Information from the Board of Pensions
The Board of Pensions is offering dues deferments or waivers to assist churches during the coronavirus crisis. There are also expanded benefits available to those participating in the benefits offered. Click here for the Board’s website with more information.
CARES Act
As of this writing, Congress is working on a second round of funding for the Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL). It is expected to be completed by the end of this week or the first of next. If your church was unable to secure funding from these programs, immediately contact your local bank to let them know your church is interested in submitting an application and start preparing supporting documentation for the application. If your bank is not a Small Business Administration (SBA) lender, they should still be able to access the SBA for PPP loans. If your bank is not participating in the PPP, ask for a referral to a financial institution that is.
Brown Edwards CPAs has published a good overview of the aid and assistance available to nonprofits, including churches and religious organizations.
For more information on Paycheck Protection Program loans and other financial aid for nonprofits available, please visit the Small Business assistance page of the US Treasury website.
Also, if you have not already done so, I recommend you check with your insurance provider. Many of them, especially those specializing in church insurance coverage, are publishing guides and information on resources they have for their customers during the coronavirus crisis.
NOTE: PLEASE SEE THIS ARTICLE FOR ADDITIONAL INFORMATION ON THE ABOVE TWO TOPICS.
Maintaining church treasurer’s operations
I have received calls from treasurers asking if they should be going to church to handle the treasurer’s functions. While the governor’s stay-at-home order lists religious entities as an essential business, I think Dr. Cathy Slemp, State Health Officer, said it best in her recommendation, “Essential means you have to maintain operations but it leaves the door open for doing that in different ways. If you can do it from a distance, if you can do it remotely, if you can do it in a different way, that’s the best. There are certain situations you have to be in person, and you do those with as much protection for folks as possible.”
My plan, as the treasurer of both the PWV and First Williamstown, is to take home what can be done there, and go to the church or office to do what has to been done there. If we need someone to help with deposits, sign checks, etc., let’s practice social distancing as is practical and minimize the exposure to each other.