Under the terms of the SVOG program, recipients aren’t required to repay the funding as long as funds are:
Used for eligible purposes
Used by the dates specified for each respective program
Not-for-profit entities should account for government grants in accordance with the Contributions Received subsections of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 958-605, Not-for-Profit Entities—Revenue Recognition.