Building Equity Initiative
In 2016 we launched the Building Equity Initiative, an unprecedented effort to make it easier and more affordable for public charter schools to find, secure and renovate facilities. The goal is to alleviate the time and energy educators spend finding and securing buildings so more resources can go directly to students and teachers.
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.
Year 3 Report
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.
Year 3 Report
“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.”
– Andy Seibert, Executive Director, KIPP Indy Public Schools
January 27, 2020
Better school facilities, better schools
June 28, 2016
The Initiative will enable at least 250,000 additional students to enroll in high-quality charter schools by 2027
April 4, 2018
The Walton Family Foundation is working to improve K-12 outcomes for all students by ensuring access to high-quality educational options that prepare them for a lifetime of opportunity. The foundation has invested more than $1 billion to date to improve all types of schools — traditional district, public charter and private — and to support innovative organizations that share a common goal: to give all families the ability to choose the best school for their child, regardless of their ZIP code.
January 27, 2020
Grants to support appropriate and affordable facilities for schools in Opportunity Zones and other under-resourced communities
BEI Lending Funds
-
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 Fund
The Facilities Investment FundCreated 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 America
Big 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 Stories
June 15, 2023Environmental Charter Schools is helping students create a sense of ownership in their community and the world around them
June 15, 2023Philanthropy-backed impact fund pioneers unique financing model to help 156 public school campuses in 19 states access affordable facilities - directing $250M in savings back into classrooms
January 30, 2020How a timely loan for school expansion and renovations has helped Resurgence Hall flourish
September 18, 201940 public charter schools will receive support to open in economically distressed areas, including Opportunity Zones"[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