The IDEA charter chain in Texas was one of Betsy DeVos’s favorite grantees. She handed over $200 million from the federal Charter Schools Program to IDEA to spur its expansion. With so much money, the management of IDEA indulged in luxuries. They planned to lease a private jet for $2 million a year but backed off because of adverse publicity. They bought season box seats at the San Antonio Spurs basketball games. When the founder resigned, he was given a $1 million golden parachute.
But the IDEA spending spree didn’t end there. The board of the charter chain received a whistleblower’s letter and commissioned an independent audit of its finances. When the audit was completed, the board fired the chief executive officer and the chief operating officer. Go to this link to read the board’s letter to the public and its recognition of the leadership’s corruption.
This scandal goes to the heart of the basic lie behind the CONTINUE READING: IDEA Charter Chain in Texas Admits Major Scandal and Corruption | Diane Ravitch's blog