GEORGE JOHNSON & COMPANY
SPRING/SUMMER 2020 – NPO
Dear Clients and Friends,
- GJC’s Response to COVID-19 – Office Update
- Coronavirus Strikes Nonprofits
- CARES Act and Employee Benefit Plans
- COVID-19 Federal Aid Package
On April 9, 2020, the IRS issued Notice 2020-23, which contains expanded relief for those tax forms and other filings that are postponed as was originally announced last month. See the IRS Coronavirus website for more details.
First, the payments and returns eligible for relief are expanded. Any tax return or payment due on or after April 1, 2020, and before July 15, 2020, is now automatically postponed to July 15, 2020-no extension forms, letters, or other forms of documentation or communication are required to make use of this relief. This will now cover, for example, calendar-year 2020 second quarter estimated tax payments, among other things.
1. Organize and prepare a crisis management team. In the nonprofit space, having a crisis management team that represents your mission and programming is important. Crisis management usually isn’t a part of the core competency of a nonprofit organization – and the situation we’re in now has highlighted the need for this to change. In vulnerable times of crisis, a team with expertise tailored to fit the needs of the situation can prove just as valuable as a strong team leader and executive who facilitates crisis response.
Nonprofits and higher education institutions continue to be on the front lines of the novel coronavirus (COVID-19) pandemic. As organizations wrangle with ensuring the welfare of their own people and enabling the “new normal” of remote work, they are also contending with how to continue their mission-all while navigating funding uncertainty.
During recent weeks, we’ve seen organizations lean into their missions, particularly when they are helping those most affected by the pandemic. While many nonprofits are adapting to the crisis and beginning to plan for the future, many questions remain as this situation continues to evolve.
Congratulations to Peter Walkuski for passing the CPA exam!
Tiera Taylor was hired under our HBCU (Historically Black Colleges and Universities) Legacy Internship Program. She graduated from Florida Agricultural & Mechanical University (FAMU) with a Bachelor of Science in Business Administration. Tiera anticipates graduating in May 2020.
GJC is an Independent Member of the BDO Alliance USA