Building Equity Initiative
The Building Equity Initiative marks the first time philanthropists have tried to catalyze system-wide improvements in how high performing public charter schools access facilities financing.
Through the Building Equity Initiative, there is now a large network of real estate experts, lenders, financiers, technical assistance providers and more resources available to help public charter schools when financing and securing facilities.
“While building a new school is about providing a high quality option for students in Indianapolis, it’s also about investing in the Martindale-Brightwood neighborhood and responding to what we’re hearing from its members.”
The Equitable Facilities Fund>
The Equitable Facilities Fund is a first-of-its-kind nonprofit revolving loan fund that provides long-term facilities financing and works with partner schools to establish permanent roots and support thousands of students. The EFF provides charter schools with access to lower transaction costs and quicker loan execution, allowing schools to save several million dollars over the loan term.
Learn more about the Equitable Facilities FundThe Facilities Investment Fund>
Created in collaboration with Bank of America Merrill Lynch and managed by Civic Builders, the Facilities Investment Fund is an innovative private-philanthropic partnership to drive down costs associated with finding and securing facilities. The FIF will be available to single-site or public charter management organizations for new construction or site renovations.
Learn more about the Facilities Investment Fund
“The Facilities Investment Fund financing allowed Great Hearts Texas to continue to move forward with its growth plans in San Antonio, TX by making lower cost term financing available with no prepayment penalties.”– Ron Zoromski, Chief Financial Officer, Great Hearts AmericaBig Challenges Require Bold SolutionsWalton Family Foundation Launches Two New Non-profit Lending Funds
"Partnering with the Equitable Facilities Fund on our financing is a charter leader's dream come true. The philanthropic component of this investment coupled with the lower interest rate translates into real savings on facility costs for our school."– David Williams, CEO, Village Tech SchoolsRelated StoriesLISC and Walton Family Foundation Launch $2M Effort to Expand High-Quality Education in Opportunity ZonesLISC and Walton Family Foundation Launch $2M Effort to Expand High-Quality Education in Opportunity ZonesSeptember 18, 201940 public charter schools will receive support to open in economically distressed areas, including Opportunity ZonesFebruary 14, 2019Loans to expand access to high-quality schools for over 3,500 studentsApril 13, 2018New non-profit lending funds will provide public charter schools affordable financing for facilitiesApril 9, 2018Increased Access to Facilities Funding for Public Charter Schools
"[The EFF] has helped us dedicate more time to ensuring that every student we serve is prepared for a post-secondary education pathway to become successful adults, and allowed us to focus more on our alumni support program to make sure students not only get into college but also stay in college."– Ross Hurst, Chief Financial Officer, Soulsville Foundation