Schools make Qld rich list

FAIRHOLME College and Toowoomba Grammar School have ranked among the richest schools in Queensland.

Queensland’s richest private schools raked in more than half a billion dollars in income during the Covid pandemic thanks to high tuition fees and hefty donations.

A News Corp analysis of newly released 2020 financial data shows that the state’s richest school, Brisbane Grammar School, recorded a recurrent net income of more than $58m.

Independent Schools Queensland chief executive Chris Mountford told News Corp families who chose to send their children to a private school, rather than to a fullyfunded place at a state school saved taxpayers more than $1.02 billion each year.

“Importantly, independent schools are not-for-profit institutions, which means all funds go towards supporting the education of students,” he said.

“Independent schools are continually investing parent capital contributions received over many years.

“This can only be achieved through having a surplus of income over expenditure.”

To see the full interactive head to thechronicle.com.au