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PPP Loan Data — Pittsburgh Cultural Trust, Pittsburgh, PA

SBA PPP loan data, payroll data, and salaries for Pittsburgh Cultural Trust
PA Nonprofit Organization

Pittsburgh Cultural Trust

Entity: Non-profit Organization

Industry: Promoters of Performing Arts, Sports, and Similar Events with Facilities

Location: Pittsburgh, PA

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Pittsburgh Cultural Trust is a non-profit organization located at 803 Liberty Ave in Pittsburgh, Pennsylvania that received a Coronavirus-related PPP loan from the SBA of $3,280,700.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$3.28M

Jobs Retained:

354

Loan Approved:

2020-04-28

Lender:

PNC BANK, NATIONAL ASSOCIATION

Pittsburgh Cultural Trust received a Paycheck Protection Loan of $3.28M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Pittsburgh Cultural Trust's total 2019 payroll expenses were approximately $15.75M in order to qualify for the PPP loan amount received.

Based on their reported 354 jobs retained, this equals an estimated average yearly compensation of $44,484 per employee1.

Because the loan received by Pittsburgh Cultural Trust 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 - Pittsburgh Cultural Trust in Pittsburgh, PA

Pittsburgh Cultural Trust
803 Liberty Ave
Pittsburgh, PA 15222

Business Industry

Promoters of Performing Arts, Sports, and Similar Events with Facilities (NAICS code 711310)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: PA-18

Similar Companies near Pittsburgh

In the Pittsburgh area, 5 businesses in the "Promoters of Performing Arts, Sports, and Similar Events with Facilities" industry received a PPP loan. These local businesses reported an average of 87 employees (compared to this company's 354) and received an average PPP loan of $841,653 (compared to this company's $3.28M).

Industry PPP Comparison Statistics

Nationwide, 4,552 businesses in the "Promoters of Performing Arts, Sports, and Similar Events with Facilities" industry received a total of $385,935,321.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 97% lower than Pittsburgh Cultural Trust's reported 354 employees, and received an average PPP loan of $84,784, 97% lower than this company's loan of $3.28M.

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.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. 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.


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Source: www.federalpay.org/paycheck-protection-program/pittsburgh-cultural-trust-pittsburgh-pa