April 30, 2020

 

Dear Hathaway Brown Community,

 

As school administrators and members of the board of trustees work to safeguard finances in light of COVID-19 and its effect on Hathaway Brown operations, we have sought to pursue a variety of investment and emergency funding opportunities. One of these was a Paycheck Protection Program loan from the U.S. Small Business Administration.

 

This month, HB applied for and was awarded a PPP loan. At the time, we determined that receiving these funds was a responsible course of action for our nonprofit institution with roughly 200 employees. HB clearly met all the criteria for the program and the loan was awarded. However, our leadership and our board continued to evaluate the situation and we have reached the decision to return the funds. Hathaway Brown has worked diligently over time to put ourselves in a strong financial position that will enable us to continue to meet all of our future financial obligations to our employees and our families.

 

HB is proud to be an institution that contributes to Northeast Ohio’s standing as a world-class community in which to live, work, and raise a family. Much of that success can be attributed to the innovative small businesses and schools found throughout the region. We hope that these funds may be directed to these worthy organizations, which are experiencing undue financial strain at this time.

 

I share this information today in the spirit of transparency. As we have done throughout this crisis, I will continue to communicate with you on a regular basis as we navigate this unprecedented time in our school’s history. Hathaway Brown will always act in the best interest of our community and in a manner that is consistent with our values.

 

While the pandemic has been challenging to contend with, it also has brought out our best, as it reminds us that we are all in this together. I have no doubt that we will emerge from this stronger and more determined than ever to educate and empower girls who will be the leaders, difference makers, and change agents that the world needs.

 

Fondly,

 

 

Fran Bisselle

Head of School