Funding for the New Campus
The NYOS School Board and administration are focused on keeping the costs for the project reasonable while being equally focused on the quality of the new campus and preserving what is important about NYOS. The administrative staff has worked countless hours raising funds, exploring grant and funding opportunities, and consulting with our planning partners so the new campus publicly demonstrates that NYOS truly is not ordinary.
Our financial partners, Masterson Advisors and Frost Bank; our bond attorneys, Hunton, Andrews and Kurth have worked tirelessly to help us to secure the best possible financing option. Masterson Advisors has helped us to model financial projections to share with potential financing partners. Frost Bank has extended a line-of-credit to help us with pre-construction expenses.
As a result of these efforts, NYOS is grateful for the partnership with the Equitable Facilities Fund (EFF). We closed a loan with EFF in mid-May for just over $25 million. EFF offered a low interest rate for a 30-year term. Because of the favorable financing terms, NYOS expects to save $9 million over the course of the loan! Those savings will be invested back into the school to improve our educational program.
All our partners have been instrumental in helping us to realize our campus. However, several have been key in not just helping us build our campus, but in helping us do this expansion right!
- The Charter School Growth Fund provided the money necessary to initiate and fund the planning phase of the project;
- Bellwether Education Partners, working with the Walton Family Foundation and the Texas Charter Schools Association, sponsored a Strategic Growth Institute which provided services and opportunities to help NYOS strategically plan the expansion to meet our goals within the community’s parameters, and to better understand our fundraising needs; and
- The KLE Foundation will match funds raised by the NYOS community on a 4 to 1 basis, providing up to $2.1M to fund those aspects of the plan not typically covered by construction costs, like the advanced hiring of staff or the acquiring the instructional technology to meet the needs of new students. These generous funds are critical as they will help preserve the NYOS way. So, if your family is able, please support NYOS’ fundraising efforts. For every $1 raised, NYOS receives an additional $4 from these matching funds.
You can support funding for our new campus by donating to our capital campaign! Go here to make your donation: