Last week Congress voted in favor of HR 7010, also known as the Paycheck Protection Program Flexibility Act of 2020. In short, the bill will give nonprofits and small businesses more time to use PPP loans and allows them to spend less on payroll costs, should the bill become law.
Right now nonprofits and small businesses have eight weeks to use their PPP loan and we must use no less than 75% of the loan towards payroll costs. This new bill includes extending the time from eight to 24 weeks for loan expenditures and drops the 75% threshold to a requirement of no less than 60% of loan proceeds spent on payroll costs. We will continue to monitor this new bill and keep you informed. The next steps remain in the hands of the Senate, whether they vote on this bill or propose their own similar version. Time is of the essence as many nonprofits and small businesses started receiving PPP funds in mid-April and the eight week window is rapidly approaching.
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The Idaho Department of Health and Welfare (DHW) and the seven local public health districts have developed guidance to assist with decisions regarding gatherings and public events during the COVID-19 pandemic and stages of the Rebound Idaho plan. They understand that events must be planned well in
advance and some event timelines extend beyond the current Stage 4 of the Rebound Idaho plan. Idaho’s ability to advance from one stage to the next is dependent on gating criteria being met, which requires control of the spread of COVID-19. There is currently no vaccine to prevent COVID-19. Until such time as a vaccine is available or there is sufficient population immunity to the virus, community mitigation and personal accountability measures must be taken. Mass gatherings highly influence virus activity. It is recommended that all future plans for gatherings beyond the stages of the Rebound Idaho plan should be planned with cancellation or postponement contingencies. Idaho public health experts, DHW and all local Public Health Districts, will support any decision to postpone or cancel gatherings and public events in order to protect Idahoans and those who visit Idaho. We have been asked by the State of Idaho to collect some very specific data on the financial impact of canceled and/or postponed events to your nonprofit. Please take three minutes and complete this important flash poll by the close of business Friday, May 22.
The information will be shared with decision-makers at the state level and data will be available by region for decision-makers in your local communities. We need as many nonprofits to complete the survey as possible so please designate one person from your nonprofit who is best positioned to complete this survey. Thank you! SBA and Treasury Release Paycheck Protection Program Loan Forgiveness ApplicationOn Friday, May 15 the Small Business Administration (SBA), in consultation with the Department of the Treasury, released the Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions for the application.
The form and instructions inform borrowers how to apply for forgiveness of their PPP loans, consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The SBA will also soon issue regulations and guidance to further assist borrowers as they complete their applications, and to provide lenders with guidance on their responsibilities. Recently I received some misinformation regarding the status of the Payroll Protection Plan (PPP) funding, round 2 and I wanted to take this opportunity to provide some updated and factual information. I also wanted to clarify the Rebound Idaho grants and clear up any confusion on accessibility to EIDL advances. Lastly, we want and try to collect some data on the amount of funds potentially accessed by our Idaho Nonprofits to help us with our advocacy efforts.
Rebound Idaho $10,000 Grants:
Governor Little announced the criteria for the $300 million in Idaho Rebound Cash grants today. We’ll provide a brief summary of the most important points but highly recommend you visit the website to learn everything you need to know!
I highly suggest you do two things immediately:
A Beautiful Day I had every intention of sending out a Friday communication on May 1, but I just could not seem to find a spare minute in my day to write it. I think this is a common thing for all of us in the nonprofit sector, but particularly now as we’re balancing multiple priorities: regular work, COVID-19 related tasks, staff working remotely, kids who are still at home, and so much more. I always try to be transparent, so this is me telling you Friday was a bit overwhelming. Friday was also an amazing day for many reasons: we exceeded $2 million in funds raised for Idaho Gives and our great state of Idaho has entered into stage 1 of the Rebound Idaho recovery plan. In Boise, it was beautiful outside with warmth and sunshine wrapping us up in a delightful hug that felt special since we’re unable to offer one to each other. I am hopeful for continued recovery both in our community members’ health and well-being and in economic prosperity. This is a marathon, not a sprint. All of this will take time and patience – something I find myself running out of sometimes. Yet, I am committed to doing everything I can to keep my family, my employees, and those that we serve home, healthy, and safe. PPP Loan Applications Open on Monday, April 27 at 8:30 a.m. MDTThe Small Business Administration (SBA) will resume accepting Payroll Protection Plan (PPP) loan applications on Monday, April 27 at 8:30 a.m. MDT from approved lenders on behalf of any eligible borrower. This will ensure that SBA has properly coded the system to account for changes made by the legislation. Organizations are eligible for both an Emergency Injury Disaster Loan (EIDL) Advance AND a PPP loan, however, you can’t use both loans for the same purpose. PPP loans are available through your lender, and EIDL loans and advances are available through the SBA. Check with your local SBA office to learn more about how you can leverage the emergency advance. A Message from Amy Little, CEOIdaho Gives started yesterday, April 23, and will last for two weeks. It is an unprecedented change for an unprecedented time. Now more than ever we can leverage Idaho Gives as an opportunity over these next two weeks to highlight your work, share your impact and most importantly of all raise as much money as we can for as many participating nonprofits as we can. Not only do we have a record number of participating nonprofits, we have the best local media partners who have gone above and beyond in getting the word out about Idaho Gives this year. We have provided dozens of Idaho Gives webinars to help our nonprofits prepare and we have lined up some of the best prizes for Award Pool Funds once again. Idaho Gives started yesterday, April 23, and will last for two weeks. It is an unprecedented change for an unprecedented time. Now more than ever we can leverage Idaho Gives as an opportunity over these next two weeks to highlight your work, share your impact and most importantly of all raise as much money as we can for as many participating nonprofits as we can. Not only do we have a record number of participating nonprofits, we have the best local media partners who have gone above and beyond in getting the word out about Idaho Gives this year. We have provided dozens of Idaho Gives webinars to help our nonprofits prepare and we have lined up some of the best prizes for Award Pool Funds once again. It’s the little things. Lately, I find myself slowing down and taking in the little things. The sun on my face. My granddaughter’s hand in mine. The long walks in the neighborhood. I’m not wearing my headphones on my walks anymore, as I like hearing the squawking of the birds overhead. I’m paying attention to the flowers beginning to bloom and the smell of the blossoms on the tree. But yesterday I cried. It seems like it’s typical on Sundays now – it’s my “new normal.” Sundays used to be a day of getting a coffee, taking my time at the grocery store and just strolling and browsing. It was MY time to just browse and hang out. SBA will Once Again be Accepting Loan ApplicationsThe U.S. House of Representatives has passed the latest COVID-19 bill and President Trump is expected to sign it into law any moment. The SBA will begin accepting Payroll Protection Program (PPP) and EIDL (Emergency Injury Disaster Loan) grants and small business disaster loans effective almost immediately. The best way to find a PPP lender is to start with your existing bank or lending institution. If they don’t plan to offer PPP loans should more funding become available, businesses can search online for eligible PPP lenders or contact their local SBA district office. Check out our helpful hints on the application process and also our guidance on which program to apply for. Don’t forget that you may also qualify for FEMA assistance. The Senate passed a nearly $5 billion relief package on April 21, 2020. We anticipate a vote on the bill as early as Thursday, April 23, but will keep you informed as things may change.
Last night we sent letters of support to Congressmen Simpson and Fulcher to encourage swift passage of the legislation. More than 225 nonprofits and community members signed onto our letters. Thank you! We are the voice of the sector, but our voice is louder when we take action together. Webinar: The Nonprofit Sector - Planning to Reopen
How can the nonprofit sector best prepare for this? Join the panel discussion hear from legal, HR, Department of Labor and Central Health experts as they explain the next steps and answer questions. The U.S. Senate has passed the $484 billion virus relief bill today. The U.S. House of Representatives is expected to vote as early as tomorrow. We are closing our sign on letter at 5 pm MT today and will send it to Congressman Fulcher and Congressman Simpson as soon as possible. The package includes:
As a part of our mission to educate, advocate and collaborate in support of stronger nonprofits, the Idaho Nonprofit Center will be sending letters to Senator Mike Crapo, Senator Jim Risch, Congressman Russ Fulcher and Congressman Mike Simpson with the following information.
We are collecting support for and from Idaho’s nonprofits on the following topics for the phase four COVID relief bill that will be discussed starting this week:
We also encourage you to share this opportunity with fellow nonprofits in your community to ensure they have an opportunity to join in signing onto our letter. The Idaho Nonprofit Center serves as the voice for the sector, but your voice can be added to ours helping us to amplify our message. Nonprofits can and should use this opportunity to advocate on your own behalf. We are stronger together. Today marks one entire month since our Idaho Nonprofit Center staff were together in our office. I made the decision to close our office and move to remote work on St. Patrick’s Day. It is hard to imagine that it has been a full month. As my favorite meme says, this week has been the longest year of my life. We are in such a strange time right now, where the days fly by so quickly as we all rapidly respond to the crisis at hand in our own mission-centric way. And yet it seems like years since life was even close to “normal.” Perhaps that’s because of the added difficulty of adjusting to working in my sweatpants with teenagers and a husband all working and attending school from home at the same time. As Congress works on additional relief for individuals, businesses, and nonprofits affected by the COVID-19 crisis, we are asking for four specific improvements to the nonprofit relief in the CARES Act:
1. Expand access to credit. Helping nonprofits get more immediate assistance by expanding nonprofit eligibility for the Paycheck Protection Program (PPP) and by establishing a dedicated funding stream for PPP loans to nonprofit organizations. Many in the nonprofit sector were either unable to get their application processed or banks told them that their application was not processed in time. As you have probably already heard, the SBA is no longer accepting new applications for the Payroll Protection Program based on available funding at this time. Additionally, the Economic Injury Disaster Loan (EIDL) and $10K advance program is also unable to accept new applications.
The SBA has assured us that they will process previously submitted applications on a first-come first served basis. We do not have a lot of information at this time, but will share what we know and what you can do. As Congress works on additional relief for individuals, businesses, and nonprofits affected by the COVID-19 crisis, we are asking for four specific improvements to the nonprofit relief in the CARES Act:
Expand access to credit. Helping nonprofits get more immediate assistance by expanding nonprofit eligibility for the Paycheck Protection Program (PPP) and by establishing a dedicated funding stream for PPP loans to nonprofit organizations. Many in the nonprofit sector were either unable to get their application processed or banks told them that their application was not processed in time. Bolster charitable giving incentives. Strengthening temporary above-the-line charitable deduction from the CARES Act by allowing taxpayers to use it on the 2019 taxes, significantly increasing the $300 cap, and extending it beyond 2020. As nonprofits will rely even more on charitable giving from the public, it is essential that Congress creates a universal charitable deduction. WEBINAR: SBA Loans and the CARES ACT
I find it hard to believe that it has been almost a month since I sent my first communication as the very first coronavirus case in Idaho was announced. So much has changed and so much is still uncertain. This week I want to highlight how we continue to support our fellow nonprofits and to illustrate what is certain in our world right now. What is certain is that the nonprofit sector in Idaho is stepping up and stepping in to lift our communities - whether on the front lines supporting those most in need or fulfilling your mission in new and different ways. Other than funding, what do you need? As we start to look at the bigger picture of what you might need in the coming months, we created a brief poll to gather more information to ensure we're helping you in the most effective way. Our mission is to educate, advocate and collaborate in support of stronger nonprofits. How we, and you, fulfill our missions looks very different today than it did just one month ago. STATEWIDE – COVID-19 Response Fund for IdahoThe purpose of this fund is to assist low-income Idahoans impacted by COVID-19 to remain financially stable by supporting immediate human needs not covered by government programs, assistance or other traditional relief programs.
Please note, at this time grants are being accepted from human service program providers only. Grants to individuals will not be accepted. Priority will be given to communities and programs serving populations disproportionately impacted by COVID-19 in Idaho. Immediate priorities include services focusing on housing stability, economic stability, food insecurity and child care. Alexander's Advantage Point There is an essential word in the field of emergency medicine. The word is triage. “Triage (verb)—the process of determining urgency and priority of treatment based upon the severity of condition and the likelihood of recovery with and without treatment.”
ER doctors and nurses have certain steps they follow as they practice the art and science of medical triage—vital signs, responsiveness, severity of injury in one patient when compared to another—hard, quick decisions are made that promise quick treatment to one and the delay of treatment to another. Triage first. Treat second. |
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