On Friday, July 24th, the Federal Reserve Board released modifications to the Main Street Lending Program that will provide greater access to credit for not-for-profit organizations. The Board approved two new loan options to provide support to a broad set of not-for-profit organizations that were in sound financial condition prior to the pandemic. The Board […]
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What Costs May Be Reimbursable By FEMA for COVID-19?
What Costs May Be Reimbursable By FEMA for COVID-19? All major disasters can lead to some form of political, social, and economic consequence. Normally these events are confined to a region of the country and regions within the respective states impacted. COVID-19 is not normal and has impacted all sectors of the economy including governments […]
Private Nonprofit Work Eligible for FEMA Reimbursement
Under the Stafford Act, eligible emergency protective measures taken by private nonprofits to respond to the COVID-19 emergency may be eligible for FEMA reimbursement. In this situation, reimbursement would fall under category B of FEMA’s Public Assistance program. Please remember that this is at the direction or guidance of public health officials. How does FEMA […]
Is There An Extension for 990 Forms?
Is there an extension for 990 Forms? The IRS and the Department of Treasury released Notice 2020-18 on March 20th in response to the Coronavirus pandemic. At first glance, this notice had little impact on tax-exempt organizations and not-for-profits. The Notice 2020-18 applied exclusively to income tax returns and payments due on April 15, 2020, postponing […]
