Tired of the usual school systems? Try charter schools. But you will need funding to be able to keep the business afloat. A more specialized and tuition-free part of the public school system, charter schools are popular for their capacity to get the bulk of their operational funding from various sources. As such, enrollees are like lottery winners, as few are made to qualify for this high quality education on a shoestring budget. Charter schools are hardly regulated but most have established their reputation for being able to produce competent graduates. Here are the steps in getting your closer to funding the charter school of your dreams:
- Charter School Growth Fund (CGSF). If you have promising performance as a charter school, you just might get help from the organization called Charter School Growth Fund. Their application is a bit straightforward but processing might take time. While you wait for them, there are still other avenues to consider.
- Local School Board and Superintendent. Local school boards within your area usually have extra funding for ventures like your plan to put up a charter school. If you employ their assistance or help in your project, you might not just get all the tips, but also the financial backing that will help you stay afloat while you are starting your school. They are most able to assist with start-up funds more than any other agency on earth.
- School Loans. Organizations like Self-Help allow charter schools to startup without social obligations, but with an obligation to pay back when the funds start coming in. Up to $500,000 is available for loans with these types of charter school funding.
- Special Education Related Funding. Acts like the American IDEA (Individuals with Disabilities Education Act) allow extra funding for charter schools that have an avenue for special education. If you have that in your school, you can secure extra funding as well from this source.
- Local Contributions. Local contributions from individuals and groups within your community are also viable sources of funding for your charter school. These local contributions, when well marketed, are actually a sizeable amount. However, the regularity is not that guaranteed and may just be useful for start-ups.
- In-Kind. Funding is not only in the dollar form. You can still get it from in kind contributions. Chairs, school supplies and other stuff for your school’s facilities may just help cut back that financial help that you need by a certain fraction.
- Facility Leases. If you already have a place for the school but need extra for the operational expenses, you can lease the place for events and other things that can help other organizations. This way, you can add to the incoming funds. This can even be something that will cover all your monthly expenses even after the startup.
- Boosting Clubs. Parent and teacher clubs may also have their own hand in creating their own fundraisers for the charter school.
- Joint Ventures. Other social agencies with similar goals as those you are specializing in your school may engage you in joint ventures that double as a synergistic fundraising or exchange deals on both parties. Financial funding might just come up in the negotiation.
- Fund Drives. You can also create your own fundraising drive to complement all the other sources. This is fun and at the same time will test your creativity.
Time is of the essence when you are trying to get funding for your
charter school. It will also help if you have created your own fiscal
plan for the charter school, so that you will know how much exactly you
need. Documents from US Charter Schools may be able to help you with
everything you need to complete your startup.