Equitable Facilities Fund is a nonprofit social impact fund for high-performing public charter schools. We offer low-cost, long-term financing for a variety of facility projects.
Across the United States, a key piece of the American Dream is missing.
At Equitable Facilities Fund, we support schools that are creating educational opportunity for communities that need it most. We provide our partner schools with low-cost, long-term, fixed-rate loans at the best terms available outside of government-enhanced programs.
We seek to disrupt the traditional barriers to capital access that schools, families, and communities face across America.
To date, EFF has committed $400M in high-impact funding to support schools serving more than 35,000 students across 12 states.
Our loans have saved schools over $80 million - funds that go back into the classroom where they belong.
For every $1 of philanthropic funding received, EFF provides $4 of low-cost loans to excellent schools.
Meet Some of Our Partner Schools
We are proud to partner with high-performing schools that are making the biggest difference for students and families.
Read our full case study of our KIPP Nashville partnership here.
View KIPP Nashville’s S&P Ratings Report Here
Founded in 2005, KIPP Nashville is a six-school network dedicated to building a vibrant, successful culture in Nashville. The network enrolls students from 23 zip codes, serving families from a wide range of neighborhoods and socio-economic backgrounds. From the moment a KIPP student enrolls, they partake in a curriculum that reinforces the scholarly skills and habits needed for success in college and in life. KIPP Nashville’s commitment to help every student to get “to and through college” drives academic results that far exceed those of the surrounding district, and the first class of KIPP Nashville seniors graduated in 2018 with the highest average ACT scores of any KIPP high school in the country.
In 2019, EFF provided a $10.5 million, 30-year, fixed rate loan to refinance debt that financed the acquisition of and renovations to KIPP Nashville College Prep Elementary School and Middle School.
In 2020, EFF provided KIPP Nashville with an additional $19.1 million loan to build a new school facility for KIPP Antioch College Prep Middle School and refinance an existing loan used to finance a portion of KIPP’s elementary school on the same campus. By securing another 30-year, fixed-rate loan, KIPP Nashville will save over to $4.6 million in total compared to alternative financing options.
“EFF is a truly mission aligned partner and that separates them from the field of lenders out there. For KIPP Nashville, the EFF loan has allowed us to fix large proportion of our facility costs for 30 years while saving a significant amount of money compared to the rest of the market. We are able to pour more money into our day-to-day academic program and are better positioned to make long term decisions having more visibility and confidence in our long term financial model. We are grateful for the partnership and would highly recommend the EFF team.” – Dan Gennaoui, Chief Financial Officer
Blackstone Valley Prep Mayoral Academy
Read the full case study of our BVP partnership here.
View BVP’s S&P Ratings Report Here
Blackstone Valley Prep (BVP) opened its doors in 2009 to 26 kindergarten scholars and has since grown to serve 2,112 students across three elementary schools, two middle schools, and one high school. BVP teachers and staff live by the mantra that “college begins in kindergarten” and have implemented a rigorous curriculum that has produced some of the strongest academic results in Rhode Island. The network utilizes a “diverse-by-design” model, enrolling students from four racially and socioeconomically diverse communities. Its culturally responsive curriculum aims to reflect and incorporate the range of experiences and backgrounds of its students. During the 2017-2018 school year, BVP juniors and seniors earned SAT scores that placed them in the top 10% in the state in Math and top 20% in Reading.
In 2019, EFF provided a $16.0 million, 30-year, fixed-rate loan to finance the acquisition of the high school facility that BVP had previously leased from Civic Builders.
In 2021, EFF provided BVP with an additional $15.9 million loan to finance the acquisition of an elementary school building leased from Civic Builders, refinance debt used to purchase another elementary school facility, and refinance multiple loans associated with the acquisition and improvement of other network campuses..
In aggregate, financing from EFF will save BVP over $8.0 million to re-purpose to high-quality teaching and learning.
“Equitable Facilities Fund has been an incredible partner for Blackstone Valley Prep. As a relatively young and growing organization, our ability to access facilities funding was limited. The EFF team, however, not only provided us with very favorable financing terms, but also provided sage strategic advice and counsel. As a result of this project, we are able to reallocate tens, if not hundreds of thousands of dollars into classrooms.”
– Jeremy Chiappetta, CEO
Read the full case study of our James Irwin partnership here.
View James Irwin’s S&P Ratings Report Here
James Irwin Charter Schools (JICS) opened its doors in the fall of 2000 with a vision to create a rigorous educational program that challenges students to achieve their academic potential. Since then, the school has grown to operate 5 schools and has established a legacy of excellence. JICS has been recognized nationally, statewide and locally for academic excellence and achievement by publications including US News & World Report and The Washington Post. The network’s programming prioritizes the “5 Pillars of Character”: Honesty, Integrity, Respect, Responsibility, and Excellence.
Equitable Facilities Fund provided a $24.5 million loan to refinance bank notes that were used to acquire, construct, and expand JICS school facilities, which will save James Irwin around $3.0 million over the life of the loan.
“I found working with EFF to be a pleasure! They are clearly true to their mission of helping charter schools secure affordable financing for buildings. They built an incredibly effective team and every step of the process was so well defined that we breezed through each step. The entire transaction could not have gone any smoother. The annual savings of $150,000 that we expect on debt service and the locking in on long-term financing allows James Irwin Charter Schools to turn 100% of our focus on educating our students. We are secure in the fact that we have secured the best available arrangement for financing our three campuses”
-Eileen Johnston, Chief Financial Officer