For most of the 1.3 million nonprofits in the U.S. (opens in new tab), the coronavirus has simultaneously heightened the need for their food, shelter, education and other social services while reducing their revenues.
Without an injection of funding, some of these organizations may have no choice but to pause or even shut down their operations, affecting not only their employees but also their community members.
In response, states, the federal government and foundations are working on solutions to
ensure short-term
relief, both in the form of cash and information. Here is an overview of some of the most
trusted, comprehensive
and practical nonprofit-specific resources available at this time, vetted by our industry
experts.
Financial relief for nonprofits nationwide
If your nonprofit needs financial help, consider consulting the many thorough listings of
aid opportunities from
some of the industry's major players. Our favorites include:
- This repository of emergency financial aid sources for nonprofits on Candid's Grantspace site, which includes suggestions like contacting your state association of nonprofits (opens in new tab).
- Candid’s special COVID-19 page (opens in new tab), which includes recently published requests for proposals from governments and organizations that are offering cash to nonprofits. The list features, for example, the State of Rhode Island's $5 million grant program (opens in new tab) for local behavioral health nonprofits.
- Independent Sector’s COVID-19 page, which has a nonprofit-specific guide (opens in new tab) to applying for federal aid through the new Paycheck Protection Program (opens in new tab).
- This list of tools and resources from the Nonprofit Finance Fund. A list of lists if you will, the page links to other pages that consolidate grants and loans for which you can apply.
State-specific financial aid for nonprofits
According to Community Foundation (opens in new tab), some 250 community foundations in nearly every state have created relief funds to support locals affected by COVID-19, including nonprofits.
We highly recommend exploring Community Foundation’s state-by-state listing (opens in new tab) of available aid, which includes opportunities like:
- The OC Community Resilience Fund (opens in new tab) from the Orange County Community Foundation in California. The fund is deploying grants from $10,000 to $50,000 to community health clinics and nonprofits that are serving vulnerable communities.
- The $75 million NYC COVID-19 Response & Impact Fund (opens in new tab) to support New York City-based social services and arts and cultural organizations whose revenue has been affected by the virus. Loans will range from $100,000 to $3 million.
-
The Chicago Community Trust’s
Chicago Community COVID-19 Response
Fund (opens in new tab), in partnership
with the City of
Chicago and United Way of Metro Chicago, which has earmarked more than
$3.5 million and counting for nonprofits in the region. (Nonprofits can’t yet apply, but
you can
log your
interest (opens in new tab)
for when funds are released.)
Understanding the CARES Act for nonprofits
Like for-profit businesses, nonprofits are eligible to receive financial support (opens in new tab) through the CARES Act, the $2 trillion federal relief package. Understanding this legislation and other future laws will be critical to ensure your organization receives maximum relief.
These links explain the law as it relates to nonprofits:
- The NonProfit Times highlights seven ways the CARES Act can financially help nonprofits, including details on the Paycheck Protection Program (opens in new tab) and SBA Disaster Loans (opens in new tab) and their specific stipulations for tax-exempt organizations.
- Southern California Grantmakers also breaks down the CARES Act for nonprofits, as well as its implications for individuals like your employees.
- The National Council of Nonprofits (opens in new tab) has a video, slide deck and recommended reading about the CARES Act for nonprofits, as well as its own lists of state-by-state and overall financial aid and educational resources.
Learn about how NetSuite is helping nonprofits and how to Connect Dollars to Outcomes (opens in new tab).
