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Post by Soccerhouse on Apr 20, 2020 11:33:51 GMT -5
Just wondering folks opinions on this matter:
I know of a handful of youth clubs outside of Georgia that have received the SBA PPP. Question I have is if a club receives it, is it/should it be make publicly available?
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Post by girlsoccer on Apr 20, 2020 11:48:16 GMT -5
Just wondering folks opinions on this matter: I know of a handful of youth clubs outside of Georgia that have received the SBA PPP. Question I have is if a club receives it, is it/should it be make publicly available? Should what be made publicly available? The money? The club? |
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Post by Soccerhouse on Apr 20, 2020 11:52:32 GMT -5
That club received SBA PPP.
or should this information be kept private.
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Post by girlsoccer on Apr 20, 2020 11:57:34 GMT -5
That club received SBA PPP. or should this information be kept private. Ok got it. Good question. I guess I wouldn’t really care one way or the other if a club got some of the money. Aside from the fact that if they did, they must have a good admin team that is on top of things and got the application in quickly. I would think most all of the clubs should have applied for it. I believe the purpose is to keep people employeed and on payroll, pay mortgages, etc., so as long as it is used for those purposes I’d say any club that got it did a good job. |
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Post by mightydawg on Apr 20, 2020 13:20:27 GMT -5
Except that unless the club is returning money to the parents, it has all of the money that it needs to pay coaches through the end of the season.
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Post by footyfan on Apr 20, 2020 13:31:48 GMT -5
Decent clubs will use it to make staff whole, as that is the intent. It could also be publicized as a sign of a well administered club.
If club leaders use it otherwise for themselves, they should be run out of youth sport on a rail.
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Post by surgesoccer on Apr 20, 2020 14:06:14 GMT -5
Clubs like everyone else will need to show that at least 75% of the money was used for payroll. The other 25% can be used for rent, and other prior ongoing expenses (feel free to correct me on numbers If I'm off).
But I think Mightdawg is correct that fees previously collected include paying for coaching, etc. Not sure about staff. So it would seem that if the club collects ppp for staff including coaches, then they technically owe parents a refund on at least the coaching part.
My kid took this year off to play other sports so doesn't affect me.
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Post by soccernoleuk on Apr 20, 2020 15:29:04 GMT -5
IMO, yes the clubs should make it public if they receive funds. My reasoning is, if they receive funding that will essentially be forgiven, they should have plenty of money to refund Academy/Select families. If they keep it quite they are receiving funds, they are trying to hide it so they can profit from the situation.
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Post by Soccerhouse on Apr 20, 2020 15:48:52 GMT -5
Of course the feds got approved:
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Post by soccerdad64 on Apr 20, 2020 19:37:45 GMT -5
Wonder how much a club would have gotten aren't most coaches outside of directors and support staff 1099 employees?
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Post by soccergurl on Apr 21, 2020 8:31:17 GMT -5
he no get nothing if all you workers his 1099 only w2 get samthing if the money his not finish yet
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Post by soccernoleuk on Apr 21, 2020 9:17:57 GMT -5
Wonder how much a club would have gotten aren't most coaches outside of directors and support staff 1099 employees? For the sake of argument, let's assume a club has 6 full time employees and they make an average of $60,000 a year. Based on this their average monthly payroll would be $30,000 plus taxes and other payroll expenses (which are eligible under the plan). Multiple that $30,000 by 2.5 per the plan, and the club would qualify for $75,000. Now if the club also provides medical benefits (also eligible to be included I believe), I could see the number for this example approaching $100,000. This is just an example and may be way off. However, you need to keep in mind that anything received will be forgiven if the funds are used for payroll. So, any fees collected from the membership will not be used for this payroll. If already collected, what will that money be used for...especially if the club is a non-profit and needs to spend it somewhere. |
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Post by messindreams on Apr 21, 2020 11:20:12 GMT -5
I don’t believe clubs received SBA PPP relief yet, it is a wait and see for now. That could be the reason why clubs are looking into unemployment benefits for coaches.
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Post by girlsoccer on Apr 21, 2020 11:37:30 GMT -5
I don’t believe clubs received SBA PPP relief yet, it is a wait and see for now. That could be the reason why clubs are looking into unemployment benefits for coaches. If they applied early enough they may have. |
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Post by messindreams on Apr 21, 2020 11:48:03 GMT -5
I don’t believe clubs received SBA PPP relief yet, it is a wait and see for now. That could be the reason why clubs are looking into unemployment benefits for coaches. If they applied early enough they may have. I know few of the clubs didn't. |
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