Tag: Jeff Williams

In the Time of Coronavirus: How many eligible nonprofits benefited from the Paycheck Protection Program?

In July 2020, the U.S. Department of the Treasury and the U.S. Small Business Administration (SBA) released dozens of summary data files about organizations — nonprofit and for-profit — that received loans under the Paycheck Protection Program (PPP). Up to $669 billion in loans was made available through an application process for all entities with 500 or fewer employees (or that met other, more… Read more »

In the Time of Coronavirus: Can nonprofits and foundations use their endowments as a resource for recovery?

In the wake of COVID-19, there has been a lot of discussion — especially in the blogosphere — about foundations “digging deep” both by increasing annual spending and potentially spending down endowment assets. To some voices in philanthropy — including the Ford Foundation’s Hillary Pennington (Bell, 2020), Benjamin Soskis (2020) of HistPhil and the Urban Institute, and the Libra Foundation’s (2020) Crystal Hayling — the magnitude of the crisis demands considering all financial resources. Over 300 donors and grantmakers have now signed a joint letter asking Congress to temporarily raise minimum foundation payout levels and set a payout requirement for the first time for Donor Advised Funds (DAFs) to respond to the unprecedented need among nonprofits (Daniels, 2020).