This week we have Rhode Island and the group in discussion is Brown Medicine. Some questions we have for this organization are:
Why did you take out a PPP loan for a total of $8.46M when the organization has over $40M net assets?
If you get $80M in revenue and $6.2M government grants why did you need an additional PPP loan?
How is the VP making almost double the amount the CEO is making??
Why do you have a pension of over 4M?
Why not use the $16M in investments that are publicly traded securities?
We reached out to Brown Medicine in order to ask them about these alarming points we came across but they never responded for a comment.
In conclusion, Brown Medicine 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. Bank Rhode Island 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 $4,200,000. Here is how that breakdown of that money will look like:
$30,000 towards our website.
$4,170,000 for 139 classrooms in Rhode Island
Helping 139 teachers, over 3,800 students with financial literacy and career discovery education for a full year. To learn more about the BBFK: MORE Program visit: https://bbfkids.org/
Brown Medicine #doBetter and with this amount we can do #MOREtogether to truly help the youth in Rhode Island!! If you believe in our program for high school and college students you can help out by donating at https://bbfkids.org/donate