Absolute Return for Kids (ARK), is an international children's educational charity based in London, UK.
Ark is a registered charity under English law. In its reporting year 2017–18, excluding its few subsidiaries, it saw gross income of £14.66 million and had 42 employees.[1]
Ark is the parent organisation of Ark Schools, a separate legal entity that is a multi-academy trust in the English education system, with 39 schools (as of 14 October 2022) and nearly 30,000 pupils.[2][3]
Ark was founded in 2002 by a group of hedge fund financiers including Paul Marshall and Ian Wace of Marshall Wace – and Arpad Busson of EIM Group, founding chairman of the charity's board of trustees.
Its aim is to invest philanthropy (benevolence, gift-giving) to improve, greatly, the life chances of children. Since 2014, the charity has been known as Ark or ARK.
Its charitable objects are: "to make sure that all children, regardless of their background, have access to a great education and real choices in life. ark incubates, launches and scales ventures that share our mission and values."[1]
Ark operates in the UK, South Africa, Zimbabwe and India. In the US, it is affiliated to Absolute Return for Kids US, Inc. (Ark US), a US philanthropic organisation which shares Ark's mission, and which supports the work of Ark through grants.[4]
Ark works in education, health and child protection.
In England, its subsidiary Ark Schools is a multi-academy trust responsible for the schools that Ark runs which, typical of its class, has exempt charity status since 2011.[4][5])
Ark Schools was created in 2004 to work with the Department for Education and local authorities to create new schools for inner cities through the academies programme. Its aim is to help close the achievement gap between children from disadvantaged and more affluent backgrounds.[6] Its academies focus on raising attainment with the aim of every pupil going into higher education when they complete school.[citation needed] The schools are frequently held up by the government as an example of a successful multi-academy trust, where at least seven others were failing[vague].[6] Ofsted chief inspector Sir Michael Wilshaw stepped down in 2016 and was replaced by Amanda Spielman, the founder of Ark Schools and an accountant.[6]
As of 2019, Ark runs 36 schools in the English education system, and plans to grow further. It has been, by a sector analyst of a periodical, criticised or seen as unusual for a record of running some schools, as at before 2020 at a deficit, relying on internal loans[clarification needed].[7]
In 2022, the Birmingham school Ark Kings Academy was given a funding warning after being found inadequate during an Ofsted inspection. The Ofsted report, published in May 2022, following an inspection in February 2022, said: "Some pupils, particularly those who identify as LGBT, experience repeated name-calling and prejudiced behaviour. This means that pupils do not feel safe in the school."[8]
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As of November 2018 the Ark Schools trustees are Ian Wace (Chairman), Lord Fink, Sir Paul Marshall, Anthony Williams and Anthony Clake.[4]
Arpad Busson sits on the global board and is chairman of Absolute Return for Kids, US, Inc.