Nonprofit organizations across the North Shore said that loans from the Payroll Protection Program (PPP) helped sustain them as streams of revenue were cut off.
According to data from the Small Business Administration (SBA), 39 nonprofits headquartered on the North Shore applied for and received PPP loans exceeding $150,000. An additional 113 unnamed nonprofits in the area applied for and received loans from the program under $150,000.
Most of the loans will be forgiven.
The Sands Point Preserve Conservancy, which maintains one of the Gold Coast’s most famous homes, was one of the over 150 nonprofits that applied. The conservancy first applied for a loan between $150,000 and $350,000 on the date the program opened, according to Executive Director Beth Horn, and was approved in the SBA’s second application cycle.
“The loan has helped sustain the organization’s staff while New York State mandates restrict our income-producing activities; all film/TV production, private events, and fundraising galas are suspended, seriously reducing the Conservancy’s income,” Horn said.
She said that the funds enabled the conservancy to “keep our whole staff at work,” which was essential for maintaining the buildings and grounds.
“The loan created a bridge to help the conservancy through this difficult time, and the extension of the loan period to 24 weeks is especially helpful, (because) we’ll be able to utilize the entire loan amount,” Horn said. “Without the loan, the conservancy would have had to initiate a Shared Work Program or furlough employees, which would have negatively impacted the Preserve and our visitors.”
South of Sands Point, another estate-based nonprofit, Old Westbury Gardens, applied for and received a loan in a bracket of $350,000 to $1 million. Organization President and CEO Nancy Costopulos said that the funds provided much-needed relief for the century-old estate.
“Every revenue stream at Old Westbury Gardens was negatively impacted by the pandemic,” she said. “All public programs, children’s programs and fundraising events were canceled, and we had no admission revenue. This loan provided an important bridge so that we could maintain our operations, and then be able to open safely to the public when we were permitted to do so.”
Like the Sands Point Preserve, Costopulos said that the loan assisted in maintaining the gardens and readying them for reopening.
“As you can imagine, a large property known for its excellence in horticulture requires a lot of care,” Costopulos said. “The loan allowed us to maintain the critical staff that could support the gardens’ eventual reopening, which happened in July.”
Rande Bynum, CEO of the Girl Scouts of Nassau County, said that the Garden City-based organization’s loan, listed as $350,000 to $1 million, allowed the Girl Scouts to maintain their workforce.
“The Girl Scouts quickly pivoted to virtual programming when girls and their families needed additional support, new ways of engaging socially and educationally, and a sense of normalcy during the COVID-19 pandemic,” Bynum said in a statement. “This critical financial support was paramount to the health of our organization during a time when other revenue streams were disrupted.”
Bynum added that the organization was “grateful to Congress for this lifeline, if only for a few months.”
“It not only helped with short- and long-term initiatives tied to our mission but also directly benefited the girls who are living through these unprecedented times,” Bynum said.
A representative from the Regency at Glen Cove Assisted Living, listed by the SBA as National Healthplex Inc., said that working with a local bank proved instrumental in acquiring a loan in a bracket between $350,000 and $1 million.
“Our prior existing banking relationships were with national banks that received a lot of demand for the PPP,” the representative said. “Therefore, it was helpful to work with a community bank that was focused in ensuring the funds benefited local businesses. Similar to the difficulties other applicants faced, it was difficult to interpret the rules, but the application approval and funding process was not lengthy.”
The funds covered the Regency’s payroll for approximately two months, the representative added, and were “critical” for the organization’s operations due to the “increasing expenses during pandemic and no admissions during lockdown.”
The representative said that the “flexibility” in the use of the funds allowed the organization to “meet our financial obligations and maintain a high quality of care for a residents during a challenging time.”
“It’s clear that no one imagined that the pandemic would be continuing for so long,” the representative from the Regency said. “Small businesses across the country, the Regency included, may need additional federal financial support to weather the storm.”
Sid Jacobson JCC in East Hills was listed as having received a loan from the program between $2 million and $5 million. The organization declined to comment.
The SBA said that Life’s WORC and Nassau Regional Off-Track Betting Corp., both based in Mineola, also received loans between $5 million and $10 million and between $2 million and $5 million, respectively. Efforts to reach both for comment were unavailing.
The agency also said that North Shore Animal League America, an animal rescue and welfare organization based in Port Washington, received a loan in a bracket between $2 million and $5 million. Efforts to reach the league for comment were unavailing.
St. Mary’s Roman Catholic Church in Manhasset and Harbor Day Care Center and ICNA Relief, both based in New Hyde Park, each received loans between $1 million and $2 million. Efforts to reach the organizations for comment were unavailing.
Advantage Care Diagnostic and Treatment Center in Glen Head; the Greentree Foundation in Manhasset; St. Peter’s of Alcantara Church in Port Washington; Temple Israel and the United Mashadi Jewish Community of America, both in Great Neck; and Temple Sinai and Temple Beth Sholom, both of Roslyn; all received loans in a bracket between $350,000 and $1 million. Efforts to reach the organizations for comment were unavailing.
The Glen Cove Boys and Girls Club at Lincoln House, the Glen Cove Child Day Care Center, Temple Beth-El of Great Neck, Our Lady of Grace Montessori School in Manhasset, the Jewish Reconstruction Society of the North Shore in Plandome, the North Shore Early Childhood Center in Roslyn Heights, and Congregation Beth Israel in Port Washington all received loans in a bracket between $150,000 and $350,000. Efforts to reach the organizations for comment were unavailing.
Article Courtesy: theislandnow.com