Coronavirus & Nonprofits | Cg Tax, Audit & Advisory

07 Jun

Making the Decision to Hire New Nonprofit Team Members

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June 2, 2021

Many Americans remain unemployed due to the COVID-19 pandemic — at least 9.8 million at the end of April, according to the U.S. Bureau of Labor Statistics. But that’s expected to change quickly as...

23 Apr

Coronavirus & Nonprofits, SBA

NJEDA Announces Small Business Emergency Assistance Grant Phase 4

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April 23, 2021

The New Jersey Economic Development Authority (NJEDA) announced another phase of its Small Business Emergency Assistance Grant Program, providing grants up to $20,000 to small and medium-sized businesses (nonprofits included) negatively impacted by the...

08 Mar

Coronavirus & Nonprofits, Nonprofit

Rebuilding Your Nonprofit’s Operating Reserves

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March 5, 2021

Events of the past year put a dent in many nonprofits' reserves. Perhaps you tapped this stash to buy personal protective equipment or to pay team member salaries when your budget no longer proved...

23 Feb

Coronavirus & Nonprofits, Individual Tax

Did You Make Donations in 2020? There’s Still Time to Get Substantiation

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February 16, 2021

If you’re like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2020 donations. But what happens if you haven’t received such a letter — can you still...

29 Jan

Coronavirus & Nonprofits, Nonprofit

Will Permanent Work-From-Home Work for Your Nonprofit?

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January 28, 2021

It’s been almost a year since many nonprofit organizations sent team members home — to work remotely. For many nonprofits and employees, remote work has been a positive experience. And as the pandemic fades,...

04 Dec

Coronavirus & Nonprofits, Nonprofit

Nonprofit Boards Must Remain Vigilant as Long as the Crisis Continues

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December 2, 2020

It’s been a tough year for nonprofits. Many have experienced an increased demand for services just as revenues have plummeted. Until the COVID-19 pandemic is over, your organization’s board of directors will likely play...

29 Oct

Coronavirus & Nonprofits, Nonprofit

Nonprofits: Internal Audits Still Matter

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October 28, 2020

Fraud doesn’t simply take a vacation during crises, such as the COVID-19 pandemic. If your nonprofit’s internal controls aren’t effective, scammers can find ways to exploit them and steal from your organization — even...

01 Sep

Coronavirus & Nonprofits, Coronavirus Tax Filing & Payment, Federal Tax

2020 Form 1040 Draft

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August 31, 2020

The IRS has issued a draft of the 2020 Form 1040 that allows taxpayers to claim the new charitable contribution deduction. Under the CARES Act, taxpayers who don’t itemize their deductions can take a...

30 Jul

Coronavirus & Nonprofits, Helpful COVID-19 Links

Monmouth County Announces CARES Economic Assistance Grant Program

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July 30, 2020

The Monmouth County CARES Economic Assistance Grant Program provides financial support up to $10,000 for those qualifying businesses, business owners, and nonprofits that do not exceed $5 million in annual gross revenue and have...

24 Jul

Coronavirus & Nonprofits, Nonprofit

Main Street Lending Program Now Open to Nonprofit Applicants

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July 23, 2020

Last week, the Federal Reserve announced that nonprofit organizations now may apply for loans under the $600 billion Main Street Lending Program. Previously open only to for-profit businesses with more than 100 employees, the...

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