COVID-19 CRISIS: HELPFUL RESOURCES FOR THOSE AFFECTED

Claudia Schreier choreographing on dancers for Joffrey Ballet’s Winning Works competition
Courtesy of Joffrey Ballet
Photo by Todd Rosenberg

Has your income fallen or been cut off? A guide to help you during the coronavirus crisis.
If your income has fallen or been cut off completely, we’re here to help. This guide will connect you to the basic information you’ll need to get through this, including on government benefits, free services and financial strategies.

Read in The New York Times: https://nyti.ms/33vnSBV

The National Endowment for the Arts has compiled a list of useful resources for artists and arts organizations dealing with the pandemic. View their resource list here.

view the NEA’s CARES Act Guidelines here

Art Advocacy Digest’s Art Matters Newsletter shares frequent updates on the state of the Paycheck Protection Program and other Small Business Administration grants during the crisis. Subscribe to the newsletter here. See an example of Art Matters from April 21 here.

To support artists during the COVID-19 crisis, a coalition of national arts grantmakers have come together to create an emergency initiative to offer financial and informational resources to artists across the United States. Learn more about the Artist Relief grants here.

Track your stimulus payments on the IRS’ “Get My Payment” system.

Dance Business Weekly has been sharing articles for business owners in the industry, who are some of the hardest-hit individuals in the dance world. DDP will continue to post short summaries of these articles and links to the full versions in Dance Business Weekly throughout this crisis.

The Stimulus Bills Passed: How Can They Help Your Dance Business?

In the last two weeks, even as Congress passed various relief and stimulus bills, you may still be wondering exactly what help they bring. DBW has put together the following summary of these bills and their outcomes, which include cash for businesses, unemployment payments for gig workers and a new payroll protection loan that converts to a grant (and is also open to independent contractors and self-employed people).
SCORE to Hold Live Webinar to Answer Your Pressing Business Questions

DBW summarizes the SCORE webinar, “Coronavirus and Your Small Business: Live Q&A with SCORE Mentors,” which will take place on April 9, from 1 to 2:30 pm (EDT). SCORE is a small-business mentoring organization affiliated with the U.S. Small Business Administration. The organization’s webinar, which will be hosted by three presenters with diverse business backgrounds, will address “urgent questions you might have about how your business can weather the current crisis.” If you wish to tune in and submit your own business-related questions, you must register for the webinar here.

Levenfeld Pearlstein, LLC provides key insight into the federal government’s guidance for those taking leave during the COVID crisis:

What Are the Key Takeaways from the IRS’s New Guidance and the DOL’s Proposed Rules?

According to Philanthropy Women, Plan International Canada has called on governments and all responders to consider the unique needs of children, especially girls, during this crisis. The organization’s co-CEO explained that such consideration should include “strengthening the leadership and meaningful participation of girls and young women. Oftentimes, emergency and health responses focus on the needs of adults and children, ignoring the unique needs of adolescent girls who fall between a child and adult woman.” Read more here.

The Scope of the Art Industry (source: ART MATTERS via HMS Media)

Most recent estimates put us at 4.2% of the GDP, which is in excess of $800 billion, which is bigger than the manufacturing, transportation or warehouse sectors. Dollars spent on the arts have a significant multiplier effect on other businesses, like hotels, restaurants and parking garages, and for every consumer dollar spent on an arts, another nine get spent on those related businesses. That, plus the $9 billion we generate in federal taxes and the profound impact we have on health care, education, technology and other areas, makes us indispensable.

COVID’s EFFECTS

The CARES act, sweeping as it was, allocated approximately $300 million to the arts and humanities sectors (NEA, NEH, Library and Museum Services and other deserving institutions). And that’s great.

But as of Wednesday, the cultural sector has already suffered $4.5 billion in economic losses.

RECOMMENDED PROGRAMS

The Paycheck Protection Program: This is aimed to cover payroll. You can apply for 2.5x monthly payroll cost, and you’ll need to supply your bank with proof that you have these costs. Learn more here.
Economic Injury Disaster Loans: This is designed to give you a grant/loan within three days of application. The grant will provide $1K per employee for up to 10 employees, (i.e., max of $10K) which may be used for providing paid sick leave, maintaining payroll, meeting increased materials costs, rent, mortgage, repaying obligations due to revenue losses. Learn more here

Morgan Stanley Research put together a primer on the CARES Act in April 2020. Download their insightful analysis and review below.

CARES Act: A Primer