FederalPay.org
PPP Loan Data — The Minneapolis Society Of Fine Arts,
Minneapolis, MN
The Minneapolis Society Of Fine Arts
Entity: Non-profit Organization
Industry: Museums
Location: Minneapolis, MN
Tweet This
•
Search All PPP Data
The Minneapolis Society Of Fine Arts is a non-profit organization located at 2400 3rd Ave. S in Minneapolis, Minnesota that received a Coronavirus-related PPP loan from the SBA of $3,586,900.00 in April, 2020.
$ PPP Loan Information
Loan Size:
Jobs Retained:
321Loan Approved:
2020-04-09Lender:
OLD NATIONAL BANKThe Minneapolis Society Of Fine Arts in Minneapolis, MN received a Paycheck Protection Loan of $3.59M through OLD NATIONAL BANK, which was approved in April, 2020.
Based on standard PPP eligibility rules, The Minneapolis Society Of Fine Arts' total 2019 payroll expenses were approximately $17.22M in order to qualify for the PPP loan amount received.
Based on their reported 321 jobs retained, this equals an estimated average yearly compensation of $53,636 per employee1.
Business Information - The Minneapolis Society Of Fine Arts in Minneapolis, MN
2400 3rd Ave. S
Minneapolis, MN 55404
Business Industry
Museums (NAICS code 712110)
Business Owner Demographics
Race / Ethnicity: Unreported
Gender: Unreported
Veteran Status: Unreported
Congressional District: MN-05Similar Companies near Minneapolis
In the Minneapolis area, 4 businesses in the "Museums" industry received a PPP loan. These local businesses reported an average of 87 employees (compared to this company's 321) and received an average PPP loan of $964,213 (compared to this company's $3.59M).
Similar Nearby Businesses Who Received PPP Funding:
Hennepin History Museum
Minneapolis, MN
Midwest Art Conservation Center, Inc.
Minneapolis, MN
Groveland Gallery, Inc
Minneapolis, MN
Industry PPP Comparison Statistics
Nationwide, 4,135 businesses in the "Museums" industry received a total of $670,583,040.00 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 16 employees, 95% lower than The Minneapolis Society Of Fine Arts' reported 321 employees, and received an average PPP loan of $162,172, 95% lower than this company's loan of $3.59M.
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.
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.
Have FederalPay.org's open data tools been valuable? Consider donating!