Madison Preparatory Academy doesn’t have the money to open as a private school next fall and its future is in the hands of the Madison School Board, according to a lead supporter of the charter school proposal.
Supporters still want to open Madison Prep in the fall but haven’t been able to raise about $1.2 million needed to run the school because its future beyond next year remains uncertain, Madison Prep board chairman David Cagigal said last week; moreover, a key donor said her support is contingent on School Board backing.
Cagigal said the private school option was never intended to be more than an interim plan before the school opened as a public charter school. One of the most common reasons charter schools fail is lack of funding, he added.
“We can’t approach these donors unless we mitigate the risk,” Cagigal said. “The only way we can do that is seek a 2013 vote.”
Cagigal acknowledged that if the School Board doesn’t vote on opening Madison Prep as a charter school in 2013, “then we may have to wait.”
Much more on the proposed Madison Preparatory IB charter school, here.
The fate of Madison Prep was discussed at a recent school board candidate forum.