This week we have Louisiana and the group in discussion is University of Holy Cross. Some questions we have for this organization are:
Why did you take out a PPP loan for $2 million when the organization has over $46 million net assets?
What is the bad debt for $179,767 and all other expenses for $217,282?
Why didn’t you sell some of your publicly traded securities? You have over $30 million in publicly traded securities
Can you tell us more about institutional scholarships $859,545 (government funded $11,990,398)?
Did you lose money on your fundraising events?
We reached out to the University of Holy Cross in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, the University of Holy Cross 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. Gulf Coast Bank and Trust Company 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 $1,000,000. Here is how that breakdown of that money will look like:
$10,000 towards our website.
$990,000 for 33 classrooms in Louisiana
Helping 33 teachers, over 900 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
University of Holy Cross #doBetter and with this amount we can do #MOREtogether to truly help the youth in Louisiana, 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