BBFK: Nonprofit PPP Loans Watchdog IN

This week we have Indiana and the groups in question are Children’s Museum of Indianapolis and Purdue Research Foundation. 

Some questions we have for Children’s Museum of Indianapolis are:

  1. Why did you take out a PPP loan for $3.62 million when the organization has over $357 million net assets?

  2. Did you really need to spend $1.4 million on Media Placement with Echo Point Media?

  3. Do you think your investment fee of $3.35 million was worth a $4.2 million return?

  4. What is the interest of $1.75 million on?

  5. Jeffrey Patchen, are you worth $1,000,000 a year in salary/benefits?

  6. Why do you have over $260 million in Private Equity/Venture Capital? Maybe a little tooooooo risky?

  7. Tell us more about:

    1. Sidney Enterprises LLC

    2. Trex Enterprises LLC

Some questions we have for Purdue Research Foundation are:

  1. Why did you take out a PPP loan for $6.33 million when the organization has over $1.05 BILLION net assets?

  2. Do you believe you help advance the mission of Purdue University by receiving this PPP loan when you have over $1,000,000,000 in net assets??

  3. What royalties are you using for $8.9 million?

  4. Can you explain the $12 million in Gift Annuity Payments & Fees?

  5. Why do you have over $265 million with hedge funds???

  6. Why did you approve the Sky Night LLC with Director Scott Niswonger? $36,000 per month, maybe a conflict of interest??

  7. Tell us more about: 

    1. Inproteo

    2. Vaccine LLC

    3. Hubzero Foundation LLC

    4. The Foundry Investment Fund LLC

    5. Back a Boiler - ISA Fund LLC

    6. Pave the Way ISA Fund

    7. Boilermaker Health Innovations Inc

We reached out to Children’s Museum of Indianapolis and Purdue Research Foundation in order to ask them about these alarming points we came across but  they never responded for comment.

In conclusion, Children’s Museum of Indianapolis and Purdue Research Foundation 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.Old National Bank and JPMorgan Chase 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 $4,975,000. Here is how that breakdown of that money will look like: 

  • $85,000 towards our website. 

  • $4,890,000 for 163 classrooms in Indiana

    • Helping 163 teachers, over 4,500 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/

Children’s Museum of Indianapolis and Purdue Research Foundation #doBetter and with this amount we can do #MOREtogether to truly help the youth in Indiana, 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