Reply #76: Ohio Charter School patron realizing big profit ($1 Million)

[UpInArms]

http://www.dispatch.com/news-story.php?story=dispatch/2006/03/24/20060324-A1-01.html

Brennan is reaping nearly $1 million in Ohioans’ tax dollars for each charter school operated by his White Hat Management Co.

A Dispatch analysis of recent state audits for 17 of Brennan’s 34 schools shows White Hat made $15.4 million in combined profits and management fees last year.

That means that nearly a third of the state funding received by each school was pocketed by Brennan’s operation. The rest was spent on teacher salaries, books and other expenses.

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"It’s millions of dollars coming from state and local taxes going into the pockets of a businessman whose schools are producing terrible results," said Tom Mooney, president of the Ohio Federation of Teachers and a leading critic of charter schools. "When is some responsible legislator going to say this is enough and pull the plug on this? It’s nuts."

Brennan has long acknowledged that he’s making money from the school-choice move- ment he lobbied to create. But he repeatedly has declined to discuss figures.

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