PPP Forgiveness: Navigating Complexities for Nonprofits

Businesswoman Going Over Financial Plans with Couple
  • 10/27/2020
  • Webinar
  • Speaking

9:30 - 10:15 a.m. CT

Jennifer Witts and Kelsey Vatsaas join The Horton Group for a webinar to discuss the Paycheck Protection Program (PPP), how it affects nonprofits, and what nonprofits can do when it comes to forgiveness.

  • Timelines for forgiveness
    • Alternative Payroll dates
    • 8 weeks vs. 24 weeks
    • 10 months to apply for forgiveness
    • 60 days for banks and 90 days for SBA to approve
    • If and when the $150k threshold will be decided
  • Tests and Safe Harbors
  • EZ form vs. Standard form
  • Documentation 
    • Original loan documents
    • Payroll summaries
    • 941
    • Bank statements
    • Bills/receipts
  • Nonprofit restricted funds consideration
  • Nonprofit accounting (advanced contributions)

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