Charter School Development Corporation

Overview:

22Beacon is a 501(c)(3) nonprofit corporation and Community Development Financial Institution (CDFI), providing a critical service for new and expanding charter schools which, unlike traditional schools, have neither a ready source of capital for facilities, nor the taxing or bonding authority to address capital funding requirements. Because public charter schools’ per-pupil funding is often inequitable compared to that of traditional public schools (about 75-80% on average when compared to traditional schools nationwide), virtually all charter schools must use operational funding – money which otherwise would go towards educational purposes and classroom teaching and learning – to cover capital budget shortfalls. 22Beacon helps charter schools with the twin challenge of finding and financing facilities and closing the funding gap so that they can keep their focus on their educational mission and student achievement gains. 22Beacon specializes in working with newly formed and early stage charter schools in their first few years of operation, with a priority of schools in low-income communities and/or communities with a significant number of underperforming district schools.

Our Mission:

22Beacon is dedicated to the elimination of barriers to educational access and choice, promising to deliver growth from the ground up. By directing resources to those who need them most and serving the goals and honoring the spirit of the charter school movement, the ripple effect will improve countless lives far beyond the communities that 22Beacon serves.