Greater Twin Cities United Way is committed to helping our nonprofit partners navigate through this COVID-19 pandemic and wants to highlight a significant piece of legislation recently enacted by U.S. Congress to assist individuals and organizations affected by the COVID-19 pandemic: the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
Coronavirus Aid, Relief, and Economic Security Act (CARES Act):
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is a $2 trillion relief bill establishing provisions to aid nonprofits, including, emergency small business loans, economic injury disaster loans, payroll tax credits for employee retention, and expansion of the charitable contribution deduction for taxpayers. A key provision of the CARES Act is the Paycheck Protection Program.
Greater Twin Cities United Way's nonprofit partners page has COVID-19 related information and updates. And here are some other organizations serving nonprofits who are providing resources and relevant webinars:
The federal CARES Act also has other disaster loan and employee credit programs that may be helpful to consider.
Families First Coronavirus Response Act (FFCA):
Families First Coronavirus Response Act (FFCA) took effect April 1, 2020. This legislation provides two key benefits to employees: Emergency FMLA and Emergency Sick Leave; specific regulations to fully implement the new law are still being developed. Emergency FMLA provides 12 weeks of FMLA leave (10 weeks paid) to employees who cannot work or telework because they are needed to care for a child due to school or daycare closures. Emergency Sick Leave provides up to 80 hours of paid sick leave for full time employees if they are unable to work or telework due to COVID-19.
Below is additional information from the U.S. Department of Labor summarizing these benefits and a poster you can print and post for your employees/partners.
For more information about the CARES Act and the Paycheck Protection Program, follow this link to the U.S. Department of the Treasury.