New COVID-19 Resources for Nonprofits, Churches & Higher Ed
“The Lord rewards everyone for their righteousness and faithfulness.” – I Samuel 26:23
Visit capincrouse.com and click the COVID-19 banner for the latest resources. We’re updating the site continually as new information becomes available.
During this time of rapid change, each Thursday we will send a recap of the latest COVID-19 resources and information.
Here is what’s new this week:
- The Small Business Administration (SBA) has extended the safe harbor for returning Paycheck Protection Program (PPP) loan funds to May 18. Borrowers do not need to apply for this extension. Read the full text here.
- The SBA provided guidance on PPP loan good faith certification and a safe harbor for loans under $2 million. The guidance also addresses what will happen if the SBA finds you lacked “an adequate basis” for the required certification. Learn more.
- Considerations for navigating payroll costs and PPP loan forgiveness. Many organizations have questions about what costs can be included in allowable payroll costs in order to maximize PPP loan forgiveness. This article outlines some general principles and examples of proposed expenditures our nonprofit clients have been asking about.
- Join us for free webcasts.
- Tuesday, May 19 – Join Partner Stan Reiff for a Horizons Stewardship webinar on “Cash Flow Management, Budgeting, and Church Financial Strategies in 2020.”
- Wednesday, May 20 – Partner and Tax Counsel Ted Batson will lead a Church Law & Tax webinar on “Our Church Got a PPP Loan—Now What?”
- Thursday, May 21 – Stan Reiff and Ben Stroup of Velocity Strategy Solutions will discuss “Breakthrough Leadership – How to Thrive in Uncertain Times” during this interview-style webcast.
- Learn next steps for churches. Nathan Artt of Ministry Solutions joined Stan Reiff to provide critical insights and next steps for churches in the “Create Your COVID-19 Financial Recovery Plan Now.” You can watch the recorded webcast here.
- Get financial, governance, and other guidance for church leaders in under five minutes with our new Facebook Live “Insights” series. Watch the recording of today’s shortcast on “How to Get Your Attendees to Contribute Online” with Partner Rob Faulk here and see a list of upcoming topics on our website.
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