The CARES Act and the Families First Coronavirus Response Act provide significant benefits and protections for nonprofit organizations. Here’s an overview of the key aspects of each:
On March 27th, President Trump signed into law the CARES Act, an emergency relief bill aimed at providing much-needed relief to individuals and businesses in response to the coronavirus. In addition, nonprofit organizations received vital support through the Act, and we have included an overview of some key provisions that are applicable to nonprofits below:
We have an article that goes into more depth about these and other tax-related provisions of the CARES Act – View Article
You can also read more about the key provisions of The CARES Act impacting nonprofit organizations through The National Council of Nonprofits – View Brochure
Signed into law on March 18th, this relief bill mandates paid leave benefits for small business employees affected by COVID-19 and establishes related payroll tax credits for employers. The National Council of Nonprofits created an in-depth brochure on what the Families First Coronavirus Response Act means for Nonprofits – View Brochure.
We understand that in this time of uncertainty you may have growing concerns for the financial health of yourselves and your organizations, employees and families. We have curated some helpful resources on our COVID-19 Updates & Resources page and will continue to update it as new information becomes available. Please contact us if you have questions about these updates and how they may affect your personal and/or your organization’s situation.