Apr 30, 2020, 12:57 PM
(from the New York Times) Across the country, dozens of elite private preparatory schools are facing a vexing decision: They qualified for federal funds for small businesses hit by the coronavirus pandemic, but administrators are considering whether the scrutiny of taking government assistance outweighs the benefits. They schools are making calculations similar to those undertaken by larger companies such as Shake Shack and universities like Harvard, particularly because some smaller private schools with little or no endowments missed out on the first round of funding amid bureaucratic hurdles. While there is no suggestion that any school used political ties to bolster its application, some bigger institutions are able to tap board members and donors with connections to banks. Twenty of the 100 organizations that received $2 million loans from the SBA have returned it in response to public push back and new guidelines.
Listen to the latest episode of the Net Assets podcast.
