prohibits lettings under two weeks and caps you at two short term rentals a year. The town allows under two weeks twice in six months with a registry number. Establish which you are in before you advertise anything.
Is the first $400,000 of my purchase exempt from the transfer tax?
Only if the consideration is $2,000,000 or less. Above that there is no allowance and the full 2.5% applies from the first dollar. Given what property sells for here, a great many sales fall above the cap, and this is the most common error in East End summaries.
I rent the house out for two weeks a year. Do I report the income?
If you rent for 14 days or fewer in the year and use the property as a residence, the rental income can be excluded entirely, though you then deduct no rental expenses. Go to 15 days and the whole picture changes. It is one of the few genuinely bright lines in the code and it is worth planning around deliberately.
I live in Manhattan and have a house here. Where am I taxed?
It turns on domicile and on day counts, and New York audits residency actively. If you are claiming a change of domicile, the documentation needs to be built as you go rather than assembled afterwards.
What happens if we missed a 990?
Three consecutive missed years revokes exempt status automatically. One missed year is fixable and worth fixing immediately. If status has already been revoked, reinstatement is possible but it is a longer road.
Which 990 do we file?
It depends on gross receipts and total assets. Small organizations may only need the 990-N, which is short. We would rather confirm the threshold than have you file the wrong one.
Can you help us set up a new nonprofit?
Yes, on the structuring and accounting side, working with whoever handles the legal formation and the exemption application.
Also in East Hampton
Our other services here
Tax preparation and planning
Most East Hampton returns we prepare involve a second home, rental income, or both.
Tax preparation and planning in East HamptonBookkeeping and accounting
Rental property books here need to be kept per property, not in one bucket.
Bookkeeping and accounting in East HamptonTrust and estate tax
With owner occupancy at 77.8% and a median value above $1.1 million, most East Hampton estates are property estates.
Trust and estate tax in East HamptonIRS representation
Second home owners here draw residency examinations.
IRS representation in East HamptonTalk to us about nonprofit in East Hampton
Book a time online, or call the Hamptons office directly.
Nearest office
Hamptons Office
30 Lincoln St, Sag Harbor, NY 11963
Phone
Office hours
Sunday to Friday, 11am to 8pm Eastern.
Closed Saturday.