NYC preschool admittance for a price? The Jack Grubman emails
From Saturday, November 16, 2002
The cost of getting into preschool in NYC can be very high as detailed in the recently released Jack Grubman emails to Citigroup CEO Sandy Weill according to this New York Times story (registration required):
Citigroup pledged to give $1 million over five years to the 92nd Street Y, which runs the nursery school Mr. Grubman's twins ultimately attended. The gift, which is to underwrite lectures and other events at the Y, was announced in the summer of 2000, and the Grubman twins started school a few months later.
...Members of prestigious nonprofit boards around the city are following the story with great interest but have no desire to discuss it publicly. "The fact that Sandy has been so incredibly generous himself makes it difficult to talk about it," one said. "The one thing that just doesn't feel right, whether it violates any rules or principles, is that this was shareholders' money."
..."Look, it's a well-known fact that when you send your child to an independent school in the city, if you have the money, you're expected to pay a lot more than the $20,000 tuition," said a board member at one school. "In many cases, parents are paying $50,000 to $100,000 a year."