This week we have Iowa and the group in discussion is Central College. Some questions we have for this organization are: (If you are interested in watching the explanation of the questions: https://www.loom.com/share/e550e6ae64e44efa81cd232b20987d19 )
Why did you take out a PPP loan for $4.71 million when the organization has over $100 million net assets?
What are Off campus programs $1.06 million and all other expenses for $1.5 million?
Why didn’t you sell some of your public securities (totaling $41,000,000) instead of asking for a PPP loan?
Why do you think it’s okay to invest into such risky assets (private equity and hedge funds) over $25 million in total?
Giving grants to yourself, similar to every college, is it really giving or is one hand paying the other?
We reached out to Central College in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, Central 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. Marion County State 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 $2,355,000. Here is how that breakdown of that money will look like:
$45,000 towards our website.
$2,310,000 for 77 classrooms in Iowa
Helping 77 teachers, over 2,100 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
Central College #doBetter and with this amount we can do #MOREtogether to truly help the youth in Iowa, 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