[Rzepecki]

Originally Posted by Michael 61

I’m grateful to live in a retirement community that sees value in providing schools for the employees and families that serve us. I’m not aware of any other 55+ community that does so. This is so important that TV is able to attract and retain high caliber employees to serve us now, and as we continue our expansive growth.

Ditto. Thank you.

[Altavia]

Originally Posted by Papa_lecki

No, the developer is still paying for it.
But more than likely (just my guess), the developer is financing the construction of the buildings/facilities.
They are not borrowing money to pay for salaries, salaries are in the annual operating budget (that the developer is paying).

I also would guess, they put the schools into a different company, that the developer owns.

No need to make stuff up, here's the financials:

Business Operations / Finance: Budget & Accounting

The Villages Charter Schools - Central Office

[Ktygrett]

Originally Posted by Rzepecki

Ditto. Thank you.

Agree. This is o nice

[spinner1001]

Originally Posted by Papa_lecki

No, the developer is still paying for it.
But more than likely (just my guess), the developer is financing the construction of the buildings/facilities.
They are not borrowing money to pay for salaries, salaries are in the annual operating budget (that the developer is paying).

I also would guess, they put the schools into a different company, that the developer owns.

The Villages Charter School, Inc. is a 501(c)3 non-profit organization, incorporated in Florida. Its operations run through the The Villages Charter School, Inc. and it leases buildings from the for-profit The Villages of Lake Sumter, Inc. associated with the Morse family.

In 2021, the charter school collected about $15M made up of $8.5M from the State education department funding, $1.8M in government grants, $2.4M in other contributions, grants, and gifts, and other revenue from childcare fees, athletic events, other sources.

That year it had $15.6M in operating expenses made up of $9.7M in salaries and benefits (the director of education receiving $114,000 and no one else higher), $2.8M in occupancy costs (e.g., lease, janitorial, landscaping, repairs and maintenance), $455,000 in food, $293,000 for athletic events, $363,000 in depreciation expenses, $393,000 for information technology, plus other items.

The school had $4.5M in assets at that time.

All of this information is public and available on the internet. The financial information above is from the charter school’s IRS tax return form 990 also on the internet.

Simply speaking, the charter school operations are self-funding and the buildings are owned by the Morse family, leasing them to the charter school. The IT group supporting the Developer provides IT services to the school.

[rickaslin]

How dare the developer do something nice!! There will always be nay sayers on this site. Beautiful facilty.

[hrenner]

Originally Posted by Papa_lecki

No, the developer is still paying for it.
But more than likely (just my guess), the developer is financing the construction of the buildings/facilities.
They are not borrowing money to pay for salaries, salaries are in the annual operating budget (that the developer is paying).

I also would guess, they put the schools into a different company, that the developer owns.

This seems to indicate that the developer pays salaries thru the budget. Not true. The developer does not pay for salaries ( as indicated on an earlier post)

[Papa_lecki]

Originally Posted by spinner1001

The Villages Charter School, Inc. is a 501(c)3 non-profit organization, incorporated in Florida. Its operations run through the The Villages Charter School, Inc. and it leases buildings from the for-profit The Villages of Lake Sumter, Inc. associated with the Morse family.

In 2021, the charter school collected about $15M made up of $8.5M from the State education department funding, $1.8M in government grants, $2.4M in other contributions, grants, and gifts, and other revenue from childcare fees, athletic events, other sources.

That year it had $15.6M in operating expenses made up of $9.7M in salaries and benefits (the director of education receiving $114,000 and no one else higher), $2.8M in occupancy costs (e.g., lease, janitorial, landscaping, repairs and maintenance), $455,000 in food, $293,000 for athletic events, $363,000 in depreciation expenses, $393,000 for information technology, plus other items.

The school had $4.5M in assets at that time.

All of this information is public and available on the internet. The financial information above is from the charter school’s IRS tax return form 990 also on the internet.

Simply speaking, the charter school operations are self-funding and the buildings are owned by the Morse family, leasing them to the charter school. The IT group supporting the Developer provides IT services to the school.

Thank you for making my point.

The post to which i responded suggested if the school didn't spend so much on such nice athletic facilities, they could pay teachers more.
I suggested that’s not the case - building/facilities are capital; salaries are operational.

[maistocars]

Just another reason why TV rocks!

[Lancer]

Would love to see an open house for TV residents to tour the new facilities.

[Bogie Shooter]

Originally Posted by Lancer

Would love to see an open house for TV residents to tour the new facilities.

That most likely will happen after it’s up and running……