Side Hustling

Luckily, many nonprofits and industry groups have banded together to create funds that give additional financial assistance directly to workers in need. We’ve compiled a list below of 24 funds available for different types of industry employees nationwide. (FYI, many more funds could be available where you live or how you make a living; to search for more specific resources, especially those providing grants for medical emergencies, check out websites like  grantspace.org  and  candid.org , which have more comprehensive fund lists.) Be aware that some of the fund applications require extensive documentation, including tax documents and banking information, in order to verify you are truly in need and are an appropriate recipient for the money. But rest assured these are all legitimate operations: Each fund here is either from a registered non-profit organization or an established labor union. And if you happen to be in a good place financially and can help out, they prett...

Many of our not-for-profit clients receive loans from local, state or federal government entities. Depending on the terms and language of the promissory note, repayment can be deferred for 15 or 30 years or essentially forever. In fact, many loans to not-for-profits are forgivable loans as long as the organization’s mission aligns with the purpose and restrictions of the loan.     However, recording a loan on the books for years, even though it is deferred, may negatively impact the organization’s financial statements. It may give the impression that an organization is highly leveraged and therefore not eligible for additional financing. It could also impact Board decisions if they perceive the loans as outstanding debt.     Here are some of the accounting best practices we can share to help improve your organization’s financial position and ensure loan compliance:     • Record forgivable loans as grants: By recording the loan as a grant, it becomes a ...

As you may know right there is so many ways to boost your business, plan and make a come back. Check out just a few ways to bounce back and regain your independence during the covid-19! Main Street Lending Program The Federal Reserve established the Main Street Lending Program (Program) to support lending to small and medium-sized businesses that were in sound financial condition before the onset of the COVID-19 pandemic. The Program will operate through three facilities: the Main Street New Loan Facility (MSNLF), the Main Street Priority Loan Facility (MSPLF), and the Main Street Expanded Loan Facility (MSELF). In addition, the Federal Reserve and U.S. Department of the Treasury are seeking comment through June 22, 2020, on two facilities designed to support lending to nonprofit organizations: the Nonprofit Organization New Loan Facility (NONLF) and the Nonprofit Organization Expanded Loan Facility (NOELF). Now let's talk more money for small businesses! SBA.gov has some programs ...