According to the National Alliance for Public Charter Schools, charter schools serve more than 3 million students throughout the nation, however, charter schools do not have access to the same financing structures as district schools, which makes access to facilities a challenge to the growth of this sector (read the full report here: https://www.publiccharters.org/our-work/publications/strengthening-federal-investment-charter-school-facilities).
For qualifying schools, one option for financing the acquisition and improvement of facilities is through the issuance of tax-exempt bonds. The attorneys at Caritas Law Group help charter school leaders as they work toward refinancing existing debt and/or financing the acquisition and improvement of their facilities in order to lower or level out their debt service, better serve their community, and attract new student enrollment.
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The attorneys at Caritas Law Group have worked on numerous publicly offered and privately placed tax-exempt bond transactions throughout the nation. Since 2016, Ashley I. Spear, Esq. has served as borrowers counsel or special local counsel on charter school revenue bond issues totaling more than $573 million in Arizona, Nevada, North Carolina, and Florida.
The chart below includes an overview of the tax-exempt bond process:
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To determine whether tax-exempt bond financing is right for your nonprofit organization, reach out to Caritas Law Group for a consultation.
Ashley Spear is a nonprofit lawyer with Caritas Law Group, P.C. licensed to practice in Arizona. Ashley advises nonprofit and socially responsible businesses on corporate, tax, real property, and tax-exempt financing matters. Ashley also has significant experience advising charter schools and charter networks. To schedule a consultation with Ashley, call 602-456-0071 or email us through our contact form.