Posts Categorized: Nonprofits

COVID-19 Relief Grants Available to California Nonprofits

December 29, 2020 Posted by Kristen Anderson in Applying For Grants, COVID-19, Nonprofits

California will offer almost $500 million in COVID-19 relief grants to small businesses and nonprofits. Through the California Small Business COVID-19 Relief Grant Program, nonprofits may be eligible to receive grants of up to $25,000. Applications will be available for the first round of grants beginning December 30, 2020. Program Details There will be two …

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Additional Coronavirus Relief for Nonprofits

December 23, 2020 Posted by Kristen Anderson in Charitable Deductions, COVID-19, Nonprofits

Congress approved a stimulus bill on December 21, 2020 that, if signed by the President, will provide additional coronavirus relief to nonprofits. The bill not only includes an extension of the temporary above-the-line charitable deduction, but also offers another round of forgivable Paycheck Protection Program (PPP) loans to nonprofits. Additionally, it includes several provisions that …

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Nonprofit Endowment Funds

December 2, 2020 Posted by Kristen Anderson in COVID-19, Economic hardship, Nonprofits

As nonprofits struggle financially during the pandemic, many may wonder if they may use endowment funds to keep them afloat. Due to their heavily regulated nature, nonprofits must be extremely careful before they use endowment funds to supplement their budget. Even before a nonprofit can determine whether and how it may use its endowment funds, …

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New Financial Relief for Nonprofits

August 4, 2020 Posted by Kristen Anderson in COVID-19, Non-profits, Nonprofits, Pandemic

New financial relief is available to nonprofits thanks to the Federal Reserve. As a result of the CARES Act, the Fed created the Main Street Lending Program (“MSLP”) to provide support to small and medium-sized businesses to offset financial devastation caused by the COVID-19 pandemic. At first, it was not available to nonprofits. However, on …

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SBA Releases Revised PPP Loan Forgiveness Application and EZ Application

July 1, 2020 Posted by Kristen Anderson in Congress, COVID-19, Economic growth, Non-profits, Nonprofits

The Small Business Administration (SBA) released a revised, borrower-friendly PPP loan forgiveness application. The revised application implements the changes found in the PPP Flexibility Act of 2020. For more information about these changes, please see our blog post on the PPP Flexibility Act. In addition to the revised, full forgiveness application, the SBA also released …

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