I drive past them every day and notice they seem to be closed. Did they close already? |
Seems like more of a liquidity crisis. Sale of the building and various things will likely cover it. |
The school has a dry short window to prove this, if they choose. In the meantime, a larger portion of tax dollars will keep it afloat until the school year ends. |
very short window (not dry) |
What's really shitty is that the school has had this crisis looming for a while-- at least since their enrollment figures came out. Had they started to unwind a month or two ago, those kids could have gotten into the normal lottery. They could have done the right thing. |
this. Why would anyone want to save this school? Its a joke and those kids would be better off at their week IB schools honestly. |
When was the last time you were in a high school? The same could be said of most of them. The school was actually performing better than its peers; it has a mostly at-risk population. Had they not screwed up the money they were headed toward a charter renewal. |
I wonder though. If you look at the enrollment figures, it was tapering off. Only 32 9th graders this year, 52 in the two years above but 74 seniors. I don't know why it was dropping, but they couldn't have held it together. |
I agree. I think other charter schools with more attractive moved close to them, and they weren't able to compete. But hallway behavior isn't really a reason to close a school. Financial mismanagement clearly is. |
So what happens to the kids? Do they all have to go to IB schools? |
unless they entered the lottery and get in somewhere, or go on a waitlist post-lottery and get a spot. |
They've had their days like some other former high-level charters, basically there are only so many higlly-effective student to go around, if that is the group you're marketing too! Another reason the market model does not work for education ...so much waste! Sorry for the children |
The Washington post just wrote about this situation today:
https://www.washingtonpost.com/local/education/one-of-the-citys-oldest-charter-schools-is-so-broke-that-it-cant-make-payroll/2018/03/13/81b775d2-264b-11e8-874b-d517e912f125_story.html?utm_term=.b1f1986c470d |
Candid question: What's wrong with the location? Did they own it rather than lease it? Is that common among charter schools? Haven't there been arrangements where a different charter takes over the building and students of closing charters? Could that happen here? Or might another charter be interested in the space? |
They owned the building. Some charters own their building (see also LAMB, BASIS) others lease. THeir address is 1920 Bladensburg Rd NE. It's a non-descript building surrounded by light industrial buildings and warehouses. They will need to sell the school's building to settle their debt, and they supposedly have a buyer who will supposedly pay $9M for the site. Unlikely any other charter can afford that. The school has a short window of time to come up with a plan to get out of their financial crisis. That could involve being taken over by someone else -- too soon to tell. |