This week we have New Jersey and the group in discussion is New Jersey Performing Arts Center. Some questions we have for this organization are:
Why did you take out a two PPP loan for a total of $2 million when the organization has over $200 million net assets?
If the organization already receives $3.3 million in government grants, why was the PPP loan needed?
Why is the Ceo & President worth over $1 million in salary?
Why do you have a Gala if you are going to lose over $600k+?
Can you tell us more about all the Schedule R Companies?
We reached out to the New Jersey Performing Arts Center in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, the New Jersey Performing Arts Center 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. TD Bank, National Association 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 $2,850,000. Here is how that breakdown of that money will look like:
$30,000 towards our website.
$2,820,000 for 94 classrooms in New Jersey
Helping 94 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/
New Jersey Performing Arts Center #doBetter and with this amount we can do #MOREtogether to truly help the youth in New Jersey, 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