The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act), passed in late December, includes more than $284 billion for another round of the Paycheck Protection Program (PPP) loans.

Paycheck Protection Program 2.0: Eligibility and Application (Webinar)

Watch the recording on Youtube
Download the slides (PDF)

Speakers:
Julie Clowes, District Director, Small Business Administration, San Francisco District Office (SFDO)
Lucy Salcido Carter, Public Policy Director, CalNonprofits
Jan Masaoka, CEO, CalNonprofits

PPP 2.0 Overview

The PPP 2.0 loan application process runs from January 11 through March 31, 2021. Similar to the PPP in 2020, PPP 2.0 will require borrowers to work through a lending partner approved by the Small Business Administration, and loans are forgivable if borrowers meet the loan forgiveness requirements. For now, only CDFI's are able to accept applications, but small lenders can process applications starting on 1/15/21 and all SBA-approved lenders on 1/19/21. But, there are also a number of new provisions and requirements in PPP 2.0.

The PPP 2.0 includes two avenues for accessing funds: First Draw Loans and Second Draw Loans.

Thanks to advocacy by CalNonprofits and others, the California Small Business Grant program explicitly includes nonprofits as eligible grantees! CalNonprofits is partnering with the California Office of the Small Business Advocate (CalOSBA) and the grant administrator Lendistry to provide grant program and application information to nonprofits across the state. 

UPDATE 1/13/21: The grants program deadline is 11:59 pm tonight (January 13th.) If you've started an application by tonight, you can work to complete it until the close of the second round. Hopefully, there will be less traffic on the site later this week and next week. The silver lining is that half of the allotted funds are being held for the second round of funding (dates TBD). We continue to be available to help you complete the application, but we are not able to help with technical problems on Lendistry's website. 

Contact Sue Sigler, CSBG Program Manager, with questions about the program at sues[at]calnonprofits[dot]org or 415-535-0738. Click "read more" below to see the latest updates and links to webinar recordings and an FAQ.

The Attorney General's Charities office oversees nonprofits and fundraising professionals in California, though they are not the only department that requires nonprofit filings (for example, the Franchise Tax Board).

This year, the AG's office updated a number of forms that some nonprofits are required to file, including:

Registration – for new organizations (incorporating in 2021)
Renewal – annual registration renewal form, required for most organizations
Raffles – if you host a raffle during the year, you're required to file for a permit and a post-event report
Professional Fundraisers – for firms or people who charge for their fundraising services, including online fundraising platforms

Beginning January 1, 2021, the new versions are the only forms that will be accepted. The use of old forms will cause a delay in your registration/renewal.

Specific form changes include:

• The CT-TR-1 is a new form for organizations that have less than $50,000 in revenue. This can be used in place of the IRS-990. The CT-TR-1 form must be filed with the RRF-1 annual registration renewal form.
• The RRF-1 annual registration renewal form requires charities to provide additional information, including non-cash donations.
• Changes were made to all professional fundraiser forms and the raffle forms (registration and reporting).
• For newly formed charities, the CT-1 initial registration now requires additional information such as dbas and prior enforcement actions.

The official, updated forms, along with helpful videos and instructions, are available on the AG's Charities website at https://oag.ca.gov/charities.

Looking for all the state and federal forms nonprofits might be required to file? Our Nonprofit Compliance Checklist includes a list of the forms most nonprofits are required to file, explanations about each of them, and when they should be filed. It also includes links to the most updated versions of the forms.