Employee-Owned Schools?

Employee stock ownership plans (ESOPs) are popping up in lots of unexpected places. For instance, two of the companies attending the NCEO/Beyster Institute annual meeting were schools. Cedarwood Schools (www.cedarwoodschool.com) in Mandeville, LA, is a private, 100% ESOP-owned preschool-to-seventh-grade institution that has earned a reputation as one of the nation's finest private schools. Katrina posed special challenges Cedarwood, as Mandeville survived the storm better than much of the rest of the area. Enrollment soared, but Kathryn LeBlanc, Cedarwood's director, said they have met the challenge well. High Road Schools (www.highroadschool.com) is also in the process of becoming ESOP-owned. High Road provides individualized schooling for special-needs kids in six states and the District of Columbia. A final example is EdVisions Cooperative in Henderson, Minnesota. EdVisions operates thirteen schools and employs 220 member-owners, including teachers and other educational professionals. It recently received a grant from the Bill and Melinda Gates Foundation to create fifteen new schools.