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Ontario Trillium Foundation offers COVID-19 resources

Ontario Trillium Foundation offers COVID-19 resources

There are a number of government assistance programs and community supports that have been set up to respond to organizations and employees impacted by COVID-19. OTF has outlined information and resources that can help nonprofits during this time, including updates on funding support, webinars, and operational support. https://otf.ca/covid19-resources COVID-19 RESOURCES There are a number of […]

Published April 27, 2020 | News

There are a number of government assistance programs and community supports that have been set up to respond to organizations and employees impacted by COVID-19. OTF has outlined information and resources that can help nonprofits during this time, including updates on funding support, webinars, and operational support. https://otf.ca/covid19-resources

COVID-19 RESOURCES

There are a number of government assistance programs and community supports that have been set up to respond to organizations and employees/individuals impacted by COVID-19.

Support for organizations

New Annual General Meeting regulations for Ontario

The Government of Ontario announced increased flexibility for non-profit meetings. An Emergency Order was approved and applies to not-for-profit corporations incorporated under the Ontario Corporations Act (CA). Read more here.

The Emergency Order allows organizations to: 

Extend the deadlines to hold Annual General Meetings to 90 days after the state of emergency is ended by the Ontario government.

The Emergency Order is in effect province-wide and is retroactive to March 17, 2020, the day the Declaration of Emergency came into effect.

If the government ends the state of emergency within 30 days before your current deadline, then you have until 120 days after the state of emergency ends. 

Hold meetings of directors and members electronically or over the phone. Meetings have to allow people to communicate with each other simultaneously and instantaneously.

Government financial support

  • Access to credit – The Canada Emergency Business Account (CEBA) will provide interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced.

To qualify, these organizations will need to demonstrate they paid between $20,000 to $1.5 million in total payroll in 2019. Repaying the balance of the loan on or before December 31, 2022 will result in loan forgiveness of 25 percent (up to $10,000). 

Small businesses and not-for-profits should contact their financial institution to apply for these loans.

For more government updates, visit Canada’s COVID-19 Economic Response Plan 

For more resources and community supports from OTF, visit https://otf.ca/covid19-resources