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Education

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Original poster

A daft question...probably about private schools.

21 replies

whooosh · 07/12/2008 20:55

Who makes money out of them?
Fees are paid,teachers paid,groundsmen etc paid...so any left goes where???[thick emoticon]

OP posts:

TheBlonde · 07/12/2008 20:56

depends - if they are a charity it is reinvested

if not then it goes into the owner's pocket

Quattrocento · 07/12/2008 20:57

Moat private schools are not-for-profit organisations. They are designed to break even in profit terms. Which is good.

ruddynorah · 07/12/2008 20:58

yes if charity then reinvested into the school.

if not- the owners.

Original poster

whooosh · 07/12/2008 21:00

Well I assumed they were all "not fo rprofit" bu tjust suddenly thought maybe they are not.

If there was money in private education (for owners) then I am pretty sure Tesco would own schools

OP posts:

Litchick · 07/12/2008 21:03

There is a company that owns schools - Chris Woodhead is involved with it...damn can't think of the name.
But most schools are charities so the money is ploughed back in. TBH after wages, maintenance, building progs etc I don't think schools have aheap of fat.

Quattrocento · 07/12/2008 21:04

Yes there are schools that try to make money. A tiny fraction of the whole. I don't think they are terribly successful tbh

abraid · 07/12/2008 21:05

I think it's called Gravitas or something.

callmeovercautious · 07/12/2008 21:05

The owner of the one I went to as a Child was a "Lord" he took nothing in profit but I am sure his good deeds were of benefit in that he networked with the parents etc and must have done other business off the back of it.

Another one I know was a local business man who had sent his Children there years before, he bought it as a retirement hobby and installed his (much younger wife) as the headmistress. His local businesses all did well by trading with the school and it paid his wife a nice salary whilst he was technically retired as far as the taxman was concerned Again no profit as such.

The third I know about is a true non profit organisation and is actually a far better school for it. It is run by a Church and every penny is ploughed back, you can tell as the facilities are excellent.

FWIW - the first 2 are now closed, the 3rd is looking to expand.

MollieO · 07/12/2008 21:11

Cognita.

My ds's school is privately owned and I reckon makes money. Owns some of the most valuable real estate in the area along with huge playing fields. Others do use school facilities but of course no charitable requirement for the school to do so.

fivecandles · 07/12/2008 21:15

They might invest for future building programmes etc. Our did. And then there's money for bursaries and scholarships.

fivecandles · 07/12/2008 21:17

Pensions obviously cos don't get state ones. Much more expensive than you think because don't get all this for free like in state sector where you get money for ICT, subisdies for food etc.

Litchick · 07/12/2008 21:33

Yes five candles - mate whose a governor told me that DCs school functions like a well oiled business. It has plans for 100% of its fee income but has a back position for when things get tight.

Original poster

whooosh · 07/12/2008 21:36

I love the idea of these schools genuinely being not for profit and ploughing it all back in-am guessing the cynic in me struggles to believe people may actually do this.....
I agree that there would actually be very little left anyway after all the bills were paid which is why I assume,not many (it appears) are privately owned.

OP posts:

Quattrocento · 07/12/2008 21:37

I assure you Whoosh that the vast majority of private schools are not-for-profit organisations, My DCs both go to private schools which do not have a profit motive - it genuinely is all about trying to provide a first-class education

Original poster

whooosh · 07/12/2008 22:00

Well (Whooosh hangs her head in shame)my DD goes to a school which I assumed was not for profit-just as you say Quattro......I feel relived having looked into it that DD's school is indeed n-f-p.
I have no idea why this hasn'tcrossed my mind beofre-I guess I just fell in love with the school and how happy all the children seemed and it didn't matter.

OP posts:

scrooged · 07/12/2008 22:04

ds's old school was owned by the head (via the bank), any profits would have gone to him yet he had enough front to do a lot of fundraising for what he said was a minibus which then later changed to interactive white boards .
ds's current school has chartiable status so all the profits get put back into the school. They do have a governing board that oversee's everything.

mrspooh · 11/12/2008 20:28

the majority of schools are run under charitable status and as such have to abide by charity comission laws. some profit may be calculated into fees to develop school eg future buildings projects/scholarships. a few schools are owned by organisations and these prob do have a profit making element to them. if you have concerns ask the school or see if a group runs it and look into them.

BingleJells · 13/12/2008 23:01

I think most private schools are more interested in providing a first rate education and facilities than creaming off lots of profit.

ElectraInExcelsis · 13/12/2008 23:05

My experience of private schools is that they cannot have a lot of spare cash to spend as they never put the heating on! And the text books we had were quite old.

janinlondon · 15/12/2008 12:04

Ours is owned by the parents as a co-operative. No profit.

SueW · 15/12/2008 12:23

You can look on the Charity Commission website to see information about income and expenditure.

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