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Private & Independent Schools
Reply to "When will Private Schools' bubble burst ?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My question: who beyond the hand picked boards at these schools has oversight as to if this money is really being used well. Do the accreditation review boards look into finances to verify spending patters c/w non-profit status?[/quote] You as a consumer have this power. Quit whining about it here, and look at your school's 990 form. Or better yet, just ask the school for a copy of its financial statement. If you don't think the money is being spent wisely, leave the school. Are you the same person who rants about 3x/yr about how private schools should have their non-profit status revoked? [/quote] No, am not that person. And I don't think the 990 form is the be all and end all. No doubt it is prepared with the help of a tax professional that financially advises up to the value of their retainer. My question: does anyone ever audit these 990's? Does no one else out there find it odd that every school in town has claimed that it needs to nearly double it's tuition over past 6 years? If any company doubled its operating expenses while mostly keeping its product unchanged, wouldn't a good business person ask what ALL that increased revenue was going towards? Laptops can't cost $15,000 a child , schools don't even pay retail for computers.[/quote] At Holton you have to buy your own laptop. It's not included in tuition.[/quote]
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