CARES Act: Tax Relief for Businesses
The CARES Act signed into law on March 27, 2020 contains numerous provisions to deliver tax relief to businesses amidst the financial crisis caused by the COVID-19 pandemic. Charitable Contributions -...
View ArticleWhat All Employers Should Know About Disaster Relief Funds to help with COVID-19
The COIVD-19 pandemic is placing new and unprecedented demands on both taxable and tax-exempt employers and their employees. One option many employers may not have previously considered is the use of a...
View ArticleCARES Act Relief for Tax-Exempt Organizations
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted on March 27, 2020 and provides emergency relief to the American people and businesses in response to the COVID-19...
View ArticleCARES Act: Relief for Nonprofits
The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides over $2 trillion of economic stimulus and contains several items that benefit the nonprofit sector. There are significant...
View ArticleNon-Profit Organizations and the CARES Act: Can Non-Profits Take Advantage of...
Like for-profit businesses, non-profit organizations are struggling with many of the same financial difficulties during this uncertain time. Some non-profits have several employees and largely depend...
View ArticleSummary of CARES Act Employer Relief Programs for Businesses and Nonprofits
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law on March 27, 2020. Among other things, the Act provides relief programs for employers, including loans, grants...
View ArticleCARES Act Benefits Explained: Key Provisions for Businesses and Nonprofit...
The newly enacted Coronavirus Aid, Relief, and Economic Security Act (commonly known as the “CARES Act”) offers a wide range of benefits and incentives to help businesses weather the economic downturn...
View ArticleCARES Act Relief Summary for Nonprofits
In the wake of the novel coronavirus disease outbreak, more formally known as COVID-19, businesses and other entities have found it increasingly difficult to continue operating in an uncertain...
View ArticleCOVID-19: UPDATED Nonprofit FAQ for CARES Act Paycheck Protection Program
Although nonprofit organizations have not traditionally been eligible for financial assistance from the Small Business Administration (“SBA”), the Coronavirus Aid, Relief, and Economic Security Act...
View ArticleTreasury Department Releases Vital Paycheck Protection Program Information
The much-anticipated CARES Act provided for the Paycheck Protection Program, which is meant to help small businesses both retain their employees and meet their rent and other operating expenses during...
View ArticleThe CARES Act Paycheck Protection Program: Special Considerations For...
The recently enacted multi-trillion dollar Cares Act has expanded Small Business Administration (SBA) business loans by creating a Paycheck Protection Loan Program (PPP), which offers forgivable loans...
View ArticleFinancial distress of the COVID-19 pandemic on not-for-profits
Charitable institutions and not-for-profit entities (NFPs) are particularly vulnerable to financial distress because of the COVID-19 pandemic. Like most for-profit entities, NFPs are experiencing a...
View ArticlePaycheck Protection Program: Are You Feeling Small and Left Out? There May be...
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) created a new program within the U.S. Small Business Administration’s (SBA’s) flagship 7(a) Loan Program called the “Paycheck...
View ArticleCARES Act Loan FAQs for Nonprofits, Foundations and Small Businesses
The U. S. Small Business Administration (SBA) on April 2, 2020, released an Interim Final Rule regarding how the agency will implement the “Paycheck Protection Program” of the Coronavirus Aid, Relief,...
View ArticlePaycheck Protection Program (PPP) Information Sheet: Nonprofit Borrowers
The following information has been adapted from the Small Business Administration’s (SBA) Paycheck Protection Program Borrower Information Fact Sheet to provide information tailored for nonprofits....
View ArticleAlert: Nonprofit Guide to the CARES Act
Nonprofit organizations can take advantage of many of the relief options offered by the US Coronavirus Aid, Relief, and Economic Security Act, a $2 trillion emergency relief in response to the COVID-19...
View ArticleAlert: Four Fast Ways to Form a Charity to Address COVID-Related Matters
In the face of the COVID-19 outbreak, groups ranging from small neighborhood projects to large national initiatives are mobilizing quickly to help. Many of those groups have questions about whether...
View ArticleMassachusetts Nonprofit Corporate Governance – Emergency Powers
Massachusetts General Laws Chapter 180, the Massachusetts corporate statute governing nonprofits, does not currently provide for emergency powers included in many of the model nonprofit acts adopted in...
View ArticleSBA Clarifies that Houses of Worship and Other Faith-Based Organizations Are...
The Small Business Administration (SBA) has issued supplemental guidance to clarify that faith-based organizations, including houses of worship, are eligible to receive SBA loans under the Coronavirus...
View ArticleThe FFCRA and CARES Act: Key Provisions Affecting Nonprofit Organizations
On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act (“FFCRA”) (H.R. 6201), and on March 27, 2020, he signed into law the Coronavirus Aid, Relief, and Economic...
View Article