Status of the Market: The Church Can Thrive In Crisis
June 29, 2020 - Nathan Artt of Ministry Solutions shares his insights on the differences between the current economic situation and the 2008 financial crisis, specifically related to churches.
Revenue Recognition and Lease Standards Deferrals
June 26, 2020 - FASB ASU 2020-05 allows certain companies and organizations that have not yet applied the revenue recognition and leases guidance to delay their implementation by one year.
PPP Loan Application Survey Results
June 18, 2020 - We surveyed leaders of churches, faith-based higher education institutions, and nonprofits about their experience in applying for funds through the CARES Act. Here are the results.
Loving Our Neighbors
June 4, 2020 - We ask that all of us turn our hearts, our prayers, and most importantly, our actions back to what God has asked of us: ‘You shall love your neighbor as yourself.’
Education Dept. Guidance on Initial Higher Education Emergency Relief Fund Reporting
May 18, 2020 - Institutions that received funds through the Higher Education Emergency Relief Fund must post the following information on their website within 30 days of receiving the allocation.
“Insights” Facebook Live Series for Church Leaders
We’re excited to introduce our new “Insights” Facebook Live series! Join us each Thursday at 12 p.m. ET for financial, governance, and other guidance for church leaders in under five minutes.
IRS Provides FAQs About Emergency Relief Funds Disbursed to Students
May 11, 2020 - The IRS has provided answers to questions about funds disbursed to students under the Higher Education Emergency Relief Fund created by the CARES Act.
SBA Issues Guidance on Student Workers and PPP Loan Eligibility
May 7, 2020 - The SBA has provided guidance on whether higher education institutions can include student workers when determining the number of employees for purposes of PPP eligibility.
SBA Provides Answer on Foreign Workers and Employee Counts for PPP Loans
May 7, 2020 - The SBA has issued a FAQ that provides clarification on how foreign workers affect the employee computation for PPP loan eligibility.
Treasury Dept. Says PPP Loan Amounts Over $2 Million Will Be Audited
April 29, 2020 - U.S. Treasury Secretary Steven Mnuchin announced that the Small Business Administration will audit Paycheck Protection Program loan amounts over $2 million to verify economic need before the loans are forgiven.