The CARES Act and Your Nonprofit

April 16th, 2020

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Yesterday I sat down with Seth Perlman, Senior Partner at Perlman & Perlman LLP. Seth is one of the nation’s leading experts on nonprofit and philanthropic law, is an active leader in the philanthropic community, and a great partner to many nonprofit organizations and companies that serve the nonprofit sector.

In our conversation, Seth shared his analysis of CARES Act and how it impacts nonprofit organizations. As a bonus, Seth shared some emerging industry trends and insights that he’s seeing across the sector. It’s an incredibly valuable conversation that you don’t want to miss.

Seth helped us answer questions like:

What are the eligibility requirements for nonprofit organizations to access the benefits of the stimulus package? Can organizations of all sizes access these benefits, or is this only for very small organizations?

Are all nonprofits eligible – for example, can faith-based organizations access these benefits?

Following up on that, I know a lot of faith-based organizations will be concerned about “strings attached” to this money. What can you tell us about those concerns, and whether there would actually be any government strings?

What about advocacy and membership organizations – are they eligible to access the stimulus package benefits?

What kinds of things can the loan funding be used for by nonprofits? Are there any limitations or restrictions?

Can you talk about the loan forgiveness aspect of this stimulus package? Are there specific things that a nonprofit must do or must not do in order for these loans to eventually be forgiven?

Are there any risks to nonprofits in accepting this stimulus help from the federal government?

Can you talk with us about the Charitable Giving Incentive that’s baked into this plan? What’s included in that aspect of the stimulus. Do you see this as something that might be a one-and-done to impact charitable giving just in 2020, or is this something you think could get extended over the longer-term?

Is there anything else about this stimulus package that you think nonprofit organizations should be aware of and/or concerned about?

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