New COVID-19 Resources for Nonprofits, Churches & Higher Ed
“Those who know your name trust in you
for you, LORD, have never forsaken those who seek you.”– Psalm 9:10
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 Paycheck Protection Program (PPP) has run out of funds. News outlets are reporting that the Small Business Administration (SBA) has reached the $349 billion lending limit for the PPP. If you are in the process of applying or were planning to apply, we recommend you continue, as the Trump administration has requested an additional $250 billion for the program. Learn more in this Associated Press article.
- Join us for free webcasts.
- Friday, April 17 (tomorrow) – Managing Partner Fran Brown will present on “Forging Forward: Navigating the CARES Act” as part of the Virtual Philanthropic Conference Series from Changing Our World, Inc. Learn more and register.
- Wednesday, April 22 – During “A First Look at Paycheck Protection Program Loan Forgiveness,” Partner Ted Batson will review current guidance, potential best practices for accounting for PPP loan funds, and computation of your loan forgiveness amount. Learn more and register.
- Friday, April 24 – Partners Ted Batson and Tim Sims will answer audience-submitted questions during “The CARES Act – Common Issues and Considerations for International Mission Agencies.” This webcast is co-sponsored by Missio Nexus. Learn more and register.
- Get insight on direct financial aid grants for students under the CARES Act. As more guidance about the CARES Act is provided, higher education institutions have questions about the funds available to them. Partner Dan Campbell answers two common questions in this article.
- The IRS has released guidance on the deferral of employer payroll taxes under the CARES Act. Here are the key takeaways.
- The IRS has extended the filing deadline for Form 990 and other tax forms. The IRS has provided filing deadline relief for virtually all tax forms due between April 1, 2020 and July 15, 2020. The extension includes a number of forms applicable to nonprofits. Read more.
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