A venture philanthropy fund that aims to expand private schools that serve low-income and working-class students, has begun making investments in Florida.
One early grant will provide $300,000 over three years to help Cristo Rey Tampa — a Catholic college-preparatory high school — to support its four-year school build-out.
The Tampa school opened its doors to ninth graders earlier this year, and will add one higher grade level per year as it grows to fill a remodeled boarding school that had previously stood vacant.
Initially targeting the states of Florida, Arizona, Ohio, Louisiana, Wisconsin and Indiana, the Drexel Fund has set a long-term goal of raising $85 million to support the creation of 50,000 new spaces for low- and middle-income students in high-quality private schools over eight years. Continue Reading →