Federal Reserve Contemplates Main Street Lending Program Eligibility for Nonprofit Organizations

On June 15, 2020, the Federal Reserve announced expanding the Main Street Lending Program (MSLP) for nonprofit organizations that are tax-exempt under section 501(c)(3) or 501(c)(19) of the Internal Revenue Code. In the press release, the Federal Reserve announced it is seeking public comment on a proposal to offer small- and medium-sized nonprofit organizations with…

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Webinar: Unpacking the Impact of COVID-19 Legislation on Non-Profits

Aprio panelists unpack the impact of the Families First Coronavirus Response Act and CARES Act on non-profit organizations, and how these new rules offer planning opportunities for non-profits to prepare for the upturn. During the webinar we discuss: Tax relief for non-profit organizations and individuals SBA loan options and how to get started New payroll…

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Why Your Business Should Establish a Corporate Foundation

Woman holding an item shaped like a heart

The Corporate Foundation: AMPLIFYING THE IMPACT OF YOUR PHILANTHROPIC INITIATIVES As the lines continue to blur between philanthropic and corporate goals, businesses continue to look for ways to increase the impact and overall strategic value of their interactions with the communities they serve. Establishing a corporate foundation is an excellent way to amplify giving and…

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The Non-profit Parking Tax Has Been Repealed

Thanks to a bipartisan effort in the U.S. House and Senate, the non-profit parking tax (commonly referred to as the “Church Parking Tax”) was repealed. The repeal was included in the $1.4 trillion spending package signed by President Trump on Dec. 20, 2019. In December of 2017, President Trump signed into law the Tax Cuts…

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Taxes on Fundraising Events: What Georgia Non-profits Must Know

Tax-exempt organizations rely on dinners, auctions and other special events to raise money and awareness. But could these activities bring penalties for tax noncompliance? All non-profits need to know about the taxes on fundraising activities in their state. So, evaluate your fundraising activities to determine if your non-profit should collect sales tax and pay it…

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