News & Analysis as of

Charitable Organizations CARES Act

Proskauer - Not for Profit/Exempt...

Proskauer’s 26th Annual Trick or Treat Seminar

Proskauer’s 26th Annual Trick or Treat Seminar was held virtually on Friday, October 29th and discussed timely topics and best practices specifically tailored to the not-for-profit community. ...more

Bowditch & Dewey

Extension of CARES Act Incentives Relating to Charitable Giving: Planning with a Charitable Unitrust Remainder Trust (CRUT)

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By using a Charitable Unitrust Remainder Trust (CRUT), philanthropic minded donors can gift to a charitable cause while maintaining a lifetime benefit. A CRUT is an irrevocable agreement that will provide an income stream to...more

Schwabe, Williamson & Wyatt PC

Extension of Charitable Giving Benefits under the CARES Act for 2021

Starting in 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) expanded the deductibility of charitable contributions to incentivize charitable giving during 2020. The Consolidated Appropriations...more

Foley & Lardner LLP

Charitable Planning In the Year of a Business Sale – Part 1 of 2

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Business owners who work hard to grow a business and sell it (hopefully, with a substantial windfall) oftentimes focus on philanthropy and making a difference with their new-found wealth. Successful sellers usually recognize...more

Goodwin

The Consolidated Appropriations Act Of 2021: An Update For Tax-Exempt Organizations

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On December 27, 2020, “The Consolidated Appropriations Act of 2021” (H.R. 133) (the “CAA”) was signed into law by the President. The CAA includes various updates to, and additional funding for, programs established under the...more

Troutman Pepper

How to Free Up Access to Employer Assets and/or Ease Employee Access to Vested Benefits During COVID-19

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Who Needs to Know - Employers and Employees Impacted by COVID-19. Why It Matters - Employers and employees alike continue to feel the impact of the COVID-19 pandemic. Despite a variety of tax incentives, employers may...more

Troutman Pepper

PROVIDING COVID-19 FINANCIAL RELIEF: How to Free Up Access to Employer Assets and/or Ease Employee Access to Vested Benefits

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Q. Are there any COVID-related tax incentives that could benefit employers and employees?...more

Perkins Coie

The CARES Act: Key Loan and Grant Programs for Nonprofit Organizations (Update)

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Certification That Funds Are “Necessary” - Following recent press and new guidance from the Small Business Administration (SBA), many nonprofit organizations are carefully considering whether borrowing funds under the...more

Ruder Ware

Charitable Giving in the Age of COVID-19

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As many churches in our area celebrated Easter in their parking lots or over video recordings, we cannot help but think what impact the coronavirus is having on not just churches but other local nonprofit organizations in our...more

Latham & Watkins LLP

The CARES Act: Helping the Nonprofit Sector Care for Communities During COVID-19

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Nonprofits now have a number of options to navigate doing business in the midst of COVID-19. On March 27, 2020, President Donald J. Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act),...more

Perkins Coie

The CARES Act: Key Loan and Grant Programs for Nonprofit Organizations

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The recently-enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act expands nonprofits’ access to critical federal loan and grant programs as part of its approximately $2 trillion aid package addressing the...more

Proskauer - Tax Talks

The FFCRA and CARES Act: Key Provisions Affecting Nonprofit Organizations

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On March 18, 2020, President Trump signed into law the Families First Coronavirus Response Act (“FFCRA”) (H.R. 6201), and on March 27, 2020, he signed into law the Coronavirus Aid, Relief, and Economic Security Act (the...more

Seyfarth Shaw LLP

Nonprofit Guide to the CARES Act (Including Those Loans You’ve Been Hearing About to Cover Payroll and That Don’t Need to Be Paid...

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The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) became law on March 27, 2020, and is designed to assist nearly every facet of the American economy, including the charitable sector. One highlight is the...more

Davis Wright Tremaine LLP

Relief Available to Nonprofits Under the CARES Act

The Coronavirus Aid, Relief, and Economic Security Act (the Act), the largest federal relief package in U.S. history, was signed into law on March 27, 2020, in an attempt to counteract the disruption to the economy caused by...more

McGuireWoods LLP

CARES Act Provides Tax Relief to Encourage Charitable Giving in 2020

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Charitable organizations, like many for-profit businesses, are facing significant hardships due to the COVID-19 pandemic. Recognizing that individuals and businesses want to support charities in these times of need, lawmakers...more

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