In response to questions regarding the financial viability of Fortune (and Kevin Johnson's St. Hope), Greg Geeting sent me a 'study' of African American performance differentials in Sacramento and the state that had been the basis for the SCOE board's majority decision to fund Fortune, which wasn't a 'study' at all, but rather a mere fifteen or so page series of bars and graphs with little or no analysis, substantive or otherwise, some of which weren't even related to the issue of African American performance, but concluding that her services were needed...
This 'study' was utterly irrelevant....In reality there was no rationale for the board's decision to fund Fortune, but merely the will to establish her very willing nonunion unqualified fraud of a school to divert resources from PUBLIC to PRIVATE schools...
Of course NONE of what was sent to me bore ANY relationship to Fortune's (or St. Hope's) financial viability....
The REASONS this issue is important is not only for the sustainability of the schools, but also for the SCOE's fiduciary obligations to education in the County, in order to avoid catastrophe's like St. Hope's nearly $5 million dollar accrued debt, to date, and climbing, with no plan for liquidation, to date... Another reason why this is important is to gauge whether an organization is entering this field merely to actually provide a service or to feather their own nests... Given Fortune's ABYSMAL financial history -- their revenues had been in FREEFALL for the past FIVE YEARS RUNNING for her EXISTING school -- it was suspected that she was merely lining her own wallet through this entre into the elementary charter school effort, making up some specious 'study' to rationalize her efforts...The board was provided references to financial statements for BOTH organizations, which they failed to address -- I would speculate because they did not understand how to read an IRS 990 FORM... which clearly state the economic detriment incurred by BOTH organizations...NONE of the board members confronted this issue with EITHER Fortune OR St. Hope... IN BREACH OF THIS FIDUCIARY DUTY....
...and the SCOE board majority that voted FOR granting Fortune this contract did so in this breach....
We later learned that at least one, or more, board members also served on FORTUNE'S BOARD OF DIRECTORS WHILE serving on the SCOE... which is a prosecutable offense for which these board members should be held accountable....
I hope those elected will reconsider this contract's vote for it is a disgrace to the conduct of civil business... I'm glad to see the CTA stepping up to fight this , and I hope those candidates who will END this CORPORATE WELFARE to FORTUNE and ST. HOPE will prevail at election.....
KEEP PUBLIC SCHOOLS PUBLIC!!!
DUMP CHARTERS!!!
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