Summary

Issue for Decision

Should the Board of Regents consent to the filing of a petition for judicial dissolution by the International Charter School of Schenectady (“the School” or “Corporation”) as requested by the school’s board of trustees?    

Reason(s) for Consideration

              Required by New York State Education Law section 216-a and Not-For-Profit Corporation Law section 1102. 

Procedural History

The Board of Regents is authorized to consent to the filing of a petition for judicial dissolution of an education corporation, including a charter school, in the Supreme Court of the State of New York.

Background Information

The Board of Regents, on April 4, 2000, granted a provisional charter to the International Charter School of Schenectady (“School” or “Corporation”), which at the time was located in the Schenectady City School District (Schenectady County), for the purpose of operating a charter school. The School’s first renewal was issued on May 16, 2005 and its provisional charter was extended to April 4, 2007.  At the time of its first renewal, the School relocated to the Rotterdam-Mohonasen Central School District. The School’s second renewal was issued on July 6, 2007 and its provisional charter was extended until July 31, 2008. The School’s charter entity, the Trustees of the State University of New York (“SUNY”) recommended that the School’s operations cease as of July 31, 2008. The School ceased educational operations at the end of the 2007-2008 school year.   

The School’s board of trustees (“Trustees”) are now petitioning the Board of Regents for consent to file a petition for the judicial dissolution of the corporation pursuant to Not-for-Profit Corporation Law §1102 on the basis that its charter was not renewed by SUNY and that the assets of the Corporation are not sufficient to discharge its liabilities. Specifically, the School’s petition indicates that as of September 2009, its assets were $3,112,532 and its liabilities were $7,662,434.66.  The School has also indicated that all taxes payable by the corporation have been paid, and that all student records have been transferred to the Rotterdam-Mohonasen Central School District.   

Staff recommends that the Board of Regents give consent to the filing of a petition for judicial dissolution by the International Charter School of Schenectady.

Recommendation

              VOTED:  That consent is hereby given to the International Charter School of Schenectady to file a petition for judicial dissolution pursuant to §1102 of the Not-for-Profit Corporation Law. 

Timetable for Implementation

The Regents action is effective immediately.