COVID-19 Finance News

Update on SBA Economic Injury Disaster Loan (EIDL) Applications for Nonprofits

Update on SBA Economic Injury Disaster Loan (EIDL) Applications for Nonprofits As the application process moves forward, the SBA continues to provide guidance and clarification in regards to the disaster loan application process. Nonprofits can apply for loans through the program; however, we have been advised that personal guarantees are required for nonprofits similar to…

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Businesses and Nonprofits Can Request Emergency SBA Loans

Businesses and nonprofits can now begin to electronically submit requests for emergency SBA loans The SBA has officially listed Ohio, Indiana, and Georgia as declared disaster areas with regards to COVID-19, and it is suspected that all states will be declared by the end of the weekend. This means that businesses can now begin to…

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Nonprofit Parking Tax Repealed

Congress Repeals Nonprofit Parking Tax Congress approved a $1.4 trillion spending bill (H.R. 1865 the Further Consolidation Appropriations Act of 2020) to avoid a government shutdown on December 20, 2019. The bill includes a repeal of Section 512(a)(7), which imposed the nonprofit parking tax on nonprofit organizations who provided qualified transportation fringe benefits. The repeal…

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What’s in Store for Nonprofits in 2020?

What’s in Store for Nonprofits in 2020? by Bob Reynolds, CPA, CGMA Without question, trends in the economy, technology, societal issues, and politics, just to name a few, significantly impact the strategies nonprofits must formulate to ensure long-term resiliency, impactful program outcomes, and effective operating activities. Too often nonprofit leaders do not invest the time…

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Bob Reynolds awarded the Dave Donaldson Award of Distinction

Brady Ware’s Bob Reynolds awarded the Dave Donaldson Award of Distinction Brady Ware’s Bob Reynolds was awarded the 2019 Dave Donaldson Award of Distinction – the “3D.” The award honors an individual volunteer who, through his tireless efforts, has helped to launch BBB to become its next best version of itself. Bob Reynolds provided expertise,…

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