While the novel coronavirus pandemic continues to spread across the country, nonprofit organizations continue to operate some of their most important programs.
Brian Gallagher, the CEO of the United Way, which has 9,500 employees and nearly 3 million volunteers in 1,100 local chapters across the U.S., said he has received reports from other leaders that their organizations are operating with little cash.
“While I don’t know the state for all nonprofits, the data we’re seeing from New York City indicates 40,000 nonprofits have zero operating reserves,” he told ABC News. Washington added that donations from major corporations and funds have also declined over the last month.
This is news from one of the largest nonprofits. What does this mean for a small 501c3 located in the small town in Eustis, Florida? Most might qualify for relief that resembles the package offered to businesses that have employees.
Rep. Seth Moulton, D-Mass has co-sponsored legislation that would provide billions in relief to all 501c nonprofits and charities. Moulton said he has gotten calls about nonprofits furloughing staff and was upset that the last stimulus package left out nonprofits from any financial aid.
Under the legislation, which did not have a Senate version as of Thursday, nonprofits of all sizes would be eligible for $60 billion in funds that would be made available through Small Business Administration loans.
“Part of the things in this bill is to fix an oversight that was in the previous bill,” Moulton told ABC News.
The legislation also allows Americans to count donations to nonprofits and charities as tax deductions for their 2019 and 2020 tax filings, a way to encourage more people to make donations.
Washington said he hopes leaders can push forward with this legislation.
“There will be some charities that get through this, but I know there will be a lot of organizations that won’t,” he said. “I do know it will have a detrimental effect on their communities.”
With all of this said, Crazy Critters Inc. will never qualify for any of this financial support because we have zero employees but we will continue to grow and thrive.
We are debt-free and have never felt a deficit because we have built cash making programs such as the nursery. This is one of the most difficult times in our nation.
Would you please consider becoming a sponsor of the Crazy Critters Inc. facility?
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Here is our current needs list. All of our sponsors are listed! You can be there too!
The Honest Truth!
The stimulus check you will get is your life line. We are NOT asking for you to donate from it!
Instead, we are reaching out to those who are less affected by the worldwide shutdown.
You likely have a slew of monthly expenses:
- Mortgage or rent.
- Health insurance.
- Retirement-account contributions.
Here is what you need to know about your Economic Impact Payment. For most taxpayers, payments are automatic, and no further action is needed. This includes taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees.
- Eligibility and General Information
- Accessing Get My Payment
- Payment Status
- Payment Status Not Available
- Bank Account Information
- Locked/Status Unavailable
- Error Message
- Address Changes
Click to see where your stimulus check is.
Are you like us and did not have enough income to file your taxes. They have a link for us to use! Click to go to that
Like what you read? Appreciate the information? We are a non-profit 501c3! Thank us with a contribution by clicking DONATE!