Hello is everyone muted?
Hello, Amy! This is Chelsea from the CNM team. Everyone is on mute for now.
Welcome all! Feel free to chat Towh Hall topics or idea here
I’m not familiar with the change in donor benefits - they can deduct contributions for 2020?
How would you address the stimulus checks with your donors? Many of ours might qualify for a stimulus, but not necessarily want to keep it or need it (their job/salary wasn't effected)
I may be the only C6 in the group. If the panel could please speak to issues that may also be useful to c6's I would appreciate it!
Info for changes in charitable contributions via CARES Act: https://www.kiplinger.com/slideshow/taxes/T054-S001-cares-act-expands-charitable-giving-tax-deductions/index.html
Thanks for the clarification!
Can you give examples of cutting into muscle but not bone
Four areas Marsha of Martha O'Bryan emphasizes: 1. 18-24 month financial downturn; make possible substantial cuts as early as possible; make projections - ask your board or others for support in this if you're not sure how best to do so. 1. Make sure your staff are invested in leadership around the financial management of their own departments - if you ask them to make cuts, they'll understand why and how this impacts your business, why it's necessary. 3. You're gonna have to cut into the muscle but don't cut into the bone. Commit to working hard but you may have to step back in some aspects. 4. Identify and understand where your mission connects with the goals of our city and "make a bet" in a big way to move toward this increased alignment/impact. …. And, make sure your budget is watched as closely as your revenue development. Know your assets and position when you take big pivots to your board. Make great decisions, make great cashflow projections, and get everyone in your organization on board.
How does "cutting into muscle" coincide with the period from now through June 30, 2020 relative to the Paycheck Protect Program requirements to retain staff or risk loan forgiveness?
Such amazing advice. Thank you, Marsha!
can you give an example
That frozen meal program is possible thanks to our awesome partners at St. Luke's Community House who are delivering to their clients!
Thanks, Teri! We are so appreciative of the collaborative, creative approach to ensuring our seniors are still able to have nutritious daily meals!!
Hope Nashville Food Project and others connect with TN Commission on Aging to benefit from increased federal dollars for meals for older adults
@Erik: Yes, if you "cut into muscle," it's important to know how that potentially impacts the forgivable amount in a PPP Loan. Loans will have to be repaid if you do not maintain your staff and payroll.- Number of Staff: Your loan forgiveness will be reduced if you decrease your full-time employee headcount.- Level of Payroll: Your loan forgiveness will be reduced if you decrease salaries and wages by more than 25% for any employee that made less than $100,000 annualized in 2019.- Re-Hiring: You have until June 30, 2020 to restore your full-time employment and salary levels for any changes made between February 15, 2020 and April 26, 2020.
Thank you for that tip, Grace! I will look into that.
Snowstorm, winter, ice age - great way to capture the differences in the unknown future. Thanks for that!
A tool that might help put Marsha's advice into action: https://centerforcommunityinvestment.org/blog/reimagining-strategy-context-covid-19-crisis-triage-tool
Amy we can't hear you
she’s on mute
She's not on mute. seems like her audio may be messed up.
What is Marsha referring to that affected them in 2010?
@Phillip: May 2010 flood
How do you balance deciding where to cut in terms of admin, fundraising and programs? You obviously need to invest in fundraising to grow programs, so it can be a catch 22 at times.
I guess my audio isn't working. sorry. We are a very small organization with only two 30 hour/wk employees and a marketing contractor. We are looking at making substantial cuts because we are overly-dependent on special events. We had two that had to be postponed and we are not sure if/when they can be rescheduled. We are a c6, so we don't qualify for the PPP. My board wants me to cut everything down to the bone and have not shown much interest in talking about lines of credit or the EIDL loan. What would you tell your board if the options are to lay off an employee and cut most of our marketing or borrowing money?
@Phillip, Marsha was referencing the economic downturn in 2008, and then their biggest fundraising year was in 2010.
I have a question as a business partner of all these agencies. I represent HCA Healthcare and The HCA Healthcare Foundation. Are any agencies beginning to think of ways that corporate partners could virtually volunteer? IT, Data Analytics, Marketing and Communications, Legal etc...As a business partner I would love to share opportunities how we could still support the mission.
@Cassie - CNM can help you with specific questions like these via some of our crisis-relief programming, including educational offerings and consulting, free of charge. Feel free to reach out to me, CNM's Director of Development: email@example.com
@Reno, that's a great opportunity to engage with our friends at Hands on Nashville.
@Reno, Hands on Nashville is working on that via their GeekCause program. Reach out to Monica@HON.org
@Erik, we are going through the same decision-making process. If you have made/make a cut during the eight-week "forgiveness" period, you have until June 30 to bring them back.
Thank you all!
CNM Thanks for doing this......helps make us feel stronger...
Thank you Terri. Wonderful session.
Thank you - great ideas and wisdom!
Melissa Spradlin (Book'em)
Thank you all!
Thanks Tari, CNM, and speakers!
Thanks to CNM. Appreciate the efforts to bring us together.
thanks! good info!
Thank you, Terri, and to all of the panel!
All the resources Tari is mentioning will be available at our resource page: https://www.cnm.org/crisis-response/