Our strength is in our unity.
Thank you to all the families who have contributed toward our relief campaign. We want to share some of the main the steps we have taken as an organization.
1. We applied for the SBA’s PPP (Paycheck Protection Program) as soon as the banks were accepting the application. It is unclear when we will know if we got it or when the money will be transferred if we do.
2. Thanks to contributions from our parents and their families from Gan Gani and Kesher, we were able to cover March’s payroll as normal on April 1.
3. We continue to rely on our community to help us cover April’s payroll.
4. If we receive the loan from the government, and in order to comply by the rules that will allow it to be 100% forgivable, it will help us to cover May 1 and June 1 payroll and possibly a small amount of rent and utilities.
As a reminder, due to COVID-19, we’ve lost several revenue sources, such as:
1. Cancelations of events upstairs such as B’nai Mitzvah, conferences, meditations, play dates and birthdays;
2. Cancelation of our main annual fundraiser which was scheduled for April 25. (Fundraisers are essential to us as tuition only covers 70% of the annual budget, and the rest is subsidized by donations, foundations and fundraising events.)
3. Income from Spring Break Camp; and
4. Predicted likely lost income for the Pre-Camp summer session, and possibly Summer Camp.
This affects us in many ways, but our foremost concern is that we don’t have the cash flow we typically depend on to cover our payroll through the end of the school year, and pay our wonderful and valued teachers. In order to make our Kesher distance learning sessions even more meaningful, we will begin to Zoom individual classes with your child’s individual teacher after the Passover Break.
At this point, we need approx. $20,000 by April 20, 2020 to cover payroll benefits and health insurance owed for April and moving forward into May and June. To date our campaign has raised $73,631, net of fees.
Immediate 100% participation from each family is urgent and appreciated as it better positions us to request funding from major donors and foundations who can close the gap to help us endure this current crisis.
ANY SIZE GIFT IS GREATLY APPRECIATED!
The Moadon Kol Chadash Board of Directors