ASAE Calls for More Association-Specific Relief for COVID-19 Impacted Organizations
April 7, 2020
ASAE applauded Congress for swiftly constructing a $2.2 trillion emergency coronavirus relief package while calling on policymakers to include more association-specific relief in a fourth relief package currently taking shape.
A review of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, shows that Congress allocated extraordinary relief for individuals, small businesses, corporations, hospitals, state and local governments and 501(c)(3) nonprofit groups, but few provisions that directly assist trade and professional associations experiencing severe revenue losses as a result of the COVID-19 pandemic. Many associations have had to cancel large meetings, trade shows and other in-person events due to the pandemic, and others are experiencing the same operational shortfalls that have befallen large and small businesses in recent weeks.
These two provisions in the CARES Act apply for 501(c)(6) associations:
- An employee retention payroll tax credit available to businesses that have seen at least 50 percent reduction in revenue in the first quarter of 2020 compared to the first quarter of 2019, among other qualifying conditions
- Emergency Economic Injury Disaster Loan (EIDL) grants that can be used for payroll costs, rent or mortgage payments, or repaying obligations that cannot be met because of revenue losses
“Fortunately, there are a couple of avenues Congress has provided for associations to obtain assistance in these difficult times, but we need more,” said ASAE President and CEO Susan Robertson. “Many associations are already experiencing extreme financial losses directly tied to the coronavirus pandemic, and more difficult decisions for these groups are on the horizon. ASAE calls on Congress to include association-specific relief in the next legislative relief package that is negotiated.”
A fourth relief measure will reportedly take shape over the next several weeks. In a sign-on letter sent to Capitol Hill on April 3, ASAE and nearly 3,000 organizations across the country called for additional aid for associations experiencing financial losses from cancelled meetings and events, and specifically, allowing 501(c)(6) groups to be eligible for small business interruption loans to prevent layoffs and continue paying employees. ASAE has also suggested Congress create a pandemic risk insurance program to create a federal backstop for prospective insurance claims related to a pandemic or epidemic.
To learn more about ASAE’s efforts and access its coronavirus resources page, go here.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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