The American Rescue Plan (ARP) Act of 2021 passed in March is the second largest COVID-19 stimulus measure to date and brought significant benefits to individuals, organizations, and benefits offerings. Among the individual rebate checks and expansion to tax credits for parents, there are a handful of provisions of particular interest for not-for-profit organizations. A brief recap of the most notable changes follows.
Topics: not-for-profit, NFP, Employee Benefits, Paid Family and Medical Leave, COVID-19, Paycheck Protection Program, PPP, PPP Loan, Stimulus, Employee Retention Tax Credit, ERTC, American Rescue Plan (ARP) Act, ARP Act, American Rescue Plan
Not-for-profit boards play a key role in developing an organization’s potential by bringing expertise in a variety of fields, including accounting and risk management. The pandemic was extremely disruptive to not-for-profits, which underscores the importance of providing guidance and understanding the COVID-19 impact. All of these factors are also vital to conceptualizing future operational and endowment investment strategies. Management and board members should continue to work together to overcome any lingering repercussions from the pandemic and position the organization for the next chapter. The following are four elements of COVID-19 recovery initiatives that your board should understand.
Topics: not-for-profit, Financial Statement, Endowments, COVID19, COVID-19, CARES Act, Paycheck Protection Program, PPP, SBA, COVID, Stimulus
In late July, Senate Republicans released a proposal for the fourth round of coronavirus relief legislation. The collective of bills involved are being referred to as the Health, Economic Assistance, Liability Protection and Schools (HEALS) Act. The $1 trillion proposal contains nine separate bills that cover everything from expansions of existing coronavirus relief measures to additional funding for educational institutions. Below are five key proposals that could affect not-for-profit organizations..
Topics: not-for-profit, NFP, university, tax credit, COVID-19, Paycheck Protection Program, Employee Retention Credits, PPP, PPP Loan, Heals Act, Senate Republican, Stimulus, Republican Party
