Coronavirus Strikes Nonprofits in More Ways than One

By Andrea Wilson  

Now present on every continent except Antarctica, COVID-19 has infected more than 125,000 people, and is responsible for more than 4,600 deaths. With the number of cases in the U.S. continuing to climb, individuals and companies alike are taking steps to prepare for a pandemic. From a shortage of masks and hand sanitizer,...

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The Cost of Providing Employee Parking Just Went Up

Written by Sandra Nonnenmocher, CPA, MST & Robin Bodine, CPA

As a business owner or administrator for a tax-exempt organization, you are well aware of the costs of providing parking for employees e.g. lot maintenance, snow removal, insurance, security, and other lot expenses.

What you may not be aware of is under the Tax Cuts and Jobs Act,...

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By Laurie De Armond, CPA, and Adam Cole, CPA

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By Joe Sremack, CFE, and Gurjeet Singh, MCP

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Are grants subject to revenue recognition?

By Lee Klumpp, CPA, CGMA

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FAQS About PA’s New Audit Requirement Thresholds for Nonprofits

What are the new PA audit requirement thresholds?

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Significant Changes Impacting PA Nonprofit Organizations

As many of you are aware, the Tax Cuts and Jobs Act of 2017 changed the itemized and standard deduction rules for individual taxpayers beginning with the 2018 tax year.  The Act essentially doubles the standard deduction for individual taxpayers.  For good reason, many nonprofit organizations have expressed concern about the negative impact this...

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Tax tips you should know if you have charity-related travel expenses

Do you donate your time to charity? If you travel for it, you may be able to lower your taxes. Here are some tax tips that you should know about deducting charity-related travel expenses:

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Starting a 501(c)(3) Just Became Easier

On July 1st, the IRS released an abridged form to obtain tax exempt under Section 501(c) (3) of the Internal Revenue Code. If an organization has less than $50,000 in gross receipts and less than $250,000 in assets, these organizations may be eligible to file Form 1023-EZ when applying for tax exempt status.  The Form 1023-EZ form takes the...

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Missing Participants? Understanding Your Fiduciary Responsibility to Locate Unresponsive Plan Participants

Written By: Megan Senkowski, CPA

A common issue facing plan administrators of defined contribution plans relates to asset balances in their plans of terminated employees. Often times, these balances can sit there for years, generating interest/investment income for the participant, as well as additional administrative expenses for the plan. In the...

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