This week we have Mississippi and the group in discussion is Millsaps College. Some questions we have for this organization:
Why did you take out a PPP loan for $3.2 million when the organization has over $134 million net assets?
How are your Office expenses ($2,207,246) more than your Occupancy ($1,941,373)?
What is contract expense (24a) $822,273, Miscellaneous expense (24c) $227,723, and All other expenses for $499,498?
Why didn’t you sell some of your publicly traded securities (valued at $52 million) instead of requesting a PPP loan?
What are your investments (worth $12,487,168) in Central America and the Caribbean invested in?
Tell us more about Millco and Millsaps Development Inc, Millsaps Real Estate Holdings Inc, Kaxil Kiuic AC, Micas-Kiuic Venture AC?
We reached out to Millsaps College in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, Millsaps College 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. Trustmark National 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 $1,600,000. Here is how that breakdown of that money will look like:
$40,000 towards our website.
$1,560,000 for 52 classrooms in Mississippi
Helping 52 teachers, over 2,600 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
Millsaps College #doBetter and with this amount we can do #MOREtogether to truly help the youth in Mississippi, 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