Lion EA Posted April 5, 2020 Report Share Posted April 5, 2020 I'm an assistant treasurer (mostly pay bills online) in my little church. Suddenly the treasurer and priest and past treasurer are emailing me as they apply for a PPP to continue to pay our part-time employees: priest, secretary, and music director (who's my hubby, so they guess I have a vested interest in getting this loan!). They want to know our ownership structure, ownership percentage, SS#s of owners, etc. We're an Episcopal church and have our own EIN for payroll. We have elected officers (Vestry), but they aren't owners. We belong to CT's Diocese (ECC) and the national church ECUSA), but they don't pay our employees; although, the Diocese does hold our real property in trust on behalf of Emmanuel. How do we answer the banks questions about ownership structure, ownership percentage and SS#s of owners? Have you dealt with this yet in practice or in webinars? The best I've found is franchises that apply under their own EIN and not as part of the parent franchisor. But, a franchise is an entity registered with its state, a partnership or corporation or even a SMLLC. What is a church to a loan officer or to the federal government? Quote Link to comment Share on other sites More sharing options...
Lee B Posted April 5, 2020 Report Share Posted April 5, 2020 Check the national church financial/accounting websites. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 5, 2020 Author Report Share Posted April 5, 2020 Apparently the treasurer and priest and past treasurer did that this past week. That's how they were told that little Emmanuel is a trust and to use the CT Diocese as the trustee and use the CT Diocese's EIN. None of that sounds right to me. Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted April 5, 2020 Report Share Posted April 5, 2020 Can't they just go on unemployment and keep it simple? 1 Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 5, 2020 Author Report Share Posted April 5, 2020 With deferred payments (6 months?) and low interest (1%) and potential forgiveness, even for the 25% that can be non-payroll, it's a good deal to try to keep a biz afloat until people can shop and work and go out again. 1 Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted April 8, 2020 Report Share Posted April 8, 2020 On 4/5/2020 at 10:47 AM, Lion EA said: and use the CT Diocese's EIN. None of that sounds right to me. Me neither. I applied to today for our parish following guidance form our diocese which I have attached. Entered n/a for most ownership and ssn questions. This comes from a Catholic Diocese but that should not make any difference. EIDL Grant Application Notes.pdf Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted April 8, 2020 Report Share Posted April 8, 2020 1 minute ago, DANRVAN said: . EIDL Grant Application Notes.pdf 463.71 kB · 1 download Whoops, just realized you are talking PPP instead of EIDL Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 8, 2020 Author Report Share Posted April 8, 2020 Thanks, Dan. Treasurer is looking into EIDL as well, so I'm passing this on to him. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted April 8, 2020 Author Report Share Posted April 8, 2020 I finally looked at the list of resources on the web page for the Episcopal Church of CT: https://www.episcopalct.org/covid-19-coronavirus-updates/covid-19-financial-resources/ Without clicking on the above link, you can use your own browser to search for Episcopal Church in Connecticut. The COVID-19 link will schroll across the page. Quote Link to comment Share on other sites More sharing options...
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