federal covid-19 bills & new york’s nonprofits · 2020-04-03 · federal covid-19 phases...
TRANSCRIPT
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Federal COVID-19 Bills & New York’s NonprofitsFinancial relief, new employer requirements,
and where to go next
April 3, 20201 pm - 2 pm
Webinar
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Welcome Chai Jindasurat, Policy Director, Nonprofit New York
Doug Sauer, CEO and Michael West, Senior Attorney, New York Council of NonprofitsDavid Thompson, Vice President of Public Policy, National Council of Nonprofits
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Agenda
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01 Resources
02 Federal COVID-19 Phases
Families First Coronavirus Response Act
CARES Act
03 New York State & City Actions
04 Questions
05 Ongoing Support & Engagement
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Resources
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Resources
Federal COVID-19 Bills & New York’s Nonprofits
Pages
Nonprofit New York:
COVID-19 Updates
NYCON:COVID-19 Resources for Nonprofits
National Council of Nonprofits:Nonprofits and Coronavirus, COVID-19
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Disclaimer
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Disclaimer
Federal COVID-19 Bills & New York’s Nonprofits
All participants are muted. If you have a question at any point during the session, please type it into the Q&A box and it will be addressed by the presenters.
Disclaimer
Our Best Understanding
Based on preliminary guidance
Details are changing by the hour
Not Legal or Financial Advice
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Federal COVID-19 PhasesCongressional Action
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Federal COVID-19 Phases
Federal COVID-19 Bills & New York’s Nonprofits
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Phase 1: Coronavirus Preparedness and Response Supplemental Appropriations Act
Phase 2: Families First Act (FFCRA), Public Law 116-127
Phase 3: CARES Act, Public Law 116-136
Phase 4: ?
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Families First Act (FFCRA)Public Law 116-127
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Families First Act (FFCRA), Public Law 116-127
Federal COVID-19 Bills & New York’s Nonprofits
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Paid Leave Requirements
● Employer Size: Fewer than 500
● Effective: April 1, 2020
● Expires: Dec. 31, 2020
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Families First Act (FFCRA), Public Law 116-127
Federal COVID-19 Bills & New York’s Nonprofits
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Paid Leave Requirements
Two weeks of emergency paid sick leave
Employee Leave:
● Can’t work or telework due to quarantine or isolation, advice to quarantine, or COVID-19 symptoms.
● Regular Pay○ Up to $511/day○ Up to $5,110 over entire sick period
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Families First Act (FFCRA), Public Law 116-127
Federal COVID-19 Bills & New York’s Nonprofits
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Paid Leave Requirements
Two weeks of emergency paid sick leave
Family Leave:
● Caring for quarantined individual, child due to school closure, childcare provider unavailable
● 2/3rds Pay○ Up to $200/day○ Up to $2,000 total over entire sick period
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Families First Act (FFCRA), Public Law 116-127
Federal COVID-19 Bills & New York’s Nonprofits
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Paid Leave Requirements
10 Weeks Emergency Family & Medical Leave
● School closure, job protections, exceptions for hardship● Pay - ⅔ pay up to $200/day
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Families First Act (FFCRA), Public Law 116-127
Federal COVID-19 Bills & New York’s Nonprofits
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Paid Leave Requirements
Closure of Worksite
● Cancels paid leave requirement● Employees likely eligible for UI
See DOL Guidance:
https://www.dol.gov/agencies/whd/pandemic/ffcraquestions (March 27, 2020)
https://www.dol.gov/sites/dolgov/files/WHD/Pandemic/FFCRA.pdf (April 1, 2020)
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Families First Act (FFCRA), Public Law 116-127
Federal COVID-19 Bills & New York’s Nonprofits
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Refundable Payroll Tax Credits
● Applicable to Employer Share of Payroll Taxes
● Refundable: Leave costs exceeding payroll taxes owed will be refundable to the
employer at the end of each quarter
● IRS Form 941
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CARES ActPublic Law 116-136
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CARES Act, Public Law 116-136
Federal COVID-19 Bills & New York’s Nonprofits
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Loans for NonprofitsPaycheck Protection Program
● 500 or fewer employees● 2.5 x monthly payroll● Use for payroll, benefits, mortgage,
utilities, debt
● Apply through local banks● Available April 3 through June 30● Loan forgiveness provisions
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CARES Act, Public Law 116-136
Federal COVID-19 Bills & New York’s Nonprofits
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Loans for NonprofitsEconomic Injury Disaster Loans
Normal
● Who is eligible: private nonprofits● Loan amount: $2m● How to apply: SBA online● Available: through Dec. 31● not forgiven
Emergency grants
● Who is eligible: private nonprofits● Loan amount: $10K in 3 days● How to apply: SBA online● Available: through Dec. 31● $10,000 in 3 days
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CARES Act, Public Law 116-136
Federal COVID-19 Bills & New York’s Nonprofits
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Loans for NonprofitsMid-size Business Loan Program
● Who is eligible: 500 - 10,000 employees● Loan amount: unclear amount● Loan use: retain 90% of staff● How to apply: unclear ● Available: through Dec. 31
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CARES Act, Public Law 116-136
Federal COVID-19 Bills & New York’s Nonprofits
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Above the Line Deduction
● $300 donation in 2020 tax year● Lift AGI cap (for itemizers)● Corporate donations
○ Raises cap to 25% of taxable income○ Raises food donation cap to 25%
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CARES Act, Public Law 116-136
Federal COVID-19 Bills & New York’s Nonprofits
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Employee Retention Tax Credit
● Refundable payroll tax credit● $5K/employee/year● Whole or partial shutdown, 50% drop in revenue● PPP employers ineligible● Advance payment of credit available using new IRS Form 7200
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CARES Act, Public Law 116-136
Federal COVID-19 Bills & New York’s Nonprofits
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Payroll tax deferral
DeferralAllows delayed payment of the employer portion payroll taxes in 2020
Repayment● Half by 12/31/2021● Half by 12/31/2022
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CARES Act, Public Law 116-136
Federal COVID-19 Bills & New York’s Nonprofits
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Unemployment Insurance
Individuals● waives waiting period, extends 13 weeks● $600/week more than state benefit● Uninsured - church employees - covered
Employers● most held harmless● Self-insured covered 50%
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CARES Act, Public Law 116-136
Federal COVID-19 Bills & New York’s Nonprofits
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Student Loans
● Forbearance through 9/30/20 automatic● 0% interest rate through 9/30/20● Wage garnishment and debt collection stopped
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New York State & City Actions
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New York State & City Actions
Federal COVID-19 Bills & New York’s Nonprofits
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New York StateExpanded Paid Sick Leave (A9506-B/S7506-B)(not reimbursed)
Employers with● 10 or fewer employees + $1M income: 5 days● 5-99 employees: 5 days● 100+ employees: 7 days● This definition includes domestic violence
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New York State & City Actions
Federal COVID-19 Bills & New York’s Nonprofits
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New York CityEmployee Grant Retention Program● Deadline today● Through SBS● Cap of five employees
Existing Paid Sick Leave (not reimbursed)● Employers with
○ Five or less employees five days unpaid○ Five or more employees five days paid
https://www1.nyc.gov/site/dca/about/paid-sick-leave-law.page
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New York State & City Actions
Federal COVID-19 Bills & New York’s Nonprofits
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It is our understanding that Federal and State cannot be combined*, but City leave can be combined.
*Awaiting guidance from the State Labor Department
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QuestionsPlease use the Q&A function
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Further Resources & Support
Federal COVID-19 Bills & New York’s Nonprofits
Loans: Loans Available for Nonprofits in the CARES Act
PPP Application: Paycheck Protection Program Application
Nonprofit Quarterly
How Nonprofits Can Utilize the New Federal Laws Dealing with COVID-19
Cutting Through the Jargon: How the CARES Act Works for Nonprofits
Analysis of the Families First Coronavirus Response Act, National Council of Nonprofits
Initial Analysis of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
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Thanks for joining us.
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