This week we have Michigan and the group in discussion is Michigan Education Special Services Association. Some questions we have for this organization are:
Why did you take out a PPP loan for $6.1 million when the organization has over $595 million net assets with over $128 million liquid?
Who is paying for the member contributions totaling over $1 Billion??? Government, Insurance, individuals or combination of all three?
Why are your member benefits totaling over $1 Billion?
How many claims did you process to generate $77,780,982 in processing fees?
Why are paying over $7 million in expenses for pensions?
What was the $3.4 million spent on Marketing & Research spent on? Was it needed? Did it bring any improvement?
Why did you request a PPP loan when you have over $400 MILLION in publicly traded securities?
Do you truly believe that your organization should be considered a non-profit organization?
We reached out to the Michigan Education Special Services Association in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, the Michigan Education Special Services Association 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. Comerica 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 $3,000,000. Here is how that breakdown of that money will look like:
$30,000 towards our website.
$2,970,000 for 99 classrooms in Michigan
Helping 99 teachers, over 2,700 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
Michigan Education Special Services Association #doBetter and with this amount we can do #MOREtogether to truly help the youth in Michigan, 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