CEO DATELINE - ASAE announces week-long push for federal aid for associations
CEO DATELINE - ASAE announces week-long push for federal aid for associations
- June 8, 2020 |
- Walt Williams
ASAE is planning a week-long effort to call attention to the plight of 501(c)(6) associations, which are finically struggling but are not eligible for the federal aid available to small businesses and other nonprofits.
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The group announced Friday it will hold a virtual "American Associations Week" from June 15-18 "to build support for much-needed legislative assistance for America's trade and professional associations during the COVID-19 pandemic." Specially, ASAE is pushing for Congress to make 501(c)(6) association eligible for forgivable loans under the Paycheck Protection Program.
"Like the industries and professions they represent, associations find themselves in financial hardship as a result of the COVID-19 pandemic," ASAE CEO Susan Robertson said. "Associations need access to emergency federal assistance to continue to support the industries and professions that will put the U.S. and world economy back to work when this crisis abates."
Trade groups, chambers of commerce and many professional societies are incorporated under section 501(c)(6) of the tax code, and therefore can engage in more political lobbying than some other types of tax-exempt organizations. But this status makes them ineligible for the PPP loans under current Small Business Administration rules. Associations incorporated as 501(c)(3) groups are allowed to apply for the PPP loans. ASAE said it has scheduled various events throughout the week to highlight what associations are doing for their industries and how they are providing critical research and data needed for policymaking.
ASAE also plans to provide "a robust package of materials, social media messaging and other tools to help enhance our community's voice during the week-long virtual fly-in."
More information about American Associations Week can be found on ASAE's Power of A website.
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