Today, CNM hosted an event on the 2009 Stimulus Package in collaboration with Congressman Jim Cooper. Here is CNM President Lewis Lavine’s summary of this morning’s informative session:

Jim Cooper, Congressman for the 5th District in Nashville, spent a constructive hour with local nonprofit leaders this morning. Accompanied by nearly all his local staff, he explained the pros and cons of both the Stimulus Package passed by the Congress and the Omnibus Bill currently being debated.

The bottom line for nonprofits is that there is no rainbow here, no pot of money to solve our current budget difficulties. Stimulus funds, while massive on a national level, are break down quickly. One-third of the “funds” consist of tax reductions. Other large pieces of the pie are passing through traditional channels to schools, highway construction, and other uses.

Nonprofits will need to keep a close watch on local and state governments during the weeks ahead, since most of the “discretionary” funds will be channeled through them.

The Congressman promised make his staff available for assistance in understanding the flow of funds as it develops; lines of communications will remain open and we should not fear contacting his office.

We are grateful to him for his leadership in Washington and his straight message today.

Update: Bredesen Appoints “Special Assistant” to Manage Stimulus Funds