NEW YORK CITY The money Seth Andrew stole in 2019 from Democracy Prep, the charter school network he started in 2005, was used as a down payment toward the
The statement, addressed to Seth Andrew, then DBF s CEO, in Marlboro, lists a SBA Cares Act PPP Grant (Unrealized) in the amount of $943,365 as a current asset as of December 31, 2020.
As a liability, the statement also lists a slightly larger amount – apparently the PPP loan total plus a small amount of interest. The former figure represents what DBF will receive if its application to SBA for forgiveness of the loan receives the agency s approval: The loan would then become a grant.
Documentation obtained by VBM appears to indicate that DBF applied for the forgiveness in April. The status of that application is uncertain. Accessed on May 20, federalpay.org reports that the loan, issued through JP Morgan Chase Bank, has been disbursed by the lender and has not yet been fully repaid or forgiven. The SBA database provides no information on the question.
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Editor s Note: This article was updated on Feb. 4 at 10:45 a.m. to include more details of the sale.
Editor s Note: This article was updated on Feb. 4 at 11:40 a.m. to include more details of the sale.
MARLBORO â The campus of the school formerly known as Marlboro College has a new owner.
According to documents filed with the Marlboro Town Clerkâs Office, a quit claim deed and two mortgages were recorded between Democracy Builders Fund, Inc. and Type 1 Civilization Academy Marlboro Campus LLC.
A quit claim deed is filed when property ownership is transferred between two parties.