The Paycheck Protection Program (PPP) loans were established by the CARES Act and the rules for forgiveness are still changing. It is recommended that all nonprofits have a statement in place detailing the need for the loan in case it is required. As you may know, PPP loans may have to be repaid if the need cannot be substantiated.
Learn more about accounting for nonprofits in the Sunshine Certificate in Nonprofit Management class online on May 23.