This week we have New Mexico and the group in discussion is Lovelace Biomedical Research Institute. Some questions we have for this organization are:
Why did you take out a two PPP loan for a total of $5.1M when the organization has over $110M net assets?
Your CEO, President & Director is getting $900k+ from a related company, is that a conflict of interest?
You got $13M in government grants in 2019, so why did you need the $5.1M?
Pensions at $1.6M?
Where is the breakdown for the Research Supplies for $16M?
Total lobbying expense is $84M+ or $158M+?
What’s this transfer of $80M from MRN to Lovelace?
We reached out to the Lovelace Biomedical Research in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, the Lovelace Biomedical Research 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. Bank of the West 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 $2,550,000. Here is how that breakdown of that money will look like:
$2,550,000 for 85 classrooms in New Mexico
Helping teachers, over 2,300 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
Lovelace Biomedical Research #doBetter and with this amount we can do #MOREtogether to truly help the youth in New Mexico, 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