Monday, April 26, 2010
School For Sale!
Now that a major news outlet has finally paid attention to the business practices of Dennis Bakke and his management company (with a well-deserved round of applause for Stephanie Strom), reporters and school districts may begin to more carefully scrutinize the company's dealings.
Someone in Arizona might want to keep their eyes on an Imagine School currently listed for sale in Sierra Vista. The asking price is $6.3 million, with 5 years left on the lease. The listing also claims Imagine makes $456,968/year in income from the tenant (Imagine School at Sierra Vista). Here's a PDF flier about the property.
I haven't been able to track down additional financial information about this particular school. Like quite a few other Imagine-run schools, Sierra Vista does not have a 990 tax form readily available online (even though it's been around since 2002). Without more information, it's hard to say if the occupancy fee is steep; right now, it's at about $1,050/kid/year (they have 435 students). Shoot me an e-mail or post a comment below if you have more info.