The Nonprofit Consulting Firm of New York City

There will be an expansion to the paycheck protection program (PPP). Select nonprofit organizations with more than 500 employees in multiple locations will now be eligible. Previous restrictions for the PPP loan prevented crucial relief. Currently, the PPP loan deadline is March 31, but that deadline will not give many nonprofits time to apply. Lawmakers approved the PPP Extension Act of 2021 to May 31. If the Senate passes the bill, lawmakers will need to act fast in implementing final approval so that nonprofits can make use of the PPP loan's new expansion.

COVID-19 is creating an evolving situation with varied impacts around the world and across the United States. Americans are looking for ways to help others who have been impacted by the virus, and many can do that through a nonprofit organization. Medical, disaster relief and housing-based nonprofits are well-positioned to support relief efforts for the COVID-19 coronavirus; however, nonprofits from other sectors have increased their support or redirected funds to create opportunities to provide immediate help.

The Health and Economic Recovery Omnibus Emergency Solutions Act (HEROES Act) is a $3 trillion proposal for sweeping relief during the coronavirus pandemic. This legislation promises a second stimulus check, debt relief, student loan forgiveness, hazard pay, six more months of COVID-19 unemployment, housing and food assistance, and nearly $1 trillion in aid for state and local governments so they can pay vital workers at risk for losing their jobs due to budget shortfalls.

The Federal Reserve Chairman Jerome Powell said that "Nonprofits provide vital services across the country and employ millions of Americans. We have listened carefully and adapted our approach so that we support them in carrying out their vital mission during this extraordinary time."

On Friday, July 18th, the Federal Reserve has announced that it has extended the Main Street Lending Program to nonprofit organizations.

Nonprofit organizations are facing historic challenges during the COVID-19 pandemic. Some nonprofits are well-positioned to help those impacted by the virus. Organizations with missions that do not directly relate to COVID-19 relief, however, confront hardship as they work to secure financial support while continuing to serve their communities.

Knowing all the details about the program that needs funding is necessary. Remember that, following the instructions in the RFP, is more important than the writing style. It is also advised to elaborate and start running a program with small donations before applying for grants.

For grants to be productive as well as efficient, nonprofits must resist seeing their grant programs as the lottery. A great program officer must know that the construction and execution of a reliable program come first and then followed by the grants. Most grants that have been awarded are well-illustrated representations of existing or envisioned substantial programs and services.