FY 2009 Snapshot

25 organizations, totaling $2,692,338 in loan balance
20 charter schools and 5 other educational nonprofits
95% of the organizations serve low income students
Education borrowers serve 7,969 students and employ 624 FTE
Charter school borrowers serve 6,258 students, which equates to 20% of all charter school students in Minnesota

How We Can Help

Who We're Helping

1House2Hands, Inc.
Agricultural and Food Sciences Academy
Aurora Charter School
Charter Schools Development Corporation
City of Lakes Waldorf School
Excell Academy for Higher Learning, Inc.
Fraser Academy
General John Vessey, Jr. Academy
Global Academy
Hmong American Mutual Assistance Association, Inc.
Institute for New Americans
Jennings Experiential High School
La Creche Early Childhood Centers, Inc.
Lincoln International High School
Minnesota International Middle School
Minnesota Internship Academy
Minnesota Technology Education Corporation
Minnesota Transitions Charter School
New Visions Academy
Northern Lights Building Company
Paladin Academy (formerly Liberty High)
Recovery School of Southern Minnesota
Riverway Learning Community
SAGE Academy
Seed Daycare
Seven Hills Classical Academy
Sobriety High Charter School
Somali Success Story
St. Croix Preparatory Academy
Tesseract of Eagan, Inc.
Twin Cities International Elementary School
Ubah Medical Academy
Watershed High School

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Education

Lending to Charter Schools

Since 1997, Nonprofits Assistance Fund has originated 95 loans totaling $12.5 million to charter schools in Minnesota. Loans have been made to 52 schools, including both startup and established schools, ranging from $20,000 to $500,000. Through this financial support, including working capital and facilities loans, Nonprofits Assistance Fund helps to maintain a stable learning environment for thousands of students around Minnesota. While some schools have faced financial challenges, the fund has experienced no loan losses.

Charter School Resources

Over the last decade, Nonprofits Assistance Fund has developed special expertise in the finances of charter schools and their challenges and opportunities.

Our White Paper on Cash Flow Challenges for Minnesota Charter Schools summarizes the background and current problems with charter school cash flow, as well as provides some guidance for schools about steps to take. We also created a specialized Charter Schools Cash Flow Template for Minnesota's charter school community. School administrators can use this tool to anticipate their financial needs and plan accordingly.

Other challenges for charter schools include financial management roles and responsibilities and the regulatory requirements of the state – student reports, detailed financial reports and annual audit. For more information on charter schools in Minnesota, read Kate Barr’s blog, Charter School Myths and Realities, as well as our one-page report on Lending to Minnesota Charter Schools.

Featured Story

Excell Academy

As an educator, Sabrina Williams understands that learning happens inside and outside of the classroom. Ms. Williams founded Excell Academy in 2000, a K-8 school in Brooklyn Park dedicated to providing students with learning opportunities and academic experiences which normally are not made available to them. She was passionate about education and the possibilities of the charter school movement, but inexperienced as an executive. Ms. Williams drew upon the range of training, financing, and other programs offered by Nonprofits Assistance Fund to help her school thrive. Excell went from a difficult financial beginning to winning school finance awards.

Learn how Ms. Williams took advantage of these resources to transform her school.

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