NewSchools Venture Fund™ is a venture philanthropy firm working to transform public education through powerful ideas and passionate entrepreneurs so that all children – especially those underserved – have the opportunity to succeed in the 21st century.
James Flanigan has more:
Recipients of the fund’s investments are not whiz kids eager to become the next Bill Gates. Mainly, they are public school teachers with a passion to improve the ways poor children are taught. The companies they form are nonprofit charter school management organizations, capable of running publicly financed elementary and secondary schools that are freed from some rules and regulations in exchange for producing educational results better than those of the large urban school district. Almost all their students are eligible for free or reduced-price breakfasts and lunches.
Financing from New Schools and charitable foundations helps them to build or buy school properties and to get elementary, middle and high schools up and running. But their operations are expected to quickly become self-sustaining on the stipends paid from local, state and federal taxes for educating each student.