United Way of Southeast Louisiana supports the stability and well-being of our region, which makes us especially concerned about Coronavirus Disease 2019’s (COVID19) progression here at home. Below is a regularly-updated list of community resources and trustworthy information links related to COVID-19 for our collaborative partners and partner agencies working during this time.
Federal Cares Act – prepare your Paycheck Protection Program application now!
Key urgent action item: Under the Act is a Small Business Loan program that provides loans to cover payroll and other overhead expenses (Paycheck Protection Program). The loans will be forgiven at the end of the year if the generous conditions are met. For the largest nonprofits, this program could provide several million dollars in operating overhead. But even for a smaller organization with a $50,000 total payroll, this could mean $10,000.
All nonprofits that have a payroll are encouraged to act quickly to take advantage of this loan.
- First come, first served! There is a $349 billion pool of funds for these loans, but we will all be racing against hundreds of thousands of for-profit small businesses and other nonprofits. These funds will be exhausted, and we want to be at the front of the line.
- This is the link to the application: https://content.sba.gov/sites/default/files/2020-04/Paycheck-Protection-Program-Application-Fillable.pdf
- The application needs to be submitted through an approved Small Business Administration lender, starting today, April 3.
- If you have not done so already, you should be in contact with the bank you plan to use so you can submit the application as soon as possible, and the bank can advise on their process for processing applications.
- Be prepared to provide documentation the following documentation:
- Completed Paycheck Protection Program Application
- Articles of Incorporation/Organization
- Certificate of Good Standing
- IRS Form 944 Year End 2019
- IRS Form 941 for all of 2019 and March 2020
- Monthly Payroll Summary Report for each pay period in 2019 (report should include gross wages including PTO) including:
- Payroll Summary Report January -March 2020 by month and for the payroll immediately preceding the origination of the SBA Loan.
- Documentation reflecting health insurance premiums paid by the company under a group health plan including owners of the company for 2019 and for January – March 2020
- Documentation of all retirement plan funding by the employer for 2019 and January –March 2020
- 1099’s (If you are an Independent Contractor
- Copies of Driver’s Licenses for all Owners
If you have technical and specific questions, your bank will be the best place to turn to for answers.
- Additional Grant Opportunities
- Here is a COVID-19 Related Funding list from GrantStation that you may want to continually check for opportunities that may align with local partners and their work as it relates to this pandemic.
- $300 Universal Charitable Deduction
- Second, the CARES Act creates a $300 "nonitemizer" deduction for 2020. For most United Ways our average donation from individuals is less than $300. While we are going to continue to seek a larger and permanent nonitemizer deduction, the new deduction is tailor-made for our workplace and digital fundraising efforts. I urge you to immediately incorporate this $300 deduction to your donor asks and promotional materials.
- The deduction:
- Is in full effect as of Friday and will apply to donations made for all of 2020
- Only for people who do not itemize their taxes
- Donors who itemize their taxes are eligible for the existing charitable deduction
- Only for cash donations (not in kind)
- Can be used by the charity for any purpose (not limited to COVID-19 relief efforts)
External Resources for Covid-19 Response:
- Independent Sector:
- Paycheck Protection Program:
- US Chamber of Commerce: Coronavirus Emergency Loans Guide and Checklist for Small Businesses and Nonprofits
- Stimulus Checks:
- IRS homepage for updated info and FAQs: https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
- National Women’s Law Center: COVID-19 “Recovery Rebates” Fact Sheet
- Washington Post: “Recovery Rebates” aka stimulus cash support payments calculator and FAQ
- Unemployment Insurance Changes:
- Seattle Times: FAQ on “Recovery Rebates” and Unemployment Insurance Changes
- Emergency FMLA & Sick Leave:
- Check with your broker or provider.
- Guidance from Department of Labor: https://www.dol.gov/agencies/whd/pandemic
- Guidance from SHRM with FAQs
- Guidance from HR Dive with FAQs
United Way of Southeast Louisiana supports the stability and well-being of our region, which makes us especially concerned about Coronavirus Disease 2019’s (COVID19) progression here at home. Click here to view our regularly-updated list of community resources and trustworthy information links related to COVID-19.