Request for Proposal: Audited Financials/Filing

January 24, 2023

The Mustard Seed of Central Florida, Inc. (“The Mustard Seed”) invites the submission of proposals for the preparation of its yearly audited financial statements and related filings for a three-year period beginning with the fiscal year ending June 30, 2023.  The Mustard Seed does not meet the requirement of a federal single audit.  The audit of The Mustard Seed’s financial statements must be performed in accordance with generally accepted auditing standards.

The Mustard Seed is a 501(c)(3) organization.  The mission of The Mustard Seed Furniture and Clothing Bank is to help rebuild the lives of families and individuals who have suffered disaster or personal tragedy by providing household furnishings and clothing while being environmentally responsible to our community.

The Mustard Seed serves 1,200 families -3,000 individuals each year with funding from donor contributions, private foundations, application fees, furniture sales and mattress recycling.  We have 16-18 employees located in 1 office in Orlando, FL.  Our annual revenue has ranged between $1.2 million and $1.4 over the past 2 years, including approximately $400,000 from in-kind donations.  Each end of year an inventory of product in the 20,000 sq. ft facility is performed by staff and confirmed by the accounting firm.

The Mustard Seed requires the following services:

  1. Annual financial statement audit.
  2. Preparation of IRS form 990
  3. Management letter

The Mustard Seed has completed its annual audit through June 30, 2022.  A copy is the most recent audited financial audit is available on our website, www.mustardseedfla.org.

All the above must be completed within 90 days of the end of each fiscal year for Board review. In addition, The Mustard Seed requests an annual audit meeting held to present the audited financial statements with the Board of Directors’ and Executive Director.

All proposals must include:

  1. Evidence of the firm’s qualifications to provide the above services;
  2. Background and experience in auditing nonprofit clients;
  3. The size and organizational structure of the auditor’s firm;
  4. Statement of the firm’s understanding of work to be performed, including tax and non-audit services;
  5. A proposed timeline for fieldwork and final reporting;
  6. Proposed fee structure for each of the three years of the proposal period, including whatever guarantees can be given regarding increases in future years
  7. Describe your billing rates and procedures for technical questions that may come up during the year, or whether these occasional services are covered in the proposed fee structure;
  8. Names of the partner and audit staff who will be assigned to our audit and provide biographies.
  9. A copy of your firm’s most recent peer review report, the related letter of comments, and the firm’s response to the letter of comments; and
  10. References and contact information from at least 2 comparable nonprofit audit clients.

Proposals must be received by February 13, 2023. Proposals received after the deadline will not be included for consideration.

Proposal should be sent or delivered in a sealed envelope addressed to:

The Mustard Seed

Annual Audit Proposal

12 Mustard Seed Lane

Orlando, FL 32810

The Executive Committee will review all proposals and make a recommendation regarding the choice of auditors to the full board of directors during the March 2023 meeting.

If you have any questions or would like further clarification of any aspect of this request for bid, please contact me at 407-875-2040 x111 or kathy@mustardseedfla.org.  We look forward to receiving your proposal.

Sincerely,

Kathy Baldwin

Executive Director

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