Last mentioned: Mar 21, 2026
Payroll Deadline
The date by which the school will run out of cash to pay teachers without new funding.
Payroll Deadline
The date by which the school will exhaust its remaining cash for staff salaries.
Police Investigation
Boston Police confirm an open investigation into financial mismanagement and forgery.
Parent Notification
The Board of Managers informs families of the financial crisis and $13M debt.
Parent Notification
The Board of Managers notifies families of the financial crisis one week after the initial discovery.
Forgery Discovered
Leader Bank identifies a forged $500,000 letter of credit; Given is suspended by the board.
Forgery Detected
Leader Bank identifies a forged $500,000 letter of credit; Given is suspended by the board.
School Founded
Given establishes The Croft School in Boston.
School Founded
Given establishes the Croft School in Boston.
The Croft School faces imminent closure following revelations that its founder allegedly maintained dual accounting records to hide $13 million in debt and forged a $500,000 letter of credit. With Leader Bank seizing assets and the Boston Police opening a criminal investigation, the school's board is scrambling to secure $5 million to remain operational.
The Croft School is facing an existential crisis following allegations that founder Given forged financial documents and maintained dual accounting records to hide $13 million in debt. With bank accounts frozen and only enough cash to meet payroll through March, the institution requires an emergency $5 million infusion to prevent the immediate displacement of 200 students.