Leaders at the nation’s most influential nonprofits are pushing members of Congress to expand aid to the tax-exempt sector in any and all legislation that expands and builds on the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
This is a great way to offer direct support within your community, according to Tiffany Gourley Carter, policy counsel at the National Council of Nonprofits.
Nonprofit leaders had wanted the stimulus bill to allow taxpayers to deduct up to $2,000 in charitable contributions, and had wanted taxpayers to be able to claim the deductions on this year’s taxes, but the bill didn’t include those requests.
“We’re just now looking at the CARES Act and all the SBA stuff trying to understand what kind of relief is available to nonprofits,” says Montana Nonprofit Association Executive Director Liz Moore.
The unique combination of an economic downfall along with restrictions and social distancing protocols the country is experiencing to slow the spread of COVID-19 is creating a snowball effect, devastating nonprofits according to National Council...
Fundraisers are being postponed or canceled. Donations have fallen as much as 75%. Businesses and events that nonprofits operate to earn money, ranging from opera performances to autism therapy centers, have been shuttered.