A new relief program will provide grants to arts organizations that have suffered financially due to the COVID-19 pandemic. The Shuttered Venue Operators Grant (SVOG) program was established by the stimulus bill signed into law on December 27, 2020. The bill included several forms of additional coronavirus relief available to nonprofits, including grants to theaters, …
Fiscal sponsorship is one of the topics we have been receiving a surge of inquiries about during the pandemic at The Law Firm for Non-Profits. Some of these inquiries are driven by organizations seeking a way to respond quickly to one of the myriad challenges facing our country. Others are looking for a way to …
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 …
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 …
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, …
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 …
