Many nonprofit organizations have managed to maneuver their way through the CARES Act PPP loans. It has been a chaotic and highly frustrating process and unfortunately it is far from being over. Now that the loans are in their bank accounts, these organizations are facing other challenges: how to spend it? What is forgiven and what is not? What not do to? Should these loans be spent at all?
Download our latest checklist on PPP loan forgiveness. Please take into account that this version reflects the information we had access to by 05/29/2020.
Our suggestions are based on our general experience in non-profit management and the public information we currently have. We don’t have specific information about your organization or operations. And, as you know, economic and financial situations are changing rapidly. As such, you should not rely solely on our suggestions and should act in your own best judgment.