August 2020
Nonprofit organizations have been sharply focused on filing applications for loans and grants available under the CARES Act. Given the urgency of the COVID-19 crisis, the application process was streamlined and fewer financial documents were required as compared to the normal loan application process.
New financial reporting guidance is beginning to appear for loan forgiveness and interim reporting purposes. Nonprofits should work closely with their accountants and finance teams to complete all documents required to meet reporting deadlines for these relief programs.
View the full article here.
