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CARE Act 101 for Churches CARE Act 101 for Churches

CARE Act 101 for Churches - PowerPoint Presentation

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Uploaded On 2021-01-27

CARE Act 101 for Churches - PPT Presentation

North Carolina Center for Nonprofits David Heinen North Carolina Center for Nonprofits North Carolina Center for Nonprofits Connect Learn Advocate Important Disclaimers North Carolina Center ID: 830169

center nonprofits north carolina nonprofits center carolina north unemployment survey act resources individuals cares ncnonprofits charitable benefits federal state

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Presentation Transcript

Slide1

CARE Act 101 for Churches

North Carolina Center

for

Nonprofits

David Heinen

North Carolina Center

for

Nonprofits

Slide2

North Carolina Center

for

Nonprofits

Connect

Learn

Advocate

Slide3

Important Disclaimers

North Carolina Center

for

Nonprofits

If you can read this fine print, you are sitting too close to your screen!

Slide4

Nonprofits’ needs and resources

North Carolina Center

for

Nonprofits

Slide5

Center survey of nonprofits

About 700 responses from 70+ countiesSharing big picture needs and data with funders, Governor’s Office, members of Congress, and legislative leadership

Goal is to get nonprofits the help they need and to tell nonprofits’ stories

North Carolina Center

for

Nonprofits

Slide6

Center survey of nonprofits

North Carolina Center

for

Nonprofits

Slide7

Center survey of nonprofits

North Carolina Center

for

Nonprofits

Slide8

Center survey of nonprofits

North Carolina Center

for

Nonprofits

Slide9

Center survey of nonprofits

North Carolina Center

for

Nonprofits

Slide10

Resources to help nonprofits and individuals

Federal government (can take on debt)Paid leave (and reimbursement for nonprofits)

Emergency loans and grantsFlexibility on grant/contract requirements

Tax relief (individuals and nonprofits)

North Carolina Center

for

Nonprofits

Slide11

Resources to help nonprofits and individuals

Federal and state government ($3.9 billion in UITF)Unemployment benefits (individuals and nonprofits

)State government (about $3 billion in available funds)

Grant/contract reliefTax reliefCSL relief

North Carolina Center

for

Nonprofits

Slide12

Resources to help nonprofits and individuals

Private funders ($10 billion in assets)Funding flexibility - general operating support

Some ability to meet specific new needs

Collaboration among fundersUsing the Center’s survey to help match funders with needs

North Carolina Center

for

Nonprofits

Slide13

Hundreds of resources available

www.ncnonprofits.org/resources/pandemicresources

North Carolina Center

for

Nonprofits

Slide14

CARES Act and Churches

North Carolina Center

for

Nonprofits

Slide15

CARES Act – Major Provisions

Direct payments to

Americans - $1,200 per adult and $500 per child ($3,400 for a family of four

)Various emergency unemployment benefitsEmergency loans and grants for nonprofits and businesses

Special appropriations

North Carolina Center

for

Nonprofits

Slide16

Unemployment – 1-minute overview

Options for nonprofitsPay state unemployment tax (SUTA) – based on experience rating

Self-insure instead of paying SUTA – must reimburse UI Trust Fund for UI claims of nonprofit’s employees

Exempt from SUTA – churches, religious nonprofits, and 501(c)(3)s with fewer than four employees – no UI benefits

North Carolina Center

for

Nonprofits

Slide17

CARES Act – Unemployment

Expanded individual benefitsPandemic Unemployment Assistance – available to workers not usually covered by UI, including some nonprofit workers

$600 per week supplemental benefits for four months

Extension of UI benefits by 13 weeksWaiver of one-week waiting periodMust be administered by states – no guidance yet from DES

North Carolina Center

for

Nonprofits

Slide18

CARES Act – Unemployment

Self-insured nonprofitsProvides federal funds to pay for

half of costs of COVID-19 related UI claims

States still need to take action to accept this provisionStill a significant gap, which could be a major expense for many nonprofitsPossible federal or state support to cover this gap

North Carolina Center

for

Nonprofits

Slide19

CARES Act – Charitable Giving

Above-the-line charitable deduction capped at $300No AGI limit on charitable contributions deductible as itemized deductions

Increase in corporate charitable limit from 10% to 25%

Corporate deductibility of food donations up to 25%

North Carolina Center

for

Nonprofits

Slide20

For more information

North Carolina Center for Nonprofitswww.ncnonprofits.org

919-790-1555@ncnonprofits

David HeinenVice President for Public Policy and Advocacydheinen@ncnonprofits.org@drheinen

North Carolina Center

for

Nonprofits