We Got a PPP Loan! Now What?
***Please note that even though this webinar series has passed you can still register and receive access to the recordings and slides. You will receive an email with information on how to access them plus additional information within 24 hours.***With all the stories in the news about businesses that weren’t able to obtain a PPP loan, you’re likely ecstatic if your application was approved. Now you need to fully understand all of the federal legislation and guidance that applies to loan recipients. Join MPPI for a 2-part webinar series that will cover legal issues surrounding what you need to know about being a recipient of federal financial assistance and the accounting information you need to maximize loan forgiveness. We suggest you register for both components but also offer the option of registering for one or the other in the event that you want to register your bookkeeper or a board member for one or the other.
Part 1: Becoming a Recipient of Federal Financial Assistance: What Are My School’s Obligations?
Independent schools are usually exempt from certain federal laws, unless they become recipients of federal financial assistance (FFA). Accepting PPP (or EIDL) loan funds constitutes receipt of FFA for the duration of the loan period. Attorney Connie Baker, whose specialties include independent school law, will review what you need to do to comply with Title VI, Title IX, the Age Discrimination Act and Section 504.
When: Tuesday, May 5th, 7:00 PM EST
Intended audience: Private school heads and administrative staff, board members
Part 2: PPP Accounting and Loan Forgiveness
One of the most appealing facets of the PPP loan program is the possibility of obtaining full or partial loan forgiveness. Amy McPherson, founder of Advisors for Change, will review what you need to know to maximize loan forgiveness. It is important to know the details of what expenses are allowable, the critical nature of timing expenses, and the documentation you should maintain for when you apply for forgiveness. Amy has spent 25 years providing financial management services to nonprofit organizations and will help you meet the requirements of this unusual source of funding.
When: Thursday, May 7th, 7:00 PM EST
Intended Audience: Heads of School and their bookkeepers, other PPP recipients and their bookkeepers