April 16th Webinar – Nonprofit Organizations and the CARES Act
The recent CARES Act has been assisting and providing relief to small business and individuals, helping them navigate the economic strain of the COVID-19 pandemic. This webinar will focus on nonprofit organizations, and several key issues that nonprofit organizations should be considering in light of the CARES Act. From loans to charitable contributions, and benefit plan implications to financial reporting concerns, there are many factors that nonprofit organizations should be evaluating.
This webinar will be hosted by our nonprofit team leaders: Gary Dubas, Partner; Janice Snyder, Partner; and Jim Shellenberger, Principal. They will highlight many of these factors and provide guidance on next steps. Topics to be addressed include loans, taxes and charitable contributions, unemployment compensation, paid leave, deadline extensions, employee benefit plan implications, and many financial reporting items.
During this webinar, our presenters will provide:
- An overview of loans available (Paycheck Protection Program, loans for larger nonprofits, and Economic Injury and Disaster Loans).
- Highlights of the tax implications of the CARES Act for nonprofits, including payroll tax relief and charitable donations.
- Changes to unemployment compensation and paid leave under the CARES Act and FFCRA.
- Amendments to employee benefit plan hardship distributions, loans, and contributions.
- The impact of the CARES Act on fiscal year end audits and financial reporting.
Additional Details
Thursday, April 16 at 2 PM EST
This one hour-long webinar will take place on Thursday, April 16th at 2:00 p.m. EST. One “Other” CPE credit (Specialized Knowledge) is available for this webinar. The level for this CPE is overview and there are no prerequisites for attending. This program is a live webinar which offers you the opportunity to ask questions and interact with the presenters.
Remember to visit our events page which contains details on all upcoming and past events. And for more COVID-19 resources, check out our COVID-19 Resource Center by clicking here.
Questions on submitting your PPP loan application or the forgiveness process?
Our team stands ready to assist you through the PPP loan application and forgiveness process. Do not go at it alone. Ensure you are submitting the right information and receiving the highest forgiveness amount possible. Visit our PPP Loan Consulting webpage by clicking here to request assistance or support.
This communication is intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although McKonly & Asbury has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.
About the Author
McKonly & Asbury is a Certified Public Accounting Firm serving companies across Pennsylvania including Camp Hill, Lancaster, Bloomsburg, and Philadelphia. We serve the needs of affordable housing, construction, family-owned businesses, healthcare, manufacturing and distribution, and nonprofit industries. We also assist service organizations with the full suite of SOC services (including SOC 2 reports), ERTC claims, internal audits, SOX compliance, and employee benefit plan audits.
