National Heritage Academies (huge rent markups @ NYC charter schools)

A for-profit education firm is soaking taxpayers by subleasing buildings to the Brooklyn public charter schools it runs at astronomical rates — including one at an incredible 1,000 percent markup, sources said.

While the city Department of Education leases buildings in Brooklyn for between $5 and $25 per square foot, the Michigan-based National Heritage Academies subleases to the charter schools it operates for roughly $38 to $45 per square foot, according to a review of public school leases by The Post.

For example, NHA is leasing a former school building on Parkville Avenue in Kensington from the Brooklyn Diocese for approximately $264,000 per year, according to a church source.

Yet the firm billed the site, the Brooklyn Dreams Charter School, $2.76 million for rent and related charges there last year — a 1,000 percent markup, financial filings show...

The firm is one of the few for-profits in New York that manages all educational aspects of its charter schools, after being grandfathered in when state law abolished the practice in 2010.


Anonymous said...

The Principal at Harlem Village Academy Middle School on 144th St. called a student a "nigger" in front of a classroom of students. Nothing has been done because the principal is black. How can media attention be brought to this issue?

Anonymous said...

The Executive Staff at National Heritage Academy is quite adamant to ensure the Chief Executive Officer's Assistant is only Caucasian. Most intriguing is the notion that he will use a willing minority HR Rep (1 of only a few minorities at the corporate office) to dismiss any candidates who do not fit the requirement of being Caucasian.