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PPP Loan Data — Ross Institute, East Hampton, NY

SBA PPP loan data, payroll data, and salaries for Ross Institute
NY Nonprofit Organization

Ross Institute

Entity: Non-profit Organization

Industry: Elementary and Secondary Schools

Location: East Hampton, NY

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Ross Institute is a non-profit organization located at 18 Goodfriend Drive in East Hampton, New York that received a Coronavirus-related PPP loan from the SBA of $2,500,000.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$2.5M

Jobs Retained:

145

Loan Approved:

2020-04-14

Lender:

BNB BANK

Ross Institute in East Hampton, NY received a Paycheck Protection Loan of $2.5M through BNB BANK, which was approved in April, 2020.

Based on standard PPP eligibility rules, Ross Institute's total 2019 payroll expenses were approximately $12M in order to qualify for the PPP loan amount received.

Based on their reported 145 jobs retained, this equals an estimated average yearly compensation of $82,759 per employee1.

Because the loan received by Ross Institute 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 - Ross Institute in East Hampton, NY

Ross Institute
18 Goodfriend Drive
East Hampton, NY 11937

Business Industry

Elementary and Secondary Schools (NAICS code 611110)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-01

Industry PPP Comparison Statistics

Nationwide, 15,362 businesses in the "Elementary and Secondary Schools" industry received a total of $5,824,752,723.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 1% of the total PPP funding allocated.

PPP recipients in this industry report an average of 38 employees, 74% lower than Ross Institute's reported 145 employees, and received an average PPP loan of $379,166, 85% lower than this company's loan of $2.5M.

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, 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/ross-institute-east-hampton-ny