In the wake of the chaos of applying for a loan under the Paycheck Protection Program (PPP), borrowers are now uncertain if they even qualify for the PPP loan they have already received. The Small Business Association (SBA) released an updated FAQ with guidance that should make borrowers think harder about the required certification they …
While the pandemic is hitting the entire nonprofit sector very hard, the Covid-19 impact on arts nonprofits has been particularly acute. In good part this is because the social distancing necessary to combat the virus is so antithetical to the very nature of our cultural gathering spaces. The impact is also being deeply felt by …
The IRS announced that it will extend all nonprofit filing deadlines (i.e., exempt organization filing deadlines). Due to the coronavirus pandemic, all IRS forms that exempt organizations are required to file between now and July 14, 2020 will now be due on July 15, 2020. For example, a nonprofit organization with a December 31 year …
In addition to the relief provided to nonprofits by the Federal Government, discussed in more detail on our COVID-19 resources webpage and in earlier blogs, Governor Gavin Newsom has unveiled new resources to help small businesses, including nonprofits, in California. Loan Guarantees for California Nonprofits California is allocating $50 million for loan guarantees to small …
Since the recent enactment of legislation providing COVID-19 relief to nonprofit organizations, a flood of information has deluged the Internet and inboxes about how to partake of that relief. Most of that is about the Payroll Protection Program, the forgivable loan available to small businesses including nonprofits. Unfortunately, some of this information has been incorrect, …
Relief is on the way for nonprofits affected by the COVID-19 pandemic, including forgivable loans.
