Tuesday, January 24, 2017

I handed out about 100 fliers of this at the meeting; "Say Yes to Education and Say Yes Guilford Unanswered Questions"

1.  What was the average and median payout per student for the first semester of 2016's first Say Yes Guilford class, how many students received a Say Yes Guilford scholarship, and what was the total paid out for all students?

2.  How much money has Say Yes Guilford actually raised to date, as opposed to the total amounts pledged to date?

Richard "Skip" Moore said they actually have a little over $10 million
between the High Point Community Foundation 
and the Community Foundation of Greater Greensboro

3.  How much money does Say Yes Guilford have "in hand" to fund scholarships after the first scholarships were awarded for the first semester of 2016 Fiscal Year, and how much is expected to be allocated in the second semester?

Skip said they have a little under $41 million pledged

4.  What percentage of the total amount actually raised to date in Say Yes Guilford's endowment is anticipated to be directly given to students each year?

Walker Sanders told me the Community Foundation of Greater Greensboro
was charging its normal rates to manage the money

5.  As the number of dollars provided for scholarships should about double after the first year, and then double again in two more, how is Say Yes going to pay for it?

Said David Colin during speakers from the floor

6.  What was the average payout per African American student for the first semester of 2016's first Say Yes Guilford class?

7.  What was the average payout per White student for the first semester of 2016's first Say Yes Guilford class?

8.  How much is Say Yes Guilford allowing the High Point Community Foundation and the Community Foundation of Greater Greensboro to charge to manage monies destined to be distributed to scholarship recipients?

9.  What is Say Yes Guilford's scholarship endowment money invested in specifically, and what is the total cost of investments and management to Guilford County’s children?

Walker Sanders wouldn't say

10.  Is Say Yes Guilford a fiduciary over the investment assets, and if not, why?

No one would say

11.  Are Say Yes Guilford's investment managers and the High Point Community Foundation and the Community Foundation of Greater Greensboro fiduciaries concerning the assets, and if not, why?

12.  Should the High Point Community Foundation, the Community Foundation of Greater Greensboro commit to being fiduciaries over Say Yes Guilford's scholarship endowment if they have not already done so?

They should

13.  Why is most of Say Yes to Education's money, $15 million of which has been pledged to Say Yes Guilford and for the benefit of Guilford County’s students, invested in George Weiss’ proprietary investment vehicles whose assets are in the “Caribbean and South America” according to Say Yes?

Say Yes CHIEF OPERATING OFFICER Eugene Chasin was there;

http://sayyestoeducation.org/team/gene-chasin/

Eugene made $285,000 in Fiscal Year 2014;

http://www.guidestar.org/FinDocuments/2015/223/139/2015-223139858-0cc8b82c-9.pdf


14.  How much of the $15 million Say Yes to Education pledged to Say Yes Guilford has been allocated, and what is the payment schedule going forward?

15.  Why has Say Yes to Education and Say Yes Guilford refused to provide their Guide of Ethics and Conflict of Interest Policies?

Say Yes to Education President Mary Anne Schmitt-Carey was there;

http://sayyestoeducation.org/team/mary-anne-schmitt-carey/

Mary Anne made $370,000 in Fiscal Year 2014;

http://www.guidestar.org/FinDocuments/2015/223/139/2015-223139858-0cc8b82c-9.pdf

16.  What are Say Yes Guilford's expected 2016 Fiscal Year operating costs, and is Say Yes to Education expected to cover the costs from the $15 million Say Yes to Education pledged to Say Yes Guilford?

17.  Why did the Philadelphia Chapter of Say Yes close in 2000?

One of the speakers told the audience Guilford County was the third Chapter
which doesn't appear to be true

18.  What happened to the New York, NY Chapter of Say Yes which opened in 2004?

19.  Why did the Hartford Chapter of Say Yes close in June 2005?

20.  Why did the Cambridge, MA Chapter of Say Yes close in 2008?

21.  What is Say Yes Guilford's estimated annual payroll, and who is paying the costs?

22.  What are Say Yes Guilford's expected yearly fundraising costs, and who is paying the costs?

23.  Why has the WEISS MULTI-STRATEGY ADVISERS Fund lost $3,336,864,000, from $4,628,986,000 under management in the third quarter of 2013 to $1,292,122,000 as of 06/30/2016?

Most of Say Yes to Education's money appears to be invested in Weiss Multi Strategy
on page 24 of 49;


24.  What is Say Yes to Education's money invested in specifically?

Most investors should be very careful
when allocating money to a fund bleeding cash

25.  Please explain the discrepancies between George Weiss' publicly available fund performance and the investment returns Say Yes to Education declared it made in FY's 2014, 2013 and 2012 990’s filed with the IRS, available at guidestar.com.

26.  Please explain the discrepancies between Say Yes to Education's investment returns filed with the IRS relative to the performance of financial markets the monies were invested in for FY's 2014, 2013 and 2012.

27.  Why has Say Yes, the City of Greensboro, Guilford County Schools and Guilford County so far declined to provide most of the information in questions 1 - 26?

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