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5/28/2020 8:33:16 PM
 
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Section 5: OPA Board Subject: Parks and Board Out of Control Msg# 1084411
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Take a look at what the Ocean Pines Progress has reported on this. Might help to answer your question. Sorry I don't recall which article referenced your issue. Also I see the category "Other" as a flexible expansion, not as exclusionary.
You likely recall the discussion of volunteer Fire Depts being in both 501(c)(3) and 501 (c)(4) categories. Also there's quite a mixture within 501(c)(4) very different from the HOA's Organizations like ACLU, National Association for Women, etc are mixed in there. And the top line on the form likely identifies OP as a HOA. Plenty of disclosure, beyond checking of a box called "Other" Yet it now really makes little difference. All those technical issues have now become moot questions. |
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For reference, the above message is a reply to a message where: Tom, You are right. Once the SBA realized that their 96 auditors would likely not be capable of reviewing PPP loans over $2MM they gave safe harbor to all loans, short of phantom employers, under $2MM. But I can't reconcile how a a nonprofit 501(c)(4) HOA could decide that it was okay to apply for a PPP loan in the first place. You have this application in front of you and you see that only 501(c)(3) and 501(c)(19) are eligible. So you decide to check off "Other" and see what happens? |
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