Nonprofits Seek More Aid From Congress, Treasury Amid Virus

Nonprofits Seek More Aid From Congress, Treasury Amid Virus

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The organizations—which encompass public charities, colleges, and hospitals—are facing the same hardships as many small businesses, including closures, revenue loss, and employee furloughs and layoffs. At the same time, many are also facing increased demand for their services to help suffering people.

“Too many nonprofits are struggling right now to keep their doors open for the people who need them most,” said Rick Cohen, chief operating officer at the National Council of Nonprofits.

For that reason, nonprofits say lawmakers and Treasury should provide more assistance to the industry through additional legislative and regulatory changes—on par with what other businesses and sectors have received.

Legislation (H.R. 748) passed by the Senate Wednesday contains some measures to help nonprofits, including new incentives for people to donate to charities. But groups like the National Council of Nonprofits said they would like Congress to take further steps to help the charitable sector. The House has yet to vote on the legislation.

Source Name: 
Bloomberg Tax
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