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Carol Burris, executive director of the Network for Public Education, authored this powerful exposé of for-profit charter schools. The report names the nation’s largest for-profit charter chains, which profit not only from skimming tuition money, but from lucrative real estate deals and financial dealings with related for-profit corporations owned by the charter operator.
Between September 2020 and February, 2021, The Network for Public Education identified more than 1,100 charter schools that have contracts with one of 138 for-profit organizations to control the schools’ critical or complete operations, including
- management, personnel, and/or curriculum. Patterns of for-profit management companies directing schools to their related real estate and service corporations is more the rule than the exception among these schools. Chartered for Profit: The Hidden World of Charter Schools Operated For Financial Gain exposes how for profit education management organizations use charter schools to direct funds away from children to the pockets of profiteers.
As the report shows, a significant number of “nonprofit” charter schools are operated by for-profit entrepreneurs.
For-profit charters operate with minimal oversight, transparency, and accountability. Like other businesses, they cultivate relationships with politicians to maintain their favored status.
Meanwhile they siphon away money needed by public schools for their high salaries, generous expense accounts, and handsome profits.
#Chartered4Profit exposes that for-profit EMOs like Academica do not exist to support the charter schools… charter schools exist to help Academica’s real estate ventures.
#Chartered4Profit One of the largest EMOs, National Heritage Academies locks schools in with sweeps contracts. All revenue is passed to the for-profit management corporation.