Finances are tricky. A charter school cannot make money. They are non-profit. But the management company can make all the money it can by controlling the money and can be quite profitable for the company and its employees.
This would be akin to the school board collecting all the money and then doling out what they believe is necessary to the school while keeping what they can for their services.
More Charters Cut Ties with Newpoint Partners Management Company
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Last month, a grand jury in Florida indicted employees of Newpoint Education Partners and three other companies for grand theft, money laundering, and other crimes. The company, started by former employees of the White Hat management company in Ohio, lost the charters for several schools that it was running where the alleged crimes occurred.
Now, two more charter schools are cutting their ties with Newport, following an investigation by a local TV news station.
One week after an 8 on Your Side investigation uncovered $235,000 in bogus school loans, two charter schools funded with state tax dollars in Jacksonville have decided to sever ties with a for-profit management company we’ve been investigating for months because of the financial chaos it helped create in Pinellas charter schools.
The Jacksonville charter school loans by Newpoint Education Partners which are cited in a 2015 financial audit do not exist, something that caught even the treasurer of San Jose Preparatory High School and Academy by surprise after 8 on Your Side uncovered and reported it.
Are there any law enforcement officials in Jacksonville, or is it left to the media to investigate criminal activity?
Now, two more charter schools are cutting their ties with Newport, following an investigation by a local TV news station.
One week after an 8 on Your Side investigation uncovered $235,000 in bogus school loans, two charter schools funded with state tax dollars in Jacksonville have decided to sever ties with a for-profit management company we’ve been investigating for months because of the financial chaos it helped create in Pinellas charter schools.
The Jacksonville charter school loans by Newpoint Education Partners which are cited in a 2015 financial audit do not exist, something that caught even the treasurer of San Jose Preparatory High School and Academy by surprise after 8 on Your Side uncovered and reported it.
Are there any law enforcement officials in Jacksonville, or is it left to the media to investigate criminal activity?
