Is the reason Gary Chartrand wants more money for KIPP because they owe him three and a half million dollars?

KIPP has three count them three charities that take care of it with combined assets as of 2017 the most recent tax returns available on Guidestar of  58 million dollars.

https://www.guidestar.org/search

Now that’s not all cash, most of it is land and buildings, but I did find this interesting bit.




It says Due right, which means owed, I mean I think that is what it means unless the city attorney changed the meaning of that word too.


So what does all this mean? Heck if i know. I have degrees in poli sci and psychology because I wanted to take as little math as possible and all I know about tax returns is the only good thing about just paying interests on your student loans is that helps with them.


I do know however that having three charities seems hinky and KIPP plays every loophole available and I would imagine the people doing their taxes do as well.


To look at the KIPP’s school three charities 2017 tax returns, click the links.


https://pdf.guidestar.org/PDF_Images/2017/264/046/2017-264046824-0ee20e3d-9.pdf

https://pdf.guidestar.org/PDF_Images/2017/474/726/2017-474726810-0ee6b79a-9.pdf

https://pdf.guidestar.org/PDF_Images/2017/273/004/2017-273004832-0ee81f2e-9.pdf





2 Replies to “Is the reason Gary Chartrand wants more money for KIPP because they owe him three and a half million dollars?”

  1. From a former C.P.A.: It is listed as a liability, which means that they owe it to Chartrand, however the liability came into being.

  2. This was interesting … followed the trail … Organization X owns the building and owes Baker and Chartrand $11 million dollars …

    The school rents from the Organization X. Why is it structured that way? I sent an email to the city council but I didn't get an answer. There might be a legitimate answer or it could be
    1. To make sure the school district doesn't take the building if the school closes
    2. Insurance purposes if a kid sues the school, then the building would be protected.

    What other reasons?

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