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OKCNP Wednesday Consultant Help Line - Shared screen with speaker view
jwright@okcnp.org
31:19
Jerry Wright – 405-286-6238 – jwright@okcnp.orgDJ Thompson – 405-254-5057 - djthompson@okcnp.orgJohnny Buschardt – 918-392-4459 – jbuschardt@okcnp.org
Jessy Poole
31:52
Good to see everyone’s faces again. I’d gotten used to seeing you during the PPPL webinars
jwright@okcnp.org
33:14
Today's presentation...
Kenny
37:57
will you discuss im a county gov entity not a 501-c3 are we eligible to apply?
jwright@okcnp.org
39:33
From the Grant Usage, OK Dept. of Commerce: Grant funds may be used for business expenses for which the business has not or will not receive reimbursement from another source such as other federal, state or city grants or insurance proceeds.
Kathy
40:26
Is this Relief Program money only used for payroll?
Kenny
40:32
if we received funding were not eligible for this program correct?
Kenny
41:36
PPP program
DJ Thompson
41:56
You ARE still eligible to apply if you received PPP.
jwright@okcnp.org
42:24
Oklahoma Dept. of Commerce Business Relief Fund web site: https://www.okcommerce.gov/doing-business/business-services/oklahoma-business-relief-program/
Diana Denny
42:25
Is the Revenue loss compared to our budget or compared to what we brought in last year?
jwright@okcnp.org
42:53
@Diana, losses are compared actual to actual numbers, not budget
Diana Denny
43:17
Thank you
Thrive Inc.
43:35
ACtuals to actuals - meaning that period this year vs that period the previous year?
jwright@okcnp.org
44:36
@Thrive, correct actuals to actuals vs. the period the previous year. You will have to document this to your lending institution.
Thrive Inc.
44:47
Thanks!
Jenny Dunning
45:40
Is the time frame of loss of income limited to March-May of 2020? We lost some income because we could not have our fundraiser and loss huge funds because we were forced to cancel our summer program with runs may-july
jwright@okcnp.org
47:46
One of the discussions with the OK Dept. of Commerce is to allow organizations to choose another time frame to measure the loss. As nonprofits, we often have large events or funding come in different time periods. This is not approved yet, but we are making this suggestion.
jwright@okcnp.org
48:13
Jerry Wright – 405-286-6238 – jwright@okcnp.orgDJ Thompson – 405-254-5057 - djthompson@okcnp.orgJohnny Buschardt – 918-392-4459 – jbuschardt@okcnp.org
jwright@okcnp.org
49:29
The answer for ownership is: The application asks who is your "Owner." We suggest you fill in "None-501c3 charity."
Tammy S At Clark
49:34
If you have been fortunate to meet/exceed your fundraising goals and only experienced loss in your actual program revenue - which is significant and would meet the loss requirements - is this still an appropriate situation to apply?
sharon neuwald
49:35
is the powerpoint presentation uploaded yet? thanks sharon
jwright@okcnp.org
50:27
Today's presentation...
DJ Thompson
50:47
Tammy - yes I believe so if I understand what you're asking. The will look at gross figures for the entire organization.
Tammy S At Clark
51:15
Thanks, DJ!
jwright@okcnp.org
51:57
@Tammy Total revenue is considered for the loss in excess of 25% so if your fundraising when added to all other revenue does not meet the 25% loss threshold, you would not qualify.
sharon neuwald
52:22
thanks Jerry
jwright@okcnp.org
52:54
Love the questions! Keep them coming and be ready to unmute during our Q&A.
Tammy S At Clark
52:57
Thanks, Jerry!
Moises Echeverria
53:37
Can you clarify if revenue includes donations made to the organization?
jwright@okcnp.org
54:04
@moises, YES! donations must be included in total revenue comparisons
Moises Echeverria
54:12
Thank you!
Velvet Brown
55:00
Hello Jerry, is this funding just for those who have w2 employee's in the non-profit?
Tammy S At Clark
55:16
Are the PPP funds received included in overall revenue?
Kathy
55:33
Can the PFI charge you the $500 for submitting the application even if you do not receive the money?
jwright@okcnp.org
55:53
@Velvet Yes, the measurement is based on actual payroll dollars for two months average payroll
jwright@okcnp.org
56:36
@Kathy, This would be a question for your lending institution. I would assume that they cannot charge the fee unless you receive the money, similar to any other loan application.
Velvet Brown
56:49
So, then if the non-profit has contractors, they would have to apply on their own, is this correct?
Kathy
56:54
What if I have not payroll, because at this point we do not have any employees? Can I still apply?
Chris
57:19
Are the PPP funds received included in overall revenue?
jwright@okcnp.org
57:39
@Velvet, Eligible business types include but are not limited to sole proprietorships, independent contractors, partnerships, corporations and nonprofit entities such as 501(C)(3) and 501(C)(6).
jwright@okcnp.org
58:50
Link to the 2pm Commerce Zoom call. EDOs/ Non-profits 2 PMWednesdays https://okcommerce.zoom.us/j/99730772301 997-3077-2301
Kiona Millirons
01:01:30
Does the PPP count against us as far as total revenue?
Moises Echeverria
01:03:19
PPP is a loan and accounted as a liability not revenue
Moises Echeverria
01:03:58
Our banker does not a have a process to apply for forgiveness of PPP yet.
Moises Echeverria
01:04:13
I keep bugging them about it, and they've assured me that they will give me the information as soon as they have it
michelle
01:04:28
are you going to post this on your page to be able to watch? I missed the beginning!
Brian Paschal
01:04:29
Same for me, Moises.
jwright@okcnp.org
01:04:37
Must have suffered a revenue loss of 25% or morefrom March through May of 2020 due to reasonssubstantially related to COVID-19.
jwright@okcnp.org
01:05:05
Grant amount equal to two months of averagetotal payroll based on either:- Average of 2019 total payroll; or,- Average of January-February 2020 total payroll- Payroll definition is the same as the federalPaycheck Protection Program
James Rosson
01:05:55
We rely totally on donations, and have no revenue from business. Do we still qualify?
Moises Echeverria
01:07:13
Can you repeat how many non profits applied for the program, how many received the program and how much money was received by non profits?
Brian Paschal
01:07:42
DJ what was the guidance on including earned income?
Jessy Poole
01:07:55
As a public charter school we have state per student revenue and private fundraising. Would our 25% figure be taken from all revenue or can we isolate it to private fundraising?
DJ Thompson
01:08:02
Do include earned income if you have it.
Brian Paschal
01:08:07
Thank you
DJ Thompson
01:08:30
ALL revenue
Jessy Poole
01:08:37
Thanks!
Chris
01:08:48
We have a banquet fundraiser that we do every year in the fall and it is a major source of our income but we will be cancelling it this year. Are we able to add this to our application for this future loss to be taken into account?
Moises Echeverria
01:08:48
What's your stipulation about the number of applications already in the system waiting for the additional funding for this program?
James Rosson
01:08:53
Thanks for the great info!
sharon neuwald
01:10:58
how could you ever know in the future
jwright@okcnp.org
01:11:38
Grant funds may be used for business expenses for which the business has not or will not receive reimbursement from another source such as other federal, state or city grants or insurance proceeds
Regina Randall
01:12:00
This application is titled as a "pre-application." Will there be another application to complete?
sharon neuwald
01:12:39
thank you
Up With Trees
01:12:56
On the "going concern" question - is it a going concern if you may go out of business or is it if you are not going out of business? Just clarification on how to mark that question.
Moises Echeverria
01:14:20
My financial institution just had an extra form to complete which was very simple. There was no indication from them that there would be additional paper work to complete.
Ross Faith
01:17:13
that would be great!
jwright@okcnp.org
01:19:29
EDOs/ Non-profits 2 PMWednesdays https://okcommerce.zoom.us/j/99730772301 997-3077-2301
Velvet Brown
01:22:10
Is there a place for independent contractors to get any assistance so we can inform them?
Moises Echeverria
01:22:26
Do you anticipate when then extra funding for this program will become available?
DJ Thompson
01:22:43
@Velvet they can apply through the same process organizations are applying
DJ Thompson
01:23:29
@Moises not yet......hopefully August.
Jessy Poole
01:26:02
So this grant would cover costs incurred during the March-May period, or can it go toward upcoming costs - especially those related to COVID 19 mitigation?
Kim
01:26:40
I have a pretty specific set of questions, I think I'll email. :o)
Velvet Brown
01:27:02
Thank you
jwright@okcnp.org
01:27:06
Jerry Wright – 405-286-6238 – jwright@okcnp.orgDJ Thompson – 405-254-5057 - djthompson@okcnp.orgJohnny Buschardt – 918-392-4459 – jbuschardt@okcnp.org
sharon neuwald
01:27:40
Yes to Jessy’s question
jwright@okcnp.org
01:27:56
www.okcnp.org/coronavirus OKCNP COVID Resource Page
Regina Randall
01:29:03
Thank you so much!
Jessy Poole
01:29:12
Thanks. Always really appreciate these!
Susan
01:29:17
Thank you
Jenny Dunning
01:29:34
Be safe and well! Thanks for all. Your time and care!