The funding for charter schools is dependent upon the management company’s structure. White Hat Management and its schools operate under the full service management model, also referred to as the 97 percent management fee. Management companies that adopt this model agree to take on all aspects and financial risks of operating a school including the upfront investment in capital, in exchange for what is referred to as the 97 percent fee.
Under this structure, White Hat Management pays for all operations of the school from employment costs to maintenance, repairs and furniture for the facility. Typically, this capital outlay totals $1,000,000 or more and is used to make the school operational before one dollar of funding is received.
If the school is run well and optimum enrollment is achieved, the initial investment in starting a school will be repaid after three to four years and a modest profit might be generated. Each year, White Hat Management has an annual audit conducted by an independent auditor to ensure an accurate financial statement.
White Hat Management contracts and assists non-profit corporations that hold charters or see a need for a charter school in their community.
Charter schools are independent public schools made possible by various state laws and providing an alternative to traditional public schools for students who may need an educational alternative. A charter is a written agreement empowering local and intermediate school districts, the State Department of Education and other authorized sponsors to sign charters empowering schools. These contracts govern areas such as educational goals, curriculum standards, assessment measures, governance and financing.
Most charter schools are created by educational professionals, parents and often community or business leaders. The creators have flexibility in shaping the school, its curriculum, instruction, staffing, budget and internal organization. These models typically evolve by drawing ideas from experts worldwide and years of research.
White Hat Management-run schools aspire to give each student the opportunity to achieve. To make this goal a reality, White Hat schools couple traditional, proven methods of education with the most up-to-date technology and software. Each student is then considered when lessons are taught. Students are free to learn in a way that works best for them.
No. Although charter schools are funded by the state, each school is paid per pupil. Therefore, if a child withdraws from a traditional public school system and enrolls in one of White Hat’s public charter schools, the state funding is just transferred from the traditional public system to White Hat’s school.
Charter schools, unlike traditional schools, are solely attended by students whose families choose them, and they are staffed by educators who choose to work in them. The public authority that authorizes the charter can close the schools if they fail to produce satisfactory results.
Yes. We foster a safe learning environment, which is necessary for academic achievement. Parents are also encouraged to take an active role in their child’s educational endeavors, which further aids the educational process.