COVID-19 pandemic alters the landscape for Maryland nonprofits
The COVID-19 pandemic has become an economic tsunami for Maryland’s thousands of nonprofits, striking at their financial resources even as the demand for their services has escalated.
Organizations are beseeching donors to maintain their support, overhauling programs and shifting resources on the fly – all while seeking to protect the health of their own employees. “We are like spinning tops,” said Robin McKinney, co-founder and CEO of CASH Campaign of Maryland, which offers financial service programs to low- and moderate-income Marylanders.
To maintain their operations, nonprofits have joined small businesses in applying for low-cost loans or grants from the Paycheck Protection Program in the $2.2 trillion federal stimulus package. But, like many business owners, nonprofit executives say they are in the dark about whether they’ve been approved, how much they might receive and when the money will arrive. “We’ve applied, but we don’t know what’s going to happen,” said Sandy Washington, executive director of the nonprofit Lifestyles, Inc., which provides aid to homeless and other needy people in southern Maryland.
Source: The Daily Record