Monday, May 12

THE CHARTER SCHOOLS OUR CHANCELLOR ADMIRES

COSMO GARVIN, NEWS REVIEW, CA St. Hope Academy and the St. Hope Academy Foundation are nonprofits, so they have to file what is called a Form 990 every year with the IRS. Like most of the St. Hope entities, they’ve been mostly in the red for several years. In 2005, the academy managed a nearly $450,000 surplus. It was wiped out in 2006, owing $650,000 more than it took in from government grants and other sources.

In 2006, the most recent information available, the combined expenses for St. Hope Academy and the St. Hope Academy Foundation were $2,141,394. The combined deficit was $705,565. A little more long-division, and you find the deficit is about 33 percent. In other words, St. Hope’s budget was more than twice as whacked-out as the city’s.

St. Hope’s current executive director, Rick Maya, says it would be great to be back in the black, but that’s not as important as the organization’s mission. “It just costs more to get the desired results than what we’re currently funded at.”

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