Update for Nonprofits on the American Rescue Plan Act’s Employee Retention Credit

Posted by Jennifer Solot on Jul 1, 2021 7:13:00 PM

The American Rescue Plan Act (the Act) was signed in March and expanded the eligibility for the Employee Retention Credit (ERC), as well as extending the credit period through the end of 2021. While the 2020 credit was limited to 50% of $10,000 in qualified wages per employee, the Act increased this amount to 70% of qualified wages paid per employee per quarter. That’s a potential credit of $28,000 per employee for 2021!

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Pennsylvania Nonprofits: Don't Forget to File Your Decennial Report

Posted by Jennifer Solot on Jan 5, 2021 4:00:00 PM

Beginning January 15, 2021, the Pennsylvania Department of State will begin notifying all corporations, including nonprofit corporations, of their need to file a Decennial Report. 

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COVID Update: Consolidated Appropriations Act of 2021

Posted by Jennifer Solot on Jan 4, 2021 12:29:00 PM

On December 27, 2020, the Consolidated Appropriations Act of 2021 (Act) was signed into law. The Act affects several provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The largest of these relates to the Paycheck Protection Program (PPP) loans.

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