When it comes to capital projects like developing new school facilities or renovating an outdated building, most schools start by developing a wish list. An auditorium, a new gymnasium, an athletic field. Maybe all three?
Then, it’s up to administrators and business officers to figure out how to pay for it all, often leading to scary looking budgets, headaches, and painful cuts from the plan.
In these cases, most schools look to a handful of funding sources that we think of as “linear;” fundraising, grants, tax referenda, and tuition hikes. While these sources are often crucial to the success of a project, we know that in many cases they’re simply not enough by themselves.
Constrained by these sources, many schools wind up postponing their development plans, scaling them back, or abandoning them all together.
Our approach is different in three ways: