Blog: Effective Now – GASB Statement No. 102

State and local governments are exposed to a variety of risks related to certain concentrations, constraints, or events that could impact or even negatively affect operations.  Previously, exposure to…

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2025 Annual Reports Must be Filed with the Pennsylvania Department of State

Business owners operating in the state of Pennsylvania have historically been required to file a report with Department of State every 10 years.    However, beginning in 2025, most domestic and foreign…

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New for Non-Profits: Pennsylvania Annual Reporting Requirements

Beginning in 2025, Pennsylvania non-profit corporations and other non-profits registered in Pennsylvania will now be required to file an annual report with the Pennsylvania Department of State.  In November…

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Blog: Challenges Faced by Not-for-Profit Organizations in Adopting the New CECL Standard

By: Cristopher Sefransky, CPA, CFE, LSSGB Our industry is well over a year into implementation of the transitional guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Update…

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Blog: The Hidden Cost of Government Grants

By: Cristopher Sefransky, CPA, CFE, LSSGB Government grants are a critical source of support revenue for nonprofit organizations.  Grant awards exist for a multitude of different types of organizations…

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PA Non-Profits Have Online Filing Option for Sales Tax Exemption

Non-profits, such as charitable and volunteer organizations, can now apply for and renew a Pennsylvania sales tax exemption. The Department of Revenue launched this online application on myPATH in late…

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IRS increases Mileage Rate beginning 7/1

The IRS announced that for the final 6 months of 2022, the standard mileage rate for business travel will be 62.5 cents per mile, up 4 cents from the rate effective at the start of the year.  While fuel…

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