On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. This stimulus bill included financial provisions for higher education institutions and their students to offset costs incurred by the COVID-19 pandemic and subsequent closures. 

CARES Act HEERF - Institutional Portion Reporting

For recipients of the CARES Act - Higher Education Emergency Relief Fund (HEERF) Institutional portion, recipients must comply with all reporting requirements including those in Section 15011(b) (2) of Division B of the CARES Act and submit required quarterly reports to the Secretary, at such time and in such manner and containing such information as the Secretary may reasonably require (See also 2 CFR 200.327-200.329).

1. This is to acknowledge that Peirce College signed and returned to the Department of Education the Certification and Agreement for the Institutional Portion of the Higher Education Emergency Relief Fund Formula Grants Authorized by Section 18004(a)(1) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act on June 4, 2020.
2. Peirce College was awarded funding in the amount of $305,694 from the Department of Education pursuant to the institution’s Certification and Agreement [for] Institutional Portion on June 9, 2020.
3. As of August 17, 2020 Peirce College has expended and drawn down a total in the amount of $305,694 in Institutional Funds under Section 18004(a)(1) of the CARES Act.
4. The method(s) used by Peirce College to determine expenditures under Section 18004(a)(1) of the CARES Act:

Peirce College utilized the funds to address the cost of significant changes of instruction through June 2020, due to COVID-19 and the resulting closure of campus. Peirce also invested in equipment and faculty training to expand our capacity for instructional technology and build a resilient and flexible delivery of instruction to continue to educate our students. The funds were fully utilized by June 30, 2020.

Additional reporting information:

• NAICS: 611310
• Program Source: CARES Act - Higher Education Emergency Relief Fund (HEERF) Institutional Grant
• Location of Peirce College: 1420 Pine Street, Philadelphia, PA 19102 (3rd Congressional District of Pennsylvania)
• Place of Performance: Peirce College, 1420 Pine Street, Philadelphia, PA 10102 (3rd Congressional District of Pennsylvania)
• IRS Form 990

Questions about Emergency Financial Aid Grants should be directed to Feedback@peirce.edu.

First Quarter Report (FINAL REPORT)

Published: August 18, 2020