Federal Cares Act

Hello All,

We hope that you, your family and staff are doing well during these difficult times.  It must be overwhelming trying to serve your clients and keep your agency running remotely. The Leadership Group wanted to help in some small way so we plan to send you several weekly emails to help you as we move through this crisis. 

We begin by providing information on the Federal CARES Act, a $2.2 trillion stimulus. 

The first link below is a video presented by the U.S. Chamber of Commerce and focuses on 501(c)(3) agencies.  Neil Bradley, Executive Vice President and Chief Policy Officer explains the in-and-outs of applying for Federal funding through the CARES act.  He explains the provisions for nonprofit organizations which include:

  •        Delay of Payroll Tax Remittance
  •          Employee Retention Credit
  •          Paycheck Protection Program
  •          SBA Economic Injury Disaster Loans
  •          Paid Sick and FMLA Leave  

The second and final link is a sample of the CARES application Form.  Lending institutions may create their own application form, but they will be similar as requested by the Federal guidelines.

https://www.sba.gov/sites/default/files/202003/Borrower%20Paycheck%20Protection%20Program%20Application_0.pdf

This is the perfect time to get your Board involved in helping with this process if you find these benefits helpful...preferably, Board members with a financial background and a legal background. Be sure to check the deadlines. We suggest you move forward as soon as possible.

Consultants at The Leadership Group are not experts in the CARES programs of the application process. We are not in a position to advise you whether these programs would be applicable to or beneficial for your organization. We invite you to educate yourselves about these programs so you can decide if these programs will help.

Take care and be safe.

The Leadership Group LLC

No Comments Yet.

Leave a comment