November 2020

Federal Reserve Expands Scope of Main Street Lending Program

On October 30, 2020, the Federal Reserve announced amendments to the Main Street Lending Program to offer more targeted support to smaller businesses that continue to be adversely impacted by the COVID-19 pandemic. The Federal Reserve also released revised…

August 2020

Federal Reserve Releases Terms of Main Street Facilities for Nonprofit Organizations

On July 17, 2020, the Federal Reserve released term sheets for the two Main Street Lending Program facilities designed to support lending to small and mid-sized nonprofit organizations, which term sheets were revised on July 28 to extend the expiration of …

June 2020

Federal Reserve Opens Lender Registration for Main Street Lending Program and Announces Main Street Loan Options for Nonprofit Organizations

On June 15, 2020, the Federal Reserve announced that lender registration for the Main Street Lending Program is now open. Lender registration instructions, as well as the form documentation relating to this program, are available here. The Federal Reserve …

July 2018

The Tax Cuts and Jobs Act: Implications for Tax-exempt Entities

The Tax Cuts and Jobs Act (TCJA) enacted at the end of 2017 had an immediate impact on all taxpayers, including tax-exempt entities. Nonprofits are faced with new excise taxes, changes to unrelated business taxes, and shifts in charitable giving incentives…

February 2015

REMINDER: Nonprofit Corporations Charter Renewal Due December 31, 2015

New Hampshire’s Voluntary Association Law, RSA 292:25, requires all New Hampshire nonprofit corporations to file a return with the New Hampshire Secretary of State, Corporation Division, each year that ends with a “5” or a “0” to renew their char…

November 2014

Five Things Nonprofits Should Know About: IRS Form 990

Please note that the term "nonprofit" as used here specifically means entities that are tax-exempt under Section 501(c)(3) of the Internal Revenue Code. The 990 is more than a financial reporting form. The IRS Form 990 is an annual reporting form that tax…