Figuring out the CARES Act can be confusing, especially for nonprofits! A big thanks to our friends at ECFA for sharing this breakdown with us.
This PDF includes discussion of:
- “Paycheck Protection Program” Loans/Grants
- Expanded Unemployment Benefits
- Deferral of Payment of Employer’s Share of Social Security Taxes
- Employee Retention Credit for Employers Subject to Closure or Substantial
- Revenue Loss
- Charitable Contribution Deduction Limits Increased
- Changes to Paid Leave and Emergency FMLA leave