At the outset of the COVID-19 crisis, we committed to finding ways to provide our community with the resources and support needed to weather this storm. We are writing to share an update on the Paycheck Protection Program and supports you can continue to access through our partnership with FMA. If you haven’t checked out their PPP Toolbox lately, you’ll find brand new public clinics, on-demand webinars, FAQs, and more.

No matter where you are in the process, FMA has resources for you. We’d like to share some of those and encourage you to participate in their short survey (https://forms.zoho.com/FMA/form/PPPToolboxAssessment) so you can share how FMA can help you through the next phase of the process.

· For nonprofits who have yet to apply or are in the middle of the process: Unfortunately, it is likely that funds will run out again. If you are learning about the Program or determining if the Program is a good fit for you, FMA has an on-demand webinar and presentation deck available for download, now has a PPP loan calculator in Spanish, scripts to speak to banks, and more on the PPP Toolbox. We encourage nonprofits to stay in active communication with their banks and be ready for changes to the funding as they arise.

· For nonprofits who received loans: We hope this is giving you an opportunity to take a few deep breaths. As you turn to the next phase in this process, we want to ensure you have the support needed to navigate the proper use of the funds and how the forgiveness process will ultimately work so no one is unnecessarily left with loans that could have been forgiven or required to give back funds due to misuse. For many nonprofits, this is the first time you’ve managed a loan, and the guidance from the SBA is continuously evolving. FMA has several resources for you:

· Public clinics on Managing Your Loan and Forgiveness 101. In this session, FMA will share detailed guidance on what organizations can and cannot spend the funds on, how to properly account for and track the funds, what FMA knows to date about how forgiveness will be calculated and what to expect from that process, and other decisions related to PPP organizations may need to make (e.g., how will this funding interact with restricted revenue we received). You can register through the Toolbox. · Accompanying guidance deck and a new FAQ can also be found on the Toolbox.

· Coming Soon: Forgiveness Calculator and case studies to support you navigate difficult decisions

· Direct Support on PPP: Regardless of the stage of loan application, FMA can provide other direct support through the following: · Dedicated email helpdesk for PPP questions: fmacares@fmaonline.net · Subscribing to the PPP mailing list to receive updates on new resources

· They have regular office hours available for live support. Links to those are available by emailing fmacares@fmaonline.net.

· Beyond PPP Tools: Nonprofit leaders are faced with difficult decisions and are eager to understand the impact these decisions and changes due to COVID-19 will have on their organization’s finances. With this in mind, FMA has a suite of planning tools for you and your leadership team: · On-Demand Webinar produced in partnership with the Wallace Foundation: Navigating COVID-19 for Nonprofits: From Financial Triage to Scenario Planning · Revenue Scenario Planning Tool to help nonprofit leaders project best, moderate, and worst case revenue scenarios · Cash Flow Projection Template & Tutorial designed to help nonprofit financial managers build and monitor cash flow projection

Please do not hesitate to share how else we can be useful in the weeks and months ahead,