ALL CHARTER SCHOOLS ARE PUBLIC SCHOOLS. Most people totally forget this point.
This claim is false.
> Although NPOs are permitted to generate surplus revenues, they must be retained by the organization for its self-preservation, expansion, or plans. [0]
Non-profits are perfectly capable of carrying money over each year, but the purpose of those "profits" are not for the financial gain of board members or CEOs, in fact doing what you suggest could be illegal in some jurisdictions, but rather to further develop or sustain the non-profit and its goals.
Spending on things like CEO bonuses would make the money taxable (if they're honest or, more likely, caught in an audit).
Why would you say that and not check?
"One of Chicago’s leading charter networks, the nationally recognized Noble Network of Charter Schools, paid its CEO and founder Michael Milkie a salary of $209,520 and a bonus of $20,000."
https://themerrowreport.com/2016/02/25/whos-raking-in-the-bi...
I have worked in non-profits since 1989 and I can state that zero balance is the vast majority 90% + of all their system. The reason is designated funds. I work in a educational institution and we have around 50 million in our operating budget. We have millions but for miscellaneous expensiveness we need to get outside money and donations. My job is paid for by these donations. My company when we have extra money from unfulfilled positions that becomes out bonuses because they can't use those funds for anything else like maintenance or capital expenditures.
SOME non-profits just have HUGE CEO pay and then if they don't have the "profit" for their salary they don't take their whole salary that year. They also can give consulting fees to board members. There is a TON that happens in Non-Profits that just makes me sad. Fortuitously I have never worked in one and currently work in the best run non-profit I have ever worked in. There are plenty of examples of HUGE CEO pay in non-profits.
> Spending on things like CEO bonuses would make the money taxable (if they're honest or, more likely, caught in an audit).
That's not factual
"In 2010, one-third of nonprofits surveyed provided bonuses to their well-paid executives, and the median bonus was over $50,000."
https://www.philanthropy.com/article/Executive-Pay-Increased...