and are now available below:
Posted by Caz Fri Nov 16, 2007 8:33 pm
You're right. I have yet to figure out how ARK 'charity' turns a profit out of orphans in Romania. Maybe I'm missing something.
Posted by Mark Gobell Fri Nov 16, 2007 8:57 pm
I looked at the Ark web site and glanced through their accounts and statements about mission and funding.
Most of the principles seem to be have investment banking, finance backgrounds.
As it's a charity I guess it doesn't need to turn a profit as such.
So what's the attraction for these guys in running schools ?
Posted by karlos: Fri Nov 16, 2007 11:46 pm
dont forget ARK will own the school and lease it to the local education and collect a rental plus a fee per pupil.
If they accept special needs pupils that fee increases
so the school will certainly not be a loss maker - teachers wages are paid by the LEA
And dont forget Billionaires donations to 'charity' are tax deductable
finally these academies will be pipelines of productive workers already trained up and ready for years of servitude to the corporations
Posted by Mark Gobell Sat Nov 17, 2007 8:01 am
Wow. Didn't know that they own the real estate.
That would be akin to a "right to buy" policy for schools.
Got a link ?