ARLA/CLUSTER: AMSAT recebe fundos de apoio a pequenas empresas durante a pandemia do Covid-19.

[João Costa > CT1FBF]

AMSAT receives PPP funds during COVID-19 pandemic

On March 31, 2020, AMSAT's Board of Directors authorized the organization's
leadership team to pursue relief afforded by the Coronavirus Aid, Relief,
and Economic Security Act (CARES Act).
Pursuit of this relief was in accordance with the Directors' fiduciary duty
to pursue all funding sources available to sustain AMSAT's operations.

AMSAT has received funds under the CARES Act's Paycheck Protection Program
(PPP). Participation in this program gives us certainty that AMSAT will be
able to continue uninterrupted service to our members during these
uncertain economic times.

It helps AMSAT offset cash flow losses due to the pandemic and avoid
dipping into our reserves. Using reserves at this time would incur
substantial realized losses due to fluctuating investment market conditions.

Receiving the PPP funds also allows AMSAT to continue paying Martha,
AMSAT's Office Manager of over 40 years, even though our physical office
remains closed.

Although AMSAT remains in a healthy financial position with a strong
balance of cash and reserves, the current economic situation and loss of
events like Hamvention and Ham-Com will likely continue to negatively
impact donations and membership renewals.

AMSAT's senior leadership team continues to pursue avenues to reduce
operational costs such as the recent successful roll out of the Wild
Apricot membership management portal.

*Clayton Coleman, W5PFG*
AMSAT President
-------------- próxima parte ----------
Um anexo em HTML foi limpo...
URL: http://radio-amador.net/pipermail/cluster/attachments/20200521/3bf30f65/attachment.htm