“Edison was and is a very successful company,” Keeney said. “They’ve been on the cutting edge of education reform.” [2theadvocate.com, June 1, 2008]
Saturday, November 07, 2009
CEO Pay in Charter School Chains
I happened to see a clip of a peppy-looking, sharp-dressing, blonde-hair-blue-eyed savior of public education, a woman known as Deborah Kenny, CEO of the Village Academies Network, Inc. Let's just say it sparked my ire, and I did a little peeking into Doctor Kenny's cash cow, her charter school network. Let's start in 2005-2006:
Not too bad for Dr. Kenny. Yes - thats $180,000 in pay and $14,533 in benefits. On to 2006-2007:
Cha-ching! Now there's some real dough - we're getting close to 400k. And 2007-2008:
Nearly 420k as CEO. Not too shabby, eh? What else happened in 2007-2008? According to the 990 forms filed by VAN, the non-profit began subcontracting:
Those are "independent contractors" hired by VAN. Civic Builders is a nonprofit "developer of charter school facilities," and they've taken money from, among others, the Gates/Broad/Walton/Fisher-backed NewSchools Venture Fund. School Choice Investment LLC is in the CMO game as well, I'm assuming as a for-profit, and they have a remarkably uninformative website. 4th Sector Solutions is a "business management organization," a title coined by the company's founder and CEO Joe Keeney, a former President of Edison Schools (he had other roles at Edison as well). Keeney had this to say about his former employer:
But Innovative Philanthropy LLC was the biggest winner of the Village Academies Network, pulling in nearly $100,000 in 2007-2008.
Here's the clip of Deborah selling her school while gettin' nice and rich off her "no excuses" bootcamp for poor kids. It's pretty sad when this is held up as a shining light of education reform. There's plenty of fearmongering, Bloobmberg/Klein a**-kissing, and praise for Obama "for saying all the right things."