The Foraker Group

Posted Under: COVID

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A global pandemic – a childcare/educational crisis – escalating economic loss – a sector under siege or boarded up while adapting to the needs of our communities. This is beyond the disasters that Alaskans know of like earthquakes, floods, and fires. These disasters come quickly, leaving us devastated, but a clear path forward soon emerges. Our current crisis is the longest marathon at sprint pace most of us have known. Adjusting is an understatement. Recovery is a faraway place as we live in the here and now and do our best to put the puzzle pieces of relief together.

What we know is that as a sector we are the safety net. We are fire service, childcare, and food security. We are human support. We are human spirit. We are essential to the economy. These are the messages we are all sharing, and I know that many of us are not sure how it will end. There are staggering stories like this one in the New York Times, which highlights our partners at the National Council of Nonprofits, and shows us what it is like outside. Or this one from the Nonprofit Quarterly that focuses on layoffs in the sector and found that 1.6 million nonprofit employees lost their jobs in the three months from March through May.

We see signs of these losses here in Alaska, too. And, still, we also see signs of you taking charge and seeking support in many ways so you can continue to serve your missions. (We thank our local governments for making specific and easily accessed grant programs to help you.) We are grateful, too, that you are accessing our COVID-19 relief page as a trusted, up-to-date source of information, and that you’re attending our rapid relief webinars in record numbers. Know that we are working in as many ways as we can to ensure you will thrive not just survive in this new reality.

We are also thankful to our friends at the University of Alaska Center for Economic Development who crunched a few extra numbers for us on how nonprofits accessed the first round of PPP, and we share that data with you below. We know this program was not an option for many of you, but it does give us a sliver of understanding. If you want to see their full report that goes beyond the sector go here.

Data on Alaska’s nonprofit access to the first round of PPP

Nonprofit org?	Number of Small Loans (under 150K)	Number of Large Loans (over 150K)	Total Loans	%
Yes	433	125	558	5%
No	9082	1527	10609	95%

 

Top 10 Nonprofit Recipient by North American Industry Classification System (NAICS)

NAICS Description	Number of Loans
Religious Organizations	142
Civic and Social Organizations	89
Educational Support Services	16
Other Individual and Family Services	15
Environment, Conservation and Wildlife Organizations	14
Child Day Care Services	13
Museums	13
All Other Outpatient Care Centers	11
Elementary and Secondary Schools	11
Other Social Advocacy Organizations	11

 

We are grateful to Alaska’s banks and credit unions for stepping up to help Alaska’s nonprofits. Top 10 access points:

Lender	Number of Loans
First National Bank Alaska	153
Northrim Bank	119
Wells Fargo Bank, National Association	70
Alaska USA FCU	42
Mt. McKinley Bank	39
First Bank	37
Denali State Bank	28
Matanuska Valley FCU	17
KeyBank National Association	16
Celtic Bank Corporation	4

 

Very soon we will launch another statewide survey so we can learn more about COVID’s impact on the sector. We hope you will participate and share your experiences. But more importantly, if you are struggling right now, please reach out to us. We truly believe that asking for support is a sign of strength. We are ready to practice “we care” with you not just hope you are finding some self-care. We are ready with new offers and new ways of leaning in. Let’s navigate this unimaginable journey together.