Putnam Science Academy - more financial issues

[andy34]

Remember a few years back when Putnam Science Academy ("PSA") temporarily closed and transferred their prep basketball program to Woodstock Academy, only to rise from the ashes shortly after because some private donor(s) bailed them out? Seems like their financial issues aren't exactly behind them, even though they won another national prep championship last month.

The Town of Putnam just announced a tax sale of delinquent properties scheduled for August that includes 5 properties owned by PSA. Apparently they owe over $850,000 in back taxes. I'd bet they get bailed out again, but it does make me wonder what the business model is, exactly, for these institutions.

 

[husky429]

PSA is sketchy . They're backed by Chinese investors, that's all I remember.

 

[WrenchFan69]

Remember a few years back when Putnam Science Academy ("PSA") temporarily closed and transferred their prep basketball program to Woodstock Academy, only to rise from the ashes shortly after because some private donor(s) bailed them out? Seems like their financial issues aren't exactly behind them, even though they won another national prep championship last month.

The Town of Putnam just announced a tax sale of delinquent properties scheduled for August that includes 5 properties owned by PSA. Apparently they owe over $850,000 in back taxes. I'd bet they get bailed out again, but it does make me wonder what the business model is, exactly, for these institutions.

I guess the game plan is to stay afloat long enough while winning in basketball to convince people they're a real prep school. I can't think of a single reason to send your non-athlete child there over Pomfret, Woodstock, or even Rectory just up the road, but best of luck to them. Cool for the city, I suppose

 

[Fishy]

the a.f. autocorrect....

Doubt it.

The word filters on this site would boggle your mind.

 

[aburks41]

Doubt it.

The word filters on this site would boggle your mind.

Can we get rid of some of these filters?

 

[HooperScooper]

Can we get rid of some of these filters?

And the autocorrect which takes UConn to Uconn. Dumbest thing I've seen on this site.

 

[UCTitleTown]

I went to a couple games at PSA a few years ago to see "he who shall not be named" play, and sat on the auditorium stage edge to watch. The gym was even smaller than any Catholic parochial gym I've ever seen. It might have held 200 people standing.

 

[andy34]

I guess the game plan is to stay afloat long enough while winning in basketball to convince people they're a real prep school. I can't think of a single reason to send your non-athlete child there over Pomfret, Woodstock, or even Rectory just up the road, but best of luck to them. Cool for the city, I suppose

Just to clarify (as a Woodstock Academy alum), while Woodstock does now have a prep program, they are a rigorous educational institution and subject to all the same accreditation, certification, and disclosure requirements of public schools. It is the de facto public school for 6 different towns. Very different situation from PSA, Rectory, Pomfret School, etc. /er

 

[CL82]

And the autocorrect which takes UConn to Uconn. Dumbest thing I've seen on this site.

UConn

I think that may be your phone and not the site.