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Resources for Nonprofit Directors

Main Street Lending Program Definition [Video]

The Main Street Lending Program was run by the Federal Reserve System (Fed) to support small- and medium-sized businesses and nonprofit employers impacted by the COVID-19 pandemic.

The program made available $600 billion in loan facilities to employers, who must have been in good financial standing prior to the onset of the COVID-19 crisis. To encourage banks to lend, the Fed bought 95% of new or existing loans to qualified employers, while the issuing bank kept 5% to discourage irresponsible lending. In exchange for the loan, employers must have made reasonable efforts to maintain payroll and retain workers. The Fed announced the Main Street Lending Program on April 9, 2020.

On Nov. 19, 2020, Treasury Secretary Steven Mnuchin said he would not reauthorize extending the Main Street Lending Program past Dec. 31, 2020. However, the Fed extended the program to Jan. 8, 2021, to process loans that were submitted on or before Dec. 14, 2020. The program ended on Jan. 8, 2021.

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Resources for Nonprofit Directors

Nonprofit's Questions of the Week [Video]

A lively talk about maintaining a culture of philanthropy within nonprofits, covering the importance of communication, transparency, and ethical practice in all fundraising efforts. This engaging Ask & Answer episode highlights the evolving nature of nonprofit fundraising and the ongoing commitment to ethical practices within the sector. Jack Alotto, a seasoned expert in nonprofit fundraising, shares his enthusiasm about the increasing participation in his CFRE (Certified Fundraising Executive) training programs, noting that the numbers remain high with classes reaching around 170 participants. He describes a new initiative tailored for Muslim-affiliated nonprofits, reflecting the inclusive approach of the training sessions. This enjoyable learning episode focuses mainly on the ethical dilemmas fundraisers often face. Jack emphasizes the importance of adhering to ethical standards, especially when dealing with competitive situations between nonprofits, advising against disparaging other organizations, stressing that the goal should be to enhance the entire community's well-being rather than focusing solely on individual success. This approach aligns with the AFP (Association of Fundraising Professionals) code of ethics, which promotes integrity and respect among fundraising professionals. One of Jack's statements from the episode encapsulates his philosophy on this issue: "I am reluctant to engage in a conversation which would disparage another nonprofit... we should continue to talk about the benefits of giving to our organization and the importance of making a gift to advance our mission. It's OK if they also want to give to another organization doing similar work. It just makes the whole community much better." With input from host Julia Patrick, the episode explores the role of ethics in donor relations, with Jack advocating for the inclusion of the AFP code of ethics in donor packets to educate and align expectations with donors.#fundraisingethics #nonprofitfundraising #nonprofitmanagement

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Resources for Nonprofit Directors

Charities webinar - Contract exposure: managing risks in legally binding agreements [Video]

On Wednesday 11 May, Edward Bouckley delivered the next webinar in our charities bite size series. In the webinar Edward looked at some of the key aspects of managing risk when entering into commercial contracts. He discussed:• What risk management is.• What risk is and why properly managing it is so important to charities.• Some of the ways risks can be managed in contacts.Edward also looked at some of the steps that you can take to better protect your charity when entering into contractual arrangements.Here are the timestamps to help guide you through this webinar:0:52 Birketts at a glance1:18 What we will cover today2:09 What is risk management?3:07 What is risk and why is it important?3:59 Contractual risk5:58 Identifying risk10:05 Written contracts11:34 Assessing Risk13:10 The danger of "pre-contractual" agreements14:27 A cautionary tale16:21 Rights and obligations17:51 Risk - allocating and controlling18:48 Transferring risk: indemnities20:00 Controlling risk: limitation of liability21:29 Practical tips23:18 QuestionsThe webinar ended with a Q&A. Disclaimer: The content of this webinar is for general information only. It is not, and should not be taken as, legal advice. If you require any further information in relation to this webinar please contact us in the first instance. Law covered as at May 2022. Meet our expert, Edward Bouckley: https://www.birketts.co.uk/our-lawyers/norwich/edward-bouckleyContact us at: https://www.birketts.co.uk/contact-usSign up to future webinars: https://www.birketts.co.uk/events​​​​ To ensure that you are invited to future webinars and receive our newsletters please opt in to our mailing lists and select the appropriate areas of interest. https://www.birketts.co.uk/register