Colleagues,

Please see the message below - remember that your nonprofits may also be eligible for small business loans from state, city and county sources. I don't know if any of these have the forgivable condition.

Make smart decisions.

Maureen

---------- Forwarded message ---------
From: Laura Pierce, Washington Nonprofits <info@washingtonnonprofits.org>
Date: Thu, Mar 26, 2020 at 11:14 AM
Subject: How will the federal new stimulus package affect Nonprofits?
To: Maureen Howard <Maureenhowardconsulting@gmail.com>

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New Federal Stimulus bill includes provisions for Nonprofits

Dear Washington Nonprofits Community,

We know that you are all hurting to various degrees at this time. We are working hard to advocate for nonprofits to be included in relief packages, and I am writing to share information about the new Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Congress and Administration negotiators have agreement to pass these provisions, which has not yet passed yet. It is expected to pass within a few days.

Among other positive steps, CARES would provide emergency small business loans for nonprofits which can be forgiven if employment is maintained through June 30.

The following analysis is provided by our partner, the National Council of Nonprofits:

How the COVID-19 Economic Stimulus Bill Would Affect
Nonprofits

Coronavirus Aid, Relief, and Economic Security Act
(CARES Act) (S. 748)

Congressional and Administration negotiators reached agreement on the Phase 3 COVID-19 economic stimulus bill early Wednesday morning and just released the legislative text this hour. The Senate and House hope to pass the $2 trillion legislation as quickly as possible.

What’s in the Bill for Nonprofits?

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (S. 748) provides significant funding for businesses, hospitals, schools, and social support programs, among many other things. Below are key nonprofit issues of sector-wide interest on which advocates have been most active. Learn more on each of these topics by clicking through to see the full analysis.

Emergency Small Business Loans
Economic Injury Disaster Loans
Charitable Giving Incentive
Self-Funded Nonprofits and Unemployment
Employee Retention Payroll Tax Credit
Industry Stabilization Fund

Other Significant Provisions:

Direct Payments to adults of $1,200 or less and $500 per child ($3,400 for a family of four) to be sent out in weeks.
Expanded Unemployment Insurance
Amendments to the New Paid Leave Mandates

Read the Analysis

We will continue to share information with you in the coming days and weeks. Should you wish to join in our advocacy efforts, a small step you can take today is to sign on to our joint letter to state elected officials.

Add Your Organization's Voice

Thank you for all you are doing right now for our communities,

Laura Pierce
Executive Director
Washington Nonprofits

Forward

Washington Nonprofits

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