Types of Startup Grants
A school in "startup" mode is eligible for one of three different types of Walton Family Foundation startup grants. The foundation defines "startup" mode to be 15 months before filing for a charter and through the schools first year of operation. The maximum amount any school can receive in startup funding is $250,000. Depending on where a school is in the authorization process, a school is eligible for one of three different funding options:
Phase I - Pre-Authorization: This grant is awarded to schools that have not received formal approval or an authorizer, have a formal business plan and financials (among other requirements), and who are very likely to open and receive a charter.
- Purpose: To help school developers begin school startup activities while awaiting final approval from their authorizer.
- Amount: Up to $30,000
- Timing: A proposal may be submitted up to 15 months before filing a charter petition.
- Requirement: A positive consumer credit report [for groups without 501(c)(3) status under the IRS Code]
Phase II - Post-Authorization:
- Purpose: To help school developers with startup costs after a charter petition is approved by an authorizer.
- Amount: Up to $220,000
- Timing: A proposal may be submitted once the school is approved by its authorizer and during the school’s first year of operation.
- Requirement: Proof of Charter Authorization
Phase III - Combination Startup: $250,000 Maximum – A proposal may be submitted once the school is approved by its authorizer and during the school’s first year of operation.
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