Wednesday, July 20, 2016

If Say Yes Guilford has $35 million,...

A 5% distribution, per Richard "Skip Moore, for scholarships would be $1.75 million

$1.75 million is $437.50 each for 4,000 students

But Say Yes Guilford dosn't have the $35 million in hand, but has been promised money over time by at least some of the foundations involved
But then there are the overhead costs;

'Wraparound' services etc...

Investment fees, which if 1.5%, are about $550,000 per year on $35 million

If Say Yes Guilford pays out 5%, or $1.75 million, is it before or after invstment fees have been withdrawn?

If after, which it should be, with no investment returns, which is somewhat likely or worse if the foundations are using active managers etc..., the total payout could be $1.75 million - $550,000 = $1.2 million, or about $300 a piece for 4,000 students
But there isn't $35 million

If there is actually $20 million on hand, 5% is $1 million

Divided by 4,000 = $250 per student

No wonder why they didn't want to cover charter school kids
By my count, there are 112 posts on which have Say Yes to Education in them since last year.

Not one cease and desist, no letter from lawyers, no objection, nothing

It's as if they ignore it, it will go away, which it may if past is prologue

I keep getting told it's going to be looked into by various parties

To be continued...