âIncredible Generosityâ for 2020, But Some Are Frettingâ What Will 2021 Look Like?
December 10, 2020
This article originally appeared in Jewish Insider.
The American Jewish communityâs network of approximately 9,500 nonprofit organizations has largely avoided collapse during the COVID-19-spurred slump that has caused many for-profit businesses to shut down or significantly shrink.
The federal governmentâs Paycheck Protection Program, which allowed businesses and nonprofits to obtain forgivable loans if they kept staff on payroll, ended in August.
Making the difference now, experts say, are the American Jewish philanthropists who have stepped up to support the nonprofit system. Foundations are dipping into their endowments to provide additional funds to support camps, Jewish schools, human services agencies and others â well beyond what they anticipated when originally planning their 2020 budgets.