The Annie E. Casey Foundation had a modest education portfolio used to leverage school choice and community options to ensure kids graduated from school ready to succeed as adults. This report details how Casey’s initial charter school venture in Indianapolis, Indiana, led to a range of philanthropic and community investments in sustaining the charter school initiative.
A Casey program-related investment (PRI) of a $1 million in loan guarantees secured $20 million.
Findings & Stats
Seed money investments do not have to be huge to attract other resources.
Almost 75% of students served by Indianapolis’ charter schools initiative at the time of this report were children of color.
67% of the charter school children were eligible for free or reduced-price lunch.
Statements & Quotations
Casey’s early investment enabled the charter initiative to develop high-quality authorizing and accountability systems that helped people in Indianapolis open charter schools that are getting results.
An objective of every education investment at the Annie E. Casey Foundation is to attract co-investment in promising and evidence-based programs and policies. Casey reserves roughly 15 percent of its annual education portfolio for these high-risk investments.
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