New Five-Day California Charter School Funding Option
We heard from a number of charter schools that they needed a faster funding option for tight-turn budget needs. We’re very excited to now be able to answer that request with our new five-day funding option, currently exclusively for California charter schools.
Since our founding, we’ve been able to provide over $1.6 billion in charter school funding to more than 600 schools across our nation and most importantly, to serve over 800,000 charter school students. We’re proud to provide the reliability and stability charter leaders require as they embark on their journey to educate more students today—and in the future.
If your school needs funds fast, we can provide charter school funding in as few as five business days so you can keep your focus on what really matters – educating your students. And, as an ongoing Charter School Capital client, you may qualify for a lower-cost option on fundings, as well as additional benefits and services as we partner with you to ensure your school’s continued success and growth. We help charter schools access working capital so they can:
Expand or grow programs
Open a new charter school
Enhance facilities – with labs, gyms, etc.
Provide new technology in the classroom
Hire and/or develop staff
Address budget shortfalls and delays (deferrals, holdbacks, etc.) gracefully
Improve transportation options
Enrich educational programs
Buy new equipment
Our team works with you to determine funding and facilities options based on your school’s needs. If you are trying to meet operational expenses, expand, acquire or renovate your school building, add an athletic department, or buy new technology, complete the online application below and we’ll contact you to set up a meeting.
To learn more about this new funding option, set up time with our California Funding Specialist, or get your funding request started by filling out the form here: GET STARTED
Charter School Enrollment: Are you making it easy to attend your school?
Editor’s Note: This article was originally posted here by Bright Minds Marketing and written by Nick LeRoy, MBA, the president of Bright Minds Marketing and former Executive Director of the Indiana Charter School Board.
Increasing charter school enrollment is vital to the health of your school—your business. But if you aren’t able to effectively connect and communicate with your prospective and current parents, boosting those all-important enrollment numbers for your school and retaining your existing students will be a challenge. In this article, you’ll learn the best way to leverage digital channels and how to boost communication between parents and teachers.
We think it’s vital to keep tabs on the pulse of all things related to charter schools, including informational resources, and how to support charter school growth. We hope you find this—and any other article we curate—both interesting and valuable. Please read on to learn more.
Are you making it easy to attend your school?
I don’t mean “are your academics not challenging or difficult?”, but have you made it easy for parents to be up to date on all the things that are happening at your school? I have conducted dozens of focus groups of parents across the country, and the number one complaint I hear from them is about the lack of communication from the school. Of course, when I say this to administrators, they sometimes have a hard time believing the data because they think they are over-communicating. “If parents would just read the communication, everything would be fine.”
We have a perception gap. As a marketer, the onus is always on you to make sure that your message is being heard, not on the customer to hear it. I hate to say this to school leaders because I know how challenging their job already is, but the parent is right. With today’s shorter attention spans and media coming at us from every direction, we have to adapt, and do more to communicate to our parents effectively.
Here is a list of things that I would challenge you to ask yourself if you are doing and if not, think about implementing some changes to try to make your school “an easy one to go to.”
Are you truly leveraging digital channels?
Is your website mobile-optimized? The majority of internet traffic is from mobile devices. A mobile-optimized site is customized for the screen size of a tablet or phone. If a parent is trying to read a site on a phone that is not mobile- optimized, it is going to be a frustrating experience – negating any work that you have done to make your website useful. Is your website up to date?
I know it takes time to do this, but your website needs to be scrubbed at least yearly to ensure that it is up to date. Next time you do it, create a written site map so you know what to update each year. Does your website contain answers to the most frequent parent’s questions?
Millennials, your primary target customer, don’t want to call you. They would rather go to your website. Compile the list of all the questions that your admin team fields day in and day out and make sure that those questions are answered on your website in an easy-to-find fashion. Can a parent fill out forms electronically on your website? Paper forms are a pain. They get lost, and someone in the office must input the information into the computer anyway. Brush up on your Google Forms and try to make things as electronic as possible. If I can sign bank forms or contracts electronically, is there a reason why I can’t do it for school forms? Can a parent pay for his/her children’s fees electronically and at a low cost?
Are there additional fees involved in paying electronically? My boys’ school just went to a new lunch program billing system. It is fine, but each time you put money into the account, there is a $2.95 service fee. That is fine for me, but for some people on a budget who may need to pay weekly, that may be an additional financial burden. Are you using a custom school App forsmartphones?
This is a great new technology that a lot of schools are using. It is not very expensive ~$250 / month and it is a huge benefit for parents. This allows you to push content, set appointments and reminders and constantly make sure that updated information is in the hands of the parent. Does your school calendar easily allow parents to import important events into their own calendar?
This requires a little bit more technical tweaking, but most parents live or die by our electronic calendars. Having a single consolidated calendar that can be integrated into a smartphone, tablet or existing online family calendar program is a worthwhile investment. Are you communicating about important events in multiple channels?
Some of your parents will go to your website daily, others use Twitter and still others only check their Facebook page. It is critical that you are providing information in every channel that your parents use. I covered the benefits of multi-platform tools in this blog posting. But, if you don’t want to use those tools and just want one social media platform, you need to use the one that most Millennials and Generation X parents use: Facebook.
How is the communication between parents and teachers?
Do you guarantee a response time to your parents?
Most teachers that I have met are good about this, but you need to make sure that all teachers know that parents generally will be expecting a turn-around time of within 24 hours. Make sure all of your teachers adhere to this and tell your parents that they will get a reply within a day. Are all of your teachers using the same in classroom communication system for parents?
Imagine this scenario: You are a parent of three kids. One teacher uses Class Dojo, one uses a Weebly website and another uses the app Remind. You are asking that parent to check three different places to know current homework assignments for the family. I know that each teacher probably has a preference, but if you are serious about making this easy for your parents, your school needs use just one platform. Do you customize your communication based upon the individual students?
This is a little bit trickier, but some schools overload their parents with a lot of communication that doesn’t apply to their student. While it is important for all of the 8th graders to know about the upcoming DC trip, can you figure out a way to just send that to the parents of the 8th graders? The use of “all school” parent communication can lead to parents tuning stuff out because they don’t think it applies to their own specific child. Being able to create segments in your email communication will increase your open rates and make sure that the right people are reading your communications. When I call the school, do I get a confusing phone tree or a real person that answers?
As I mentioned before, most millennials don’t want to call the school, but when they do, they want to talk to a real person immediately. Does your phone tree make them go through eight different options first before they get the selection to talk to a real person? This is a balancing act between having too many phone calls and not enough.
Your parents will love you if you undertake any initiative that improves communication and makes it easy for parents. You should always have a goal of making it as easy as possible to attend your school and ensure that your parents are apprised of updates, information and school news. If you make it easy to attend, you will be surprised at how many more people DO attend!
Digital Marketing for Charter Schools: An Actionable Workbook to Help You Achieve Your School’s Goals!
Need useful tips on enrollment for your charter school? Scratching your head as to how to go about implementing digital marketing strategies? You’re not alone! This free manual will be your go-to guide for all of your school’s digital marketing needs! Download this actionable workbook to help get your marketing plans started, guide you as you define your audience and key differentiators, choose your tactics, and start to build your campaigns.
Webinar: Top Five Financial Mistakes Charter Schools Make…And How to Avoid Them
Join us for our live webinar this week!
We’re going to answer one really important question, “How do we avoid the top financial mistakes that charter schools make?” We’re being joined by some leaders of Desert Star Academy, SALTech, and Wayne Preparatory – and they’ll be generously and bravely sharing the mistakes they’ve made as charter leaders, and of course how they solved those problems for the future.
We presented some of this content at the National Charter School Conference in Austin, Texas last month to a standing-room-only audience, so we’re bringing it back as a webinar for those that weren’t able to make it out to Austin. Join us to understand the five mistakes and you’ll walk away armed with the tools you’ll need to avoid them. Our esteemed panelists:
Margie Montgomery, Founder / Executive Director, Desert Star Academy
Michael LaRoche, Founder / Executive Director, SALTech Charter High School
Sharon Thompson, Chairman of the Board, Wayne Preparatory Academy
Tricia Blum, Head of Business Consulting, Charter School Capital
Understanding Charter School Enrollment Marketing Tools
Editor’s Note: In this, the proverbial age of technology, we wanted to dive deeper into how technology tools could specifically help with charter school enrollment marketing. For this CHARTER EDtalk, we were honored to be joined by Taryn Moore in Business Development and Partnerships at SchoolMint. SchoolMint has years of experience working with charter schools — from single-site schools to large charter management organizations (CMOs). They understand your environment and can help optimize your system for your requirements and your recruitment, application, lottery, and registration processes.
We think it’s vital to keep tabs on the pulse of all things related to charter schools, including informational resources, and how to support charter school growth. We hope you find this—and any other blog post we write—both interesting and valuable. Below you will find the video and the transcript. Please read on to learn more.
Janet Johnson (JJ): Good morning. I’m Janet Johnson with Charter School Capital. We’re here with Taryn Moore from SchoolMint and Kirt Nilsson from Charter School Capital, talking about enrollment today. Thanks for joining us. Taryn Moore (TM): Thank you for having me. Kirt Nilsson (KN): School enrollment—when it comes to schools thinking of that, it can be a little daunting. They have to run their schools and also try and get their word out. When it comes to things like leads and lotteries, can you think of ways they can manage that kind of information and that kind of process? TM: Sure. There are so many great tools out there. I think the key is really finding the tool that’s right for you. I would say look to your current challenges. If you have a lottery that families are saying is not transparent, find an automated lottery tool. Something that really directly addresses that challenge. First and foremost, I would say with whatever tool you choose, find one that’s suitable for your families. If your families don’t have home computers, necessarily, find a tool that’s accessible on mobile, or find a tool that’s available in multiple languages. The goal is to make it easier and more accessible for families. KN: You talked about some of the tools that are right for the school. Does it matter if they’re a school that’s just getting started, or they’re one that’s been around for several years and have been renewed … is there a right time for a school to start accessing technology like that? TM: I would say as early as possible is really the best time to start. I think, when you start early, you can tackle some of those change-management hurdles early on and start reaping the benefits sooner. And you can start out light-weight. Start out with a online application. Then, when it makes sense, move into a lottery or a lead tracking system. KN: I can definitely hear some of the reasons why a school would want to access technology like that. Are there also benefits to the families and the students from schools that access technology? If so, what comes to mind? TM: I think, for families, bringing technology into the mix really makes things more simple, more accessible to them. It can make really confusing policies feel simpler. It can bring a lot of transparency to various processes as well. Like I was saying before, if you have a tool that’s accessible on mobile, a tool that’s available in a language that’s comfortable for you, that’s going to do wonders for families. KN: Fantastic. Broadly, if you were to take your experience and say, “Hey, over the last couple of years things are changing in the enrollment technology space,” what kind of things are you seeing? What kind of things should schools be aware of as they think about this? TM: I think we’re seeing a lot of different trends. One is a move toward common applications. We’re seeing more and more cities unified – bringing all of their charter schools, or a subset of those schools, together onto a common timeline and into a single application – so parents only go to one place to put that application in. We’re also seeing a lot more sophistication in interest tracking and events tracking so that schools can manage, track, and engage prospective families.
The last thing I would say, we’re seeing a lot more sophistication in the way of data analysis. Schools want to know where their student applicants are coming from. And schools want to see what their acceptance rates are like year over year.
Also, on the front of data analysis, when you think about something simple, like a student address. We’re all collecting student addresses on a paper form. You can’t do much with it; it’s just on paper. If you have an online tool that takes that student address and drops a pin at that student’s home location, then you have this beautiful visualization of a map. You can see there’s this cluster of students in this area, and there’s kind of this bare spot over here. Then, you can make really data-driven decisions about outreach, to help achieve your enrollment goals. JJ: That’s great. KN: When I listen, I’m like, “She’s really offering great information.” But if I’m the school, and I hear all that, I’m like, “Wow, that sounds a little daunting.” Why shouldn’t I be worried about taking the first step to move in this direction, if I’m a school? TM: Everybody’s got to start somewhere, and there’s definitely some change management involved in the move to technology, but there are some benefits right off the top. I think, particularly for school staff. If you think about admins, who are today, spending lots of time entering data from paper systems. The move to online makes them really have a simpler day to day experience in the office. If they’re not entering that data from paper systems, if they’re not spending time manually tracking and managing a wait list, for example; they have more time to spend directly with families, which is really a better use of their time anyway. Of course, they have so much more powerful data to deal with as well. KN: As we listen to you and start to get comfortable with the idea of using that technology to really move forward enrollment in schools, what kind of things do you see that come from it? What’s the success story that comes from using this kind of technology? TM: I think some of the points that we’ve hit on already. An easier, more transparent experience for families, for sure. More powerful access to data for schools, so that they can really make data-driven decisions, and really move into the 21st Century. Parents are already using so many online tools as it is, to check student’s grades, to get e-newsletters from schools. To bring more and more of those processes online. I think it’s a lot less daunting today than it was even just five years ago. KN: As you mentioned the different systems, and how schools are coming up to speed, do enrollment technology systems integrate with other systems of the school? Do they even need to? TM: Yes, absolutely. We see it both ways. We see a lot of schools where they have a bunch of ad hoc systems that are working independently, and they’re navigating through those. We use those every day on our phones. If you open up your phone, you’ve got a whole slew of different apps that don’t have anything to do with each other. We somehow find a use for all of them and a way to navigate through them. Then there are also systems that are really end-to-end, so there’s not a need to integrate with other systems because they really cover a whole range of processes. Then, of course, there are systems that have great partnerships, or maybe there’s a platform of systems that really integrate seamlessly. KN: It sounds like a lot of choices out there. If I’m a school, and I’m thinking through the choices, how do I take the first step? What’s the first thing that I should do? TM: I think, in terms of making the choice, a simple Google search, of course, will render a lot of great results. I think also just talking to school admins and school leaders in your area can be a really helpful starting point. So many tools exist, and many of them are already in use by schools today. Finding out what others’ experiences have been like, I think, can be really helpful. Even thinking beyond just the horizons of your immediate geographic area, reaching out to school leaders in other areas of the country that maybe have similar challenges as you or similar demographics, can be really, really helpful. Kind of finding out what it’s like to work with a particular technology provider or a particular system. KN: Now is the time of year, when schools have finished, and they’re all giddy that the school year is over; but the fall is not that far away. Are they too late to start thinking about these technologies, or using them? Are they too late, if they get started now, for the fall? TM: I think it depends on the system that you’re looking for, the issue that you’re looking to address. I think if you’re looking to an online application system, for example, a lot of those systems can get you up and running in a matter of a couple of weeks, or maybe a month. I think it’s definitely not too late. It’s certainly never too late to at least begin exploring what your options are. KN: It sounds like that’s the message. It’s not too late. There are a lot of benefits of enrollment marketing tools to charter schools. A lot of benefits to parents. So get it going. TM: Yes, absolutely. JJ: All right. Thank you, Taryn, so much.
Feel free to email Taryn (taryn@schoolmint.net) with any questions you may have about your charter school enrollment needs.
Digital Marketing for Charter Schools: An Actionable Workbook to Help You Achieve Your School’s Goals!
Need strategic tips on enrollment marketing for your charter school? Scratching your head as to how to go about implementing digital marketing? You’re not alone! This free manual will be your go-to guide for all of your school’s digital marketing needs! Download this actionable workbook to help get your marketing plans started, guide you as you define your audience and key differentiators, choose your tactics, and start to build your campaigns.
Editor’s Note: This post was originally published here by the Fordham Institute on May 3, 2018. It was written by Amy Ruck Kagan, National Association of Charter School Authorizers’ (NACSA) Vice President of Authorizer Engagement and Advancement. The article addresses the need for charter school expansion in areas where high-need students don’t have access to elementary charter schools. Kagan challenges authorizers to review the data showing where elementary charter schools are – and are not – in relationship to high-poverty areas. She asserts that if authorizers use this data to rethink their state policy, authorizing environment, and community needs, more underserved children would have the opportunity for equal access to great public school options.
Read the complete article below.
Charter school deserts or opportunities for access?
At NACSA, I lead a team that works directly with hundreds of charter school authorizers across the country. I interact with many of them on a day-to-day basis, and they’re all driven by a commitment to ensure that every child has access to quality schools, regardless of zip codes. They know that great charter schools can transform children’s lives and that too many neighborhoods are void of quality educational opportunities.
Doing the work thoughtfully and meeting this critical demand requires the right tools and supporting data. Our research finds that the best authorizers are obsessed with data: They actively and intentionally seek out new information about their schools and communities, and they incorporate it into their decisionmaking when it’s appropriate. When this information is accessible, authorizers have the power to do something about the charter deserts within their communities.
One piece of this data puzzle might be a new report from the Thomas B. Fordham Institute, Charter School Deserts: High-Poverty Neighborhoods with Limited Educational Options. It seeks to help authorizers and those in the charter sector answer the question: What high-need areas in my city or state lack elementary charter schools?
Even if we added just one charter school in each desert, we’re talking about opening up great schools for up to 150,000 more kids.
The report maps the location of elementary charter schools against high-poverty areas using data from the U.S. Census Bureau. Alarmingly, it found that almost all states with a charter school law have at least one desert. More specifically, it found that there are roughly 500 neighborhoods across the country with a high concentration of families in need and no charter schools. The potential impact is huge: Even if we added just one charter school in each desert, we’re talking about opening up great schools for up to 150,000 more kids.
That’s why authorizers should take a moment to review this report and reflect upon their own state policy, authorizing environment, and community needs. Then ask: “What can I do to make sure that every child served within the boundaries of my portfolio have equal access to a great public school option?”
This isn’t an easy question. There are many factors that hinder growth within a portfolio—and many are out of an authorizer’s control, such as a lack of facilities, law and regulations, and other political obstacles. But I am a firm believer that there is a solution to every problem, and that authorizers are the solution-oriented and passionate professionals that can indeed create much-needed change. Here are some ideas for how authorizers can start using these data to create access for kids:
Share this report with decisionmakers within your organization and determine the right strategy for using the data to help communities in need.
Use this report in conjunction with expansion and renewal decisions with high-performing schools to create seats where they are most needed.
Evaluate how the data included in this report and other information can be used as part of the application decisionmaking process.
Truly examine and address the geographic discrepancies within your own portfolio of schools.
Opening more great schools that serve the students who need them most is one of the greatest challenges—and greatest opportunities—facing authorizers today. Authorizers have the power and the responsibility to help change lives. Using this report as a tool in their toolbox will only help provide more great schools for kids.
The views expressed herein represent the opinions of the author and not necessarily the Thomas B. Fordham Institute.
Since the company’s inception in 2007, Charter School Capital has been committed to the success of charter schools. We provide growth capital and facilities financing to charter schools nationwide. Our depth of experience working with charter school leaders and our knowledge of how to address charter school financial and operational needs have allowed us to provide over $1.6 billion in support of 600 charter schools that educate 800,000 students across the country. For more information on how we can support your charter school, contact us. We’d love to work with you!
Charter School Funding Sources: Receivable Sales vs. Traditional Bank Loans
At Charter School Capital, we are 100% dedicated to the charter space and to enabling the success of charter schools. Schools often have difficulty finding charter school funding sources for operations and growth.
One method of financing widely used by many industries is receivable sales. This reliable and flexible transactional process, pioneered by Charter School Capital for charter schools, provides access to capital needed to support operations, facilities, programmatic expenses, or other obligations.
To make things a bit easier, we wanted to help clarify some of the differences between accessing capital with a traditional bank loan or line of credit versus our receivable sales product with regards to access to money, cost, and risk.
Read on to get answers to the most commonly asked questions around options for charter school funding sources.
Access to Money
Who qualifies for funding?
With a traditional bank loan or line of credit, it’s limited and depends on the school’s credit history.
With Charter School Capital’s receivable sales product there is universal access as greater than 90% are approved for funding.
How much can be approved?
With a traditional bank loan or line of credit, it really depends on your credit rating which can also restrict the amount awarded.
With Charter School Capital’s receivable sales product, the amount is only limited by your school’s budget and we can fund all qualified receivables.
Can a lender/purchaser increase amount of contract?
With a traditional bank loan or line of credit, it can be difficult, time-consuming, and also require credit committee approval.
With Charter School Capital’s receivable sales product, it can be increased quickly and easily and the amount available will be based on qualified receivables.
Can you get funds when needed?
With a traditional bank loan or line of credit, it depends and the amount awarded and access to the funds can be restricted.
With Charter School Capital’s receivable sales product, the answer is yes, we can fund all qualified receivables when you need the money.
Cost
How much will it cost?
With a traditional bank loan or line of credit, the cost is not known until the loan is paid. In addition, state delays can cause additional interest, late fees, and penalties.
With Charter School Capital’s receivable sales product, the cost is known upfront and fixed, even when state payments are delayed.
Budget Planning –Dollars per Student
With a traditional bank loan or line of credit, the cost is unknown and harder to plan because of the fact that the cost is uncertain.
With Charter School Capital’s receivable sales product, the cost is fixed and certain. Having more predictable costs makes planning more reliable.
Risk
Who is obligated to pay?
With a traditional bank loan or line of credit, the school is obligated to repay debt.
With Charter School Capital’s receivable sales product, it is a state obligation, not a school debt.
What is at risk if the state delays payment?
With a traditional bank loan or line of credit, the school is at risk for interest costs, late fees, and possibly even default if the payment is delayed because the state is late.
With Charter School Capital’s receivable sales product, if payments are delayed at the state level, there is no recourse to the school and Charter School Capital assumes the risk.
Click here to download the free one-page PDF datasheet on these two charter school funding sources!
The Charter School Growth Manual
Whether you’re just beginning the process of starting up a charter school, looking to expand or trying to prioritize your next steps, download this guide to get expert tips and pitfalls to avoid as you grow.
For this charter school resource guide, we turned to our wide network of charter school experts for best practices and strategies for success at every stage of maturity. All of the advice in this book comes from experienced charter school leaders who have been where you are now—they understand what you’re facing and the pitfalls to avoid.
Walton Family Announces $100 Million for Charter School Investments
Editor’s Note: This post about the Walton Family grants towards charter school investments was originally published here, on June 19, 2018, by the Walton Family Foundation.
More than $100 million in new grants will support diverse and innovative school models and leaders
AUSTIN, Texas – Today, the Walton Family Foundation announced efforts to build and expand on two decades of school startup grants to fuel the growth of high-quality schools across the country. The strategy, detailed in Rooted in Opportunity: The Walton Family Foundation’s Approach to Starting and Growing High-Quality Schools, includes continued grants to proven organizations, like those that help create successful charter schools, with an expanded focus on innovative school models to meet the learning needs of all children. Foundation grants totaling more than $100 million will allow educators and leaders to launch hundreds of schools in the coming years.
“Thanks to courageous school founders – overwhelmingly teachers who have a vision for what school can be – we know that quality schools that put children on a path to college and career success at scale are possible,” said Walton Family Foundation K-12 Education Director Marc Sternberg. “But the simple truth is that a great school remains out of reach for too many families. So we’ve got to do more – more to support educators with a passion and plan for something better, more for families who look to schools as a pathway to opportunity. And in order to build on two decades of work, we need partners old and new in philanthropy and positions of civic leadership who share a vision for the day when all children have access to a school that is right for them.”
Areas of continued and new support are:
Starting and scaling more proven high-quality public charter schools. Building Excellent Schools: Identify, recruit and train leaders to launch high-quality public charter schools across the country.
KIPP: Grants that support all of KIPP’s strategic priorities including growth, academics, talent and the KIPP Through College program.
Supporting district and private schools that are embracing accountability and autonomy. Indianapolis Public Schools: Expansion of school-based autonomy and principal trainings.
Partnership Schools: To bring a proven turnaround model to struggling Catholic schools.
Implementing diverse pedagogical approaches. Big Picture Learning: Open 15 new public schools focused on real-world learning through internships and other activities.
Wildflower: Support for opening new, teacher-led Montessori schools in this network of district, private and forthcoming micro-charter schools across the country.
Increasing early-stage support for leaders of color Teaching Excellence: Train and support at least 620 educators, 70 percent of whom will identify as people of color, to teach across 15 charter organizations and school districts.
Camelback Ventures: Recruit, train and support leaders and entrepreneurs as they start schools or education-focused ventures across the country.
Navigating the student transition from secondary to post-secondary college and career The Match Foundation: Grow the college-support program Duet, which provides flexible and affordable degree programs and start-to-finish college coaching.
YouthForce NOLA: Help hundreds of New Orleans students secure internships and earn industry-recognized credentials, putting them on a path to high-wage jobs.
Growing schools that are serving special student populations well CHIME Institute: Grow the network of fully-inclusive schools where students with and without special needs outperform state averages.
Collegiate Academies: Expand Opportunities Academy, a rigorous full-day program that helps students with moderate to significant disabilities reach their highest potential.
Starting more schools that serve students of diverse backgrounds Bricolage Academy: Support to help the New Orleans school grow to meet the needs of local families. Currently, six times as many students seek enrollment at Bricolage than the school has capacity to serve.
Diverse Charter Schools Coalition: Study, source and share best practices of intentionally diverse public charter schools. Work closely with a select number of future school leaders to incubate and launch new schools.
Early stage support for entrepreneurs Reframe Labs: Recruit and support diverse leaders as they design and open innovative public schools in Los Angeles.
4.0 Schools: Recruit and support early stage entrepreneurs developing transformative schools, learning spaces and technology tools.
“Quality public schools are the bedrock of thriving communities and a strong democratic society. The investments that the Walton Family Foundation is making in innovation, accountability for serving students well, and diversity in American public education are heartening because of the difference they will make in the lives of students and families across the country,” said former U.S. Secretary of Education and CEO and President of The Education Trust John B. King, Jr. “More students, particularly those from low-income backgrounds and students of color, will be able to receive rich learning opportunities, successfully transition from P-12 into college and careers, and attend intentionally diverse public schools — with diverse, effective teachers and school leaders. I’m looking forward to the ways in which these important efforts will advance excellence and equity in public education.”
Some of the most impactful grants that span multiple focus areas include:
Charter School Growth Fund
Charter School Growth Fund invests in talented education entrepreneurs who are building networks of great charter schools. To date, CSGF has funded networks that operate more than 870 schools that serve over 370,000 students. Walton’s most recent support will help CSGF identify, develop and train school leaders of color with proven educational track records who have a high potential for success in starting and scaling high-performing charter management organizations.
NewSchools Venture Fund
NewSchools Venture Fund is a venture philanthropy that raises contributions from donors and uses them to find, fund and support teams of educators, and entrepreneurs who are reimagining public education and opening high-quality, innovative schools. New support from the Walton Family Foundation will allow NewSchools to support early-stage ventures that will increase the proportion of Black and Latino leaders in Prek-12 education, as well as incubate and support the launch of more than 30 schools.
Valor Collegiate Academies
Valor Collegiate Academies is a network of high-performing, intentionally diverse public charter schools in Nashville, TN. This support will allow Valor to codify its successful model that blends academic rigor and social-emotional learning and share best practices with schools in Nashville and across the nation.
“Every child deserves access to a great school, which is why it’s important to see a strong commitment to accountability,” said former U.S. Secretary of Education and Managing Partner at Emerson Collective Arne Duncan. “To continue our progress as a country, we need to aim higher for all children and all schools.”
“It requires a collective effort to have a transformative effect on the lives of students and teachers across our great nation,” said former U.S. Secretary of Education and University of North Carolina System President Margaret Spellings. “I applaud the Walton Family Foundation for undertaking this optimistic endeavor, and I am inspired to see their willingness to address issues in education through a varied and holistic approach.”
“As former Houston Superintendent and US Secretary of Education, I saw firsthand the power and importance of new school startup support provided by the Walton Family Foundation,” said former U.S. Secretary of Education Rod Paige. “These resources allowed thousands of passionate educators and other community members to open new schools that today prove what is possible in public education and how to change for the better the lives of children, families and communities across the nation.”
The Walton Family Foundation has supported the creation of more than 2,200 charter, district and private schools with $424 million in grants since 1997. These schools now serve about 840,000 children nationwide.
About the Walton Family Foundation
The Walton Family Foundation is, at its core, a family-led foundation. The children and grandchildren of our founders, Sam and Helen Walton, lead the foundation and create access to opportunity for people and communities. We work in three areas: improving K-12 education, protecting rivers and oceans and the communities they support, and investing in our home region of Northwest Arkansas and the Arkansas-Mississippi Delta. In 2016, the foundation awarded more than $454 million in grants in support of these initiatives. To learn more, visit waltonfamilyfoundation.org and follow us on Facebook and Twitter.
Since the company’s inception in 2007, Charter School Capital has been committed to the success of charter schools. We provide growth capital and facilities financing to charter schools nationwide. Our depth of experience working with charter school leaders and our knowledge of how to address charter school financial and operational needs have allowed us to provide over $1.6 billion in support of 600 charter schools that educate 800,000 students across the country. For more information on how we can support your charter school, contact us. We’d love to work with you!
From funding your growth, managing deferrals, to investment in facilities, get ahead of the game knowing these five charter school financing myths & facts!
MYTH: Charter schools should use their reserves to finance growth instead of looking for outside financing options.
FACT: Using outside financing to facilitate growth can make a charter more financially secure in the long run and pay for continued growth without depleting cash reserves.
MYTH: Growth capital should only be used in the case of state funding delays or deferrals or as a last resort.
FACT: Growth capital is incredibly flexible and can be used for operational growth, program enhancements, technology upgrades, school expansion, etc.
MYTH: Running a charter school is not like running a business.
FACT: A charter school is a business and making smart, informed business decisions will benefit your school’s viability, financial health and overall growth.
MYTH: Bonds are the best way to fund a facility.
FACT: Only 12% of charter schools have accessed bond financing. The process of securing a bond is often time-consuming and can incur hidden fees from audits, trustees and rating agencies.
Source: LISC, Charter School Bond Issuance, 2015
MYTH: Charter schools should own their facilities.
FACT: You’re in the business of educating students, not owning and managing real estate. There are many other financing options that will give you control and security over your facility.
If you’d like to download the PDF version of this infographic, click here.
Charter School Budgeting Best Practices: Don’t Just Survive–Thrive!
Since the opening of Charter School Capital 10 years ago, we’ve reviewed thousands of charter school budgets. Year after year, we see common mistakes many charter schools make when budgeting for their academic year. Hear from charter school finance experts as they give you a breakdown of budgeting best practices to help you have a financially successful academic year. Don’t just survive — thrive!
Providing a quality education to at-risk students often requires multiple resources. One-on-one instruction with teachers, access to good computers and customized lesson plans for students with special needs are just a few of the tools necessary to help children from underserved communities reach their potential. That is the formula behind the success of Skyline Education, a charter network in Arizona.
The multi-disciplined approach to education that Skyline’s six campuses provide “comes at a fairly high up-front expense,” says KJ Weihing, vice president of finance at Skyline Education. “We wanted to make purchases but didn’t have the up-front funding. That’s why we called Charter School Capital; they helped us get that short-term funding.”
Skyline opened its first campus in 2000, but it wasn’t until 2009 that the charter began to experience rapid growth. That year, the charter added two new campuses to its network, another in 2010 and two more in 2012. The network now serves more than 1,000 students in socially and economically diverse communities, including the Gila River Indian Community.
Such dramatic growth these past few years created a real need to access working capital, explains Weihing. The charter network knew that it would be receiving its funding, but given the uncertain payment schedule from the State of Arizona, they didn’t know when. School administrators knew that they needed some form of help to even out their budget throughout the year but were very wary of outside funders until they met Charter School Capital.
“We wanted to make purchases but didn’t have the up-front funding. That’s why we called Charter School Capital; they helped us get that short-term funding.”
~KJ Weighing, Vice President of Finance, Skyline Education
“I was impressed with the fee structure,” says Weihing. “A lot of times there are organizations that will lend for 20% interest because they know you can’t get funds anywhere else. Charter School Capital’s fee structure was not outrageous.”
But the relationship Skyline has developed with Charter School Capital is rooted in much more than just financial terms. Weihing would recommend to any charter school needing funds that they just “start the process,” stating that the two organizations have formed a real partnership dedicated to the success of Skyline Education.
“Last year, we wanted to make new computer purchases for one of our schools, but we didn’t have the current funding on hand to make that happen. So we used Charter School Capital to provide us with some short-term, immediate funds in order to get those computers into the classroom sooner than we would have been able to if we were waiting on funding,” concludes Weihing. The whole process has been “extremely seamless, quick and easy; I’m glad I did it.”
Since the company’s inception in 2007, Charter School Capital has been committed to the success of charter schools. We provide growth capital and facilities financing to charter schools nationwide. Our depth of experience working with charter school leaders and our knowledge of how to address charter school financial and operational needs have allowed us to provide over $1.6 billion in support of 600 charter schools that educate 800,000 students across the country. For more information on how we can support your charter school, contact us!
New Five-Day California Charter School Funding Option
