It would be wonderful if Schoolpop was sold out of bankruptcy. However, that may not happen.

Schoolpop and VISA reporting have been incomplete and inadequate since before the beginning of 2005 and the quarterly payout dates were changed in February to avoid any payments to schools in May. We have not received a quarterly check since February.

The concept is great and a potential 'easy' moneymaker but I am not confident that we will see the over $1,100 that is owed to us or that the reports will be corrected to accurately reflect our supporters shopping or VISA rebates.

Communication is extremely difficult with both Schoolpop and with the sponsoring VISA company. The letter that is referenced is 'nice' but I will not actively promote this company until there are further developments, records are accurate, and we have been paid.

From what I could find through a Google search, Schoolpop is about to be sold. Here is a copy of a letter written by the Director of Sales & Service posted at www.corante.com/goyami/archives/2005/09/...y_saga_continues.php

"I apologize for the confusion that has occurred as to the status of Schoolpop. Here is a recap of the events that have occurred since Labor Day: On September 13th, Schoolpop did in fact file for Chapter 7 bankruptcy and at that time, all of the employees, myself included were let go. Last week, the trustee handling the case contacted myself and a few others asking us to begin to communicate again with our Champions and Supporters regarding the now evident potential sale that is pending.

We have been asked to come back aboard and maintain the business until the sale is final and the new company will acquire Schoolpop's assets and programs. As the Director of Sales & Service, my intention is to make sure that every Schoolpop supporters' contributions are accounted for and recorded so that in the likely event of the sale, that the schools and NPO's receive their contribution checks. I encourage you to continue to promote the online shopping and Visa as we still have relationships with the vendor and Chase Bank and are maintaining those because we believe a sale will occur shortly. As far as the refunds due from the Supply program, I have personally recorded all refunds due and the trustee and court has this information so that once the sale occurs and the freeze has been lifted on any monies, these refunds can be expedited and sent out.

Again, I apologize for any confusion, that was not my intent, I want to make sure that our Champions & Supporters are aware of what is happening here so that at the conclusion of a sale, that the transition is smooth and without incidence.

Regards,
Katie Scott
Director of Sales & Service"

Thanks for the information. I will remove that link from our website. We did not raise much from this fundraiser, but it is good to know not to rely on it.

LoyaltyPoint, Inc., the parent company of Schoolpop, filed Chapter 7 Bankrupcy on September 16 in Atlanta GA.

Our school has been involved with the Schoolpop program since July 2004. The quarterly payment was due in August and I have been watching carefully as I had the impression that there were financial problems. Fortunately we did not participate in the School Supply program that seems to have been a disaster for many schools.

Monthly reporting by Schoolpop has been sporadic and inadequate since the beginning of the year. The web site is still up this morning and thought all of you that are participating schools might want to know.