This week we have Pennsylvania and the group in discussion is Young Men's Christian Association (YMCA) of Greater Brandywine. Some questions we have for this organization are:
Why did you take out a PPP loan for a total of $5.06M when the organization has over $39M net assets?
Why did you lose $3M for the year?
Why do you have a pension of $600K?
Can you give more detail on 24e all other expenses for $1.18M?
What is the $1M banking transaction with Fulton Financial (Member)?
We reached out to the YMCA of Greater Brandywine in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, the YMCA of Greater Brandywine 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. Fulton 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 $2,850,000. Here is how that breakdown of that money will look like:
$10,000 towards our website.
$2,490,000 for 83 classrooms in Pennsylvania
Helping 83 teachers, over 2,300 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
YMCA of Greater Brandywine#doBetter and with this amount we can do #MOREtogether to truly help the youth in Pennsylvania!! If you believe in our program for high school and college students you can help out by donating at https://bbfkids.org/donate