Parents Scramble to Fundraise Millions as Croft School Faces Sudden Shutdown After Founder Conceals Massive Financial Mismanagement in Massachusetts and Rhode Island

A prestigious New England private school may shutter its doors after its founder allegedly hid millions in debt, leaving parents and staff scrambling.

The Croft School, which charges families $35,490 per year for tuition and has campuses in Providence, Rhode Island, and Boston, Massachusetts, revealed financial turmoil this month that has shaken its community.

Founder Admits Concealing Millions

Scott Given, 45, who established the Croft School in Providence in 2017 before expanding to Boston in 2020, disclosed to the board that he had been hiding roughly $13 million in debt.

According to a letter sent to parents on March 15, Given allegedly misrepresented expenses and kept two separate sets of books to conceal the scale of the debt.

The revelation reportedly came after a March 6 phone call to a board member, during which Given admitted the bookkeeping deception.

The board claims it had no prior knowledge of these financial discrepancies. Given has been suspended without pay while the situation unfolds.

Parents Left in Limbo

Families are now grappling with uncertainty about where their children will finish the school year.

Croft parent Nicky Bandera voiced the frustration shared by many: “Where are these kids gonna go?”

While tuition fees already exceed $30,000 annually, parents are being asked to fundraise to cover a $5 million payroll needed to keep the school operational until the end of the year.

Some parents are supporting the fundraising efforts, determined to provide stability for their children.

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However, if the initiative falls short, Boston Public Schools has pledged to absorb the displaced students, affirming its commitment to provide a free, high-quality education to children in the city.

Expansion Plans Scrapped Before Scandal

Ironically, the financial crisis surfaced just a month after the school announced it was abandoning plans to open a new Boston campus in the South End.

The expansion had involved taking over a building currently occupied by Foodie’s Market, an independent grocery store, which sparked local backlash over the loss of an affordable neighborhood grocery.

The school cited community concerns as the reason for the canceled expansion, releasing a statement emphasizing sensitivity to neighborhood needs.

Lawsuit Adds to Financial Strain

Now, the building owners who had leased the Foodie’s Market location are suing Given and the Croft School.

The civil complaint alleges that Given forged a $500,000 letter of credit from Leader Bank, which was flagged as fraudulent when the bank attempted a transfer.

The lawsuit seeks $10 million for breach of the lease and an additional $4.3 million for damages related to the community backlash and devaluation of the property.

Given’s attorneys maintain that he never used school funds for personal gain and has always directed resources toward school operations.

Impact and Consequences

The scandal has put both campuses at risk of closing, threatening the education of hundreds of students.

It has also damaged the school’s reputation, strained parent trust, and drawn legal action that could further deplete financial resources.

What’s Next?

The school faces a critical fundraising deadline to cover staff salaries until the end of the academic year.

Legal proceedings over the Foodie’s Market lease and forged documents will unfold in court, and Boston Public Schools is preparing contingency plans to accommodate displaced students if closure occurs.

Summary

The Croft School’s founder admitted to hiding $13 million in debt, putting the future of the school and its students in jeopardy.

Parents are scrambling to fundraise, legal battles are escalating, and the community is left uncertain about the fate of the school and its children.

Bulleted Takeaways

• Croft School founder Scott Given allegedly concealed $13 million in debt through dual bookkeeping.
• Given has been suspended without pay; the board claims prior unawareness.
• Parents face uncertainty about the remainder of the school year and are fundraising to cover $5 million in payroll.
• Boston Public Schools is prepared to absorb displaced students if the school closes.
• A lawsuit claims Given forged a $500,000 letter of credit; damages sought total $14.3 million.