There are several updates to COVID-19 relief funds that may impact your nonprofit:
In mid-June, the state announced that the AK CARES grant eligibility would be expanded to businesses and nonprofits receiving $5,000 or less in PPP or EIDL funds. In addition, they announced that AK CARES would be opening up to 501(c)(6) entities. So far, those changes have not been implemented. We are monitoring the situation and will continue to keep you updated.
On the federal side, the Paycheck Protection Program has reopened. The new deadline to apply for a PPP loan is August 8, 2020. As PPP borrowers prepare to apply for forgiveness, the SBA recommends using the EZ application if possible. (Borrowers may qualify to use the EZ form if they were able to maintain staffing/levels salaries or if staffing levels changed because of regulations imposed by DHHS, CDC, or OSHA. See EZ form instructions for eligibility.) Foraker can assist you with your questions. Learn more here.
Local governments and tribes are in the midst of distributing funds to their communities. Many local government plans include nonprofits. We strongly encourage you to look for local funding opportunities. If you need help accessing them, please give us a call.
There are still a number of philanthropic opportunities for nonprofits accessing relief. We continue to expect more of those options to emerge. We will keep you informed as we learn about those options.