Published April 27, 2020 | Nonprofit 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
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
- The Ontario government is providing $200 million in social services relief funding to help protect the health and safety of the province’s most vulnerable people
- $20.1 million in support for Futurpreneur Canada to continue supporting young entrepreneurs across Canada
- 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.
- The Canada Emergency Wage Subsidy (CEWS) provides a 75% wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020
- The Government of Canada will provide $100 million of funding to food banks and local food organizations
- The Government of Canada announced an investment of $350 million to support vulnerable Canadians through charities and non-profit organizations that deliver essential services to those in need
- The Government of Ontario is investing $11 million to help Ontario’s most vulnerable, including seniors and persons with disabilities
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