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Charter School Business

August 2008 Newsletter

LOOKING FOR CONFLICTS OF INTEREST

BY Brent Van Alfen

"There are “war stories” that abound in the area of charter school facility finance where school boards have been victimized by those who had ulterior motives."





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Thursday, August 28, 2008


Charter School Grants

A grant is a sum of money which is donated upon request to a worthy recipient upon certain conditions and for specific purposes. Grantors are usually open for grant proposals from any worthy institution that is engaged in a qualifying endeavor that the grantor is sympathetic with. Grant proposals may be very long thorough and sometimes arduous processes that provide no guarantee of success. Typically, there are far more applications that there are grants available.

Charter schools are a relatively new development on the American scene so it takes experience, creativity and persistence to get a charter school grant. The number of grant sources is limited and grant applications may require more convincing for the concept of charter schools. There are, however, a growing number of grant sources that are specific to or at least informed about the fast growing charter school movement.

Grants may be available at the State and Federal levels through government and quasi-government agencies that serve educational and social purposes. The most numerous sources of grant money are from private sources such as foundations and charitable organizations. It takes a tremendous amount of research to find these grant sources that may be compatible with any particular grant request.

It is usually very productive to spend enough time identifying the best source of a grant you are interested in before beginning to write a grant request. A great deal of time may be wasted by grant writers producing elaborate grant requests for prospective grant sources that are not interested in the grant request concept or purpose of the funds.

Writing grant proposals requires skill and experience both in identifying a good, compatible source of grant funding as well as writing the grant request itself. The odds of getting a grant are long under the best of circumstances but they are even longer if a novice writes the grant proposal. It is well worth the time to hire a proven, experienced grant writer to make a grant request. When doing so, be a good consumer. Ask for examples of the grant writer's work and ask for references. Experience is very important, especially if it has produced success.

Financing is often available for qualifying schools in the commercial markets for facilities and equipment financing. While a school usually must have been in operation for at least two years to qualify, in certain cases, they may qualify for commercial financing earlier than that. Municipal, tax exempt financing is also available in many states. An excellent source of guidance on this subject may be found at www.providencefinancialco.com









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