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From our friends at Americans for the Arts:
Federal Arts Funding
Note: This is a supplement to annual appropriations
- $75 million for the National Endowment for the Arts
- $75 million for the National Endowment for the Humanities
- Special note: Congress accepted our ask to waive matching grant requirements and to waive the requirement for grants to be project-specific. All these new fast-track grants will be for general operating support with no match.
- $75 million for the Corporation for Public Broadcasting
- $50 million for the Institute of Library and Museum Sciences
- $25 million for the Kennedy Center
- $7.5 million for the Smithsonian
Community Development Block Grants, Small Business Administration, and Unemployment Insurance
- $5 billion for Community Development Block Grants (CDBG) to cities and counties. Arts groups should work directly with their mayors and local economic development offices for grant support.
- $350 billion for Small Business Administration (SBA) emergency loans of up to $10 million for small businesses—including nonprofits (with less than 500 employees), sole proprietors, independent contractors, and self-employed individuals (like individual artists)—to cover payroll costs, mortgage/rent costs, utilities, and other operations. These loans can be forgiven if used for those purposes. This new eligibility has been a key element of the CREATE Act we’ve been pursuing;
- $10 billion for Emergency Economic Injury Disaster Loans (EIDL) for loans up to $10,000 for small businesses and nonprofits to be used for providing paid sick leave for employees, maintaining payroll, mortgage/rent payments, and other operating costs;
- Expanded Unemployment Insurance (UI) that includes coverage for furloughed workers, freelancers, and “gig economy” workers. The bill also increases UI payments by $600/week for four months, in addition to what one claims under a state unemployment program.
Charitable Giving Tax Deduction
- An “above-the-line” or universal charitable giving incentive for contributions made in 2020 of up to $300. This provision will now allow all non-itemizer taxpayers (close to 90% of all taxpayers) to deduct charitable contributions from their tax return, an incentive previously unavailable to them.
- Additionally, the stimulus legislation lifts the existing cap on annual contributions for itemizers from 60 percent of adjusted gross income (AGI) to 100 percent of AGI for contributions made in 2020.
