Philadelphia Inquirer: Pa. cyber charters show ‘excessive profiteering,’ amassing millions in assets, new report says
“Pennsylvania’s four largest cyber charter schools, which enroll almost 75% of cyber charter students statewide, have been amassing hundreds of millions in assets, while school districts that fund them continue to raise taxes, a new report shows.
The massive growth in net assets — from $566,000 in 2018, to $486 million in 2022 — demonstrates ”excessive profiteering” by cyber charters at school districts’ expense, according to the report by Education Voters PA, a pro-public-education advocacy group. Pennsylvania’s 13 cyber charter schools receive about $1 billion a year from school districts.”
The report, based on numerous public records requests, also found one charter school company alone spent over $1 million on gift cards during one school year and another spent $1.1 million on advertising in a single year.
Read the Philadelphia Inquirer story here.
Read the report by the Education Voters of Pennsylvania. Good Jobs First assisted in the research.