Families First Coronavirus Response Act Eases the Burden on Nonprofit Organizations

Posted by Jonathan Moll, CPA Nonprofits, similar to their profit-oriented counterparts, are feeling the negative effects that business interruption caused by the coronavirus pandemic can have on the ability to carry out their missions. Some nonprofit agencies have been forced to temporarily close their doors in Delaware after being classified as non-essential businesses. Many nonprofits in Delaware are considered essential … Continued

IRS Repeals “Parking Lot Tax” on Nonprofit Employers

Posted by Jonathan D. Moll, CPA When the IRS signed the Tax Cuts and Jobs Act (TCJA) into law in December 2017, there were certain provisions directly affecting nonprofit organizations. The most widely debated topic of that act affecting the Nonprofit industry was, without doubt, the assessment of unrelated business income tax (UBIT) on certain transportation fringe benefits that nonprofits … Continued

Essential Resources for Delaware Nonprofits

Posted by Jonathan D. Moll, CPA Managing a nonprofit organization can be a challenging task. It takes passion and drive to create, refine, and implement programs that serve the community or members. Whether it’s a trade association of Delaware dentists or an organization that delivers supplemental educational services to Wilmington’s youth, the challenges are many. For example, managing volunteers, attracting … Continued

UPDATE – IRS Issues Guidance on Employee Parking and Unrelated Business Taxable Income for Nonprofit Organizations

When the Tax Cuts and Jobs Act (TCJA) was signed into law in December 2017, it amended Section 274 and Section 512 of the Internal Revenue Code (Code) and opened the door for the potential of nonprofit organizations generating unrelated business taxable income (UBTI) due to the parking they provide to their employees.

Effects of the Tax Cuts and Jobs Act on Nonprofit Organizations

Many people think that nonprofit organizations (NPOs) are immune to changes in regulations affecting income tax.

A Look Ahead – The IRS’s Strategic Initiatives for Regulating the Tax Exempt Community.

Compliance by operating within an organization’s exempt purpose is paramount to managing, governing, and servicing nonprofit organizations.

FASB Proposes Improvements to Not-For-Profit Financial Statements

Today (04/22/15) FASB issued a proposed Accounting Standards Update intended to improve existing standards for financial statement presentation for Nonprofit Organizations. A summary of the changes is provided, as well as, the full proposed

Identity Crisis – When There is a Need to Change Your Nonprofit’s Name

The need for a nonprofit organization to change its name happens quite frequently. The reasons vary: mergers with other organizations, additions of or changes to major programs, to distinguish from prior affiliated organizations or groups, or to improve marketability and fundraising.

Tax Deductibility of Contributions to Scholarship and Tuition Funds of Nonprofit Private Schools

It is not uncommon for schools that have a mission or philosophy that is rich in helping those in need and supporting the local community to have a benevolence fund established for the benefit of providing tuition assistance to their families in need.

Patient-Centered Outcomes Research Institute Fee

Many larger nonprofit organizations or sponsoring organizations of affiliated entities provide health insurance to its employees or affiliated entity employees under self-insured health plans.

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Author Archives: Jonathan D. Moll, CPA