For many nonprofits and their employees, temporary or total shutdowns and other financial impacts of COVID-19 and government COVID-19-related regulations were detrimental. Depending on their unique missions, some nonprofits saw an increased need for services while others were deemed nonessential or required heavy social distancing, which led to significant business interruptions for their day-to-day operations.
Charitable giving reached a record high of $471 billion in 2020, which is an incredible testament to the work and spirit of the charities themselves. However, as a result of this record giving year, many nonprofit organizations had no revenue decline during 2020 and/or 2021. We find all too often that because of this fact, many NPOs may still be under the incorrect assumption that they do not qualify for the Employee Retention Credit (ERC).
If your nonprofit experienced the following due to COVID-19, you may qualify for the Employee Retention Credit program.
A 50% or more decline in gross receipts in 2020 when compared to the same quarter in 2019 or a 20% or more decline in gross receipts in 2021 when compared to the same quarter in 2019.
A full or partial suspension of operations due to government issued orders, which might include:
After being made aware of the Employee Retention Credit by a private equity firm, we contacted EZ-ERC. They went through the multi-prong approach with us to claim our credits and we were shocked to find out there was a viable path to eligibility well into 2021. We felt confident with EZ-ERC’s expertise from the beginning and the process was smooth. They built a strong, well-documented case to present to the IRS and the timeline met our expectations. We are very satisfied with our experience with EZ-ERC.
EZ-ERC was exceptional to work with. Our representative carefully answered our many questions about the program and was extremely communicative throughout the process. The professionalism EZ-ERC’s team demonstrated is why we consistently refer business owners and volunteer organizations their way. We highly recommend contacting EZ-ERC to see what credits are available to you!
As a risk-averse non-profit organization focused on our community, we were very cautious in our approach to filing for the Employee Retention Credit but the experts at EZ-ERC eased our concerns. They took on the burden of hiring an outside law firm to provide legal analysis and provide additional assurance to support our position. EZ-ERC made the process very streamlined and simple, with clear instructions through every step, making data-gathering easy. The current combination of inflation and lack of affordable housing has dramatically increased the need for our services. This refund has made an enormous impact on our mission and allows us to help more members of our community!
When I was introduced to the team at EZ-ERC, I had already started the ERC filing process with another company. However, communication with the other agency had been inconsistent and information processing was extremely slow. I was immediately impressed with EZ-ERC’s knowledge of the program’s latest updates and eligibility qualifications. Once I switched to their firm, they really took a hands-on approach. As a business owner with a full schedule, it was a relief that they were able to complete a majority of the filing process on my behalf. Overall, the experience with EZ-ERC’s team was fantastic, and I highly recommend working with them. In fact, I have sent many of my colleagues their way and they have had a similar positive experience.
As a new business owner, COVID restrictions took a huge toll on my yoga studio. My retirement dream became grim through decreased membership and increased operational costs. My HR provider let me know about the ERC and that Yoga Six would be eligible for a quarter. After talking to other Yoga Six owners, I learned that my business may be eligible for additional quarters and I was put in touch with EZ-ERC. The team at EZ-ERC advised that my business was in fact eligible for the credit for additional quarters, and they assisted me through the process of obtaining our credit of over $100k. EZ-ERC walked me through everything, and although there is a lot of tedious paperwork, it was straightforward and EZ-ERC made it pretty dang easy. The ERC allowed me to avoid bankruptcy and pay myself back for the money I had to use to stay afloat during the COVID years – I tell all business owners I meet to look into the credit and learn more from EZ-ERC.
After learning about the ERC through other Right at Home owners, we reached out to our accountant for preliminary validation. Our accountant didn’t believe we qualified, which is when we were put in touch with EZ-ERC. After speaking with the team, we quickly learned we did qualify as our business of providing home care to the elderly and disabled was heavily affected by COVID restrictions. EZ-ERC helped us through the entire process of filing for our credit, they were on top of everything and kept us informed throughout every step. Receiving this credit has allowed us to pay off debts we incurred during the pandemic and helped us with hiring – which continues to be a struggle for business owners in this new post-pandemic world. We understand that other business owners are reluctant regarding the ERC, but we tell people that having a great firm to support them like EZ-ERC made it a no-brainer.
My experience with EZ-ERC was one of those rare business collaborations in which my organization’s needs were not only considered to be of the highest priority, but even after our work together had been completed, EZ-ERC continued to support us. Our credit came at a crucial time and made it possible for us to sustain operations and even grow. I have nothing but praise for the service, professionalism, and compassion demonstrated by the staff of EZ-ERC.