"A child's learning is the function more of the characteristics of his classmates than those of the teacher." James Coleman, 1972

Monday, April 18, 2016

KIPP Hands Agassi's Real Estate Company Million Dollar Profit on Building

While KIPP was building up its enrollment at KIPP Philadelphia, it was paying rent with public dollars to Andre Agassi's real estate company, which was renovating the building.  When the renovation is completed, KIPP will buy the building from Turner-Agassi Charter School Investment Fund for $9.2 million, which will provide Agassi's investors over 9 percent return on their investments.  This is a 9 percent return without risk. 

Wonder why charters are big business?

Meanwhile, one of the KIPP franchises in Memphis has raised a little over four thousand dollars for a library (minus librarian, of course).  Sorry, boy and girls, the KIPP business model has not worked out a way to make a profit from your reading.


  1. The report about the Agassi fund sale from the Philadelphia Inquirer.
    Agassi's fund cashes in on N. Phila. charter-school venture

  2. I need to get Jay Matthews' thoughts on this before I can form any opinions. After all, who is better to talk about KIPP than a guy that constantly reviews his own book about KIPP?