Page 42 - BusinessWest February 3, 2021

Lenox
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est again, people will also have more awareness of all the recreational opportunities Lenox has,” he told Busi- nessWest. “That’s a big positive for us as we look to the future.”
While Nacht hopes to see Tangle- wood up and running, at least in some form, in 2021, she admits the past year was quite the learning experience. “We are so dependent on Tanglewood, it
Forbes DiStefano
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ment and finance — to guide Square One through the next chapter in its long history.
While doing so, she must first con- tend with the pandemic, which has tested the agency in myriad ways. Overall, she said it has been Square One’s goal to create a calm, safe place in the midst of the pandemic, and in most all ways, it has been successful in that mission.
“We’re making decisions minute
by minute about the health and safety of everyone at Square One,” she said. “What we have done very well is read, digest, interpret, and then operational- ize all the CDC and DPH guidelines for health and safety. We don’t want you to be in crisis when you’re here at Square One. We understand that there’s a crisis going on our world, but our job, every single day from 7:30 to 5:30, is to create a stable, warm, non-crisis, non-trau- matic environment for children to be able to learn and thrive.”
Meanwhile, Forbes DiStefano said she, Allard, and other members of the leadership team are focused on “expanding what we do well.”
That broad phrase includes early- childhood education, obviously, but also other services, including those focused on the mental health of chil- dren, needs that have only grown dur- ing the pandemic.
“With 100% of our families experi- encing something, whether it’s poverty, hunger, or homelessness, we know that the majority of our children have experienced some level of trauma at some point in their life,” she explained,
Fine Print
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penalty, if the borrower does not need the funds or secures other financing.
For most borrowers, the require- ments may be routine considerations, but for others, these may be new requirements.
PPP
In the fine print of the PPP loan documents are also provisions that the borrower should consider, as follows:
• For borrowers who received a PPP loan greater than $2 million, the SBA has indicated it will likely audit those
was an interesting test to see what we could do without Tanglewood there.”
Despite the challenges put on municipal budgets, Ketchen said Lenox was able to pursue several modest infrastructure projects in 2020, such as maintaining roads and public-utility infrastructure. “When folks are ready
to come to Lenox for the recreation and the culture, the public utilities and infrastructure will be waiting for them.”
In short, Lenox is not only weather- ing the COVID-19 storm, it’s finding
ways to come out stronger on the other side. Indeed, when this community, which depends on cultural tourism, was challenged to find creative solu- tions to stay afloat, it answered the call. Nacht credited Lenox businesses for making quick and significant adjust- ments in their operations.
“It was really inspiring to see our businesses make the best out of a not- so-great situation,” she said. “It says
a lot about their commitment to our town.”
Undaunted by the near future, Nacht noted several businesses are planning for April openings. And she looks forward to the new year knowing that Lenox can present all the outdoor events that worked well in 2020.
“With knowledge, you just learn to do things better, and we learned a lot last year,” she added. “Once the tulips come out, that’s when we start to see everything come alive again.” u
made at Square One in the last five years.
“What we’ve created is a space where children can come with their peers,” she went on, adding that, instead of one-on-one therapy, there are group activities, such as games and book reading. “Everyone is experienc- ing some level of healing; it’s children helping each other learn how to cope, have healthy reactions, and reduce
the triggers. And teachers are learning as well; they’re watching the therapist engage with the children.”
Bottom Line
Moving forward, Forbes DiStefano said it’s her goal — and now her job — to build on the solid foundation that’s been built at the agency and continu- ally look for new ways to carry out the overriding mission: to improve quality of life for children and families. And there are many aspects to that work.
“It’s my job to welcome everyone to the table, make sure that our services are working seamlessly, and then find opportunities to bring new partners, new donors, new investors, and new ways of thinking to build on the good work that exists here,” she said.
That’s all part of managing Square One with that mindset, and with that balance, she described earlier.
As she said, ‘nonprofit’ is a tax sta- tus; it’s not a way to do business. u
George O’Brien can be reached at [email protected]
loans. The navigation becomes increas- ingly more difficult when the require- ments continue to change and the funds have already been received and used to operate the business.
With the second round of PPP fund- ing recently released and requirements more recently clarified, reading the fine print should hopefully not be such a daunting or surprising task. u
Julie Quink is managing partner with West Springfield-based Burkhart Pizzanelli; (413) 734-9040.
Joan Kagan (left) gave Dawn Forbes DiStefano the opportunity to move from grants and finances to a shared-leadership role — paving the way for her to take the reins.
noting that Square One has, in recent years, expanded what would be consid- ered traditional mental-health services — referrals to therapists — with an early-childhood mental-services center called Cornerstone.
Launched as a pilot program, the
borrowers for compliance with spend- ing requirements;
• Although Congress has confirmed that the proceeds of the PPP loan are not taxable and the expenses paid with PPP are deductible, some states, such as Massachusetts, are not following the federal laws relative to forgiveness of the PPP loans as they have their own rules. For individuals in Massachusetts, the loan forgiveness is taxable income. This affects sole proprietors, S-corp shareholders, and partners of partner- ships. A bill, co-sponsored by state Sen. Eric Lesser, state Rep. Brian Ashe, and five other co-sponsors, has been pro-
center has grown in size, scope, and services.
“It’s designed to be both a physical and a social/emotional space — you can’t help but feel calm when you walk in,” she explained. “And I think it’s the most outstanding achievement we’ve
posed to allow for non-taxability of the forgiveness amounts in Massachusetts;
• Depending on when the PPP loan was funded, the borrower may have a repayment term of two or five years for the loan; and
• Although forgiveness may be granted, the borrower should retain the records used for forgiveness. Generally, most records should be retained for seven years.
Bottom Line
Navigating the fine print is key for those who received the PPP and EIDL
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