CARES Act Section 18004(a)(3) – At least $500,000!

PPP and Minister’s Housing Allowances

ISSUE The SBA has clarified whether expenses paid for housing allowances could be included in “payroll costs” when figuring the amount of spending on covered costs during the 8-week period after receiving PPP funds.  This can be important for applying for “PPP...
CARES Act Section 18004(a)(3) – At least $500,000!

Virtual Fundraising Events

ISSUE In these interesting times of “social distancing,” is it possible to host a fundraising event for donors and stakeholders of your institution?   SITUATION Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3)...
CARES Act Section 18004(a)(3) – At least $500,000!

Higher Education Emergency Relief Fund

ISSUE Last week, the U.S. Department of Education began sending out letters and other information with regard to the CARES Act’s Higher Education Emergency Relief Fund (HEERF).  Does your school qualify for some funding?   SITUATION Troas Bible College (TBC) is a...
CARES Act Section 18004(a)(3) – At least $500,000!

Paycheck Protection Program Loans/Grants

ISSUE With the interesting opportunities for loans – that may turn into grants through forgiveness – what can I spend these funds on?   SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section 501(c)(3) and...