Big Profits in Not-for-Profit Charter Schools

[yurbud]

If you get into an argument with Wall Street driven education "reform" advocates, one of their defenses is that many (and in some states most) charter schools are non-profits.

How can they be a scam to enrich the already wealthy when they are set up like a frickin' charity?

Here's one way: they overpay their executives up to a hundred times as much per student as actual public employees get like a state education commissioner.

Actually, this doesn't sound that different from the trust and foundation scams the wealthy run: they avoid inheritance taxes by setting up charities that give money to their children as well as some worthy causes (though the causes are even suspect on some issues).

However, operating non-profit charter schools can be very profitable for charter school executives like Eva Moskowitz. Moskowitz earns close to a half a million dollars a year ($485,000) for overseeing school programs that serve 6,700 children, which is over $72 per student. By comparison, New York State Education Commissioner is paid a salary of $212,000 to oversee programs with 2.7 million students or about 8 cents per student. In other words, Moskowitz earns about 100 times more than King for each student enrolled in a Success Academy Charter School. Carmen Farina, New York City School Chancellor is paid $212,000 a year to oversee 1.1 million students or about 19 cents per student.

According to my calculations and The New York Times, other non-profit charter school administrators also make some very heady profits. The head of the Harlem Village Academies earns $499,000 to manage schools with 1,355 students or $369 per student. The head of the Bronx Preparatory School earns $338,000 to manage schools with 651 students or over $500 per student. The head of the Our World Charterearns $200,000 to manage schools with a total of 738 students or $271 per student. The local head of the KIPP Charter Network earns $235,000 to manage schools with 2,796 or $84 per student. By comparison, the chief educational officer of Texas is paid $214,999 to manage a system with almost 5 million public school students.

***

Robert Hughes and New Visions for Public Schools is another example. New Visions operates 4 charter schools, operates a school support network, and, claims to be the largest education reform organization working to improve New York City public schools. As president of New Visions, Robert Hughes earns $333,500 on 2012. The highest paid New York City teachers with 22 years of experience can earn $100,000. A New York City high school principal with 22 years of experience as a principal earns $154,000 a year.

I have one misgiving about publishing these figures. Once Eva Moskowitz sees what CEOs are earning at KIPP, Our World, Harlem Village, and Bronx Prep, she will probably be demanding even more money to run her non-profit charter schools.

http://www.huffingtonpost.com/alan-singer/charter-school-executive-profit_b_5093883.html

[yurbud]

1. .

[Doctor_J]

2. I expect to see this 24/7 on Fox "News" for the next three weeks

Or I would if I ever watched Fox "News". Actually not even then.

Dear. Mr. President. the clock is ticking. You have time to save your legacy and undo the damage you've done to the party. Embrace public education now. walk AWAY from Jeb Bush and the rest of his malignant family, instead of schmoozing them in the hopes of joining their family in your retirement.

[yurbud]

3. It's ironic because not even REPUBLICANS like Jeb's education policy

at least not rank and file.

The DLCers and Republicans like Jeb should start their own concierge to the oligarchs party, and let the middle and working class have parties of their own.