ECFA – The CARES Act – Key Impact on Churches and Nonprofits
This Webinar-On-Demand focuses on CARES Act in response to the COVID-19 crisis. We welcome guest presenters Michael Batts, CPA, and Frank Sommerville, JD, CPA who unpack the nearly 900-page legislation and its key impacts on churches and ministries.
Just a few of these major changes from the CARE Act include
Significant financial relief for qualifying employers
Expansion of unemployment benefits
A new “universal” charitable deduction benefit to encourage giving by all taxpayers
Link for ECFA Accounts and Registration
COVID-19, CARES Act Assistance Available To Nonprofit Organizations
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), an over $2 trillion emergency economic relief bill enacted to provide immediate aid to individuals and businesses, in response to the coronavirus outbreak, includes important provisions applicable to nonprofit organizations.Eligibility of a nonprofit organization under specific CARES Act programs or provisions will depend on its tax classification and the number of its employees.. Read more here…
Paycheck Protection Program (PPP)
Link to Site: An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.