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PPP Loan Data — The Academy Charter School, Hempstead, NY

SBA PPP loan data, payroll data, and salaries for The Academy Charter School
NY Nonprofit Organization

The Academy Charter School

Entity: Non-profit Organization

Industry: Unknown

Location: Hempstead, NY

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The Academy Charter School is a non-profit organization located at 117 North Franklin Street in Hempstead, New York that received a Coronavirus-related PPP loan from the SBA of $4,349,550.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.35M

Jobs Retained:

317

Loan Approved:

2020-04-15

Lender:

MANUFACTURERS AND TRADERS TRUST COMPANY

The Academy Charter School in Hempstead, NY received a Paycheck Protection Loan of $4.35M through MANUFACTURERS AND TRADERS TRUST COMPANY, which was approved in April, 2020.

Based on standard PPP eligibility rules, The Academy Charter School's total 2019 payroll expenses were approximately $20.88M in order to qualify for the PPP loan amount received.

Based on their reported 317 jobs retained, this equals an estimated average yearly compensation of $65,861 per employee1.

Because the loan received by The Academy Charter School 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 - The Academy Charter School in Hempstead, NY

The Academy Charter School
117 North Franklin Street
Hempstead, NY 11550

Business Industry

Unknown (NAICS code 0)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: NY-04

Similar Companies near Hempstead

In the Hempstead area, 650 businesses in the "Unknown" industry received a PPP loan. These local businesses reported an average of 14 employees (compared to this company's 317) and received an average PPP loan of $134,127 (compared to this company's $4.35M).

Industry PPP Comparison Statistics

Nationwide, 5,156,850 businesses in the "Unknown" industry received a total of $522,949,858,572.00 in PPP loans. These businesses account for 100% of total PPP applications submitted, and received 100% of the total PPP funding allocated.

PPP recipients in this industry report an average of 10 employees, 97% lower than The Academy Charter School's reported 317 employees, and received an average PPP loan of $101,409, 98% lower than this company's loan of $4.35M.

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.

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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/the-academy-charter-school-hempstead-ny