New Private School Watchdog Launches – Identifies Structural Financial Risks @ LATIN SCHOOL OF CHICAGO
SANTA MONICA, CA, UNITED STATES, January 23, 2024 /EINPresswire.com/ — Several volunteer professionals have announced the launch of F.R.I.E.N.D, an initiative to ensure fiscal and social responsibility at private K-12 schools. Its name is an acronym based on its focus: “Families for Responsible Investment in EducatioN and Child Development” and the first market to launch is Chicago.
The organization will analyze publicly available filings and tax returns of private K-12 schools to offer parents unbiased comparisons and rankings of schools on such critical metrics as tuition increases, revenue sources, executive compensation, fundraising and administrative costs and debt-to-income ratios.
A wealth of information is available through government and NGO websites, but prior to the F.R.I.E.N.D. initiative, few families were equipped to gather and analyze this information to quantitatively evaluate private schools before investing hundreds of thousands of dollars and entrusting the care and education of their children. One key initiative is a proprietary algorithm that, through intense pattern analysis, will identify links between the financial health of a private school and the matriculation success of its graduates to top universities. This is because downward trends in financial performance are typically leading indicators of underlying issues and alumni dissatisfaction.
As an example, The Latin School is one of Chicago’s best-known private schools. F.R.I.E.N.D. has identified that, over the past decade, donations have declined nearly 75% while The Latin School went from a healthy annual surplus to operating at a multi-million-dollar deficit, with a head of school paid over $750,000 per year. For a family considering enrolling a child, F.R.I.E.N.D.’s work can be critical in identifying such troubling signs to inform parents about the financial health and long-term viability of a school.
F.R.I.E.N.D. will also compare information regarding for-profit versus not-for-profit private schools. Perhaps surprisingly, for-profit schools have outperformed many nonprofits based in F.R.I.E.N.D.’s rankings. Using transparent data and detailed, consistent analysis, parents–like an investor in a mutual fund or public company—can readily access this information, which they deserve.
The organization can be found online at www.K12FRIEND.org and over the next several months, various free tools will be offered.
ABOUT F.R.I.E.N.D.
Families for Responsible Investment in EducatioN and Child Development was launched in Chicago in early 2024. It is made up of volunteers applying their professional expertise in finance and analytics to help families best understand the private school landscape, so they can be better informed and prepared to make long-term and often mid-six-figure investments in a child’s private K-12 education. In the coming months, the organization will launch numerous free tools and resources, beginning in Chicago with plans to expand nationwide. See www.K12FRIEND.org
Contact for F.R.I.E.N.D.:
media@k12friend.org
Patrick M Sarkissian
Sarkissian Partners
email us here
