In celebration of National School Choice Week, we want to hear your stories! How has school choice helped your education? How have charter schools brought value to your community? If you’ve already shared your story, thank you. If you experienced technical issues, please try re-submitting your story again by clicking on the link below.
It’s easy to share your story. Click here and share. You might even win a Kindle Fire HD.
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Author: Grow Schools, formerly Charter School Capital
Even the most successful organizations face difficulties when expanding, and charter schools in particular face extra challenges. Public funding is determined by current, not projected, student enrollment. Advances for capital needs can be difficult to obtain from traditional banks, particularly given the often unfair reputation charter schools have as risky investments.
This is the situation that faced I CAN SCHOOLS, an ambitious charter network based in Cleveland, Ohio, which overcame charter school funding issues with help from Charter School Capital.
Founded by eight local teachers in 2010, I CAN’s first campus opened serving grades K-8. The school was an immediate success, earning a “B” rating in its first year – the first charter school in Ohio to achieve that feat. But things weren’t easy. After operating two years in “survival mode” – as school co-founder and CEO Marshall Emerson III describes it – the school’s administration realized that additional help was needed to expand. So they turned to Charter School Capital.
“Banks don’t get it sometimes. They don’t get that we’re doing good for the community,” explains Emerson. “Charter School Capital was able to assist with advice and with the financial landscape. Moreover, they have been very willing to make connections and introductions that help us.”
The industry expertise Charter School Capital provided combined with working capital funds enabled I CAN to realize several goals in a short period of time. Now, the charter school network operates seven campuses serving approximately 2,200 students across Ohio, including three new campuses in Akron, Maple Heights and Canton that just opened in Fall 2013. Emerson states that the network’s rapid growth is rooted in a desire to serve more kids, in particular low-income and minority students that are at risk of dropping out.
“Students mentally drop out in 7th grade; they just stop going to class in 12th,” says Emerson. “The better foundation we can give them, the better students do in the long-term. That’s why we’re here.”
During the next decade, I CAN has an aggressive plan continuing its expansion in Ohio, and eventually entering additional states, all in partnership with Charter School Capital.
“We’re able to speak confidently now about growth thanks to Charter School Capital,” concludes Emerson. “We were able to pay off a lot of our bills and then fund our growth. It’s been a real blessing.”
Share What School Choice Means To You
In honor of National School Choice Week (Jan. 26 – Feb. 1, 2014), Charter School Capital wants you to share what school choice means to you and your community.
Open now, the “What Does School Choice Mean to You” contest is accessible on Charter School Capital’s Facebook page. Students, parents, educators, and supporters from the community all are encouraged to share their stories about how charters and choice have impacted their families and lives. As a bonus, everyone who shares a story is automatically entered to win a free Kindle Fire HD.
School Choice has become a powerful movement during the past decade. Charter schools today are positively impacting communities across the nation – increasing educational opportunities and driving up academic performance. A 2012 study by the Florida Department of Education shows that charter school students are outperforming their traditional public school counterparts on almost all benchmarks. In California, underserved or disadvantaged students who would have been left behind in their education have now received their degrees thanks to charters focused on the goal of getting everyone to the finish line.
Freedom to choose the best educational environment for yourself or your children has never been so important. In this rapidly changing digital world, flexibility and innovation have become cornerstones to success. Charter School Capital understands that, and that is why we are proud to be the nation’s leading working capital and facilities funding source for charter schools in the U.S.
Charter School Capital funds more than 400 charter schools serving 400,000 students from California to North Carolina, Ohio to Arizona. That is why we want to hear from you. Coast-to-coast, school choice is making a positive difference in education and we want to hear those stories. Share yours with us today, and then share it with your friends.
You can share your story and enter to win the Kindle Fire HD here. (Full link below) Also, be sure to keep your eyes on the Charter School Capital blog. We’ll be taking excerpts from your stories to share with our readers. We might just share yours!
https://www.facebook.com/CharterSchoolCapital/app_1448834632002022
Charter High School of the Arts – Multimedia and Performing (CHAMPS) in Van Nuys, California has a diverse culture and unique educational focus. However, CHAMPS faced financial pressures as a result of California deferrals. Although grants and philanthropic funds helped somewhat, the school struggled with the same funding uncertainties impacting the operations of many charter schools. Charter School Capital stepped in to provide operational, working capital charter school funding to keep CHAMPS’s doors open.
“Charter School Capital kept the school afloat at a very bad time. It was instrumental in keeping us going,” says Joanne Saliba, director of CHAMPS.
Saliba first joined the charter school’s Board of Directors and her involvement led to taking on the Director position at CHAMPS. She had to quickly learn how charter schools receive funds from the state, how state legislation was impacting the school, and how Charter School Capital could help her through the process. She found herself contacting the Charter School Capital team often for information to help her in her new role.
“I think the Charter School Capital team is terrific. They are amazingly responsive and so helpful,” says Saliba. “Every person I’ve dealt with has just been great. There hasn’t been one time that I haven’t heard back immediately or gotten a very supportive response.”
CHAMPS is now experiencing great success. The school currently boasts an enrollment of 952 students in grades 9-12 and focuses on performing, multimedia, digital arts, film, dance, music, drama, and other programs. More than 13 languages are spoken in the halls and graduation success rates are exceptionally high. The school’s administration knows that this is due to the dedication of its students, staff and the combined interest in furthering the arts rather than cutting arts programs. This success is in part due to the partnership with Charter School Capital.
“In the day-to-day operation there is no question that Charter School Capital’s support is vitally important for our cash flow. Whenever there is a glitch or I find something I need, I feel very confident that we’re working together and that is a really good feeling,” explains Saliba.
CHAMPS and Charter School Capital will continue to work together to identify ways to meet the charter school’s funding needs. Ultimately this allows Saliba and the rest of her team to continue serving students, educating in their unique way as they prepare students for a lifetime of success.
Next Tuesday, January 21st, at 9:00 a.m. PST, Charter School Capital will be hosting its first California Legislative Update Webinar of 2014. We hope you will join our panelists as they share information about recent legislative decisions and policies that may impact your charter school. Our panel includes legislative consultant Branche Jones, Chas Cardall of Orrick, Herrington & Sutcliffe, and John Helgeson, co-founder of Charter School Capital. REGISTER NOW to join this FREE webinar. Stay up to date on news, trends and legislative issues important to charter schools by registering for our blog.
The California Department of Education is requesting that all data files be submitted no later than Wednesday, January 15th in order to meet the statutory deadline for the 2013-14 First Principal Apportionment. Please see the information below for details on files needed for submission. Additional information can be found on the CDE website.
From the CDE website:
Wednesday, January 15, 2014 is the due date for the following data files:
- 2013-14 P-1 Attendance
- 2013-14 P-1 Necessary Small Schools Funding Selections and Certifications
- 2013-14 P-1 SELPA ADA
- 2013-14 P-1 Special Education Tax Allocations
- 2013-14 P-1 LEA Special Education Infant Data
- 2013-14 P-1 Revenue Limit ADA Adjustments
Note: It is important that we receive the files by the due date in order to process the 2013-14 First Principal Apportionment by the statutory deadline. If you have any questions, or need assistance, please contact our office by phone at 916-324-4541 or by e-mail at PASE@cde.ca.gov.
Increases in available charter school funding and changes in lease aid may impact your charter school.
Lease aid for fiscal year 2014 and beyond has been impacted with the Minnesota Department of Education’s new requirement that charter schools include an “escape clause” in leases, both new and by amendment to existing leases. The intention of this change is to prevent landlords from participating in charter school close down funding allocations in the instance that a school is either terminated or does not receive renewal. There is concern within the commercial real estate community that this change may jeopardize charter schools’ entitlement to lease aid. There are currently efforts being made to reverse the decision to include this clause in charter school leases but at this time, the outcome is uncertain.
Finally, the Minnesota Department of Education has received approximately $20M in funds for dispersal to high-performing schools currently serving increased percentages of free and reduced lunch-eligible students. The application process for these grants is scheduled to begin as early as November 1st. Application forms can be accessed on MDE’s site.
We’ll continue to share additional information in support of Minnesota charter schools, charter school working capital financing and identify opportunities for charter school facilities funding.
We would like to hear from you. Please share your thoughts by commenting below. And, make sure to register for our blog to stay up to date on relevant information. Follow us on Facebook, LinkedIn and Twitter as well.
Effective charter funding solutions vary from school to school and from state to state. And while finding those solutions takes a dedication to education, it also means inspiring positive action by facing what are sometimes the unfortunate realities behind the lack of charter funding in a particular region: in this case, the United States.
According to a recent survey published by the National Alliance for Public Charter Schools (NAPCS) in June of 2013, the number of names on public charter school waitlists across the country has significantly increased during the 2012-13 school year. Whereas during 2011-12, the number of names on charter waitlists was an estimated 610,000, that number now approaches the one million mark at 920,007.
NAPCS also reported that 67% of public charter schools across the country reported having children on their waitlist with an average waitlist consisting of 214 students.
The cause behind the lengthy waitlists is parents’ growing demand for high quality public charter in America. Though the number of charter schools nationally is continuing to grow, the pace of funding seems inadequate to meet the burgeoning need. And while funding for older charter schools is still an ever-pressing reality for many charter schools, the charter funding market is becoming more and more competitive (as demonstrated by this data) with each additional charter school founded.
To learn more about what Charter School Capital is doing to help states address their need for improved (and increased) charter school education and charter funding, visit us today at https://charterschoolp.wpengine.com/.
Planning, locating and securing facilities is challenging for most charter schools, as Arizona College Prep Academy in Tucson learned through experience. The charter school recently held a grand opening celebration of it’s new facility that now accommodates classes and extra-curricular activities for nearly 125 students with room to grow.
Arizona College Prep Academy opened originally in 1997 as an affiliate to AmeriSchools network and subsequently became an independent charter school in 2012. Growing and in need of a new facility, the charter school’s administrators were faced with unexpected challenges. Banks would not provide the charter school facilities financing because they viewed Arizona College Prep Academy as a new school and therefore high risk. Likewise, they were ineligible for start-up funds because they were a pre-established charter school transfer. In an effort to find resources they desperately needed, school officials contacted several third-party organizations. However, none came through. Enter Charter School Capital, the only organization with ability, knowledge and desire to help.
“We couldn’t have even looked at a building like this without Charter School Capital,” explained Freddy Mendoza, assistant principal and co-founder at Arizona College Prep Academy. “They made deals available to us that wouldn’t have been otherwise. Once the deal was made, they were critical in helping us understand what we needed to do. Their team made it easy for us.”
Charter School Capital provided the technical commercial real-estate knowledge and assistance in addition to the facilities financing necessary to purchase the property and then lease the property back to the charter school. Charter School Capital will retain ownership of the property, alleviating the need for the school to spend lots of time focused on building repairs and maintenance and instead focus on their mission – educating students.
“It’s rewarding to know that Arizona College Prep Academy stayed on mission and we were able to help them find a facility that matched their goals,” said Stuart Ellis, president and CEO of Charter School Capital. “The charter school is now in a new space that matches their educational mission and culture, providing stability for college-bound students for years to come.”
Students, parents, teachers, and the Tucson community are excited. The new building is perfect for the charter school’s needs and gives them room for continued growth. Last week the community gathered to celebrate the opening of Arizona College Prep Academy’s new facility. Alumni, educators, dignitaries, community representatives, students, family, and friends of the charter school joined together to recognize the milestone and mark the building as their own.
Alumni drew outlines of their hands and signed their names along a wall mural to support the strong future for Arizona College Prep Academy and its students. Olympic Gold Medalist, Chrissy Pernham was on hand to share her thoughts about the importance of education and perseverance. The charter school has a bright future with a great new space that will support them as they grow.
Congratulations, Arizona College Prep Academy. The Charter School Capital team wishes you all the best.
The Charter School Capital team attended the 2013 National Charter School Conference in Washington, D.C. last week where we met great people in the charter school movement.
At the conference, Charter School Capital was one of the lead sponsors and hosted an engaging breakout session panel discussion with several knowledgable charter school leaders – Marshall Emerson, Manny Rivera and Mike Connelley. We’ve captured a few of their key points below.
Start-up schools and staffing: “Find humble, hungry and smart people…It’s not about the business plan. It’s about getting the entire team on the same page…everyone right down to the crossing guards should be able to talk about the school the same way the CEO does.” – Marshall Emerson, CEO & Co-founder of ICAN Schools
School culture: “You have to foster a great culture to keep staff. Traditional public schools usually pay more, and without the right culture many teachers will move to those schools.” – Manny Rivera, CEO & Founder of Believe 2 Achieve International
Future growth: “As the organization grows, the leader’s job becomes to hire, retain and manage the people who do the job that you used to do…you’re no longer ‘playing man-to-man,’ you’re now ‘playing zone coverage….’ Your biggest question is no longer ‘will I live to fight another day?’ It becomes ‘what do you want to be as you grow-up?’” – Michael Connelly, CEO of Mosaica Education
Learn more about Building a Growth Strategy, by viewing the presentation deck. And be on the lookout for more great advice and answers to the audience’s questions in the coming weeks. We plan to keep this discussion going and hope you will too by contacting a member of our team to learn more. 877-272-1001 or add a comment to this post.