We are compiling resources in response to COVID-19 for our grantee partners and nonprofits, as well as for individuals.  We will continue to update this page as information becomes available. 

If you’d like to share resources on this page or see details that need to be updated, please email Brennan Gang at brennan@kacfny.org.

 

RESOURCES FOR NONPROFITS

Remote Working

Funding Opportunities for Nonprofits

New Developments

  • Paycheck Protection Program Toolbox from FMA Institute:  SBA’s Paycheck Protection Program provides potentially forgivable loans for nonprofits with 500 or fewer employees at 2.5x your average month payroll, up to $10M to 501(c)(3) nonprofits experiencing uncertainty in the current economic climate to help cover the costs of payroll and certain operational expenses.SBA will forgive loans if all employees are kept on the payroll for eight weeks after the loan originates and the money is used for payroll, rent, mortgage interest, or utilities. Eligible nonprofits must have their materials ready as quickly as possible since the first come-first served application process opened on Friday April 3rd and is continuing.
  • Stimulus Bill Provides Nonprofit Loans, Grants, and One-Year “Universal Deduction”
  • Excerpts:
    • Nonprofits with 500 or fewer employees (counting all full-time and part-time employees equally) will be eligible for Small Business Administration loans of up to $10 million. Nonprofits are also eligible for expedited loans of up to $1 million. The money would have to be used for payroll, including paid leave, as well as health-insurance premiums, facilities costs, and debt service.
    • Nonprofits that keep their employees on the payroll from February 15 to June 30 could have their loans forgiven, turning the loan into a grant.
    • Nonprofits that self-fund unemployment benefits could get reimbursed for up to half the costs of benefits provided to their laid-off employees.

 

RESOURCES FOR INDIVIDUALS/SMALL BUSINESS OWNERS

 

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Korean American Community Foundation.
All Rights Reserved.
Korean American Community Foundation (KACF)
135 E. 64th St., New York, NY 10065
  info@kacfny.org
  (646) 878-9427