John Helgeson, a charter school executive, has a great deal for a public servant.
In 2007, he helped found Charter School Capital, a for-profit Oregon company that loans money to charter schools and buys school properties. In May 2015, he also started making $300,000 a year as an executive vice president at Learn4Life, a nonprofit network of more than 60 charter schools that serves roughly 45,000 students in California.
Charter School Capital lends money to Learn4Life schools and pockets the interest. While working at Learn4Life – which is funded almost entirely by California taxpayers – Helgeson maintained an ownership stake in Charter School Capital. In doing so, Helgeson discovered a way to collect not just one, but two paychecks from California’s cash-strapped public school system.