Friday, February 22, 2013

Jersey Jazzman: LEAP Update

Jersey Jazzman: LEAP Update:


LEAP Update

Here's an update to the LEAP charter school scandal; to my mind, Claudia Vargas of the Philadelphia Inquirerburies the lede:
LEAP has resolved another issue. regaining its status as a tax-exempt organization last week. The IRS revoked that status after LEAP failed to file the required Form 990 for three consecutive years.
That's big news, because this might save the $8.5 million in bonds that LEAP used to finance its expansion, guaranteed by Rutgers-Camden, from going into default. I'll assume that Vargas confirmed the story with the IRS, but I wish she would have asked them why they decided to reinstate LEAP's non-profit status when they hadn't filed the correct forms for three years.

And that still doesn't address the main concern: how could the NJDOE allow LEAP and other Camden