Every day, nonprofits of all sizes work across the country to provide education and economic opportunities to families in need, assist victims of disaster, and enhance the cultural and spiritual development of individuals and communities.
In additional to supporting broader relief for the nonprofit sector, the American Heart Association is leading various campaigns in support of nonprofit relief during the coronavirus epidemic. Our efforts are focused on expanding programs that would positively impact the charitable sector during these challenging times. The two initiatives we are leading on are increasing charitable giving by seniors and providing loan relief to mid-size and large nonprofits.
Legacy IRA Act
The American Heart Association is leading other charitable partners in support of the Legacy IRA Act. This bipartisan, bicameral legislation will expand seniors’ opportunities for tax-free, charitable gifts directly from Individual Retirement Accounts (IRA) to eligible charities, including AHA.
See the Legacy IRA Act Page for more detail.
Main Street Lending Program
The American Heart Association is leading other mid-sized nonprofits (500 to 10,000 employees) to create a separate lending program at the Federal Reserve, similar to the Main Street Lending Program set up to help small, medium, and large businesses. And just as smaller nonprofits were eligible for forgivable loans through the Paycheck Protection Program, we are advocating that Congress apply the same model to larger nonprofits. Every dollar used toward loan and interest repayment is a dollar diverted from helping people in our communities, therefore it is imperative to the nonprofit sector that loan forgiveness be available to all mid-size nonprofits.
See the Main Street Lending Program Page for more detail.