|
|
« Survivor of Middletown plane crash still critical | Today | Inmate returned to ACI after assault charge » July 8, 2008Education Partnership's finances, scholarship aid awryPROVIDENCE -- The financial records of the nonprofit Education Partnership are in such disarray they will require a forensic accountant to review them, the lawyer appointed to sort out the organization’s finances said this morning. Among those owed money are 95 college students who were promised about $177,000 in scholarships that apparently have not been paid, attorney Allan M. Shine told Superior Court Judge Michael A. Silverstein. So far, about 30 of the affected students have contacted Shine directly, he said. “As of now, your Honor, the records are not in perfect condition … I think that is an understatement,” Shine said. “… We need to reconstruct records that are, as I say, less than complete. It will take us a while to sort this out.” The Education Partnership, an advocacy organization backed by local businesses, went into receivership last month, in part because several contracts for conducting research for municipalities and school districts fell through, said Shine. He was appointed permanent receiver by the court this morning after serving as temporary receiver since June 18. Shine said that money from different sources — including federal grants earmarked for specific programs, grants from private sources and scholarship money –– apparently was mingled with the Education Partnership’s operational expenses. “There were no separate escrow accounts,” Shine said. Since 2005, the Partnership has administered the Louis Feinstein Memorial Scholarship, created 15 years ago by philanthropist Alan Shawn Feinstein in honor of his late father, Louis. An attorney for Feinstein said his client was dismayed to learn that the scholarship money was not kept in a separate account, used solely for student aid. -- Journal staff writer Jennifer Jordan “We understood that money would remain segregated,” said lawyer Mark Morse. “We remain concerned about the management of these funds and the failure to abide by the investment policy and … the scholarship guidelines. Mr. Feinstein is also concerned about the damage to his reputation because of the mismanagement of these funds.” Other creditors include Sovereign Bank, which loaned the organization $305,000, and several teachers and instructors who said the Education Partnership never paid them for after-school programs they provided this year at a Providence public school. The Rhode Island Attorney’s General Office is concerned about the scholarship money and will review financial records and legal documents associated with the scholarship fund as they becomes available, said Assistant Attorney General James Lee, who attended the hearing. Creditors now have four months to make their claims to Shine. A hearing to appoint a forensic accountant was scheduled at Superior Court, July 21, at 9:30 a.m. Posted by Jack Perry CommentsDan | July 8, 2008 1:09 PM link I would like to know who are the people who took over this fund.....the corruption still continues in Rhode Island....guaranteed..... Mary | July 8, 2008 1:11 PM link I hope the arrogant ones get what they deserve. Maybe they'll get to spend some time in the "Buddy" suite. John | July 8, 2008 1:44 PM link Let's see how long before this accurate, thoughtful and civil comment is deleted. Val Forti was the director of the Education Partnership. She is married to ProJo Deputy Chief Editor, Ed Achorn. Mr. Achorn has cited the Ed Partnership in some of his editorials. You could argue that he has written positive things about the organization. The Journal has only once mentioned the relationship, and that was in response to a letter to the editor. CMF | July 8, 2008 2:04 PM link www.edpartnership.org carolyn | July 8, 2008 3:05 PM link You cen get the name and bio of the executive director, as well as those of the other staff members, by going to the website, which is linked in the projo news blog. Their site is www.edpartnership.org JerryC | July 8, 2008 3:30 PM link And their first president of their board of directors?? Robert Urciuoli!! If you don't laugh you cry in this state. Al | July 8, 2008 4:25 PM link What a dirty shame. All those students relying on scholarship funding, and where did the money go? The usual Rhode Island "feeding at the trough". One thing is for sure, if there is any money left in the trough, it will be sucked away into paying Shine and the "forensic accountant". They always get their pound of flesh. Oink, oink | July 8, 2008 9:35 PM link May I say that it is about time that everyone finally knows what a scam this " organization" (and I use this term loosely) was. All Val Forti, the Executive Director and Ed Achorn's wife did was to try to discredit public education and any union affiliated with the support of both our public education system and teachers. What a disservice they have done to all Rhode Island, especially the children who are served by OUR public school system. Shame on the business community for supporting an organization that had no good intentions except to bring in money to pay some of the staff - I wonder who else has been scammed Gail C | July 9, 2008 1:17 AM link I too believe that what the Educational Partnership did was disingenuous at best and potentially criminal. What a disgrace! For the ProJo to have cited this sham organization as a source of "truth" in disparaging teachers and the educational community demonstrates their lack of objectivity, They love to print teacher salaries--where is the outrage that the Executive Director was making $140,000 in 2004, the last year that data was available? Perhaps if her salary wasn't so high, these kids would be getting the scholarships they were promised. Oh--Did you know the relationship between the Journal Ediotorial Board and Valerie Forti? Ask Mr. Achorn at the ProJo. Is that why the paper is so anti-teacher??? M. Costello | July 9, 2008 9:32 AM link Everyone is in bed with everyone except the little guy. Once again our pockets get picked by authority figures. I am so sick of the corruption in this state. I can't afford to leave, and yet I can't afford to stay. Mr. Feinstein certainly deserves better. Mixing the moneys will obfuscate the trail of where it went. Henry | July 9, 2008 11:48 AM link In The April 10, 2008 Valley Breeze, Frank O'Donnell quoted Achorn as saying "There's always been more tolerance for corruption here. In other parts of the country, civic culture fights back against it. Here, it's almost a badge of pride." Guess ol' Ed knew what he was talking about. Guess ol' Ed knew whereof he spoke | July 11, 2008 1:03 PM link Post a commentPlease be civil. Vicious comments, personal attacks and profanity won't be published. Name and email are required; email address will not publish. |
|
ADVERTISING |
|
|
|
|
| Su | Mo | Tu | We | Th | Fr | Sa |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | ||
| 6 | 7 | 8 | 9 | 10 | 11 | 12 |
| 13 | 14 | 15 | 16 | 17 | 18 | 19 |
| 20 | 21 | 22 | 23 | 24 | 25 | 26 |
| 27 | 28 | 29 | 30 | 31 |
ProJo 9 to 5 News Blog
Oct 2005 - March 2006
do you think the providence journal will ever note the executive director of this organization - BY NAME????? THIS was your chance to show no prejudice - and the projo missed the opportunity....to do so after the fact is just not good enough.