The Aquarium operator is one of a number of LB businesses and non-profit entities listed in a Small Business Administration online database as seeking relief under the federal taxpayer backed program. .The PPP loans on federal terms are privately administered through private lenders.

As previously reported by LBREPORT.com, on May 5, 2020 the City Council voted to loan the Aquarium operator up to $2.1 million, reflecting impacts of the COVID-19 Stay at Home order that shuttered the facility and reduced its revenue. The Aquarium operator indicated that depending on upcoming revenue, it might or might not be able to pay some or all of roughly $2.1 million due and payable in mid-October to the City's Tidelands Operating Fund (to cover for debt service on 2012 Aquarium debt bonds.)

Responding to an emailed request (July 9) for a simple narrative on why the Aquarium sought relief under the PPP program, Aquarium CFO Anthony Brown replied via email (July 9): .

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The Aquarium sought relief from PPP program because more than 75% of its revenue is admissions and admissions related. Despite the facility being shut down completely from March 14 - June 11, a significant number of employees were needed for essential duties, including but not limited to monitoring life support systems and feeding and taking care of the live animals. The Aquarium also maintained staff to prepare for reopening and to offer educational programs and lectures online during the closure to stay engaged with the public.

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Asked about the May 5 Council approval vote (9-0) for the loan of up to $2.1 million based on the effects of the COVID-19 Stay at Home order and whether the Aquarium operator told city management it sought the (up to) $2.5 million PPP loan, CFO Brown replied

The City is (was) aware of our application for the PPP loan. The approval vote by the city for the loan may or may not be exercised by the Aquarium, but it was put in place as a precautionary measure.

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LBREPORT.com also asked which salaries, if any of the top compensated Aquarium officials (listed in the AoP's 2018 990 tax return) had been reduced during the COVID-19 pandemic and if so by roughly how much, CFO Brown replied:

Top compensated Aquarium officials took a pay cut, which was made effective in April 2020.

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LBREPORT.com notes that the Aquarium operator (Aquarium of the Pacific Corporation) is a 501(c)(3) non-profit entity. Its Form 990 tax return for 2018 is publicly visible on the Aquarium's website at this link. It indicates that during 2018, the non-profit Aquarium operator paid its president/CEO, Dr. Jerry Schubel, $517.010 (base compensation of $367,630 plus $75,155 bonus/incentive compensation, plus other reportable compensation, retirement/deferred compensation and non-taxable benefits.).

The 990 form indicates that in 2018, the non-profit Aquarium operator paid its VP of Finance/CF0 $236,234 (total compensation), its VP of operations $230,872 (total compensation), and four other senior staff members between $169,0024 and $189,943 each (total compensation for each.)

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