Johns Hopkins Center for Civil Society Studies has released their latest analysis of national data on employment in the nonprofit sector. The Johns Hopkins Economic Data Project has undertaken a series of estimates of the projected impact of COVID-related job losses on nonprofits, beginning with an estimated 1.6 million job losses from March through May included in their 2020 Nonprofit Employment Report.
The Center for Civil Society Studies released a new report based on data from the BLS Employment Situation Report that estimate nonprofit job losses through September 2020.
Latest COVID-19 Legislation Has Some Good Signs for Nonprofits, Fate Uncertain
On May 12, House Democrats unveiled their latest proposal to confront the public health, economic, and societal consequences of the COVID-19 pandemic. Dubbed the Health and Economic Recovery Omnibus Emergency Solutions—HEROES—Act, the roughly $3 trillion bill is perhaps a starting point for negotiations once all parties can be coaxed to the table. If negotiations do start with the HEROES Act, it would represent yet another positive step for nonprofit advocates who have lifted their voices nationwide.
On Friday, the President signed Congress' latest coronavirus economic relief package, which includes additional aid to small businesses - including nonprofits - and hospitals.
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Economic Injury Disaster Loan program falls short in New Hampshire
Some 126 New Hampshire businesses – less than one in 200 – have received emergency loans directly from the U.S. Small Business Administration, according to figures released by the agency earlier this week on its website.
The Internal Revenue Service announced Thursday it would give nonprofits more time to file their informational tax returns due to the coronavirus pandemic. As a result, nonprofits facing tax deadlines of April 1 to July 14 now have until July 15.
The Coronavirus Aid, Relief, and Economic Security Act CARES Act (Pub. L. 116-136) defined a number of programs that charitable nonprofits will be eligible to apply for. The National Council of Nonprofits outlines the characteristics of each type of loan available through this act.
How Nonprofits Can Utilize the New Federal Laws Dealing with COVID-19
Nonprofit Quarterly asked Tim Delaney, president & CEO of the National Council of Nonprofits, to share insights about how nonprofits might utilize the new federal legislation relating to coronavirus to advance their missions.
The White House Office of Management & Budget (OMB ) Proposes Regulations to Improve Uniform Guidance Indirect Cost Rules
The federal rules governing grants to nonprofits would be substantially improved under proposed revisions to the Uniform Guidance recently published by the U.S. Office of Management and Budget.
Guidance for nonprofits on refunds of transportation tax
The IRS released guidance January 21st that will help nonprofits get refunds of taxes they paid on the now-repealed tax on nonprofit transportation benefits.
Complete Repeal of Taxes on Transportation Benefits
In an end-of-year push, nonprofits nationwide scored a huge victory late Friday night (12/20/2019): the comprehensive budget bill passed by Congress, and signed into law by the President, includes a complete repeal of the federal unrelated business income tax (UBIT) on nonprofits that provide transportation benefits to their employees.
Many tax-exempts will be paying taxes for the very first time this year because of provisions in the 2017 federal tax law. That law imposes tax liabilities on charities, houses of worship, and other nonprofits to generate new revenue and offset tax cuts for for-profit corporations and individuals. In this article, David L Thompson of the National Council of Nonprofits outlines notable new taxes and what groups are saying about them.