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Accounting of the Charity and Support Fund

Ranka užrašinėjama labdaros ir paramos fondo buhalterinė apskaita
The accounting of a charitable foundation must be particularly transparent. Our team will make sure that your foundation’s accounts are fully compliant. We ensure accuracy and accountability in all aspects of foundation accounting.

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Ranka užrašinėjama labdaros ir paramos fondo buhalterinė apskaita

About the services - Accounting for charities and foundations

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Why choose us?

ELV Projects are professionals and enthusiasts in their field and can help you with a wide range of issues. We take care of company accounting throughout Lithuania and remotely.

Helping businesses grow

We solve accounting challenges for different companies.

Many years of experience

In our 11 years of existence, we have served more than 300 different businesses.

Putting the customer first

We listen to our customers’ needs, advise them and solve problems.

Operational decision system

We take care of your bookkeeping without holidays! Contact us the same day.

The process of providing accounting services

A frank conversation

We get to know the client’s situation, understand their wishes and expectations.

Situation analysis

We analyse the client’s situation and provide the best solution.

We make an offer

We provide a cooperation offer, take over the documents.

We care about you

We take care of the client’s bookkeeping and advise on business issues.

Our customers speak for us

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Frequently asked questions

Does a charitable foundation have to keep accounting records?
Yes, all legal entities, including charitable foundations, are required to keep accounting records in accordance with the Accounting Law of the Republic of Lithuania and other legal acts.
What are the requirements for the financial statements of a charitable foundation?
The Foundation must draw up and submit to the Register of Legal Entities an annual financial statement (balance sheet, performance report, notes), an activity report (with information on donations used, projects, etc.)
Does the charity pay corporation tax?
Usually not, if the activity meets the requirements of the Charities and Donations Act. However, income from commercial activities (if any) may be subject to 15% corporation tax.
Is it necessary to keep separate accounts for the use of the donation for the support fund?
Yes, it is essential to ensure that the support is used only for its intended purpose, and therefore the accounting of support must be kept separate from the other activities of the Fund.
Can a donor fund employ staff?
Yes, a support fund can have staff and volunteers. Employment relationships must be properly accounted for - employment contracts, payroll records, tax declarations (GPT, PSD, SSD), etc.