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The firm, which was founded in 1985, will help its new clients prepare and analyze financial data to help satisfy the requirements needed to qualify for government grants and private endowments.
Krauskopf, the founder and CEO of the company, said she wants her firm to ease the burden on the organizations.
“The Great Recession has put a tremendous pressure on all non-profit organizations,” she said. “Artistic companies in particular are struggling to survive.”
According to a survey by Grantmakers in the Arts, the recession resulted in a 17.2 percent loss in foundation assets in 2008, with an additional 8.4 percent hit in 2009. In New York City, there are 562 non-profit performance art organizations competing for government grants and private endowments.
Currently, Krauskopf has several non-profit clients, including the Epic Theater Ensemble and the Shadowbox Theater. The firm has already secured grants by helping complete data profiles, preparing audited financial statements and finalizing budgets.
“To succeed in this difficult environment, non-profit art organizations must be able to present detailed and impeccably prepared financial statements,” Krauskopf said. “As consulting accountants, we can help these organizations compete more effectively for the diminished resources that are available today.”
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