Since most travel programs are nonprofits are they eligible for stimulus assistance?
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Anonymous
| Anyone have any knowledge on this from a business standpoint? |
Anonymous
I would assume so, if they need the money to support future programs and salaries. |
Anonymous
| I hope not. |
Anonymous
| Yes, and why shouldn't they be? They're employers and businesses just like everyone else. |
Anonymous
| Only if their coaches, etc are employees (on a w-2) and not contractors (on a 1099). The clubs can apply for PPP money, and can include 8 weeks of utilities, rent, and payroll (excluding contract labor). |
Anonymous
| I don't know about soccer, but our non-profit sports team is so I don't know why not. |
Anonymous
| So wait, they get to keep our fees, not offer refunds because they’re paying their staff with our money but also can get stimulus money?! Brilliant. |
Anonymous
Yep. |
Anonymous
Actually, it's more like: pay staff with stimulus money and the directors can pocket the money that they aren't refunding. |
Anonymous
|
Exactly
Nonprofit could take thebPPP and pay for 2.4 months of annualized salary etc. and they could take a loan at 2.75% for 20 years. And 1099 employees like coaches could take unemployment insurance There is. No fiscal reason to not provide refi day other than a money grab. |
Anonymous
Yep just like every hedge fund manager I’ll be getting a bailout and still collecting frees. Goods times! |
Anonymous
ha ha, nice try Tommy Parks booster. |
Anonymous
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DC's rowing team said they are applying-- they are a non profit (parent organized), but formally registered. They've kept coaches on through spring despite no practices, and are applying for SBA loans.
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