This week we have Missouri and the group in discussion is Missouri Baptist University. Some questions we have for this organization are:
Why did you take out a PPP loan for $3.8 million when the organization has over $46 million net assets?
What are you doing with the $35,107,818 (4a), $5,402,764 (4b), $1,760,412 (4c) and $4,214,334 (4d)?
Tell us more about your Auxiliary Enterprises (total revenue for $3,030,503)?
What are All other expenses (24e) of $1,767,304?
Why didn’t you take the $3.8 million from your savings account, which has $13 million in it, instead of requesting the PPP loan?
We reached out to the Missouri Baptist University in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, the Missouri Baptist University should give the money back just like Fortune 500 companies did, but with a twist. Half going back to the government and the other half going back to Building Blocks for Kids. Cass Commercial Bank can give back any revenue made (penalty should double that amount) for creating this loan. Not sure what the government will do with their half, yet BBFK knows exactly what we will do with our portion.
Building Blocks for Kids would get a total amount of $1,900,000. Here is how that breakdown of that money will look like:
$10,000 towards our website.
$1,890,000 for 63 classrooms in Missouri
Helping 63 teachers, over 1,700 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
Missouri Baptist University #doBetter and with this amount we can do #MOREtogether to truly help the youth in Missouri, give our youth a better chance for financial freedom and a better place to live. #doMORE
If you believe in our program for high school and college students you can help out by donating at https://bbfkids.org/donate