This week we have Maine and the group in discussion is Maine College Of Art. Some questions we have for this organization are:
Why did you take out a PPP loan for $1.7 million when the organization has over $23 million net assets?
What did you lose $90,120 doing (Other Income)?
Can you give an explanation for expenses 24a,c, & e (Dorm, Miscellaneous Exp, All other expenses) totaling over $3 million?
Why didn’t you sell any of your investments (publicly traded securities) valued over $9 million?
We reached out to Maine College Of Art in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, Maine College Of Art 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. TD 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 $850,000. Here is how that breakdown of that money will look like:
$10,000 towards our website.
$840,000 for 28 classrooms in Maine
Helping 28 teachers, over 750 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
Maine College Of Art #doBetter and with this amount we can do #MOREtogether to truly help the youth in Maine, 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