Letter to AFP-NYC Members
Steven G. Jacobson, President
Fellow AFP-NYC Members:
As many of you know, the chapter sends out our NYC Fundraising Matters newsletter on a bi-weekly basis. In normal times, this frequency seemed to be fine. We didn't bombard you with content while it gave us the time to generate the appropriate content for you. However, these are not normal times. We are all in crisis mode. So, we hope that you'll appreciate the chapter leadership's commitment to provide more frequent communication with you.
Sometimes, this communication will take the form of emails like this one. Other times, we will be letting you know of other opportunities for an interactive exchange of questions, insights and ideas - as we did with our recent Fireside Chat, which, by the way, engaged more than 380 people in our fundraising community. We're also in the planning stages of bringing our top-notch professional advancement curriculum online. To say that we're excited about this would be an understatement. No longer will we be bound by a set day, time or place to get you expert advice on your critical fundraising issues. Stay tuned for more info.
Now, to a really important matter: the $2.2 trillion economic relief package that the federal government has put into law. Today is April 3rd, the first day for small businesses, including nonprofits, to apply for a loan under the Payroll Protection Program. While the banks have balked at participating until clearer guidelines were in place from the US Treasury and the Small Business Administration, it now looks as if they are satisfied and online applications should be able to be processed shortly on your bank's website. I can't stress enough how important this lifeline can be for you. While there are plenty of websites out there that can give you much more complete descriptions of the program, I will just say that this is an opportunity for you to obtain a forgivable loan for an amount equal to 2.5 times your monthly payroll. There is $359 billion available, but the program is being administered on a first-come, first-served basis, so you need to apply now! Read more here.
I hope that you, your colleagues, family and friends are in good health. Stay safe and be well!