Bold Charter School (BCS) is a high-performing elementary and middle school in the Bronx, New York. Their mission is to help build the academic and character foundation each student needs to succeed in college and career and serve as the next generation of leaders. The Local Initiatives Support Corporation (LISC) provided a $3.3 million leasehold improvement loan to renovate a former elementary school facility to meet the needs of BSC’s elementary school students for the coming school year. BCS elementary school students are currently spread across two sites, these renovations will allow Bold to educate all their students in one building, while providing even more classroom, recreational, and administrative spaces.
BCS educates a student population that mirrors its surrounding community. 90% of BCS students from economically disadvantaged families and 31% of BCS students are English language learners. Students at BCS are outperforming the district by 30 percentage points on ELA and 32 percentage points on math.
Andrew Foglia, Executive Director and the founder of Bold Charter School is an experienced school leader. He began his career as a middle school math and science teacher in Newark, served as a principal at Success Academy, and then became a BES fellow. He is dedicated to increasing access to world-class schools for all children and leads Bold in service of that mission. To ensure exceptional academic performance, drive student success, and retain top talent, Andrew and the school’s executive leadership team have invested heavily in the professional development of their teachers. They have implemented professional development programs offering coaching for newer teachers and created pathways for career advancement. At the time of closing, most of BCS teachers identified as Black or Hispanic and the school has a strong retention rate of their teachers.
Bold Charter School’s renovated facility will allow the school to enroll and serve a total of 480 students. This project will create 22 construction jobs and preserve 26 staff positions at the school. The Charter School Financing Team is excited to partner with a school and senior leadership that continues to produce excellent academic results, and is invested in developing, rewarding, and retaining their teachers.
Have you identified the perfect site for the next phase of your school? Send us an email to explore acquisition loan options from LISC.
