(From NBOA) In the second installment of "COVID-19: Your Questions Answered," held April 9, 2020, NBOA and Venable LLP addressed how schools are managing their responses, the legislation impacting independent schools, an
(from RSM) Last Thursday, April 9, the Federal Reserve said it would provide up to $2.3 trillion in liquidity commitments to support the economy. This policy intends to bolster households, small and medium-sized firms, a
(from NBOA) On Thursday, April 9, 2020, the Internal Revenue Service issued an extension relief notice (Notice 2020-23) to authorize the postponement of specific time-sensitive acts for affected taxpayers including annua
(From Nonprofit Quarterly) The application process for payroll loans through the Paycheck Protection Program (part of the CARES Act passed in late March) has been rocky for all, but especially for nonprofits. In the crus
(From Bloomberg, Inside Higher Ed) Numerous factors are causing uncertainty about the financial viability of colleges and universities next year. The longer lockdowns continue, the more uncertain schools are about the si
(From blumshapiro) Most if not all independent schools are now wondering what impact COVID-19 will have on 2020-2021 enrollment. In times of crisis, cash flow rather than operating results becomes the basis for making cr
(from Politico) Banks on Monday, April, 6, struggled to assist thousands of small businesses vying for $350 billion in government-backed loans, as lenders reported that a Small Business Administration system used to proc
(from the 74 Million) Time for Kids, Scholastic, Khan Academy and other online learning providers have collaborated to launch WideOpenSchool.org under the leadership of Common Sense Media, a nonprofit known for rating ed
(From the New York Times) Under the new CARES Act, Congress will provide Secretary of Education Betsy Devos with the right to waive parts of the federal special education law while schools combat the coronavirus pandemic
(From Nonprofit Quarterly and Venable LLP) The video conferencing app Zoom has seen a surge in active daily users, yet experts warn of persistent privacy concerns and data handling policies. Zoom’s privacy policy claims
(From NBOA) With most independent schools providing some form of online schooling at the present time, clarifying teacher-student boundaries is more important than ever. “We’re in a new normal, and attempting to eliminat
(from Independent Sector and Armanino) Independent Sector and lobbyists Washington Council Ernst & Young have developed a resource to help nonprofits apply for relief funds made available through recent COVID-19 rela
Pandemic
Regulatory Updates
(from NBOA) On Friday, March, 27, 2020, a $2 trillion relief package to support the U.S. economy during the COVID-19 pandemic was signed into law. The Coronavirus Aid, Relief and Economic Security Act (CARES Act), will i
(from NBOA) On Thursday, March 26, NBOA and Venable, LLP presented via webinar answers to pressing questions from independent schools as they grapple with COVID-19 closures and changes. Jennifer Osland Hillen, NBOA's vic
(From Brookings) Unemployment insurance claims for the week ending March 21, 2020 totaled a record-breaking 3,283,000, almost five times the highest previous weekly total. However, there are hopes that this could be tem
(from NBOA) On March 25, the Department of Labor issued a poster for the Families First Coronavirus Response Act (FFCRA) that needs to be publicly available to all employees. It addresses which employees are eligible of
(from EdWeek) As of Tuesday, March 24, 124,000 U.S. public and private schools have been closed, affecting at least 55 million students. Maine, Iowa and Nebraska are the only states in which some schools remain open.
(From The Brookings Institution) Across America, consumer spending is crashing, yet some metropolitan areas may be at a higher risk of economic disruption than others, according to a recent study from the Brookings Insti
(From CliftonLarsonAllen) Many independent schools across the country are considering a range of issues that have financial implications as they continue remote work. To navigate these uncertain times, organizations need
(From NPR) On Monday, the White House announced new guidelines for the next two weeks, urging Americans to avoid gathering in groups of more than 10 people; to avoid discretionary travel, shopping trips, or social visits
