Nonprofit tax reporting requirements for non-cash charitable donations

by H2R CPA Team Your nonprofit probably already ensures that donors receive a receipt with information about claiming a charitable contribution deduction on their tax return. But your obligations may go further than that. For non-cash donations, you might have responsibilities related to certain tax forms. Form 8283 for donorsWhen filing their tax returns, donors … Read more

Highlights of the PICPA Insurance Conference

by Leo A. Hannah, CPA, MBA, Partner I recently attended the Pennsylvania Institute of Certified Public Accountants (PICPA) Insurance Conference and wanted to share what I thought were the most relevant topics for my Fraternal Benefit Society clients: One of the main themes was cybersecurity. The Pennsylvania Department of Insurance will eventually be bringing in specialists … Read more

What are my responsibilities as a member of a nonprofit board of directors?

by Edward G. Scherer, CPA Serving as a member of a nonprofit board is an honorable way to contribute to a cause that is important to you and give back to your community. However, many people do not realize that a board position comes with fiduciary responsibilities, including the following: Making careful decisions that protect … Read more