CARES Act: How to Apply for Nonprofit Relief Funds
Independent Sector teamed up with Washington Council Ernst & Young, a DC-based lobbying firm with deep expertise in the nonprofit sector, and Sheppard Mullin, a national full-service law firm with a dedicated Nonprofit Team to provide a resource on how the CARES Act will apply to your nonprofit and how to move forward filing for assistance. Click here for more.
Paycheck Protection Program
The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses (including nonprofits!!) to pay their employees during the COVID-19 crisis. Your organization may receive up to two months of payroll costs plus 25%. Applications open April 3, 2020, and the full amount is expected to be depleted rapidly. We recommend you contact your bank today to to start the process.
Click here for a PPP Borrower Information Sheet
Click here for a list of active SBA Lenders in Arizona
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (S. 748) provides significant funding for businesses, hospitals, schools, and social support programs, among many other things. Click here to read an initial analysis of the nearly 900-page bill by the National Council of Nonprofits.
Loans for Nonprofits
Community Investment Corporation (CIC) is offering loans through a nonprofit partnership with “enhanced community benefit” rates which can be as low as 1.5% depending upon qualification. Loan terms will be extended out to 5 years as needed. CIC will also be offering a loan product with interest only payments for up to 6 months to allow small businesses to recover from the economic challenges caused by COVID-19. You can also contact Community Investment Corporation 520-529-1766 to learn more about their current loan offerings.
Growth Partners Arizona also offers affordable and flexible Nonprofit Loans . Traditionally, GPAz has supported 1) program expansion, 2) social enterprises, and 3) cash flow gaps while nonprofits await, for example: donations, membership/subscription fees, conclusion of major fundraising campaigns, grants or other reimbursements.
The CARES Act gives eligible nonprofits choices for securing cash needed to maintain staff and operations. Use this chart to decide which loan is right for your organization; this chart is regularly updated as resources become available so check back often.
Grant Opportunities through CFSA
The Community Foundation for Southern Arizona has established two funds to support our nonprofit partners during this difficult time. Please click here to learn more and apply.
CFSA’s COVID-19 Community Support Fund
The COVID-19 Community Support Fund provides flexible resources to southern Arizona nonprofit organizations that are serving individuals and families impacted by this outbreak. The COVID-19 crisis will be felt throughout our community for months to come and this fund offers long-term assistance to those most affected.
The COVID-19 Community Support Fund is designed to complement other available resources and to expand our local capacity to address the needs of vulnerable populations disproportionately stressed by the outbreak.
Funds will be distributed to nonprofit organizations serving Arizona’s most vulnerable with a focus on providing basic human needs and access to healthcare to affected populations, including low-income individuals, residents without access to healthcare, older adults, health care workers, first responders, LGBTQ+ individuals, disabled residents and communities of color. Funds may be available for other populations and needs as they emerge.
CFSA’s COVID-19 Nonprofit Event Relief Fund
The COVID-19 virus has caused many nonprofit organizations in southern Arizona to cancel fundraising events this spring. These events provide essential financial support for nonprofits to deliver their mission throughout the year. The COVID-19 Nonprofit Event Relief Fund provides a one-time grant award to organizations that, due to COVID-19, have had to cancel critical fundraising events and programming, resulting in a significant hardship on the organization. This general operating support grant can replace lost revenue and non-recoverable expenses.
Additional Grant Opportunities
- The Arizona COVID-19 Community Response Fund was established by the Arizona Community Foundation, in partnership with a growing list of local corporations and foundations, to support nonprofit organizations across the state as they respond to the impact of COVID-19 within our community.
- The Arts Foundation for Tucson and Southern Arizona recently opened a new grant for artists and nonprofit art organizations affected by COVID-19. Click here for more information on the Pivot Grant.