Category: Coronavirus Updates

Although most not-for-profits have been hurt by the coronavirus (COVID-19) pandemic, your organization’s specific challenges probably depend on your mission, constituency and other factors. For example, social distancing rules have forced most arts organization to temporar...

The Small Business Administration released these Frequently Asked Questions regarding participation of Faith-Based Organizations in the PPP and EIDL loan programs.  These FAQs may help clarify some of the areas that had been unclear.  Not that everything is crystal clear n...

Navigating the SBA Loan Process Webinar Overview:  In this webinar from April 3, 2020 a panel of Boyum Barenscheer CPAs discuss the process of applying for SBA loans including PPP loans....

In this COVID-19 preparedness webinar from April 1, 2020, five Boyum Barenscheer partners discuss the issues impacting Minnesota businesses.  This webinar focused on three primary areas: Practical advice for navigating business cash flow needs and the new loans available, u...

On March 27, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law.  CARES Act offers new hope for cash-strapped nonprofits.  How is this massive $2 trillion recovery package poised to help your not-for-profit organization? It depends on your g...

As I put together this document of the timeline, summaries and resources for you, I wanted to share what message I printed out and shared with my daughters as they start their first day at home of flex learning: Don’t Stress, Do Your Best, Forget the Rest...

Scam artists know how anxious business owners are so now there are COVID fraud threats to vulnerable businesses. They know that as you struggle to meet customer demands, pay employees and stay solvent, you’re more likely to drop your guard and fall for a fraud scheme. The ...

Like the coronavirus (COVID-19) pathogen itself, incidents of COVID-19 fraud are surging and financial losses are piling up. The Federal Trade Commission (FTC) reports that the number of 2020 COVID-19-related complaints doubled in just one recent week. As of March 31, losses...

The COVID-19 generated CARES Act contains provisions for retirement plan distributions and qualified individuals affected by the coronavirus. Details follow on each of these 5 provisions....

The CARES Act, created due to the COVID-19 pandemic, addresses some educational related provisions designed to assist in student loan payments.  These provisions include suspensions of payments and some canceling of debt. Here are some details:...

Due to the COVID-19 pandemic and its affects on small businesses, the SBA now has two loans available to help your small business through these unusual and trying times.  Here is a quick summary on the Economic Injury Disaster Loan and the Paycheck Protection Loan....

There is a ton of information coming at everyone from many different directions about new laws and resources that have recently surfaced due to the COVID-19 pandemic and its economic effects. My goal in this blog is to summarize the information that is relevant to nonprofit ...