Washington Post: Virtual school operator K12 Inc. faces challenge from stockholders demanding transparency

Virginia-based K12 Inc. is the largest operator of for-profit charter schools in the country and is a national leader in running online full-time public schools in numerous states. The company, based in Herndon, has long been a target of critics who have questioned the quality of its schools as well as its spending and lobbying practices — and now, the company will face new questions, this time from stockholders. At a meeting scheduled for Thursday, shareholders are going to ask for a vote on whether the company should be required to publicly disclose details about its lobbying efforts in various states. The Arjuna Capital shareholder resolution asks that K12 prepare an annual report showing:

1. Company policy and procedures governing lobbying, both direct and indirect, and grass-roots lobbying communications.
2. Payments by K12 used for (a) direct or indirect lobbying or (b) grass-roots lobbying communications, in each case including the amount of the payment and the recipient.
3. K12’s membership in and payments to any tax-exempt organization that writes and endorses model legislation.
4. Description of the decision-making process and oversight by management and the board for making lobbying payments.

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