Eligibility Requirements

Each U.S. resident or citizen will receive up to $1,200 and an additional $500 for every child.

• This amount will be reduced for higher-income taxpayers and begin phasing out after $75,000 in adjusted gross income for a single taxpayer, $112,500 for a head of household filer, and $150,000 for married couples who file a joint return
• The amount is completely phased-out after $99,000 for single taxpayers, $146,500 for head of household filers with one child, and $198,000 for joint filers
• Individuals must have a work-eligible SSN and must not be a dependent of another taxpayer
• Individuals with little to no income and those on federal benefits, such as Social Security, SSI, and veterans’ disability payments, are still eligible

Application Information and Notes

For most individuals, no action is required since the IRS will use a taxpayer’s 2019 tax return, or, if not filed, their 2018 tax return. Payments will be distributed automatically beginning in mid-April, although some seniors and others who typically do not file returns will need to submit a simple tax return to receive the stimulus payment. See further information from the IRS.

In the coming weeks, nonprofits may need to assist the 15% of the population that do not typically file tax returns, including low-income households, in learning about how to request payments.

Eligibility Requirements

• Pandemic unemployment assistance (PUA): Provides emergency unemployment assistance to workers left out of the regular state unemployment insurance or who have exhausted their state unemployment benefits.  A “Covered Individual” is eligible for up to 39 weeks (including any weeks for which the individual received regular unemployment benefits).
  • A “Covered Individual” is an individual who (i) is not otherwise eligible for regular or unemployment compensation; (ii) provides self-certification that the individual is unemployed, or partially unemployed, for various reasons related to COVID-19
  • Expands eligibility for unemployment to self-employed, part time workers who are unable to work due to COVID-19, and those with limited work history.
• Emergency Increase to Unemployment Compensation (Pandemic Unemployment Compensation or PUC):  Individuals eligible for state unemployment benefits or PUA are eligible for an extra $600 per week for up to four months.
• Pandemic Emergency Unemployment Compensation (PEUC): Provides 13 extra weeks of unemployment benefits after exhausting state unemployment benefits.  All but eight states offer 26 weeks of unemployment. To be eligible, workers must be actively engaged in looking for work, but states must provide flexibility in meeting this requirement when individuals are unable to look for work because of COVID-19.
• Funds the cost of the first week of benefits if a state waives its standard one-week waiting period requirement.
• Establishes a new short-term compensation plan where employers can reduce hours instead of layoffs, and employees can receive pro-rated unemployment benefits.
• Funds 50% of the reimbursement of unemployment benefits for workers of non-profits that have elected the reimbursement method for unemployment insurance coverage, sometimes known as self-insurance.

Application Information and Notes

Expanded unemployment benefits are available through December 31, 2020.

Unemployment claims must be filed in the state where you worked. To find information on your state, visit CareerOneStop. Individual should gather his/her income and documentation regarding work situation. Individual will need to provide social security number, home address, telephone number, email address, banks name, address, account number and routing number for direct deposit, your employer’s name, address and phone number, first and last day worked, reason for leaving, and any pension or severance package information.

Individual should file on-line as soon as possible, but confirm that your state is ready to receive applications for Pandemic Unemployment Assistance if you are not otherwise eligible or for other extended benefits.

For general questions on unemployment insurance, visit the Department of Labor’s page.

The relief for non-profits with reimbursement arrangements applies for the period beginning March 13, 2020 through December 31, 2020.

Eligibility Requirements

Permits individuals to deduct up to $300 of cash contributions to most charities in 2020 for those who do not itemize their deductions.

Application Information and Notes

Available for the 2020 tax year.

Eligibility Requirements

Suspends the limitation on deductions for cash contributions to most charities for individuals who itemize. Increases the limitation on deductions for similar contributions by corporations from 10% to 25% of taxable income. Also increases the limitation on deductions from 15% to 25% for contributions of food inventory.

Application Information and Notes

Available for the 2020 tax year (and tax years ending in 2020 for corporations).

Eligibility Requirements

Excludes employer student loan repayments from taxable income of up to $5,250.

Public Service Loan Forgiveness (PSLF): The CARES Act includes several other provisions relating to student loans, including an interest free  suspension of payments due on certain federal loans until September 30, 2020.  The payment suspension will not affect PSLF because for each month the loan is suspended or paid (either by the individual or by the employer on behalf of the individual), the  individual is treated as having made the payment for purposes of the PSLF.  If an individual makes a payment, it will reduce the principal of the loan. See more information from the Department of Education.

Application Information and Notes

Applies to any student loan payments made by an employer on behalf of an employee after March 27, 2020, and before January 2021.

No application required. 2020 IRS Form W-2 should exclude the payments from taxable income.

Nonprofits should review and amend any education assistance program documents to the extent they want to include this benefit.

Eligibility Requirements

Known as the Paycheck Protection Program (PPP), provides SBA 7(a) loans of up to $10 million to certain nonprofits

• Applies to nonprofits under Section 501(c)(3) and tax-exempt veterans’ organizations under Section 501(c)(19)
• Applies to these nonprofits that employ not more than the greater of (1) 500 employees or (2) if applicable, “the size standard in number of employees established by the Administration for the industry in which the” nonprofit organization operates
• The loan is for expenses incurred between February 15, 2020 and June 30, 2020 for payroll costs, health benefits during sick or family leave, salaries or commissions, interest on mortgage, rent, utilities and prior debt
• The size of the loan is the lesser of (1) a nonprofit’s average monthly “payroll costs” for the prior 12 months times 2.5 or (2) $10 million
• Payroll costs include salary, wages, sick leave (unless allowed for paid leave tax credit), health benefits, pension benefits, and state taxes (Payments for salary and wages limited to $100,000). Independent contractors do not count as employees for this calculation.
• Interest rate capped at 4%
• Loans will be provided via existing SBA lenders and other lenders approved by the SBA
• Nonprofits are eligible to have these loans forgiven, effectively turning the loans into grants. Forgiveness is available for the portion of the loan used for the following expenses during the covered period (8 weeks from origination)
  • Payroll costs (as defined above)
  • Interest on mortgage incurred before February 15, 2020
  • Rent obligation incurred before February 15, 2020 and
  • Utilities (electric, gas, water, transportation, phone, internet) for service that began before February 15, 2020
• The amount forgiven will be reduced
  • Proportionally by any reduction in employees retained compared to the prior year, and
  • By the reduction in pay of any employee beyond 25% of their prior year compensation
• To encourage employers to rehire any employees who have already been laid off due to COVID-19, borrowers that rehire workers previously laid off will not be penalized for having a reduced payroll at the beginning of the period

Application Information and Notes

Nonprofits may apply at any lending institution that is approved to participate in the program through the existing SBA 7(a) lending program and additional lenders approved by SBA and the Department of Treasury. Nonprofits do not need to visit any government institution to apply for the program, and should begin gathering suggested documents now.

Starting April 3, 2020, small businesses and nonprofits can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to speak with your financial institution soon because there is a funding cap.

• If you’re a borrower, more information can be found HERE
• If you’re a lender, more information can be found HERE
• For more details on the program—including a sample application—see the SBA’s Paycheck Protection Program landing page.
• See the interim final rule implementing the Paycheck Protection Program, issued April 2.

For information on finding SBA-approved lenders, visit SBA’s online Lender Match tool, your local Small Business Development Center, or local Women’s Business Center.

Eligibility Requirements

SBA EIDL loans are low-interest loans provided through the SBA disaster loan program to help businesses and homeowners recover from declared disasters. The CARES Act expands eligibility for access to EIDL loans and provides upfront grants.

• Only “private nonprofits” are eligible for both EIDLs and the new EIDL grants
• Establishes an emergency grant to allow an eligible nonprofit that has applied for an EIDL loan due to COVID-19 to request an advance on that loan, up to $10,000, which the SBA must distribute within 3 days
• Applicants are not required to repay advance payments, even if denied for an EIDL loan, but advanced payments would be counted towards the loan forgiveness amount under a 7(a) PPP loan
• Funds can be used for payroll costs, materials, rent, mortgage or other debt payments

Application Information and Notes

Application can be made during 2020.

To apply for an EIDL loan, visit the SBA’s COVID-19 Economic Injury Disaster Loan Application.

The law directs the SBA Administrator to issue initial guidance on procedures for application and minimum requirements by April 11, 2020.

To be considered for an expedited loan advance of up to $10,000, select the check box at the end of the EIDL application.

Eligibility Requirements

Provides a refundable payroll tax credit for 50% of wages paid by employers to employees during the COVID-19 crisis.

• The credit is available to employers (1) who were fully or partially suspended, due to a COVID-19-related shut-down order, or (2) where gross receipts declined by more than 50% when compared to the same quarter in the prior year
• The total wages attributed to an employee is capped at $10,000, including health benefits, resulting in a maximum credit of $5,000 per employee
• Eligible wages include
  • For employers with greater than 100 full-time employees, wages paid to employees when they are not providing services due to COVID-19
  • For employers with 100 or fewer full-time employees, all employee wages qualify for the credit, whether the employer is open for business or subject to a shut-down order
• Applies only to wages paid after March 12, 2020 and before January 1, 2021

An employer that receives a loan under the SBA 7(a) PPP is not eligible for the credit

Application Information and Notes

On March 31, Treasury Department and the Internal Revenue Service launched the Employee Retention Credit and provided further details.Employers can be immediately reimbursed for the credit by reducing their required deposits of payroll taxes that have been withheld from employees’ wages by the amount of the credit.

Eligible employers will report their total qualified wages and the related health insurance costs for each quarter on their quarterly employment tax returns or Form 941 beginning with the second quarter. If the employer’s employment tax deposits are not sufficient to cover the credit, the employer may receive an advance payment from the IRS by submitting Form 7200, Advance Payment of Employer Credits Due to COVID-19.

Eligibility Requirements

Allows employers to defer payment of the employer share of Social Security taxes, 6.2% on employee wages.

• The provision applies to all employers, including nonprofits
• There is no limit on the number of employees to take the deferral

Payroll taxes may not be deferred if a nonprofit has a loan forgiven under the Paycheck Protection Program

Application Information and Notes

The deferred taxes are required to be paid over the following two years, with half of the amount paid by the end of 2021 and the other half by the end of 2022.

Eligibility Requirements

Provides a refundable payroll tax credit for 50% of wages paid by employers to employees during the COVID-19 crisis.

• The credit is available to employers (1) who were fully or partially suspended, due to a COVID-19-related shut-down order, or (2) where gross receipts declined by more than 50% when compared to the same quarter in the prior year
• The total wages attributed to an employee is capped at $10,000, including health benefits, resulting in a maximum credit of $5,000 per employee
• Eligible wages include
  • For employers with greater than 100 full-time employees, wages paid to employees when they are not providing services due to COVID-19
  • For employers with 100 or fewer full-time employees, all employee wages qualify for the credit, whether the employer is open for business or subject to a shut-down order
• Applies only to wages paid after March 12, 2020 and before January 1, 2021

An employer that receives a loan under the SBA 7(a) PPP is not eligible for the credit

Application Information and Notes

On March 31, Treasury Department and the Internal Revenue Service launched the Employee Retention Credit and provided further details.Employers can be immediately reimbursed for the credit by reducing their required deposits of payroll taxes that have been withheld from employees’ wages by the amount of the credit.

Eligible employers will report their total qualified wages and the related health insurance costs for each quarter on their quarterly employment tax returns or Form 941 beginning with the second quarter. If the employer’s employment tax deposits are not sufficient to cover the credit, the employer may receive an advance payment from the IRS by submitting Form 7200, Advance Payment of Employer Credits Due to COVID-19.

Eligibility Requirements

Allows employers to defer payment of the employer share of Social Security taxes, 6.2% on employee wages.

• The provision applies to all employers, including nonprofits
• There is no limit on the number of employees to take the deferral

Payroll taxes may not be deferred if a nonprofit has a loan forgiven under the Paycheck Protection Program

Application Information and Notes

The deferred taxes are required to be paid over the following two years, with half of the amount paid by the end of 2021 and the other half by the end of 2022.

Eligibility Requirements

Provides up to $454 billion (of the $500 billion total fund) in financial assistance to businesses, including nonprofits.

• Treasury given authority to develop program to provide loans to nonprofit organizations with between 500 and 10,000 employees
• Loans cannot be forgiven
• Could be direct loans or guarantees of private loans
• Loans made under the program would be at an interest rate no higher than 2%, with no payments due in the first six months
• Borrower must make a good faith certification with respect to several items, including (but not limited to)
  • Economic conditions made loan necessary,
  • Loan proceeds will be used to retain 90% of workforce at full compensation until September 30, 2020
  • Entity will restore not less than 90% of workforce as of February 1, 2020 and restore all compensation and benefits to workers no later than 4 months after termination of the COVID-19 public health emergency, and
  • Entity is domiciled in the U.S. with significant operations and employees in the U.S.

Certain limits on executive compensation would apply

Application Information and Notes

The Treasury has the authority to provide loans through December 31, 2020.

The law direct the Treasury Secretary to issue initial guidance by April 6, 2020.

Eligibility Requirements

SBA EIDL loans are low-interest loans provided through the SBA disaster loan program to help businesses and homeowners recover from declared disasters. The CARES Act expands eligibility for access to EIDL loans and provides upfront grants.

• Only “private nonprofits” are eligible for both EIDLs and the new EIDL grants
• Establishes an emergency grant to allow an eligible nonprofit that has applied for an EIDL loan due to COVID-19 to request an advance on that loan, up to $10,000, which the SBA must distribute within 3 days
• Applicants are not required to repay advance payments, even if denied for an EIDL loan, but advanced payments would be counted towards the loan forgiveness amount under a 7(a) PPP loan
• Funds can be used for payroll costs, materials, rent, mortgage or other debt payments

Application Information and Notes

Application can be made during 2020.

To apply for an EIDL loan, visit the SBA’s COVID-19 Economic Injury Disaster Loan Application.

The law directs the SBA Administrator to issue initial guidance on procedures for application and minimum requirements by April 11, 2020.