All the nonprofit associations (like all the professional and business associations) are busy writing recommendations to the Obama administration. Unsurprisingly, most of them call for more funding to their own areas.
If you’re only going to read one summary of what the bailout might mean to nonprofits, we recommend Rick Cohen’s cogent breakdown, "What Can Nonprofits Look Forward to in the Economic Stimulus Bill." One of the points he makes is that
The headline at the Council on Foundations’ public policy site is not about the stimulus package but about increasing tax incentives for charitable contributions, such as their support for the IRA Charitable Rollover Incentive which supports gifts of $100,000 or more from IRA accounts.
The National Council of Nonprofits (formerly the National Council of Nonprofit Associations) has a good brief summary of recommendations; we wish they hadn’t started with the Social Entrepreneurship Agency but we like their support for community nonprofits and their state and local government partners.