Frequently asked questions

Here are answers to some of the questions we’re most often asked. If you don’t see what you’re looking for, we’re happy to discuss your particular circumstances.

Working with Ally

FLEXIBLE SUPPRT, BUILT AROUND YOUR NEEDS

  • Ally specializes in accounting and administrative support for private foundations. We also provide specialized endowment investment accounting services to nonprofit organizations. Our engagements are shaped around each organization's needs, existing resources, and reporting requirements.

  • Yes. We can work alongside your existing staff, provide specialized expertise, or assume responsibility for agreed accounting functions. Our approach is designed to complement your team's capabilities while supporting consistent processes and clear communication.

  • No. Our services are flexible and can be tailored to your organization's needs. Whether you require ongoing foundation accounting, assistance with grants administration, or specialized investment accounting, we can develop a scope of work that addresses your priorities.

  • Yes. Direct access to experienced professionals is central to our approach. You work with people who understand your foundation's financial activities, reporting requirements, and operational history, allowing knowledge and understanding to build over time.

  • Absolutely. We regularly collaborate with independent CPAs, auditors, attorneys, investment advisors, and foundation staff. By coordinating across these relationships, we help maintain clarity, consistency, and a shared understanding of your foundation's financial activities.

Accounting & Financial Reporting

ACCURATE INFORMATION. STRONGER PROCESSES.

  • No. Ally is a specialized accounting and administrative services firm, not a CPA firm. We provide accounting, financial reporting, and audit preparation support while collaborating with independent CPAs and other professionals responsible for audits, tax preparation, and related services.

  • Yes. We assist with audit preparation and coordination, including financial reconciliations, supporting schedules, documentation, and responses to auditor requests. Our ongoing accounting work also emphasizes organized records and consistent processes that support audit readiness throughout the year.

  • Not necessarily. We work within our clients' existing accounting systems whenever practical, adapting our processes to their needs rather than requiring a particular platform. Where appropriate, we can also help evaluate improvements to existing systems and workflows.

  • Yes. We can review accounting workflows, reporting practices, and documentation procedures to identify opportunities for greater efficiency, consistency, and clarity. This may include incorporating tools such as Bill.com to streamline invoice processing, approvals, and payments, while maintaining appropriate oversight and controls. Our approach takes into account your existing systems, internal resources, and operational requirements.

  • Yes. Investment accounting is a core area of our expertise. We support the recording, reconciliation, and financial reporting of investment activity, including complex portfolios and alternative investments, while coordinating with investment advisors, custodians, and other professionals as needed.

Grants Administration

SUPPORTING YOUR GRANTMAKING PROCESSES

  • We assist with the administrative and compliance-related aspects of grantmaking, including grantee due diligence, equivalency determination and expenditure responsibility processes, grant tracking, and reporting coordination. Our support is tailored to each foundation's grantmaking activities and existing procedures.

  • No. Grantmaking priorities, strategy, and approval decisions remain with the foundation. Our role is to support the administrative processes, documentation, and reporting that help foundations carry out those decisions effectively.

Continuity & Transitions

KNOWLEDGE THAT CARRIES FORWARD

  • We begin by developing an understanding of your foundation's financial history, existing systems, reporting practices, and established procedures. We work with your team and, where appropriate, your previous provider and other advisors to facilitate an orderly transition while preserving important records and institutional knowledge.

  • Through consistent involvement, thorough documentation, and a detailed understanding of your foundation's operations, we help preserve the context behind financial decisions and established practices. This continuity supports smoother transitions and allows institutional knowledge to carry forward, even as the people involved change.

Have another question?

Every foundation has its own circumstances, priorities, and ways of working. We welcome the opportunity to learn more about yours and discuss how Ally might be able to help.

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