The COVID-19 relief legislation signed into law in December 2020 includes some provisions that could be a boost to donors and the nonprofits they support. For example, it extends the temporary “universal charitable deduction” for taxpayers who don’t itemize their deductions through 2021. The deduction was limited to $300 for cash contributions to qualified charities…
Tag: covid
What We Know So Far About COVID Philanthropy
COVID-19 spurred more than $11.9 billion in global philanthropy in the first six months of 2020. That’s just one of the findings in the Center for Disaster Philanthropy and information service Candid’s new report, Philanthropy and COVID-19 in the first half of 2020. In this report, Candid and the Center for Disaster Philanthropy explore the…
COVID-19 Forces a Focus on Operating Costs
Troubling revenue losses COVID-19 hit nonprofits hard, fast and right where it hurts — revenues. Organizations of all kinds saw funding dry up as major events were canceled and donors held back in fear for their own financial stability. Based on surveys conducted from March through May 2020, for example, the Massachusetts Nonprofit Network found…
It’s Time to Really Pay Attention
The COVID-19 era makes board financial oversight more important than ever. The board of directors plays a special role in ensuring that an organization stays financially on track. This responsibility is magnified in the shadow of the COVID-19 crisis, which has often pushed donations and other revenue down while upping the need for services. Keeping…
Are You Covered? Potential Insurance Relief for COVID-19 Losses
The COVID-19 crisis and its economic fallout have many organizations hunting desperately for financial relief. While much has been made of the various governmental support programs, it’s also worth reviewing your insurance policy portfolio to determine if you qualify for coverage for some of your COVID-19-related losses and exposures. Below are some of the insurance…
The CARES Act: What’s in it for Nonprofits?
When Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in late March, much attention was paid to Economic Impact Payments for individuals and various types of assistance for businesses. But the 880-page law also contains some assistance that could prove critical to nonprofits as they struggle to deal with the financial impact…
Staffing During COVID: How to Operate Effectively During a Pandemic
Repost from Nicole, Rizkallah, Philanthropy Daily Covering all of your bases and maintaining an effective staff is crucial right now. Here are some tips to keep your staff functioning well during the pandemic. The greatest threat to an understaffed nonprofit is not missing out on the opportunity to grow programs or deepen donor relations. It…