In the United States, where YMCAs have furloughed 70% to 90% of their employees as a result of the COVID-19 crisis, smaller Ys are benefiting from the Government’s Paycheck Protection Program, designed to incentivise small business (up to 500 employees) to keep their workers on the payroll.
The scheme provides loans to organisations of 2.5 times their monthly payroll. If all employees are subsequently re-employed, the entire amount is written off – if some employees are made redundant, a portion needs to be paid back. The Program is currently closed to applications, however Congress is expected to decide whether to release a further US$250 billion in the next week.
In parallel, YUSA and local Y CEOs are advocating to Congress to provide US$60 billion to not-for-profits in the next funding bill. This funding could support large Ys (over 500 employees) where there is currently a government assistance gap.