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PPP Loan Data — California Science Center Foundation, Los Angeles, CA

ALERT: There are 2 PPP loans for a total of $4.55M in our database for businesses with the name "California Science Center Foundation" in Los Angeles, CA. This this is typically due to the same business receiving both first and second-draw loans, but may also include similarly named but unrelated businesses, multiple branches of the same business, mistaken multiple applications, or potential fraud. Click each loan below to see full details.

SBA PPP loan data, payroll data, and salaries for California Science Center Foundation
CA Nonprofit Organization

California Science Center Foundation

Entity: Non-profit Organization

Industry: Museums

Location: Los Angeles, CA

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California Science Center Foundation is a non-profit organization located at 700 Exposition Park Dr in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $2,000,000.00 in March, 2021.

The company has reported itself as a female owned non-profit, and employed at least 161 people during the applicable loan loan period.

$ PPP Loan Information
Loan #6509078501

Loan Size:

$2M

Jobs Retained:

161

Loan Approved:

2021-03-03

Loan Status:

Ongoing Loan

Lender:

City National Bank

California Science Center Foundation in Los Angeles, CA received a Paycheck Protection Loan of $2M through City National Bank, which was approved in March, 2021.

This loan has been disbursed by the lender and has not yet been fully repaid or forgiven. The exact status of ongoing loans is not released by the SBA.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, California Science Center Foundation's 2019 payroll expenses are estimated to be at least $9.6M.

Based on their reported 161 jobs retained, this equals an estimated average yearly compensation of $59,627 per employee1

Reported PPP Proceed Usage:

On the PPP application, California Science Center Foundation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,000,000
Because the loan received by California Science Center Foundation is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - California Science Center Foundation in Los Angeles, CA

California Science Center Foundation
700 Exposition Park Dr
Los Angeles, CA 90037

Business Industry:
Museums
NAICS code 712110

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: Y

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-37

Businesses Using Same Address:

There are 2 other businesses that received a PPP loan registered to the same address as California Science Center Foundation.

Watt Elyad Corporation
Limited-Service Restaurants

$134,304 PPP Loan

World Elyad Corporation
Full-Service Restaurants

$232,830 PPP Loan

Similar Companies near Los Angeles

In the Los Angeles area, 16 businesses in the "Museums" industry received a PPP loan. These local businesses reported an average of 58 employees (compared to this company's 161) and received an average PPP loan of $757,081 (compared to this company's $2M).

Industry PPP Comparison Statistics

Nationwide, 7,165 businesses in the "Museums" industry received a total of $1.13B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 18 employees, 89% lower than California Science Center Foundation's reported 161 employees, and received an average PPP loan of $157,096, 92% lower than this company's loan of $2M.

SBA PPP loan data, payroll data, and salaries for California Science Center Foundation
CA Nonprofit Organization

California Science Center Foundation

Entity: Non-profit Organization

Industry: Grantmaking Foundations

Location: Los Angeles, CA

Search All PPP Data

California Science Center Foundation is a non-profit organization located at 700 Exposition Drive in Los Angeles, California that received a Coronavirus-related PPP loan from the SBA of $2,549,700.00 in April, 2020.

The company has reported itself as a female owned non-profit, and employed at least 119 people during the applicable loan loan period.

$ PPP Loan Information
Loan #4946497000

Loan Size:

$2.55M

Jobs Retained:

119

Loan Approved:

2020-04-04

Loan Status:

Paid in Full or Forgiven

Lender:

City National Bank
Likely Employment Reduction3

California Science Center Foundation in Los Angeles, CA received a Paycheck Protection Loan of $2.55M through City National Bank, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.

The size of company's PPP loan indicates that the number of employees on payroll during the eligibility calculation period (typically 2019) was higher than the 119 jobs reported as retained on the PPP application3. This could be caused by a reduction in employment since 2019, due to Coronavirus or other factors.

The minimum number of employees this company must have had in 2019 to qualify for the loan range received is 122. This estimation is accurate if all employees were paid at or over the $100k PPP salary eligibility cap.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Read More
Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Read More

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, California Science Center Foundation's 2019 payroll expenses are estimated to be at least $12.24M (not accounting for salary amounts > $100k).

Because the 119 jobs reported are not enough to account for the loan range received, per-employee payrolls cannot be estimated.

Reported PPP Proceed Usage:

On the PPP application, California Science Center Foundation reported intending to use the proceeds of their PPP loan for the following expenses:

  • Payroll: $2,549,700
Because the loan received by California Science Center Foundation is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - California Science Center Foundation in Los Angeles, CA

California Science Center Foundation
700 Exposition Drive
Los Angeles, CA 90037

Business Industry:
Grantmaking Foundations
NAICS code 813211

Business Owner Demographics

Race: Unreported

Ethnicity: Not Hispanic or Latino

Gender: Female Owned

Veteran Status: Non-Veteran

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: Y

HUBZone: N

Rural / Urban: Urban

Los Angeles County, CA — SBA Office 0914 — Congressional District: CA-37

Similar Companies near Los Angeles

In the Los Angeles area, 4 businesses in the "Grantmaking Foundations" industry received a PPP loan. These local businesses reported an average of 122 employees (compared to this company's 119) and received an average PPP loan of $1,162,349 (compared to this company's $2.55M).

Industry PPP Comparison Statistics

Nationwide, 4,605 businesses in the "Grantmaking Foundations" industry received a total of $554.72M in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.

PPP recipients in this industry report an average of 12 employees, 90% lower than California Science Center Foundation's reported 119 employees, and received an average PPP loan of $120,461, 95% lower than this company's loan of $2.55M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.

3. Since the PPP eligibility will include a maximum of $100k in salary expenses for each employee in the qualifying period, the minimum number of employees required to be eligible for a given PPP loan amount can be calculated by the following equation: ((LOAN AMOUNT/2.5 months) * 12 months) / 100k max salary. If a company reports fewer employees than this amount on their PPP application, it is likely because they had more employees on payroll during the qualifying period.


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Source: www.federalpay.org/paycheck-protection-program/california-science-center-foundation-los-angeles-ca