PPP Loans

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is far from the first thread on this topic and I have no idea why people are so angry about it. Why is it wrong for a school to take the money but fine for a clothing boutique or a pizza place? You’ll all be absolutely livid to know my church got PPP money too. Wah wah wah.

Do clothing boutiques or pizza joints have an endowment like Sidwell?

Exactly. This is criminal.

[Anonymous]

Anonymous wrote:The PPP money does make me uncomfortable. For the record, the teachers worked longer hours than ever. Not a complaint, just a statement. It was a grueling run from March 2020 through this past year. Including summer.

Teacher here same thing not a complaint just reality. It’s my job. But to see what my school got 😳ummmmm so where did that money go?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It is a shameful chapter, in particular for certain schools. I am embarrassed for my kid's school and decided a while ago I am not donating again. I pay the full tuition and they can figure out the rest at this point. The whole industry is over the top.

Doing the same at my school. I am shocked. We did not lose 2 million in revenue streams or spend two million on a hvac and dots for the ground. Anyone defending this is crazy.

100%

This is just embarrassing. These Heads of Schools are making between 500-800k/year while still paying teachers a non-DC area livable wage. The greediness is beyond the pale. Private school admission went sky high with Covid, especially in MoCo.

Kudos to the schools who had the integrity to not take or return the money.

[Anonymous]

So Sidwell not paying back the 5M? I don’t understand how the forgiveness worked.

[Anonymous]

Money is fungible so that money would allow a school to maintain or improve operations without need for tuition hikes or donations. That's how it worked, right? No tuition hikes or aggressive campaigns for donations.

[Anonymous]

Burgundy Farm took $2.4 million??!? Shocked.

[Anonymous]

Anonymous wrote:For people asking where the money went, it was earmarked for salaries, though it was fungible in principle. Many schools faced a loss in revenue from no aftercare and no camps during covid. Additionally, many schools had to overhaul hvac systems, buy new equipment such as addition iPads and chrome books. The PPP money helped offset these other expenses because money budgeted for salaries could help cover new unexpected expenses. Some schools also modified there spaces to allow for additional classrooms. While some savings occurred, covid also created a lot of new expenses for schools.

This is similar to our school's approach. They rely a lot on rental of the building for camps and other events, all of which came to a halt for essentially two years and really affected their budgets. And they used the money to upgrade the HVAC, pay for testing, and other COVID-related improvements and protocols that allowed them to get students back into the building much faster than other schools in the area.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a shameful chapter, in particular for certain schools. I am embarrassed for my kid's school and decided a while ago I am not donating again. I pay the full tuition and they can figure out the rest at this point. The whole industry is over the top.

Doing the same at my school. I am shocked. We did not lose 2 million in revenue streams or spend two million on a hvac and dots for the ground. Anyone defending this is crazy.

100%

This is just embarrassing. These Heads of Schools are making between 500-800k/year while still paying teachers a non-DC area livable wage. The greediness is beyond the pale. Private school admission went sky high with Covid, especially in MoCo.

Kudos to the schools who had the integrity to not take or return the money.

Disgusting! Agree. My sons school is on the list. There were auctions and donations kept pouring in, school was packed with kids who fled public. Who is making excuses for this. Kudos to schools who did the right thing .

[Anonymous]

Washington Episcopal, NPS, Green acres, Westminster, Sheridan school, congressional school lots of k-8 hit the piggy bank.

[Anonymous]

Bullis 4.2m 😳

[Anonymous]

Anonymous wrote:Burgundy Farm took $2.4 million??!? Shocked.

I am so curious how Burgundy spent this huge amount of money, besides the hand washing stations they added…

[Anonymous]

Anonymous wrote:

Anonymous wrote:Burgundy Farm took $2.4 million??!? Shocked.

I am so curious how Burgundy spent this huge amount of money, besides the hand washing stations they added…

Well according to the school officals who are on this thread it went to hvac you know and some signs and the other 1.5 hmmmm not to the teachers who did the heavy lifting😳

[Anonymous]

If the ppp went for converting to online curriculum and software programs for that, plus weekly testing, plus the hiring of more staff to do 10 kids per room.
True the general revenue from tuition was locked in, not sure what the fundraising or donation events did. Some went online.

[Anonymous]

Anonymous wrote:So Sidwell not paying back the 5M? I don’t understand how the forgiveness worked.

As long as orgs could demonstrate that they spent money on certain expenses then loans were forgiven, so a big requirement was showing that no employees had been laid off during the period covered by the PPP. For HVAC and such, there were a bunch of other grant programs paying for capital expenses. I work for an org that supports low-income students to apply to college, persist, and earn degrees. We also got pass-through money to give to our students and families.

[Anonymous]

My kids school got a huge amount, but I can well imagine what they did with it. They upgraded HVAC, invested in a lot of classroom technology for remote learning, rented tents for outdoor classrooms, and did weekly PCR testing of the entire school population. I really don’t think they lined their pockets, I think they used it for pandemic related expenses.