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Paycheck Protection Program: Local perspective

When the CARES Act was passed by Congress in late March, it included different types of financial aid and assistance for small businesses and nonprofits through the Small Business Administration (SBA).

One program – Paycheck Protection Program (PPP) -- has made headlines for several weeks now. These relief loans are issued through Small Business Administration-approved lenders and, unlike loans in previous crises, don’t require any personal guarantee or collateral from borrowers and are available to nonprofits.

While applications from some lenders were available beginning on April 3 and Treasury Secretary Steve Munchin reported last Wednesday that the administration approved roughly $100 billion of the $349 billion allocated for emergency loans, but few applicants report they have the money in hand.

So how is it working for nonprofits in Indianapolis? Three area banks – the National Bank of Indianapolis, Horizon Bank and Fifth-Third Bank – have all been approving applications, but not all had ready access to information about nonprofits.

According to Ann Merkel, National Bank’s senior vice president and chief marketing development officer, applications were approved throughout the week in the order they were received. Over the first weekend, Merkel said over 700 applications were received. Of the applications received in the first week 20 percent were from nonprofit clients.

Early in the week, Merkel noted that the system was slow because of the enormous volume with SBA, which reported that mid-week over 450,000 loans had been approved reflecting $120 billion. Of course, Merkel said, the number of actual applications submitted from National Bank is much greater than what the SBA has been able to process, but that bank clients have been notified of approvals as received.

Fifth-Third Bank branch manager Chante Williams said that after an application is submitted with all the required documents, there is not yet a timetable for funding. She said the number of nonprofit applicants was not yet available.

Horizon’s Vice President and Treasury management officer, Dave Voris said the bank also didn’t yet have data on the number of nonprofits that have applied. “The program has been overwhelmingly positive and we have so much volume that we’re trying to focus on taking care of existing deposit and loan customers.”

EDITOR’S NOTE: What’s your nonprofit’s experience? Has your application been approved? Have you been notified when you will receive funds? Do you have your funds in hand?

Contact us and let us know.



Breaking down new charitable-giving incentives. Outlined within the 900-page CARES Act under section 2204, donors can now use a universal tax deduction of up to $300 on their 2020 tax return if they take the standard deduction. This provision reinstates the opportunity for gifts of all sizes to qualify as tax deductible. While this above-the-line deduction doesn’t apply to donors who itemize their deductions, an additional tax incentive that increases the cap on charitable contributions from 60% of your AGI to 100% will benefit itemizers, too. What this all means is that your donors will have an increased benefit from their generosity this year. Read more.

Free accommodations for healthcare workers and first responders: The Buckingham Foundation expanded its community outreach by offering free accommodations at the Alexander Hotel through the end of April for Indianapolis-area hospital medical workers, including doctors, nurses and first responders, and includes one-bedroom extended-stay studios. A valid I.D. and current medical credentials are required at check-in. Call the reservation desk at 317-624-8200 or toll-free 855-200-3002.

The Immigrant Welcome Center’s Natural Helpers reach and assist about 120 immigrant families weekly to ensure that immigrants have information about health care and taking care of basic needs during the COVID-19 pandemic. The Immigrant Care Line at 866-711-1342 with multi-lingual support is available to provide information and resources related to COVID-19 for immigrants in the community.

Volunteers needed to call seniors: Many United Way accredited partners reported that volunteers are desperately needed to help touch base and check in with seniors who are growing increasingly despondent during this pandemic. There are also several other volunteer opportunities available. Check out its volunteer blog to learn more.

The Rachel Glick Courage Center (2115 N. Central) has been repurposed to provide temporary shelter for children and youth whose caregivers are incapacitated or hospitalized due to COVID-19. Project Courage will give emergency responders a place to take kids who have been exposed to the virus and would otherwise not have a place to stay. More info on how Children’s Bureau is supporting families impacted by COVID-19 can be found on its website.

Purdue student farm helping stock pantries: Without the usual vendors available, the Purdue Student Farm continues to produce food and is now supplying Food Finders Food Bank and the on-campus ACE Food Pantry with fresh produce. Horticulture and landscape architecture professor Steve Hallett said the farm has donated 100 bags of fresh greens to Food Finders every Monday and Thursday during the pandemic. Read more.

New service: With COVID-19 stretching human service organizations, every position is critical to meet the increased demand for services. We can lend a hand. With a proven track record, Charitable Advisors nonprofit recruiters can help ensure that your nonprofit can continue to fill key positions, does not lose talent or take the focus away from the organization’s mission. Learn more here.

New service: At Charitable Advisors, we recognized that few nonprofit boards are accustomed to making difficult decisions? With more than 20 years of experience, one similarity we have found is that all boards desire to serve and support their neighborhoods or communities. During this tough time, Charitable Advisors can provide a positive, neutral voice and help your board address the issues at hand. Learn more here.

By Abby Rolland, communications project manager at the Lilly Family School of Philanthropy

For more than a decade, the Women’s Philanthropy Institute (WPI) has conducted research to answer this question. Known for its studies that specifically focus on gender and giving, the institute doesn’t just report on the findings, but incorporates practical perspectives and applications in every study it conducts.

When Jeannie Sager joined WPI as director early this year, she was especially drawn to WPI’s mission to curate and disseminate research.

“Sager will be a dynamic new director guiding the next phase of our Women's Philanthropy Institute, which is helping to understand the full potential of women in philanthropy and the potential of women's philanthropy to transform the world,” said Amir Pasic, Ph.D., the Eugene R. Tempel Dean of the school. “Her experience working with women philanthropists as donors and volunteers will further inform the institute's work, and her strategic, creative leadership style will help launch a new decade of excellence for WPI.”

An established leader in philanthropy and fundraising, Sager brings a wealth of expertise and more than 25 years of nonprofit leadership and development experience in a variety of fields, including higher education, independent schools and healthcare.

At the Indiana University Health Foundation, she was part of the leadership team that created a flagship statewide foundation from several disparate hospital foundations that collectively exceeded its first-year fundraising goal by more than 330%.

Read more.

Health Care Education & Training (HCET) is conducting a statewide-training needs analysis to determine priority training and education needs of Indiana youth-serving organizations and to ensure future training events meet workforce’s needs. Take the survey.

Eleven Fifty Academy has made all of its courses available online for Hoosiers statewide. The nonprofit coding school says the switch is in response to "the current workforce pressures" affecting Indiana. Learn more.

Indiana Public Broadcasting Stations have published programming schedules and corresponding curriculum resource materials focusing on math, science, social studies, literacy and other subjects for grades K-12. The curriculum resources from PBS LearningMedia are a free online service of thousands of educational tools. Television program schedules have been augmented with information about grade-level appropriateness, subject area focus and learning objectives. Learn more.

COVID-19 RELIEF FUNDS  

Central Indiana COVID-19 Community Economic Relief Fund (C-CERF) made unrestricted grants totaling $4,550,000 to 32 community organizations in Boone, Hancock, Hamilton, Hendricks, Marion and Morgan counties. Combined with the first round of grants made on March 24, C-CERF has distributed more than $11.8 million to 74 organizations in Central Indiana to date. Read more.

The Indianapolis Foundation has granted Marion County nonprofit organizations $1,131,800. During this grant round, $238,000 was directed to nine different organizations providing service to the community specifically in response to COVID-19. An additional $893,800 was awarded to projects or initiatives that aligned with the strategic plan or demonstrated extreme or critical need in Marion County. Read more.

Lilly Endowment: As the COVID-19 pandemic evolves, the Endowment has designed an online resource that will be updated that includes its grantmaking and affected initiatives deadlines. https://lillyendowment.org/news/lilly-endowment-covid-19-updates/

A $2.6 million e-learning fund to help schools improve distance education. The fund, administered by Mayor Joe Hogsett’s Office of Education Innovation, will help low-income students in Indianapolis’s 11 districts and charter schools get access to devices and the internet during this time that all campuses are closed. Founding funding partners include: the Richard M. Fairbanks Foundation, Eli Lilly and Company Foundation, the Cummins Foundation, EdChoice, Emmis Communications, Glick Philanthropies, The Heritage Group, The Indianapolis Foundation, The Indianapolis Foundation Library Fund, The Indianapolis Motor Speedway, the Indiana Charter School Network, the Institute for Quality Education, Lilly Endowment Inc., the Lumina Foundation, The Mind Trust, The OneAmerica Foundation Inc., Salesforce, the Telamon Foundation, and United Way of Central Indiana. Read more.

SPONSORS' INSIGHTS

IU Lilly Family School of Philanthropy: The Fund Raising School is offering new resources for successful fundraising amid today’s economic turmoil with access to free webinars, podcasts and articles that provide advice and techniques for navigating challenges of COVID-19 era. Learn more.

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