LISC to Hold July 10 Symposium on Investing in Charter Schools
NEW YORK, June 24, 2013 /PRNewswire-USNewswire/ -- The Local Initiatives Support Corporation (LISC), the nation's largest community development organization, will hold a one-day symposium, Bonds & Blackboards, on July 10th to demonstrate why Wall Street – especially the tax-exempt bond market – should invest in financing for charter school facilities. The Bill & Melinda Gates Foundation is sponsoring this first-ever, one-day event.
Currently, less than 10 percent of charter schools are able to access the bond market for financing facilities. For almost two decades LISC has connected high-quality charter schools to financing mechanisms as part of the nonprofit's comprehensive strategy for reviving low-income neighborhoods. Good schools are well known to stabilize families as well as attract opportunities for economic development.
In its groundbreaking 2012 report, Charter School Bond Issuance: A Complete History, Volume 2, LISC found that charter school bond issues have been successful investments. According to the study that examined 600 tax-exempt charter school bond issues, there were zero monetary defaults on charter school bonds with investment grade ratings and one default on bonds with non-investment grade ratings. In fact, LISC concluded that academic performance was the most important credit factor driving bond performance.
WHAT: A one-day symposium to help Wall Street – especially the tax-exempt bond market – understand the value of investing in charter schools and best practices for assessing their bond credit.
WHEN: Wed., July 10 – 9:30 a.m. to 6:30 p.m. (Registration and breakfast begin at 8:30 a.m.)
WHERE: The Harvard Club of New York City, 35 West 44th Street, between Fifth and Sixth Avenues.
WHO: Confirmed speakers include Noah Wepman of the Bill & Melinda Gates Foundation; LISC CEO Michael Rubinger; charter school investors Alliance Bernstein, Hamlin Capital and Nuveen; commercial bankers; bond underwriter RBC Capital Markets; and rating agency Standard & Poor's. The charter school sector will be represented by SUNY, a charter school authorizer; charter support organizations; and charter school operators.
The keynote speaker is Brett Peiser, CEO of Uncommon Schools, a charter school network of 32 schools in the Northeast that has successfully reversed the achievement gap between low-income students and their higher-income counterparts.
To register or view the full agenda and list of speakers, please visit: http://www.lisc.org/content/calendar/detail/20837/
Follow @LISC_hq on Twitter and find conference tweets at #bonds&bboards.
About LISC
The Local Initiatives Support Corporation is a national nonprofit with $13 billion in community investments that are helping some of the most impoverished neighborhoods in the country recover from decades of decline. LISC's Educational Facilities Financing Center was founded in 2003 with initial support from the Walton Family Foundation. Its mission is to address the charter school facilities financing crisis by providing more than $144 million in financing for 166 schools across the country, serving more than 68,000 students; investing $111 million in New Markets Tax Credits for 11 charter school projects and raising $128 million for educational facilities initiatives.
Contact: Amy Briskin,, 212-794-6644 or [email protected]
SOURCE Local Initiatives Support Corporation
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article