Access to good public education ranks high on everyone’s list as a foundation for a healthy neighborhood. Yet, attaining sufficient facilities stands as the biggest hurdle for both new and existing public charter and alternative schools. With initial support from the Walton Family Foundation, LISC established the Educational Facilities Financing Center (EFFC) in 2003 to undertake a three-pronged approach to LISC’s efforts in the educational facilities arena.

> Educational Facilities Financing Center - Program Summary (PDF, 125 KB)

Supporting Individual Schools:

LISC financed its first charter school in 1997, and since then has approved $30 million in financing for individual schools throughout the country. Through its network of 33 local offices, LISC will continue to address the immediate needs of charter schools by providing facilities financing for schools in local LISC communities.

Developing Local Facilities Funds:

The EFFC is investing in the development and expansion of local educational facilities funds and nonprofit charter management organizations through its national Educational Facilities Loan & Guaranty Fund. The EFFC and local LISC program offices are working closely with coalitions of public and private funders to create financing infrastructures that can serve the facilities needs of multiple schools in specific markets.

Fostering Public Policy Initiatives:

Long-term sustainability of alternative education reform models requires consistent funding streams and increased access to public facility financing. The EFFC is helping to create and enhance state and federal financing mechanisms and documenting best practices in facility financing, including publication of The Finance Gap: Charter Schools and their Facilities in 2004 and The Charter School Facility Finance Landscape in 2005.