Redpath Insights

The Minnesota Disaster Recovery Fund and the Novel Coronavirus

by Cathy Lydon, CPA

March 19, 2020 - The Saint Paul and Minnesota Foundation has established a donation site to collect and redistribute funds to be allocated for coronavirus response efforts by the nonprofit community in Minnesota.

Learn more and donate on their website.

โ€œThe Minnesota Disaster Recovery Fund (MDRF) for coronavirus funds both short and long-term needs that arise within communities as a direct result of the coronavirus pandemic. Fund contributions will be directed to local community foundations, Minnesota Initiative Foundations and intermediaries. Funds will then be distributed by the community foundations or intermediaries.โ€

 Quick Facts About the Fund

Funds will be distributed by community foundations, Minnesota Initiative Foundations or intermediaries for needs that arise for individuals and families due to the impact of coronavirus. This may include nonprofits that are seeing increased demand for services or are struggling due to social distancing recommendations; and small businesses that have interrupted operations.

  • 100% of fund contributions will be distributed to grant-making organizations for disaster recovery efforts in the state of Minnesota
  • Any remaining MDRF funds will be dedicated to recovery efforts for future disasters in Minnesota, after all coronavirus needs are met
  • No fees will be taken by either the Saint Paul & Minnesota Foundation nor the Minnesota Council on Foundations for this work
  • Funds will go directly to community foundations, Minnesota Initiative Foundations or other intermediaries that have an existing grant-making process in place

You can learn more about the fund, see how to participate as a nonprofit, donate today, or learn about their advisory committee on their website.

COVID-19 CARES Act

Cathy Lydon, CPA

Cathy Lydon, CPA

Cathy Lydon is a director and leads the not-for-profit and governmental industry team at Redpath and Company. She has been in public accounting since 2004 and specializes in working with not-for-profit organizations. Cathy has extensive experience performing financial audits and Federal single audits in accordance with Uniform Guidance. Her audit experience also includes governmental entities, charter schools, healthcare, DEED Extended Employment Program Compliance audits, and employee benefit plan audits. Cathy has been a member of the Redpath team since 2008. Cathy is a holder of The Advanced Single Audit Certificate issued by the AICPA. The Advanced Single Audit Certificate requires the ability to evaluate and analyze the core concepts related to client acceptance, engagement planning, engagement analysis, concluding an engagement, and guiding principles for single audits at an advanced level as outlined in the AICPA Competency Framework: Governmental Auditing. Relevant continuing professional education includes the annual AICPA Not-for-Profit Industry Conference and the annual MNCPA Not-for-Profit Conference.

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