How Charter Schools Get a Bad Reputation, part 2
Yesterday I wrote about Juan Gonzalez’s article on Success Academy, which was seeking a 50% increase in its management fee from the state, even though it has a surplus of $23.5 million and spent $3.4 million last year on marketing. The typical charter management organization in New York City has a management fee of 7%, but CEO Eva Moskowitz wanted to increase hers to 15%. Given her surplus, it is hard to see a case for “need,” especially in light of her fund-raising prowess and the presence of several well-heeled hedge fund managers on her board. Needless to say, she is handsomely compensated at a salary close to $400,000 a year.
So here is the update: yesterday, the SUNY Charter Institute gave her everything she asked for. Six new schools plus a 50% increase in her management fee, which will bring in many new millions of taxpayer dollars for her operation.
But there is more to the story. Today, the New York Times ran a story about the “co-location” of a Success
So here is the update: yesterday, the SUNY Charter Institute gave her everything she asked for. Six new schools plus a 50% increase in her management fee, which will bring in many new millions of taxpayer dollars for her operation.
But there is more to the story. Today, the New York Times ran a story about the “co-location” of a Success