How to Utilize P-EBT Cards to Help the Nonprofit Community

Posted By Christina Bell, CPA This week I received a letter in the mail stating my family was automatically enrolled to receive benefits under Delaware’s Pandemic Electronic Transfer (P-EBT) program. Delaware’s P-EBT Program provides food assistance to families with children who lost access to free or reduced-price school meals due to school closures or reduced in-person attendance as a result … Continued

Nonprofit CPA Firm

The Benefits of Giving Back

I recently read an article published by the National Federation of Independent Business entitled 6 Ways Small Businesses Can Give Back to Their Community.

Don’t Strike Out on Fraud Prevention

Posted by Christina K. Bell With the start of baseball season, many American hometowns take great pride in their local youth sport teams. Unfortunately, some local leagues trade in town pride for town headlines. Last month, news broke that a softball program volunteer had stolen approximately $13,000 from the program causing them to charter with another program. The Association of … Continued

Know the Right Way to Report Donations of Services

Posted by Jonathan D. Moll, CPA Donations of services can be useful to your organization during tough economic times. But should you record them in your financial statements? And, if so, what amounts should you assign? FASB Accounting Standards Codification (ASC) 958, Not-for-Profit Entities, specifies when a nonprofit should recognize the fair value of services in its financial statements. There are two … Continued

Minister Housing Allowance Allowed…Or Is It?

Posted by Christina K. Bell This past Sunday while reading my church bulletin, I was intrigued by an article that discussed how a Wisconsin-based Freedom from Religion Foundation had filed a suit to challenge the constitutionality of a tax deduction that clergy are allowed to claim on their housing expenses. The deduction, or housing allowance amount, may be excludable from … Continued

The Gift of Receiving

Posted By Christina K. Bell I can’t believe as I write this there are only six more days to Christmas. With three children 10 and under it is a statistic that I was well reminded of this morning as my son gobbled down the piece of advent candy he had forgotten to eat the night before. While this time of year … Continued