Nonprofit

New PPP Guidance from the SBA Regarding Good Faith Need Certification

On May 13, the SBA released new guidance regarding the required good faith certification of need by PPP loan applicants, providing safe harbor to all recipients of less than $2 million in loan proceeds.  This guidance also speaks to ramifications for borrowers with loans of more than $2 million that are determined to have lacked…

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Surviving Technology Overload During Quarantine

The COVID-19 quarantine has been going on in the tri-state region since the first week of March, and is nothing like we have ever experienced before.  For most of us that means we’ve been home-bound for seven weeks give or take. For those of you like me, that’s a long time to be stuck in…

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The Role of the Board During Crisis

Whether it’s a cyber-attack, an executive’s misconduct or the health and economic crisis resulting from COVID-19, the Board of Directors plays an important role in helping its organization navigate and survive the challenges ahead.  In response to the COVID-19 pandemic, certain government-mandated restrictions and limitations have triggered sudden and profound economic impacts that have forced…

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Managing Director Frank Pina Co-Authors Article for Fraud Magazine

Managing Director Frank Pina, CPA, CFF, CFE, CGMA, Co-Chair of Mercadien’s Forensic & Litigation Support Group, authored an article on Drexel University’s Fraud & Internal Control Case Competition with Barbara Murray Grein, CPA, Associate Professor & Head of the Accounting Department at Drexel University, for the May/June issue of the Association of Certified Fraud Examiners…

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Paycheck Protection Program (PPP) Loan Forgiveness Implementation Guide

The PPP Loan Program Evolution Owners of numerous small businesses, including those who are self-employed, applied for potentially forgivable loans under the Paycheck Protection Program (PPP) created as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act. This program was designed to incentivize employers to maintain payroll and employee headcount throughout the COVID-19…

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Sherise Ritter Presents Webinar for HITS Consulting – Post COVID-19: Resuming Your Practice After the Pause

Sherise D. Ritter, CPA, CGFM, CGMA, PSA, Managing Director & Co-Chair of Mercadien’s Nonprofit & Human Services Group, was a featured speaker in HITS Consulting’s April 30th webinar – Post COVID-19: Resuming Your Practice After the Pause. Along with Roy W. Breitenbach, Partner/Director, Garfunkel Wild, PC, Sherise shared vital insights about the legal and financial…

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Cash Flow Considerations for the “New Normal”

Due to COVID-19 and its effects on the economy, a major concern for all businesses is liquidity.  Preserving cash flow should be a focus for business owners, whether they are temporarily closed for business or operating at reduced capacity. The ever-evolving fall-out from the COVID-19 crisis will continue to impact all organizations, but it’s difficult…

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Paycheck Protection Program Reloaded

On April 24, 2020, President Trump signed another Coronavirus relief package into law that included an expansion of the Paycheck Protection Program (PPP), making an additional $310 billion available to qualified applicants. The Small Business Administration began accepting new PPP applications on Monday, April 27, 2020. Although the additional funding is good news for many…

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A Discussion on COVID-19 & Its Impact on Organizations

Mercadien Managing Directors Kyle Neeld, Lee Boss, Sherise (Sherry) Ritter and Frank Pina all sat down online and had an open discussion answering frequently asked questions as it relates to the COVID-19 crisis and the impact it is having on organizations. Below are the highlights that came out of that discussion. Frank: What prompted Mercadien…

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PPP came through for me! Now what do I do?

Owners of numerous small businesses applied for potentially forgivable loans under the Paycheck Protection Program (PPP) created as part of the CARES Act, designed to incentivize employers to maintain payroll and employee headcount during the COVID-19 crisis. If you had the good fortune of getting approved for funding at this point, brace yourself for what…

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