Below is a list of the 20 Davidson County private schools and public charter schools approved for the largest PPP loans. Thanks to this vital program, ... we were able to maintain uninterrupted service, including online service, to our community.”. Charter School Authority Executive Director Rebecca Feiden said via email, “The SPCSA provided some brief information to schools on the PPP and pointed them to some public resources. “It wasn’t a level playing field to begin with,” he said. Academica is a for-profit management company that runs dozens of charter schools in Miami-Dade and throughout the state and nation. They can pay that back but the goal is not to furlough employees and be a resource for the community.”. The school district received $119 million through ESSER, but will keep $77 million after sharing with private and charter schools. PPP is a loan designed to help small businesses keep workers on the payroll. DeSantis set aside another $15 million specifically for private schools that have at least 50% of its student body on those state scholarships. Donaher said in her email that administrators will not receive pay cuts. The Paycheck Protection Program is supposed to help “small businesses to keep their workers on the payroll,” according to the Small Business Administration. The Florida Charter School Alliance, a membership organization advocating on the behalf of the vast majority of Florida’s charter schools, put out guidance July 10 on PPP loans and other federal funding available. Show full articles without "Continue Reading" button for {0} hours. Because the district has a high population of students from low-income families, it received $11 million for GEER but after sharing with those schools, will keep $7.7 million. (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Friday private schools with significant endowments and have taken loans from the coronavirus stimulus law should return them. The school district has cited that bond, which included funding for technology, for helping the district quickly pivot to online distance learning in March. Some of those same schools also received funding through ESSER and GEER, $860,931 and $135,240, respectively. The school has an endowment of $40 million. These Elite Private Schools Got PPP Loans, Mnuchin Tells Them To Return Money. local private schools have received loans ranging from $2 million to $5 million each, called on wealthy private schools to return their PPP loans, put out guidance July 10 on PPP loans and other federal funding available. No doubt, many schools, both public and private, incurred unexpected costs from the pandemic. Some of Miami-Dade’s wealthiest private schools and publicly funded charter schools are benefiting from millions of federal dollars that are supposed to keep small businesses afloat during the pandemic. The district is allowed to charge an administrative fee of no more than 5% for ESSER since it must procure services for private and charter schools, but cannot charge for administering GEER funds. Charter schools, Norman-Teck wrote in the guidance, “also provided thousands of digital devices to students who didn’t have them. The rest pay between $21,000 to $29,000 a year, which covers organic lunch, a snack, after-school activities and after care. The beneficiaries include some of the most exclusive schools in the region — schools that have big endowments and pay high six-figure salaries. At least 15 charter schools that reported receiving more than $1 million in payroll protection from the government reported putting that money towards zero jobs. Some also took advantage of lifelines provided by the federal government through the school district. “We certainly have seen a shift nationally and in the state toward a much more liberal interpretation of federal fund use, which I think is historic in nature,” Carvalho said, calling it a “seismic shift.”, “Certainly, I would hope that some additional opportunities be open to public school systems that may face the same circumstances or will face the same circumstances.”. Head of School Penny Townsend made a salary of $410,662 in 2018, according to the latest publicly available tax forms. President Donald Trump and Treasury Secretary Steve Mnuchin have both called on wealthy private schools to return their PPP loans. Ransom received a PPP loan of $2 million to $5 million, according to federal records. But the paycheck loans aren’t the only public funds these schools have received. Expensive Miami private schools got millions in PPP loans. At least 10 of its schools benefited from PPP loans, ranging from $2 million to $5 million for one school, Doral Academy, to a million or a few hundred thousand dollars per school. At the time, Donaher made $248,858 plus another $30,480 as head of the upper school. The two Alabama charter schools we found getting PPP money were Legacy Prep in Birmingham that received between $150,000 and $350,000 in PPP loans to save 23 jobs, and University Charter School in Livingston that received between $350,000 and $1 million to save or support 66 jobs. That price tag goes up to $35,000 for students with learning differences. Scheck Hillel Community School in Northeast Miami-Dade received a $3.627 million PPP loan and applied for $280,333 in ESSER and $12,000 in GEER funding. Other elite private schools like Harvard-Westlake have announced that they did not apply for a PPP loan. United Teachers of Dade President Karla Hernandez-Mats thinks the “inequitable” sources of funding available for non-public schools are “an excuse for the private industry to continue to raid the coffers of public tax dollars.”, “You can definitely see the disparate treatment here,” she said. Fri, Sep 11, 2020 Subscribe It said the same percentage of private schools heard from parents who may not be able to pay tuition for the coming school year. According to an IRS filing obtained by the Times, Brentwood School’s endowment was around $17.4 million in 2017. SBA Loans are excellent loans for construction, expansion, purchase or refinance of a: . Any losses the school incurs, my wife and I take care of. Maria Aselage, a spokesperson for Cardinal Newman Catholic School, another school that received between $350,000 and $1 million, said the private school used the loan … Connect with friends faster than ever with the new Facebook app. Pre-School, Private School & Montessori School Financing. Evaluating the Availability of Other Sources of Liquidity The school, which brings in over $40 million in tuition annually, declined to give back the loan after Secretary of the Treasury Steven Mnuchin called on “private schools with significant endowments” to “return” PPP funds. “And keep in mind that the consequences for a charter school that incurs a deficit are much more severe than for a school district.”. “We were eligible and we’ve put the funds to good use.”. While the program is certainly attractive, with loan forgiveness amounting to “free money,” … Penny Townsend, the head of Ransom Everglades School in Coconut Grove, poses outside the Pagoda, the oldest building on campus. The Brooklyn Heights Montessori School … At least one charter school managed by the school district, Downtown Doral Charter Upper School, received a PPP loan ranging from $350,000 to $1 million. One of the archdiocese’s most prestigious schools, St. Thomas Aquinas High School in Fort Lauderdale, received a PPP loan worth $2 million to $5 million. Like us on Facebook to see similar stories, Capitol riot live updates: More arrests made as report details open, online planning of Capitol riot, Arnold Schwarzenegger says Trump is a 'failed leader' and urges unity after Capitol siege. Catholic schools receive the most government-funded scholarships in Florida. Sports Leadership and Management, or SLAM! “Charters had no funding for those unexpected expenses,” he said. At least seven of the schools … The school does not accept students on government scholarships and did not apply for ESSER or GEER funds. She said many schools have a nonprofit arm that runs before-care, after-care and tutoring. Gov. He points out that he and his wife have put in $20 million of their money into the school. “Every other school is getting it. Ron DeSantis set aside up to $30 million to ensure voucher-like tax-credit scholarships for low-income students, which keep smaller schools and majority Catholic schools afloat. When considering whether to accept funds from the PPP, it is important to remember that while the PPP loan requires a school to certify to economic uncertainty, it does not require the school to certify that it will be forced to cease operations unless it receives PPP funds. In West Palm Beach, billionaire real estate developer and former Democratic gubernatorial candidate Jeff Greene founded his own school in 2016 because he and his wife deemed other Palm Beach schools weren’t up to par for their three sons. But Legacy's school board, which manages all of those schools and several others, reversed course, voting in mid-October to repay $4.1 million in PPP loans for the six schools, records show. The recipients of the Paycheck Protection Program loans range from exclusive private schools on the Main Line like the all-girls Agnes Irwin and Baldwin schools, and the George School in Newtown, where tuition for boarding students tops $63,000, to the Independence Mission Schools, a network of Catholic schools in Philadelphia that laid off 180 teachers and staff this spring. The Governor’s Education Emergency Relief Fund, or GEER, provides another $28 per student specifically for summer recovery for learning losses from the disrupted spring semester. “It has come to our attention that some private schools with significant endowments have taken #PPP loans. Louisville received the most loans in terms of loan count and money: $24.2 million came to Louisville private schools, which is 60.3% of all the loan money to come to private schools in the state. The Archdiocese of Miami itself received between $1 million to $2 million in funds, according to those same records. The Los Angeles Times reported Thursday the Brentwood School, one of the schools that received PPP funding, is where Mnuchin sends two of kids. School spokeswoman Amy Shipley did not specify the exact amount. The former Head of School, Ezra Levy, made $304,263 in 2018, according to the latest publicly available tax forms. Dozens of public charter schools that are already publicly funded also received or benefited from the loans — a source of funding unavailable to traditional public schools. The 132 charter schools receiving PPP loans increased teacher pay by an average of 5% – an amount similar to all 555 charter operations and 263 school districts. Of the 105 students at the school, 40% are on a need-based scholarship. Our Standards: The Thomson Reuters Trust Principles. They should return them,” Mnuchin said in a tweet. Day care center; Child care center; Pre-school; Private school ; Montessori school . “I think people are going to take advantage. The district is in a hiring freeze for non-school sites but does not anticipate reducing staff. Carvalho said the district did not apply for that loan on the school’s behalf. Zulueta is referring to the $1.2 billion general obligation bond that Miami-Dade County voters approved in 2012 and which Miami-Dade County Public Schools promoted. Funding also went to hiring substitute teachers and paying overtime for staff working to provide student support. The school has 1,160 students — 94 of whom are on government scholarships — and charges $11,340 annually for a half day of Pre-K to $29,400 for high school tuition. Head of School Vanessa Donaher said in an email to the Herald that the PPP loan was used to cover payroll and saved jobs, “empowering us to keep people employed and at work.”. The federal loans allowed them to keep existing staff and cover the new expenses.”, “I think what we have to remember is no one has gone through this before,” she said. They should return them,” Mnuchin said in a tweet. Brooklyn Friends, Calhoun School on the Upper West Side and Fordham Prep in the Bronx received $2-$5 million in PPP loans. Our Lady of the Lake University — a private Catholic university with campuses in San Antonio, Houston, and the Rio Grande Valley — received $6.6 million in PPP loans … Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. Private Schools Are Eligible for Federal Paycheck Protection Program (PPP) – Details. “We are grateful for the PPP loan and are not considering returning it at this time, as the only endowment we have is a restricted fund of less than $1.5 million,” Donaher wrote. The department said 121 private schools closed during the peak years of the Great Recession. The Miami Herald found that local private schools have received loans ranging from $2 million to $5 million each. Reporting by Ismail Shakil in Bengaluru; Editing by Rashmi Aich. Those funding sources were further expanded in Florida. Subject: Re:Private Schools and PPP Loans. Private schools across America will get another quick shot at short-term financial help, thanks to a new pandemic relief package that will funnel an additional $310 billion in forgivable loans to hundreds of thousands of small businesses and nonprofits.. The government data indicates that more than 25 of the District’s 63 charter networks received a loan, while many big-name private schools in the region also received one. “It was available; it was necessary,” said archdiocese spokeswoman Mary Ross Agosta. Schools Entrepreneur Chris Whittle Taps PPP Loan of About $2 Million Some New York City private schools declined assistance under federal Covid-19 program ...You want to keep people employed.”. “It has come to our attention that some private schools with significant endowments have taken #PPP loans. See here for a complete list of exchanges and delays. Still, some say more money should instead be given to district schools. This list does not include counties surrounding Metro Nashville. Another Academica-run school, Mater Academy, received a $1 million to $2 million PPP loan. “In these uncertain times, organizations applied to ensure they could continue to provide services and not furlough employees,” said executive director Lynn Norman-Teck in a phone interview. Most, if not all, of the 65 schools in the Archdiocese of Miami also received individual PPP loans. “The federal loans allowed them to keep existing staff levels while paying these new expenses. Many private schools in Southern California and beyond are grappling with financial hardships, but the federal loans offered via the $660-billion … Anonymous: Tuition covers 85-90% of the operating budget depending on the school. “The PPP funds we received have enabled us to retain all faculty, staff, administrators and coaches — the most important resources at Ransom Everglades School,” she wrote in an email. "It has come to our attention that some private schools with significant endowments have taken #PPP loans," Mnuchin wrote on Twitter, "They should return them." The PPP loan offers an attractive incentive in substantial loan forgiveness when used for authorized payroll and other permitted expenses. All quotes delayed a minimum of 15 minutes. Arizona public schools saw no major job losses or layoffs this year because the state Legislature fully funded schools and gave them additional money to raise teacher pay. Shipley said the school is providing $7 million in financial aid to families in 2020-21. April 27, 2020. By comparison, Miami-Dade Schools Superintendent Alberto Carvalho — who oversees 392 schools and 345,000 students in the fourth-largest school district in the nation — made $363,461 last school year. Organizations don’t have to pay back their PPP loans if certain employee retention criteria are met. According to the letter, the loan was approved and funded in mid-April. 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