FEBRUARY 19, 2021
The Small Business Administration (SBA) posted a major development to its website today, confirming that lost “Earned Revenue” will be the measurement in determining which Priority Period an organization qualifies for in awarding Shuttered Venue Grants.
This is welcome news to our nonprofit arts members because you will not be required to include your contributed revenue in the calculation to determine if you had at least a 90%, 70% or 25% revenue loss between April 2020 through December 2020, in comparison to 2019. Please also note, none of the federal CARES Act funds need to be included in the revenue calculations either.
The following chart was posted on the SBA’s Shuttered Venues Website, February 19, 2021:
Other Shuttered Venue Operator Grant (SVOG) News and Resources:
Lauren Wagner
Director | Long Island Arts Alliance
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