Academica (charter school)

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Academica is a for-profit private education company headquartered in Miami, Florida. As an education service provider (ESP), it services over 200 public charter schools in the United States.^[1] It is owned and managed by CEO Fernando Zulueta as is considered one of Florida's largest school management company. In 2011 it reported $158 million in revenue.^[2]

Controversy[]

Academica came under controversy as its owners also own significant real estate assets, which houses the schools chartered by Academica, exempting them from property tax. In 2010, the owners of Academica own more than 20 companies doing business with Academica schools.^[2] Moreover, it was claimed that the school boards, which approve the real estate contracts, are financially connected to Zulueta.^[2][3]

In 2007, Miami-Dade school district auditors asked the Miami-Dade state attorney’s office to investigate a multi-million construction contract to build an Academica charter school given to a contractor which served on the same school's board.^[2]

Between 2013 and 2014, the Office of the Inspector General (OIG) of the US Department of Education has conducted an audit of the relationship between charter schools and ESP's, including Academica's schools in Florida, identifying related party transactions between the for-profit Academica and a real estate company that leased both buildings and security services to the schools.^[4][5]

References[]