PPP Loans

[Anonymous]

Anonymous wrote:The problem is not the PPP loans for private schools. That makes sense. The problem was the PPP loans for charter schools. That made zero sense and seems like outright fraud.

Oh yes it is. These schools have huge endowments and did not need to to take the money. I applaud those that didn't and am ashamed for those that did. And on top of taking the loans they asked parents for their annual fund donations. What a crock.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't have a problem with this, and I'm not seeing anyone trying to explain why they believe these schools, who filled out the application and were granted the money under the conditions specified, should not have been allowed to do so. It cost a lot above normal operating costs to stay open under the conditions the CDC and local HHS required.

I see some who are mad that their public schools didn't use the money to stay open, but why does that mean private schools should not have been allowed to do so? It's great that some schools didn't need the money (some schools, like Holton, are seriously flush with cash), but others did need it to stay open and keep kids safely in school, which is what everybody wanted, right?

I do find the $5 mil to Sidwell puzzling and would be interesting in an accounting of that. It is the largest amount given to any school I could find.

It is terrible that public school in this area didn't use the funds to try to stay open. Many, many other public schools in other areas did. That doesn't make it "disgusting" that private schools made a different and better choice.

NP: just wanted to note, that staying open was not a requirement to have a PPP forgiven. We had to keep employees on and pay our bills, but there was no requirement about continuing to offer services or mode of services. I think the PPP program is flawed, but I don't fault institutions who applied and took the funds offered.

Of course you don't have a problem with this. You're an admin of a school that took the money.

I run a small non-profit that works with poor people and we run really lean. We are the type of org that people are likely thinking would need to be shored up during a crisis. I think a big reason that PPP looks ridiculous now is because it worked. My org was able to keep all staff fully employed. As it turned out, things did not get a grim as we feared and we would have been okay without the PPP, but it helped us stay confident.

[Anonymous]

For what it's worth, I just looked up the small non-profit of which I am the treasurer and our PPP loan is overstated in the ProPublic database by more that 100%. I'm not concerned about it because I know we are right with the SBA and our bank, but I'd take this database with a large grain of salt.

[Anonymous]

Here comes the cover up! Nothing to see here but we will have to raise tuition you know because of all the costs associated with Covid. Loan? What loan?

So admin and board members writing in why did some schools decide not to take this money? Seems like they realize it was wrong? In fact a Holton announced that was the reason. So……

[Anonymous]

Anonymous wrote: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.

The federal government and your health insurance paid for weekly Covid testing, not your school.

[Anonymous]

Anonymous wrote:

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😳

Embarrassed Burgundy took this money.

[Anonymous]

Who cares. Move on. Do you complain this much about how misused your other tax dollars are?!?

[Anonymous]

Anonymous wrote:

Anonymous wrote:The problem is not the PPP loans for private schools. That makes sense. The problem was the PPP loans for charter schools. That made zero sense and seems like outright fraud.

Oh yes it is. These schools have huge endowments and did not need to to take the money. I applaud those that didn't and am ashamed for those that did. And on top of taking the loans they asked parents for their annual fund donations. What a crock.

GDS didn’t take PPP funds because the leadership and trustees believed that the funds could be better spent to advance social justice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The problem is not the PPP loans for private schools. That makes sense. The problem was the PPP loans for charter schools. That made zero sense and seems like outright fraud.

Oh yes it is. These schools have huge endowments and did not need to to take the money. I applaud those that didn't and am ashamed for those that did. And on top of taking the loans they asked parents for their annual fund donations. What a crock.

Nice you have such detailed knowledge of every school’s finances and how they used the money or why they decided to apply. Please provide some details. Unless you’re just spewing uninformed BS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The problem is not the PPP loans for private schools. That makes sense. The problem was the PPP loans for charter schools. That made zero sense and seems like outright fraud.

Oh yes it is. These schools have huge endowments and did not need to to take the money. I applaud those that didn't and am ashamed for those that did. And on top of taking the loans they asked parents for their annual fund donations. What a crock.

Which ones have massive endowments and how much are they?

The point of the PPP program was to maintain linkages between employers and employees to avoid mass layoffs and dislocation in the economy which would make pandemic recovery harder. It served its purpose but it was imperfect and I doubt that it is ever done again.

Private and independent schools would have otherwise had to layoff a lot of people without the PPP loans. In case you were not aware, charter schools are funded by the state and they continued to receive funding throughout COVID so there was no major hit to their operating budgets and no need for them to take out the loans. That was fraud.

[Anonymous]

Anonymous wrote:Here comes the cover up! Nothing to see here but we will have to raise tuition you know because of all the costs associated with Covid. Loan? What loan?

So admin and board members writing in why did some schools decide not to take this money? Seems like they realize it was wrong? In fact a Holton announced that was the reason. So……

Sounds a lot like Field! Check out their 990 and you’ll see they had a surplus as a result of the PPP loan. And the incompetent head used that surplus to cover the massive decline in enrollment since she got there. Pathetic.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The problem is not the PPP loans for private schools. That makes sense. The problem was the PPP loans for charter schools. That made zero sense and seems like outright fraud.

Oh yes it is. These schools have huge endowments and did not need to to take the money. I applaud those that didn't and am ashamed for those that did. And on top of taking the loans they asked parents for their annual fund donations. What a crock.

GDS didn’t take PPP funds because the leadership and trustees believed that the funds could be better spent to advance social justice.

The funds went to whatever organizations applied, until they ran out. Nothing SJW, as defined by whatever, at all. That was not a criteria to helping along a business or organization affected by govt shutdowns and local dept of health rules.!

[Anonymous]

Anonymous wrote:Here comes the cover up! Nothing to see here but we will have to raise tuition you know because of all the costs associated with Covid. Loan? What loan?

So admin and board members writing in why did some schools decide not to take this money? Seems like they realize it was wrong? In fact a Holton announced that was the reason. So……

Wrong for Holton doesn't mean wrong for every school. Holton has tons of cash. They literally did not need it. You should see how that school spends money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The problem is not the PPP loans for private schools. That makes sense. The problem was the PPP loans for charter schools. That made zero sense and seems like outright fraud.

Oh yes it is. These schools have huge endowments and did not need to to take the money. I applaud those that didn't and am ashamed for those that did. And on top of taking the loans they asked parents for their annual fund donations. What a crock.

In other words, you know nothing about endowments and how they operate; particularly the restrictions on how they are used and how much can be used in a given year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't have a problem with this, and I'm not seeing anyone trying to explain why they believe these schools, who filled out the application and were granted the money under the conditions specified, should not have been allowed to do so. It cost a lot above normal operating costs to stay open under the conditions the CDC and local HHS required.

I see some who are mad that their public schools didn't use the money to stay open, but why does that mean private schools should not have been allowed to do so? It's great that some schools didn't need the money (some schools, like Holton, are seriously flush with cash), but others did need it to stay open and keep kids safely in school, which is what everybody wanted, right?

I do find the $5 mil to Sidwell puzzling and would be interesting in an accounting of that. It is the largest amount given to any school I could find.

It is terrible that public school in this area didn't use the funds to try to stay open. Many, many other public schools in other areas did. That doesn't make it "disgusting" that private schools made a different and better choice.

NP: just wanted to note, that staying open was not a requirement to have a PPP forgiven. We had to keep employees on and pay our bills, but there was no requirement about continuing to offer services or mode of services. I think the PPP program is flawed, but I don't fault institutions who applied and took the funds offered.

Of course you don't have a problem with this. You're an admin of a school that took the money.

But why do you have a problem with it? Clearly they needed it and were legally entitled to apply for it.