Information on CARES Act from Rep Clyburn
| Your constituents who are among the 12.3 million Americans who run or work for charitable nonprofits are likely calling your offices with the same questions we’re getting: What do the Families First Act and CARES Acts do to help my organization survive this economic crisis so we can continue meeting the increasing needs in our community? What tax credits and incentives make the most sense for me? Did Congress make my nonprofit eligible for loans, deferments, and help, or did we get left out yet again? Where can I get answers? We’ve also been fielding those questions and thousands of others in recent days. Earlier this week, we conducted a webinar that saw more than 16,000 people register in a little over 24 hours. We’ve received numerous requests to repeat the webinar from a variety of places, including from your colleagues on the Hill. Therefore, on behalf of the networks of the National Council of Nonprofits, we write to share information and analyses about newly passed federal laws and how they affect the work of charitable nonprofits. Farther down in this message is an invitation to an updated webinar that the Council of Nonprofits will host – for free – on Tuesday, April 7 at 3:00 pm EASTERN. We encourage you to share this email, information, and invitation with your nonprofit constituents. www.CouncilofNonprofits.org Informational Resources for Nonprofits Experts at the National Council of Nonprofits and its member state association of nonprofits have compiled the following information based on legislative and legal analyses, surveys, and feedback from nonprofits throughout the country on the front lines of responding to the coronavirus pandemic hitting their communities: · Overview: How Nonprofits Can Utilize the New Federal Laws Dealing with COVID-19, Nonprofit Quarterly, Mar. 26, 2020· Families First Act: Analysis of the Families First Coronavirus Response Act, Mar. 27, 2020· CARES Act: Analysis of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (Pub. L. 116-136), Mar. 27, 2020· Chart: Loans Available for Nonprofits in the CARES Act, updated Apr. 2, 2020· Unemployment Insurance: Self-Insured Nonprofits and Unemployment Insurance, Mar. 26, 2020· State Policy: State Public Policy Resources on COVID-19, updated regularly· Recorded Presentation: Federal Coronavirus Relief Bills: What Do They Mean for Nonprofits?", Mar. 31, 2020 webinar recording and slide deck. Free Nonprofit Webinar Federal COVID-19 Legislation: What do they mean for nonprofits? In rapid succession over the last two weeks, Congress passed and the President signed two far-reaching pieces of legislation designed to provide relief to the American people and businesses – including nonprofits. These bills include major victories for nonprofits, operational relief, and new obligations. On Tuesday, April 7 at 3:00 pm Eastern, the networks of the National Council of Nonprofits will host an updated national presentation – for free – to help all in the charitable community understand the various provisions of the two laws and what they mean for nonprofits. Register Now The Families First Coronavirus Response Act created new workplace obligations for employers and expanded supports for individuals affected by the COVID-19 pandemic. Eight days later, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) authorized more than $2 trillion in spending to inject cash into the economy, businesses, and nonprofits. There is a great deal to unpack: Mandated paid sick and family leave and refundable payroll tax credits Generous loan funds for small (< 500 employees) and mid-size (between 500 and 10,000 employees) nonprofit employers; which program is best for your organization? Above-the-line or universal charitable deduction available for 2020 Employee retention refundable tax credit Expanded unemployment and enhanced funding for social support programs This webinar will share the latest analysis and information available at the time of the webinar, including translating new guidance and regulations from multiple federal agencies into nonprofit-friendly language and answering the questions front line nonprofits need to be resolved so they can keep their doors open and missions moving forward. |