This week we have Oregon and the group in discussion is Mercy Corps. Some questions we have for this organization are:
Why did you take out a PPP loan for a total of $5.7M when the organization has over $80M net assets?
If you have over $200M in government grants, why was a PPP loan needed?
Why is your pension plan at $1 million?
Why are the Employee Benefits 10x more than the payroll?
On the expense page line 24a-e, can you go more into detail what each expense was used for?
Why is there over $300M in used for Lobbying and what are you lobbying for?
We reached out to the Mercy Corps in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, Mercy Corps 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. U.S. 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 $3,800,000. Here is how that breakdown of that money will look like:
$20,000 towards our website.
$3,780,000 for 126 classrooms in Oregon
Helping 126 teachers, over 3,500 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
Mercy Corps #doBetter and with this amount we can do #MOREtogether to truly help the youth in Oregon!! If you believe in our program for high school and college students you can help out by donating at https://bbfkids.org/donate