Non-Profits

PPP loan

NJEDA Small Business Emergency Assistance Grant Program Opens June 9

June 5, 2020

The New Jersey Economic Development Authority (NJEDA) announced that the expanded Small Business Emergency Assistance Grant Program will begin accepting applications on June 9, 2020 at 9:00 a.m. The $25 million program will provide grants up to $10,000 to small businesses, with $15 million reserved for businesses in Opportunity Zone-eligible census tracts. Overview Organizations can use…

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lease accounting

Implementation of Revenue Recognition and Lease Accounting Standards for Private Companies and Nonprofits Delayed

June 4, 2020

The Financial Accounting Standards Board issued an update that delays the effective dates for revenue recognition and lease accounting standards by one year, due to the Coronavirus pandemic. Private companies and not-for-profits that have not applied the revenue recognition and lease accounting standards can delay the implementation by one year for annual reporting periods beginning…

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New York Forward Loan Fund

Relief for New York Small Businesses and Nonprofits with New York Forward Loan Fund

May 29, 2020

New York Forward Loan Fund is a new economic recovery loan program aimed at supporting New York State small businesses, nonprofits and small landlords as they reopen after the COVID-19 outbreak and NYS on PAUSE. The working capital loans provide support for businesses that are reopening and have upfront expenses in order to follow guidelines…

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employee retention credit

Employee Retention Credit: Comprehensive FAQs for Businesses

May 5, 2020

The IRS has issued a series of FAQs on the employee retention credit that is contained in the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act. The FAQs cover detailed eligibility requirements, determining qualified wages, how to claim the employee retention credit, and other valuable information for employers. Read the IRS FAQs on the…

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virtual board meeting

Nonprofits: How to Hold Successful Virtual Board Meetings During the COVID-19 Pandemic

May 1, 2020

The Coronavirus (COVID-19) pandemic has forced many of us to work differently. Even if your nonprofit’s board of directors usually meets in person, current events strongly suggest the need for an alternative option. Here are some best practices for holding virtual board meetings. State Laws Virtual meetings can enable more people to attend and your…

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paycheck protection program

Paycheck Protection Program Resumes April 27

April 27, 2020

The Small Business Administration (SBA) will resume accepting Paycheck Protection Program (PPP) loan applications on Monday, April 27 at 10:30 AM EDT from approved lenders on behalf of any eligible borrower. The Paycheck Protection Program and Health Care Enhancement Act, signed into law on April 24, boosts funding for the Paycheck Protection Program and Economic…

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