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Faqs

Partners’ Mission/Focus Area

Application and Selection

Funding Limits and Uses

 

Partners’ Mission/Focus Area

Why does Partners only invest in minority-led charter schools?
Partners was created specifically to address an identified need in the charter school movement—the dearth of highly qualified people of color who run high-performing charter schools and networks. Of the 1.4 million students enrolled in charter schools, almost 60 percent are students of color and more than one-third are from low-income backgrounds. The percentages of students of color and low-income students enrolled in charter schools are much higher in historically underserved communities. As the charter school movement continues to grow and serve underserved student populations, it is essential that more leaders of color are involved in the education decisions that affect their communities and the underserved youth who live in them. In addition, increasing minority leadership of high-quality charter schools empowers communities of color and resource-poor communities to create and sustain quality schools and educational options in their own communities.

How does Partners define a minority-led charter school?
Partners defines minority led as an executive-level leader, such as a founder, Chief Executive Officer or Executive Director, and/or board chair (or mostly minority board) from a historically underrepresented racial/ethnic group who is the key decision maker(s) and is responsible for executing the school's mission and vision. This leader(s) should drive the strategic direction and results for the school, have signing authority and control over the budget, and report directly to the Board of Directors.

How does Partners define underserved students?
We define underserved students as those from a historically underrepresented racial/ethnic group and/or low-income (i.e., would qualify for the federal Free/Reduced Lunch Program).

How does Partners define high-quality?
Partners' definition of high-quality includes students’ performance on national and state standardized assessments, as well as other indicators of academic success and organizational effectiveness. More specifically, we expect schools in our portfolio to:

  • Have the majority of their students meet or exceed standards in reading/English Language Arts and Mathematics established by the state;
  • Meet Adequate Yearly Progress (AYP) annually;
  • Demonstrate high overall performance and growth in student performance on national norm-referenced assessments during the school year and over time;
  • Have attendance rates of 90 percent or higher;
  • Graduate a minimum of 90 percent of their students; and
  • Remain financially efficient and on track to sustain core operations on per pupil revenues.

Will Partners invest in a charter school that is not yet open?
Yes. Partners' goal is to find the leaders of color with highest probability of efficiently starting and running a successful charter school or network of schools that is sustainable primarily on public funds. Partners' emphasis is on supporting the development of charter schools of excellence; that is, minority-led schools and networks that stand out for their achievements and results with underserved students.

Does Partners focus on specific geographic areas or regions?
No. Partners seeks to support minority-led charter schools that serve underserved students in any state with a charter school law. The school may be located in an urban, rural, or suburban community.

Does Partners focus on specific grade levels?
Partners does not focus on any particular grade level. Elementary schools, middle schools, and high schools, as well as various grade-level combinations, are considered equally.

I am running a school that is in its fifth year (or older) and we want to expand into a new charter school network/charter management organization. Should we apply?
No. Partners primarily invests in startups that will result in high-quality charter schools and charter school networks. We will consider charter schools that are still early-stage; that is, those that are less than four years old. If your school has been open for four years or longer, it has a history of strong student achievement, and you wish to grow to serve more students, please contact the Charter School Growth Fund (www.chartergrowthfund.org) for more information about their fund.

Application and Selection

What are Partners' application deadlines?
There are no deadlines for submitting an investment application. Partners accepts applications year-round.

I do not currently lead a school or have never run a school before. Can I still apply?
Yes. While Partners expects to attract minority talent within the charter school sector, we are also looking to draw leaders of color who do not work in the education arena and who will bring other industry experience and expertise to the charter school movement. This includes leaders of color who:

  • Possess an entrepreneurial spirit,
  • Are new to the charter school sector,
  • Have thought about starting a school but are still working in other industries, or
  • Have not previously thought about developing or running a charter school, but are excited about the mission of charter schools.

Does Partners accept unsolicited investment applications?
Yes, but only a small number of the most qualified applicants will actually receive investments. Qualified in this sense means an entrepreneur’s demonstrable ability to develop and execute a viable plan; assemble and rally a strong, supportive team; attract funding from sources other than Partners; and articulate the specific needs of the community you intend to serve.

Are there page limits for the letter of interest, document describing the school, or any of the other required application materials?
No.

What do you look for when determining whether to invest in a new or existing charter school?
Partners examines a vast array of criteria in making its investment decisions, including, but not limited to:

  • The mission, vision, and impact, and the specific outcomes the leadership team is trying to achieve for underserved students.
  • A clear sense of purpose and high probability of having a significant educational impact on the students served.
  • The executive leadership team and whether it is strong, committed, and capable of building and maintaining a high-performing, sustainable charter school or charter school network for underserved, minority students.
  • Leadership and staff that have a relentless focus on providing high-quality educational options and achieving results for underserved students, and are willing to be held accountable.
  • The school’s financial and operational stability and an explicit plan to achieve financial sustainability.
  • Respect and standing in the community and productive partnerships with other organizations.

When will I find out whether my investment application has been approved?
Given Partners' thorough due diligence process, we cannot guarantee that an investment application will be considered by a specific time. It may take up to nine months before Partners makes a final investment decision. During the due diligence process, the team does extensive research, makes multiple site visits, and has in-depth discussions with applicants and many others, assists in refining the charter school’s plans, and makes a final decision concerning the charter school's current or potential success. The team’s scrutiny increases dramatically at each step of the diligence process. However, the management team keeps applicants informed of their status and progress throughout the due diligence process.

If my first application is turned down, may I reapply? If so, when may I reapply?
If your application does not proceed to the next step, we will explain why we do not see a good fit with our organization. You may reapply for an investment after six months after your first investment application was declined. However, repeat applicants should emphasize modifications and highlight specific achievements and outcomes since last applying. At present, you may only reapply once.

 

Funding Limits and Uses

How much money should I request? Do you have limits on the amounts you give?
We encourage applicants to request what they need, whether you are planning to open a brand new school or grow/replicate an existing school. Actual investment amounts will vary depending on the number of schools created, students served, and years to full enrollment. The final investment amount requested will be determined in a rationalized way, reflecting your actual cash needs balanced by analysis of efficiency, effectiveness, and other actual or potential sources of capital. The final investment amount will always align with your finalized plan, even if it is not the amount you initially requested.

What can people use the money for?
The purpose of our fund is to help build a longer runway for minority-led schools to be successful. As a result, entrepreneurs of color may use Partners’ funds in a variety of ways including operations, supplemental strategic planning, instruction, and professional development and training, among others. Applicants should not request funds for their school’s reserve/endowment or capital campaign.

Will Partners fund my charter school's capital project?
Unless there are significant mitigating circumstances, Partners will not make an investment in a school’s capital project.

Can I request general operating support for my organization from Partners?
Yes, but requests for operating support must be directly tied to the creation of a new charter school or the growth, expansion, or replication of an existing charter school.

Will Partners fund my charter schools' conference, trip, lawsuit, protest, advocacy work, staff training, fundraising event, strategic alliance, or the production of our annual report?
No, Partners' investments are primarily for the creation and development of high-potential, minority-led charter schools and charter school networks.

Can I request funding from Partners for my personal financial needs?
No, Partners does not support individuals beyond the indirect funding of wages and benefits through its financial support of an established charter school.

Does Partners offer loans to organizations?
Yes, many investments include a mix of grants and loans. In lieu of a loan, Partners may negotiate a matching requirement as an indication that funded leaders are capable of securing needed capital from other sources. These decisions are handled on a case-by-case basis during the due diligence process.