
Really? Not the building, too? I didn’t realize you could mortgage land that has a building on it separately from the value of the building. Especially if the land can’t be subdivided? |
I certainly won’t be. I’m not being mean. Just a realist. No way am I going to continue putting my life in the hands of these ppl. Then any mess I find myself in next year will be on me. No thank you |
Yep. Fool me once... |
The school is subject to annual independent audit by an outside accounting firm that is selected by the BOT (and the accounting firm is rotated every few years for independence purposes). The outside accounting firm reports its findings the BOT. They do a full annual review of books and records and all the controls in place. The School has being receiving a clean opinion for many years. This external process would have identified if the process controls had deficiencies or if malfeasance was taking place. |
SSFS was founded in 1961. |
This is not at all uncommon for smaller religious private schools. Know many in our area, tuition in the range of 8-15K. No bells and whistles, just an education. And no $500K hos salaries. Teacher salaries are also much much lower. But the motivations are different. |
Yup. That means it has zero money from the 19th century or turn of the century wealth that other schools were founded on, and has only 3ish generations of alumni, max. The oldest alumni are just now dying in large numbers so it probably hasn’t benefited from estates and trusts to a degree that would build huge reserves and endowments. |
Honest question.
Parents are upset and demanding answers, but what does the school actually owe you (other than, possibly, deposits paid for the 2025-2026 school year)? They are finishing this school year and maintaining student records. This isn't like Feynman where the school stopped operating mid-year and people lost tuition money. I completely understand that people are upset, but why do they think that they are owed additional information? |
Legally, not that much. Ethically quite a bit more. Does the leadership of the school want to salvage their professional reputation at all? I would think any unspent directed gifts should be repaid, since their purpose cannot be carried out. |
Ok, apologies that I hit submit on my phone before i proof read. But other than laughing at an obvious spelling mistake - do you have any points to make that RG WAS following Quaker PRINCIPLES? |
Go woke and go broke. The Quaker way is great but all the DEI hires the last few years killed the school. |
I’m certain the upper and middle heads knew along with the BOT. Serving as the frontline shield, they were part of the coverup and lack of transparency. There’s no way they didn’t know by the time RG was let go. |
As a parent of a brokenhearted student who has thrived there for over a decade, I would like some explanation in addition to... we ran out of money and we are letting you know now when its way too late to do anything. Our family has been blindsided. The teachers are some of the most genuine educators I have ever met, people with vocation who should have some information about why their jobs have been terminated and why their lives have been turned upside-down. In so many ways, SSFS walks the walk when it comes to values and community. Not perfect. Not expecting perfection, but I have seen them do right by a lot of people or at least try their best in situations where other schools would have thrown up their hands. I assumed the Board upheld similar values. That's on me for trusting and not verifying, not demanding more transparency, asking for financial reports. But I will humbly say, I didn"t even know what to demand. I dont know about boards or how a private school is run. I leave that to those whose skills lie in this area. I thought the Board was an extention of the fine, fine people I have had the honor to know personally, the heads of school and teachers, people who have cared for my kids while teaching them to write, analyze poetry, balance equations all while making the feel like they mattered, like they had something valuable to contribute to the world just by being themselves. If that doesn't "deserve" an explanation then I don't know what does. Pie in the sky sure. Naive, probably. But cynicism doesn't thrive inside me or SSFS.
This is simply too much damage, far too many people impacted negatively to offer such little information. |
I do feel badly for the very new board members who thought they were signing up to help their kids school and walked into this fiasco. It must be unbelievably stressful and I do think that although the board is responsible for the most part the responsibility lies with previous members.
Having said that, announcing after it’s too late for applications and to put teachers in this situation is on the current board, and that’s plenty bad. |
Well said. |