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Money and Finances
Reply to "Paycheck Protection Program - SBA Loans - Forgiveness Question"
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[quote=Anonymous][quote=Anonymous]Op here - thanks for your help. We aren’t laying off now even though it would preserve cash. We’re a religious non-profit and that is not in line with our values. It seems like FT headcount just has to remain the same at 6/30 which seems like a loophole to me for organizations that are on a 6/30 fiscal year and may decide to reorganize staff (eg discharge someone or make salary reductions). But I guess this money is supposed to get you through the next couple of months to pay operating costs (payroll) through 6/30 and if you have to make painful decisions after that bc things haven’t turned around, they aren’t going to penalize you.[/quote] I should have said loophole if the organizations decide to reorganize or make changes to staff comp for FY 2021. But I think I talked myself through that it’s okay to do that if need be.[/quote]
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