This week we have Maryland and the group in discussion is Ashley Inc. Some questions we have for this organization are:
Why did you take out a PPP loan for $7.5 million when the organization has over $100 million net assets?
Who’s paying the bill for inpatient care for over $29 million? Insurance, government, individuals or combination? How many patients did you care for?
When it comes to food purchases for $1,060,964 is the Sysco Food Services Baltimore for $931,640 a part of that total on 24 (a) or two separate charges (making your food cost $1,992,604)?
Why do you have pensions for over $1 million?
Why didn’t you sell some of your $61 million in publicly traded securities instead of asking for a PPP loan?
What is the bad debt expense for $445,796? Can we get a more detailed explanation
We reached out to Ashley Inc in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, Ashley Inc 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. PNC 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 $3,750,000. Here is how that breakdown of that money will look like:
$30,000 towards our website.
$3,720,000 for 124 classrooms in Maryland
Helping 124 teachers, over 3,400 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
Ashley Inc #doBetter and with this amount we can do #MOREtogether to truly help the youth in Maryland, 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