GOV2118. COVID and Federal Relief for Not-for-Profits

Uncertainty about the COVID pandemic’s current and long-term impact on the not-for-profit industry has continued into 2021. Cancelled fundraising events, loss of funders or corporate partners and challenges meeting funder requirements or grants/contracts with government agencies at risk are at the forefront of such top issues facing nonprofits. This session will cover some of the financial statement impacts, auditing considerations, federal grant compliance and operational challenges that organizations are enduring. The presenters will discuss federal relief funds, internal control impacts and various other topics based on their experiences with a wide range of not-for-profit organizations as auditors and as board members.

Learning Objectives:

• Identify the impact of COVID on not-for-profit organizations
• Distinguish between the various types of federal COVID relief funding available to not-for-profit organizations