Press Releases
Cleary Had $1 Million Profit Before Rogers’ Earmarks
Cleary University had a profit of more than $1 million – nearly 13 percent of revenues – before Republican Mike Rogers arranged for the private school to receive some $813,000 in federal tax dollars, according to the school’s federal Internal Revenue Service form. It was the second year in a row the school took in at least $1 million more than it spent.
Judy Daubenmier, chair of the Livingston County Democratic Party, said Tuesday that Republican Congressman Mike Rogers is taking money from hard-pressed citizens of Livingston County and giving it to the wealthy private school at a time when it had more than enough money to pay for the improvements and programs for which it sought federal aid.
“You only need to look at whom Mike Rogers thinks needs help in tough times to realize that his priorities are not the same as yours and mine. When times are tough in Michigan, Mike Rogers thinks it’s OK to take your tax dollars and give it – not to a local public school that is going to have to lay off teachers – but to a private school that had more than a $1 million profit two straight years,” Daubenmier said.
“Rogers’ hypocrisy in voting against the bill – after he included the money for Cleary – is not the kind of behavior we expect from people who hold high office.”
The federal 990 form that Cleary filed for the tax year that ended June 30, 2007, reported that the school had an “excess” of $1,084,929 after taking in $8,358,444 during the year and paying its expenses. That amounts to an excess of 12.98 percent. But that’s not all. Cleary University’s total assets at that date came to $8,749,102, meaning the school’s excess revenue amounted to a 12.4 percent return on equity.
Cleary’s 12.98 percent “profit” is not out of the ordinary. The previous year, the school had excess revenues of $1,126,323, out of total revenues of $8,161,318, or 13.8 percent.
The “non-profit” school had excess revenues every year but one out of six years, according to the school’s 990 forms.
“It’s clear that Mike Rogers thinks the rich should get richer and the rest of us should foot the bill,” Daubenmier said.
“Mike Rogers and federal taxpayers are the best fund-raisers for this ‘non-profit’ private school. In 2006-2007, the school managed to raise just $65,081, after expenses of $74,823, from its annual golf outing and auction.”
Cleary did not file the return for the 2006-2007 year until 2008, having filed for an extension, according to the Form 990 available on the internet.
The forms are available at: http://tfcny.fdncenter.org/990s/990search/esearch.php. The school’s Employer Identification Number is 38-1393841.
